Guoyuan Hong Kong maintained its 08060-HK buy investment rating, raising its target price to 0.64 yuan, equivalent to 12 times PE in 2011, with 77.8% room to rise from the current price.

Guoyuan said the company's profitability grew rapidly in the first half of the year and was in a high growth cycle in the industry, with revenue CAGR expected to be 63.9% in the next two years. In the first half of the year, the company achieved revenue of 58.0 million Hong Kong dollars, an increase of 161.3 percent over the same period last year, recorded a gross profit of 26.0 million Hong Kong dollars, a gross profit margin of 44.8 percent, an increase of 8 percent over the same period last year, and a net profit margin of 23.0 percent, an increase of 570 percent over the same period last year.

League of Nations Communications closed down 1.41% at HK $0.35.