what is going on with HNP? all other chinese power companies are
rising even after Chinese government decided to freeze electricity
price? It's obviously that rising in coal price will hurt HNP,, but
unlike other power companies   , HNP has acquired several coal mining
companies to cut its production cost. I expect HNP to be traded at
least 15 P/E.  any thoughts?

This news probably had a big impact: http://www.chinadaily.com.cn/bizchina/2008-01/16/content_6397818.htm

At the very least this creates a great buying opportunity if you're
able to go long on HNP. Otherwise, I wouldn't expect many short term
gains here. This thing will suffer as statistics start to show
weakened imports to the US market. Might be at least second half of
2008 before things start to improve.

Another great article on China's power shortages (even taking into
acct potential export slowdowns in 2008):
http://online.wsj.com/article/SB120111370804910481.html?mod=hps_asia_...

You might need a paying acct for the article. Bottom line, the
argument is that the government's efforts to restrain electric prices
are flopping and contributing to shortages as companies are not
getting enough revenue/profits...and if they don't have revenue and
profits, they don't expand capacity! Beijing should have learned long
ago that interfering with the market only makes things worse!!! HNP
should benefit when Beijing finally learns to let the company work the
market.