Goldman Sachs pointed out that it was not surprising that Kaisheng Holdings' (00102.HK) gaming program in Russia was postponed until the next quarter next year, so its impact on earnings was limited. It only adjusted the earnings measurement per share in 2014-16 from -0.02/0.2/0.52 yuan to -0.01/0.15/0.51 yuan. The target price was lowered from 7.85 yuan to 7.5 yuan. The current valuation is attractive, maintaining the “buy” rating.

The group blamed the postponement of the project on the government's delay in approving the redesign, but the group submitted the final design blueprint to the relevant departments last week, and believes approval will not be further delayed. In addition, the group has also received goods from buyers of imported materials and equipment certified by the government; a solution has also been obtained in terms of migrant labor quotas. The site currently has 150 workers. It is expected that at the end of the project, 450 employees will commence construction during the peak period.