Chinese power equipment makers to face fierce price wars

Negative stance on this sector out.

According to Barclays, it reiterates its negative stance on the Chinese power equipment makers, which it expects to suffer from fierce price competition in thermal equipment.

Here's more:

We would avoid the sector until we see more clarity on the profitability of thermal equipment. We maintain our UW rating on Dongfang Electric, Shanghai Electric and Harbin Electric.