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Daiwa raises Canvest Env (01381) target to $5.9 Daiwa Securities has raised its price target on Canvest Environmental Protection (01381) from HK$5.5 to HK$5.9 and maintained its Buy rating on the stock. On November 16, Canvest Environmental Protection announced that it was awarded a WTE plant PPP project in Dianbai, Maoming City, Guangdong Province. The treatment fee of the WTE plant will be RMB89.5 per tonne. The company has guided for an attractive 30% compound annual growth rate for its total project capacity over 2017-2019, from 18300 tonnes per day (tpd) for 2016. Daiwa Securities expects the company to further announce about 2,000 tpd of new WTE capacity in November to December this year. The brokerage raises 2019 EPS forecast for the company by 5% after factoring in the Dianbai project's contribution to revenue from 2019. It expects the company to report net profits of HK$541 million, HK$679 million and HK$869 million for 2017, 2018 and 2019 respectively. ...
Citi lifts Fu Shou Yuan (01448) to HK$7.8 Citi Research lifted its target price for Fu Shou Yuan International Group (01448) to HK$7.8 from HK$6.9, and maintained its "buy" rating. The research house said the stock has risen 20% after the interim results beat. Citi expects multiple catalysts to sustain re-rating ahead: (1) likelihood of winning cremation machine tender in Qingpu, Shanghai; (2) strong run rate of pre-arranged funeral services; (3) unique business model drawing interest from southbound investors; (4) potential Ministry of Civil Affairs reform; (5) possible nati...
Citi tweaks China Oil & Gas (00603) to HK$0.75 Citi Research lifted its target price for China Oil & Gas (COG)(00603) to HK$0.75 from HK$0.7, and reiterated its "buy" rating. The research house raised its 2017-19 net profits forecast by 11-23% on higher NG sales volumes. It likes COG given (i) its NG sales growth +7ppts to +22% yoy in 9-month 2017 versus 1H YoY; (ii) reduced dollar margin risk in 2H, mitigated by a sales mix improvement with over 40% sales growth in high-margin commercial & industrial (C&I) users mainly from non-Qinghai provinces; and (...
Goldbond Group (00172): 1H loss may drop significantly Goldbond Group (00172) has said that it may experience a significant decrease in loss for the six months ended 30 September 2017 compared to the same period in 2016. The improvement in loss position was mainly attributable to the net effect of: (i) decrease in share of loss of joint venture Rongzhong Group to HK$3 million (corresponding period in 2016: HK$723.9 million); and (ii) increase in share of loss of associate China Rongzhong Financial Holdings (03963) (corresponding period in 2016: share of profit of HK$13.6 million)
PAX Global (00327) expects '17 profit to fall 40-50% PAX Global Technology (00327) expects a decrease of 40-50% in net profit for the financial year ending 31 December 2017 compared to that for the financial year ended 31 December 2016. The expected decrease is primarily attributable to: significant increase in research and development expenses of the group in relation to the development of new and innovative products by HK$76 million; and intended recognition of impairment losses of assets.
China Energy Eng (03996) unit secures Rmb131m contract China Energy Engineering Corporation (03996) said its subsidiary China Energy Engineering Group Guangxi Power Design Institute Co., Ltd. has recently entered into a contract with Pt. Kamirzu in relation to provision of survey and design services for the TAMPUR1 Hydropower Station in the Republic of Indonesia. Guangxi Power Design Institute would accept the entrust from Pt. Kamirzu to provide survey and design services for the TAMPUR1 Hydropower Station, including, among others, revision of a feasibility report, general...
VIP GGR unmoved by tighter junket regulations Deutsche Bank cited the Head of Gaming Bureau (DICJ) Paulo Chan at a gaming conference, saying that the regulator plans to lift standards for junket operators beginning in January when they submit their licenses for annual renewal. This may include closer monitoring of junkets' credit records and of the practice of taking temporary deposits from unqualified local citizens. The research house believes such regulations would have little impact on VIP GGR in 2018. Over the past three years, consolidation has left...
Kangda Env (06136) buys back 300,000 shares yesterday Kangda International Environmental (06136) said it repurchased 300,000 ordinary shares yesterday at the highest and lowest prices of HK$1.84 and HK$1.82 per share respectively for a total of about HK$550,950 (excluding commission and other expenses). The repurchased shares represent around 0.01451% of the existing total number of issued shares of Kangda. Kangda will subsequently cancel the repurchased shares.
China SCE Property (01966) Chairman adds 1m shares yesterday China SCE Property (01966) said its Chairman and controlling shareholder Wong Chiu Yeung acquired an aggregate of 1 million shares on the market yesterday with an average purchase price of HK$3.391 per share. After such purchase, Wong holds about 52.15% interests in China SCE Property.
U-RIGHT Int'l (00627) interim loss widens to HK$1.6m; no div U-RIGHT International (00627) said its loss attributable to owners for the six months ended 30 September 2017 widened to HK$1.597 million from HK$95,000 for the same period last year. Basic and diluted loss per share was HK0.12 cent. Revenue from continuing operations amounted to HK$207 million, an increase of 77.45% from a year earlier. No interim dividend will be distributed.
Agritrade Res (01131) interim net up 3.1% to HK$148m; no div Agritrade Resources (01131) said its profit attributable to owners for the six months ended 30 September 2017 rose 3.1% year-on-year to HK$148 million. Basic and diluted earnings per share were HK9.3 cents. Revenue amounted to HK$985 million, an increase of 51.1% from a year earlier. The significant increase is mainly due to the improved performance of the Group's mining operation with the recovery of coal price since the last quarter of 2016 and the increase in export sales of coal, as well as the additi...
GCL New Energy (451) inks finance lease deal with PNC Energy GCL New Energy (00451) said PNC Energy Capital LLC agreed to purchase certain solar photovoltaic energy equipment from GCL New Energy at US$94 million (equivalent to about HK$734 million) and PNC Energy shall lease the equipment back to GCL New Energy for a term of 14 years at an aggregate estimated rent of about US$74.96 million (equivalent to about HK$585 million). GCL New Energy will incur an aggregate amount of about US$1.21 million (equivalent to about HK$9.43 million) in total related expenses (...
UOBKH lifts CSPC Pharma (01093) to HK$20.1 UOB Kay Hian lifted its target price for CSPC Pharmaceutical (01093) to HK$20.1 from HK$15.24, and maintained its "buy" rating. The research house expects CSPC's strong growth momentum to continue in 4Q and 2018, driven by an enhanced sales network and launch of the new NRDL, NBP injections and Jinyouli maintained resilient sales growth in 3Q. It noted that CSPC will launch two blockbuster drugs in 1Q 2018, Albumin-bound paclitaxel and Clopidogrel. Meanwhile, due to stringent environment regulations, the high ...
Tianyun Int'l (06836) to issue US$9m convertible notes Tianyun International (06836) said it agreed to issue convertible notes in an aggregate principal amount of US$9 million at an interest of 6% per annum to Guotai Junan Finance (Hong Kong) Limited. The initial conversion price is HK$1.58 per conversion share, representing a premium of about 12.9% to the closing price of HK$1.4. Assuming full conversion of the notes, a maximum of 44.15 million conversion shares will be issued, representing around 4.32% of the enlarged issued share capital of Tianyun Internationa...
China East Air (00670) passengers carried up 7.5% in October China Eastern Airlines (00670) said it carried about 9.63 million passengers in October, an increase of 7.5% from a year earlier. For the first ten months of 2017, the accumulated number of passengers carried amounted to about 92.2 million, up 8.2% year-on-year. Passenger transportation capacity (measured by available seat-kilometres) of China Eastern Airlines in October grew 10.1% year-on-year, passenger traffic (measured by revenue passenger-kilometres) increased by 8.2% year-on-year, and passenger load factor decreased by 1....
New Sports (00299) to consolidate shares on 20-to-1 basis New Sports Group (00299) said it proposes to consolidate every 20 existing shares of par value of HK$0.0025 each into one consolidated share of par value of HK$0.05 each, and to change the board lot size for trading on the Stock Exchange from 10,000 shares to 5,000 consolidated shares after and conditional upon the share consolidation becoming effective. It is expected the share consolidation will become effective on 21 December.
Jiayuan Int'l (2768) to buy 2 Yangzhou projects at Rmb2.45bn Jiayuan International (02768) said it agreed to acquire the entire equity interest in Yangzhou Yurun Property Development Co., Ltd. at Rmb2,450 million. The target compant is principally engaged in property development and management. It holds two property development projects located at Guangling District, Yangzhou City, Jiangsu Province, the PRC, which comprise Yangzhou Guangling District Yurun Guifu Project and Yangzhou Guangling District Yurun Xingyu Huafu Project. Yangzhou Guangling District Yurun Guifu Project has a site area...
OP Fin Inv (01140) to raise HK$1.55bn from shares placing OP Financial Investments (01140) said it agreed to place 740 million new shares at HK$2.1 per share, representing a discount of about 1.9% to the closing price of HK$2.14, to four subscribers. The subscription shares represent around 28.06% of the enlarged issued share capital of OP Financial Investments. The estimated net proceeds of about HK$1.553 billion will be used for pursuing investment in undervalued companies listed on A-share and H-share markets; pursuing investment in and merger and acquisi...
Daiwa tweaks Yuexiu REIT (00405) to HK$5.66 Daiwa Research fine-tuned its target price for Yuexiu REIT (00405) to HK$5.66 from HK$5.58, and maintained its "outperform" rating. The research house believes Yuexiu REIT's new acquisition is yield-accretive, and would provide support to its DPU growth from 2018 onward. On 14 November, Yuexiu REIT stated that it will acquire a 67% stake in Wuhan Yuexiu Fortune Centre, an office/commercial property, from its parent Yuexiu Property (00123) for CNY2.28 billion. Daiwa said the average acquisition cost for this deal is...
FB Mining (02212) may buy stake in marble mining firm Future Bright Mining (02212) said it entered into a non-legally binding memorandum of understanding in relation to the proposed acquisition of 51% equity interest in Jiangxi Yi Wang Mining Company Limited. The target company is located in the industrial park of Yongfeng County, Jian City, Jiangxi province south, PRC, with 150,000 m2 of stone processing base and 0.474 km2 of marble mines, and is engaged in mining, processing and sales of marble, and provision of consultation on stone-related knowledge to private enter...
DB lowers Guangdong Invest (00270) to HK$13.2 Deutsche Bank lowered its target price for Guangdong Investment (GDI)(00270) to HK$13.2 from HK$13.5, and maintained its "buy" rating. The research house fine-tuned its earnings forecasts in 2017/19, but raised its forecast by 10% in 2018, driven by higher earnings assumptions for Water Group HK, and a higher profit contribution from Guangdong Land. DB now factored in Guangdong Investment adding 500ktpd of water capacity in 2018 on the back of the company's strong water capacity addition in the first 8 months...
Yuan Heng Gas (00332) subsidiary wins arbitration case Yuan Heng Gas (00332) said its indirect wholly-owned subsidiary Guangzhou Ju Yuan Investment Development Company Limited received an arbitral award from the China Guangzhou Arbitration Commission. Such arbitral award orders Zhenrong Storage, Quanzhou Zhenrong Petrochemical Terminal Company Limited and Forever Fortune Holdings Limited to jointly and severally pay to Ju Yuan the investment of about Rmb190.75 million paid by Ju Yuan to Zhenrong Storage; financing costs for the investment as calculated at a rate of 0.05% per day on Rmb100 million...
DB cuts Dongjiang Env (00895) to HK$13.6 Deutsche Bank cut its target price for Dongjiang Environmental (00895) to HK$13.6 from HK$14.7, and maintained its "buy" rating. The research house said China usually strengthens environmental enforcement during the last three years of Five-Year Plan periods, as the country gets closer to assessment deadlines. DB expects the same to take place from 2018. It also expects these factors to benefit this laggard sector, together with improving cashflow profile/earnings quality with selective companies over the next few years. It...
DB lowers Guangdong Invest (00270) to HK$13.2 Deutsche Bank lowered its target price for Guangdong Investment (GDI)(00270) to HK$13.2 from HK$13.5, and maintained its "buy" rating. The research house fine-tuned its earnings forecasts in 2017/19, but raised its forecast by 10% in 2018, driven by higher earnings assumptions for Water Group HK, and a higher profit contribution from Guangdong Land. DB now factored in Guangdong Investment adding 500ktpd of water capacity in 2018 on the back of the company's strong water capacity addition in the first 8 months of...
Landsea PPT (00106) 10-month contracted sales down 26% Landsea Green Properties (00106) said the contracted sales (including projects of the Group engaged in entrusted development management) of "Landsea Products" (referring to development operation fully managed by the Group) of the Group ended 31 October 2017 amounted to about Rmb16.722 billion, a decrease of 25.99% from the same period last year, with contracted gross floor area of about 767,661 square metres In October, the contracted sales (including projects of the Group engaged in entrusted development management) of the Group togeth...
GT Steel Group (08402) retail IPO 115x over-subscribed GT Steel Construction Group (08402) said its retail offering was over-subscribed by about 115.2 times and the placing was moderately over-subscribed. The offer price has been determined at HK$0.54 per share, near the lower end of the indicative price range of HK$0.5 to HK$0.7. The estimated net proceeds amount to about HK$35.9 million. Dealings in shares of GT Steel Construction Group are expected to commence tomorrow morning, with a board lot size of 5,000 shares each. GT Steel Construction Group designs, supplies, ...
Jefferies lifts Tencent (00700) to HK$445 Jefferies Research lifted its target price for Tencent Holdings (00700) to HK$445 from HK$405, and reiterated its "buy" rating. The research house said Tencent's 3Q result was a solid print led by online game, digital content, payment and cloud. Jefferies expects its mobile survival games to show strong gamer enthusiasm as China's mobile gaming turns increasingly social-driven. Cross-media IP strategy drives synergy across its content-related business. Near-term impact on news ad product due to optimization effort does not change its long-term vie...
GR Properties (00108) to buy London commercial building GR Properties (00108) said it agreed to purchase a property in London at GBP134.5 million (equivalent to about HK$1,385.35 million). The property is located at 100 St Pauls Churchyard, London, the UK. It is a grade A commercial building with a net lettable floor area of about 123,781 square feet, among which the office accommodation, the retail accommodation, and the ancillary and storage area have a net lettable floor area of 100,774 square feet, 20,083 square feet and 2,924 square feet respectively. The...
Hao Tian Dev (00474) may buy TV & events production firm Hao Tian Development (00474) said the Group expresses its intention to purchase the entire issued share capital of Done and Dusted Productions Limited, a company incorporated in the United Kingdom. The target company is principally engaged in the business of television and events production and has staged and/or filmed events such as The Victoria's Secret Fashion Show, Stand Up To Cancer, BAFTA TV Awards, Laureus World Sports Awards, Nickelodeon Kids Choice Sports Awards, CNN Heroes and has also filmed some of the big...
United Lab insulin products' production application accepted The United Laboratories (03933) said it has received the notices of acceptance of application for production in relation to insulin aspart, insulin aspart injection (specification: 3ml: 300 units (refilled pen-type)), insulin aspart injection (specification: 3ml: 300 units (disposable pen-type)), insulin aspart 30 injection (specification: 3ml: 300 units (refilled pen-type)) and insulin aspart 30 injection (specification: 3ml: 300 units (disposable pen-type )) of the Group from Guangdong Food and Drug Administration during the period from 10 to 13 Nove...
UBS raises PICC Group (01339) to HK$5.2 UBS Global Research raised its target price for PICC Group (01339) to HK$5.2 from HK$4.8 and reiterated its "buy" rating. The research house said the target price reflects its new forecasts for PICC Property and Casualty (02328). It thinks PICC Group is a better alternative for PICC P&C exposure, as the implied P/BV for its life business is still considered unreasonably low at about 0.1x. UBS raised its our 2017-19 earnings forecasts for PICC Group by 7-8% to reflect its increased earnings estimates for PICC P&C...
Canvest Env (01381) awarded Maoming WTE plant PPP project Canvest Environmental Protection (01381) said it was awarded the waste-to-energy plant public-private-partnership (PPP) project located in Dianbai district of Maoming city of Guangdong Province by Bureau of Housing, Urban and Rural Construction of Dianbai District, Maoming City. The daily municipal solid waste processing capacity of the Dianbai WTE Plant shall be 2,250 tonnes. The Dianbai WTE Plant shall be constructed in two phases, of which the Processing Capacity of phase I shall be 1,500 tonnes and phase II shall be 750 tonnes.The ...
UBS raises PICC P&C (02328) to HK$20 UBS Global Research raised its target price for PICC Property and Casualty (02328) to HK$20 from HK$15.8, and maintained its "buy" rating. The research house said 3Q results at major P&C insurers reinforce its view that expense controls should mitigate pricing pressure from motor insurance pricing deregulation. UBS reduced its 2018-19 combined ratio assumptions by 50-60bp. It believes PICC P&C's valuation still prices in a substantial deterioration in its combined ratio. UBS raised its 2017-19 NPAT estimates by 10-15% to reflect PICC P...
HKR Int'l (00480) 1H net up 25.5% to HK$763m; div HK3 cts HKR International (00480) said its profit attributable to shareholders for the six months ended 30 September 2017 rose 25.5% year-on-year to HK$763 million. Basic and diluted earnings per share were HK56.5 cents. Turnover amounted to HK$883 million, a decrease of 17.7% from a year earlier. The proposed interim dividend is HK3 cents (2016: nil) per share, payable on20 December
China Soft Power (0139) further raises stake in CMBC Capital China Soft Power Technology (00139) said it acquired 4.5 million shares of CMBC Capital (01141) yesterday at about HK$2.93 million (including transaction costs). After such purchase, China Soft Power holds about 7.92% interests in CMBC Capital.
E-Commodities (01733) buys back 2.16m shares yesterday E-Commodities (01733) said it repurchased an aggregate of 2.16 million shares yesterday at the highest and lowest price of HK$0.73 and HK$0.72 per share, for about HK$1.56M (before brokerage and expenses). The shares repurchased represent around 0.0684% of the existing total number of shares of E-Commodities in issue. To-date, E-Commodities has repurchased a total of 7.88 million of its own shares. It will subsequently cancel the repurchased shares.
China SCE Property (01966) Chairman further adds 1.3m shares China SCE Property (01966) said its Chairman and controlling shareholder Wong Chiu Yeung has acquired an aggregate of 1.3 million shares on the market yesterday with an average purchase price of HK$3.3266 per share. After such purchase, Wong holds about 52.12% interests in China SCE Property.
China Grand Pharm's JV to buy shares in medical device firm China Grand Pharmaceutical and Healthcare (00512) said its joint venture company formed with East Ocean Capital (Hong Kong) Company Limited, an indirect non-wholly owned subsidiary of controlling shareholder China Grand Enterprises Incorporation, will subscribe in aggregate 1.04 million preferred shares of Conavi Medical Inc. at about US$7.5 million. The target company is incorporated in Canada, and is a medical device company with innovative cardiovascular and intravascular imaging technology. The JV also obtains the twenty years exclusive distribution rig...
China South Air (1055) passengers carried up 7.9% in October China Southern Airlines (01055) said it carried about 11.03 million passengers in October an increase of 7.92% year-on-year and 5.21% month-on-month. For the first ten months of 2017, the accumulated number of passengers carried amounted to about 105 million, up 9.42% year-on-year. Passenger capacity (measured by available seat kilometres (ASK)) of the Group rose 9.87% in October as compared to the same period last year. The passenger load factor was 82%, representing an increase of 0.43 percentage point as compar...
Nomura ups Tencent Holdings (00700) to HK$458 Nomura lifted its target price for Tencent Holdings (00700) to HK$458 from HK$380 factoring in the value of the Sogou and China Literature (00772) stakes and maintained its "buy" rating. The research house sees margin pressure continuing in 3Q as the non-GAAP operating margin remains on a downward trend, likely driven by investment in video content and higher revenue contributions from payment and cloud businesses. Nomura noted that ad revenue on Tencent Video remains robust at over 70% growth,...
Air China (00753) passengers carried up 5.4% in October Air China (00753) said it carried about 8.99 million passengers in October, an increase of 5.4% year-on-year and 5.8% month-on-month. For the first ten months of 2017, the accumulated number of passengers amounted to about 84.36 million, up 4.2% year-on-year. Passenger capacity (measured by available seat kilometers (the ASK)) and passenger traffic recorded a year-on-year increase of 8.6% and 8.1% in October. The overall passenger load factor was 81%, representing a decline of 0.4 percentage points as compared to the same peri...
China Railway (00390) wins bids for Rmn41.32bn projects China Railway Group (00390) said it has recently won bids for 24 domestic material projects and 2 overseas material projects amounting to about Rmb41,319.91 million, representing about 6.46% of the operating revenue of China Railway in 2016 prepared under the China Accounting Standards.
UBS lifts China Gas (00384) to HK$22.5 UBS Global Research raised its target price for China Gas Holdings (00384) to HK$22.5 from HK$21.5, and maintained its "sell" rating. Following its positive profit alert, the research house raised its earnings forecasts for FY2018-20 by around 9% on higher connection volume assumption to 3.7m for FY2018, and 4.6m for FY2019, from 3.3m and 4.2m respectively. UBS believes the pace of new households connection has exceeded management's target of 3.5m for FY2018 so far, because the pace of coal-to-gas switching has been faster than ...
Ali Health (00241) 1H loss narrows to Rmb90.91m; no div Alibaba Health Information Technology (00241) said its loss attributable to owners of the parent for the six months ended 30 September 2017 narrowed to Rmb90.91 million from Rmb102 million for the same period in 2016. Basic and diluted loss per share was Rmb1.07 cents. Revenue amounted to Rmb889.7 million, an increase of 15.2 times from a year earlier. Gross profit surged 4.4 times year-on-year to Rmb255 million. Such strong growth in revenue and gross profit was mainly underpinned by the rapid...
HSBC liftsTowngas China (01083) to HK$8 HSBC Global Research raised its target price for Towngas China (TCCL) (01083 ) to HK$8 from HK$6.1, and maintained its "buy" rating. The research house witnessed the development of the government's effort in converting energy use from coal to natural gas during its recent site visits in mainland China. Based on its discussions with government regulators in Beijing, HSBC believes local subsidies in both urban and rural areas are in place to support end-users to switch from coal to gas. Since the beginning of 2017, TC...
Morgan lifts CR Gas (01193) to HK$33.6 Morgan Stanley raised its target price for China Resources Gas (CRG) (01193) to HK$33.6 from HK$32.5, and maintained its "overweight" rating. The research house said the removal of gas tariff policy overhang in June, and the government's initiative for rural areas' coal-to-gas conversion through its "2+26 cities" plan has helped to drive the gas stocks year-to-date. But CRG still looks attractive at current levels. Morgan adjusted its 2017-19 earnings estimates by 0.6%-1.7% mainly due to the changes in gas sales volume growth...
Morgan raises China Gas (00384) to HK$23.3 Morgan Stanley raised its target price for China Gas Holdings ( 00384 ) to HK$23.3 from HK$17.9, and downgraded its rating to "equal-weight" from "overweight". The research house said the removal of gas tariff policy overhang in June, and the government's initiative for rural areas' coal-to-gas conversion through its "2+26 cities" plan has helped to drive the gas stocks year-to-date. China Gas has been particularly aggressive at the conversion, with ambitious three-year targets. With the positives basically priced in, resulting in ...
HSBC ups China Resources Gas (01193) to HK$28 HSBC Global Research raised its target price for China Resources Gas (CRG)( 01193 ) to HK$28 from HK$26, and maintained its "hold" rating. The research house witnessed the development of the government's effort in converting energy use from coal to natural gas during its recent site visits in mainland China. Based on its discussions with government regulators in Beijing, HSBC believes local subsidies in both urban and rural areas are in place to support end-users to switch from coal to gas. HSBC appreciates CRG...
SH Electric (02727) plans to issue Rmb3bn exchangeable bonds Shanghai Electric (02727) said it proposes to issue exchangeable corporate bonds of no more than Rmb3 billion by way of non-public offer. The proceeds shall be used for, including but not limited to, repayment of debts and supplement of working capital of Shanghai Electric.
GW Tiandi (01232) wins bid for Nanjing land at Rmb255m Golden Wheel Tiandi (01232) said it has succeeded in the public auction to acquire the land use right of a land parcel in Nanjing City, Jiangsu Province, the PRC for about Rmb254.8 million. The land parcel is situated north of Wutai Road, east of Xintang Road in Gaochun District, Nanjing City, Jiangsu Province and is close to a metro station and transportation hub. The total site area of the land parcel is about 22,739 square metres and its plot ratio shall not exceed 1.8. The land p...
Bestway Global (03358) retail IPO 6.7x over-subscribed Bestway Global (03358) said its retail offering was over-subscribed by about 6.68 times and the international offering was moderately over-subscribed. The offer price has been determined at HK$4.38 per share, the lower end of the indicative price range of HK$4.38 to HK$5.8. The estimated net proceeds amount to about HK$1,094.1 million. Dealings in shares of Bestway Global are expected to commence tomorrow morning, with a board lot size of 500 shares each. Bestway Global predominantly designs, develops, manufactures...
Nomura lifts Goldwind (02208) to HK$13.73 Nomura lifted its target price for Xinjiang Goldwind Science & Technology (02208) to HK$13.73 from HK$11.53, and reiterated its "buy" rating. The research house raised its EPS forecasts by 4-8% for FY2017-19, mainly by raising assumptions for wind farm disposal gains. It said the stock still trades at very attractive 9.6x FY2018 P/E, which is substantially lower than the peer average of 16x. Nomura raised its wind farm disposal gains assumption to CNY1.1bn p.a. in FY2017-19 (from CNY0.7-0.9bn p.a.) given higher...
Sun Hing Printing (01975) retail IPO 44.1x over-subscribed Sun Hing Printing (01975) said its retail offering was over-subscribed by about 44.12 times and the placing was slightly over-subscribed. The offer price has been fixed at HK$1.38 per share, near the upper end of the indicative price range of HK$1.05 to HK$1.45. The estimated net proceeds amount to about HK$135.6 million. Dealings in shares of Sun Hing Printing are expected to commence tomorrow morning, with a board lot size of 4,000 shares each. Sun Hing Printing is a one-s...