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Gem-Year Industrial (601002) As Beneficiary of Express Railway Construction, Future Development Being Potential --- Neutral

  • Contributor:TX Investment Consulting
  • Date:Apr 14, 2009
  • Pages:4pages
  • Price:$60.00
  • File Type: Adobe Acrobat Reader®
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Excerpts:

In 2008, the company reported business turnover of Rmb1875mn (+46.84% yoy), net profit attributable to owners of parent of Rmb93.91mn (+150.29% yoy), and EPS of Rmb0.13. The company planned neither profit distribution nor reserves-equity transference & increase proposal. 

 

We project its 2009-2010E EPS to be Rmb0.21 and Rmb0.40, representing dynamic P/E ratio at 36x and 19x. Given a comparatively high dynamic P/E ratio, “Neutral” rating is temporarily given.

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