Salomon downgrades Yanzhou Coal Mining to ˇ§neutralˇ¨

Salomon Smith Barney downgraded ratings of Yanzhou Coal Mining (1171) to ˇ§neutralˇ¨ from ˇ§leading the marketˇ¨ 

Salomon Smith Barney said annual profit of Yanzhou Coal Mining will see 49% growth this year due to rising product volume and coal price. But export contract has already been signed and profit result will not bring startling good news. As the market has already assimilated the information, Salomon downgraded ratings of the company. 

But Salomon Smith Barney upgraded net asset value of Yanzhou Coal Mining to HK$3.36 per share.

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