State Securities give Geely Automobile strong buy rating-winpm

State Securities: give a strong buy rating of Geely Automobile hot column capital flows thousands of thousand shares stocks the latest Rating Rating diagnosis simulated trading client Sina App: Live on-line blogger to guide Sina Hong Kong APP: real time market exclusive reference stocks also worth the investment? What’s the problem? Where is the future of the way out? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. Investment highlights: revenue growth in the first half of 31%, gross margin was essentially flat over the same period in the first half of 2016, the company recorded operating income of 18 billion 89 million yuan, an increase of 31%; gross margin rose 0.1 percentage points to 17.7%, mainly because the company car just listed, has not formed the scale effect, expected in the second half will be improved, after the hair the interest rate will continue to rise; during the period, thanks to the continuous improvement of product structure and improve the efficiency of the channel, recorded net profit 1 billion 907 million yuan, an increase of 36%; EPS is 21.67. The new strong demand, the company raised full year target to 660 thousand vehicles: the first half of a total of 280 thousand and 300 new car sales, an increase of 11%; among them, the domestic market due to strong demand for the launch of a new SUV and the new imperial and a variety of cars, sales grew 15% to 269 thousand and 700; exports, by covering the market downturn the economic and political uncertainty environment, sales performance is still weak, down 40% to 10 thousand and 700 vehicles. In addition, due to the market’s response to new products, sales far exceed management expectations, the company raised the annual sales target to 660 thousand (the beginning of the target of 600 thousand). A new type of launch intensive, high-end route have been successful: at present, the Bo, imperial GS, SUV future demand, amounted to 50 thousand vehicles, 30 thousand vehicles and 10 thousand vehicles of orders in hand, indicating that the market is highly recognized for new products; the first half of the acquisition of Baoji and Shanxi Auto Parts Company Limited, will further enhance the SUV and the new high-end car production capacity, scale effect will gradually appear, gross margin is expected to achieve sustained improvement. In the second half, the company plans to launch a cost-effective small SUV vision X6, will further promote the strategic layout of the company’s SUV models. The imperial GL in the fourth quarter will be listed. Maintain strongly recommended rating, target price of HK $7.05, the platform of the R & D and production capacity matures, new product launch is accelerated, the high-end products accounted for improvement and scale effect ratio gradually will also enhance the company’s profitability; taking into account the company’s performance than expected, is expected to 2016-2018 EPS were 0.428 yuan, 0.539 yuan and 0.665 yuan (the original forecast were up 38% and 50% and 58%), giving 14 times 2016 PE, equivalent to the target price of 7.05 Hong Kong on相关的主题文章: