BoCom International maintained a 00515-HK buy investment rating, reiterating that the company's performance has entered a major inflection point. The FY10-FY12 core net profit is expected to grow at a compound annual rate of 123.8%, raising the target price to 5.47 yuan, equivalent to 19.5X FY11F's expected price-to-earnings ratio.

BoCom announced last night that it signed a project investment agreement and a framework agreement for the operation and management of low-carbon green lighting demonstration projects with the management committee of Lianyungang Economic and technological Development Zone, which will transform and build about 20000 LED street lights from 2011, with a total estimated value of not less than 200 million yuan, plus the Zhengzhou municipal government LED street lamp project that won the bid a few days ago. The bank raised FY11&FY12 's operating income and core net profit to HK$1.32bn\ HK$1.57bn and HK$86m\ HK$124.8m respectively, of which LED street lamp business will account for 70% of FY11's total core net profit.

Dachin Jingdian rose 6.76 per cent to HK $3.63 yesterday.