ROTH中国经济增长优势研究.pdf

Mark Tobin, Senior Research Analyst , (949) 720-5775 mtobin@ Sean Xiaoyang Jiang, CFA, Senior Research Analyst , (949) 720-5771 sjiang@ Sales (800) 933-6830, Trading (800) 933-6820 INDUSTRY NOTE | CHINA MACRO | April 26, 2010 China ROTH CHINA EDGE: April 16 to 23, 2010 ROTHs China Research Coverage Universe (including 65 Chinese companies) lost -0.1% in the past week as the SP gained +2.1% and the Nasdaq gained +2%. The Shanghai Composite Index, the Hong Kong Hang Seng Index (HSI), and the Halter USX (US traded) China Index (HXC) gaind/lost -4.6%, -1.2%, and +1.4% respectively in the past week. YTD, ROTHs China Research Coverage Universe has gained +0.4% and the following indices have gained/lost: SP +9.2%; Nasdaq +11.5%; Shanghai Composite -8.6%; HSI -1.2% and HXC +1.4%. ROTHs China Research Coverage Universe, currently trading at a median of 10.7x ROTH 2010 EPS estimates and 8.9x ROTH 2011 EPS estimates, remains at a significant discount versus peers, i.e. 17.5x for Shanghai Composite, 14x for HSI, and 17.3x for HXC. Among US-listed China stocks, healthcare (+2.7%), consumer discretionary (+1.8%) and information technology (+1.5%) stocks outperformed other sectors during the past week. For a copy of the full report, including macro-economic tables and ROTHs China Research Coverage Universe tables, plea