BBMG 2009

Re: BBMG 2009

Postby winston » Thu Aug 17, 2017 10:59 am

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May 18, 2017

<Research Report>UBS Lifts BBMG (02009.HK) Target to $5; Rated Buy

UBS, in its report, expected BBMG (02009.HK) to make a profit this year after two years of losses in the cement segment.

The broker expected that cement demand in BBMG's key markets, Beijing-Tianjin-Hebei (BTH), to increase by 5% yearly in 2017, against 1.5% growth in capacity.

UBS anticipated the establishment of Xiong'an New Area to boost cement demand by a 3.4% CAGR over the coming five years.

BBMG's property earnings looks flat in 2017 but start to pick up in 2018, so the broker lifted the 2017/18 EPS estimates by 30%/44% and raised the target price from $3.6 to $5, maintaining Buy.

Source: AAStocks Financial News
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Re: BBMG 2009

Postby winston » Wed Aug 30, 2017 9:09 am

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<Result Ann>BBMG (02009.HK) Interim Net Profit Up 1.39% to RMB1.846B; Nil Div

BBMG (02009.HK) announced the results for the half year ended June.

Net profit attributable to shareholders rose 1.39% yearly to RMB1.846 billion with EPS of 17 fen.

No interim dividend was declared.

Source: AAStocks Financial News
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Re: BBMG 2009

Postby winston » Wed Nov 08, 2017 10:02 am

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<Result Ann>BBMG (02009.HK) 3Q Net Profit Up 68.7%

BBMG (02009.HK) announced the report for the first three quarters ended September.

Net profit added 14.7% to RMB2.604 billion in accordance with China Accounting Standards for Business Enterprises with EPS of 24 fen.

For the third quarter, net profit gained 68.7% to RMB758 million with EPS of 7 fen.

Source: AAStocks Financial News
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Re: BBMG 2009

Postby winston » Sun Dec 17, 2017 8:53 am

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ASIA STOCKS TO WATCH Morgan Stanley Cuts BBMG from Buy to Sell


By Isabella Zhong

April 6, 2017

BBMG’s Hong Kong-listed shares (2009.HK) have surged 40% since the beginning of the week. The towering gain warrants a double downgrade, argues Morgan Stanley analyst John Lam.

Lam notes BBMG’s market cap based on the price of its H-shares yesterday imply an enterprise value per ton (EV/ton) of clinker capacity at CNY531/ ton, which is at a 29% premium to the average level of other Hong Kong-listed rivals.

The analyst also isn’t a fan of BBMG’s property business.

Also, we think the market may not be pricing in declining BBMG margin/earnings from its property business in 2017-2018 due to depletion of its low cost land bank in Beijing and loss contribution from Jidong Development's non-cement business, which put our 2017 and 2018 earnings estimates 20% below consensus.

Lam has downgraded BBMG from overweight to underweight and has slashed his target price on the stock from HKD4.65 a share to HKD3.10 a share, which implies 32% downside.

BBMG shares rallied as much as 63% earlier this week before it pared off its gains yesterday. The stock is up 1.4% this morning.

BBMG shares have been heavily bought this week following the unveiling of the Xiongan New Area in Hebei province last weekend.

The company is expected to be a major beneficiary of the mega project given Hebei is the largest market for its cement business.

Source: Barron's Asia

https://www.barrons.com/articles/morgan ... 1491532378
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Re: BBMG 2009

Postby winston » Sun Dec 17, 2017 8:53 am

not vested

ASIA STOCKS TO WATCH Morgan Stanley Cuts BBMG from Buy to Sell


By Isabella Zhong

April 6, 2017

BBMG’s Hong Kong-listed shares (2009.HK) have surged 40% since the beginning of the week. The towering gain warrants a double downgrade, argues Morgan Stanley analyst John Lam.

Lam notes BBMG’s market cap based on the price of its H-shares yesterday imply an enterprise value per ton (EV/ton) of clinker capacity at CNY531/ ton, which is at a 29% premium to the average level of other Hong Kong-listed rivals.

The analyst also isn’t a fan of BBMG’s property business.

Also, we think the market may not be pricing in declining BBMG margin/earnings from its property business in 2017-2018 due to depletion of its low cost land bank in Beijing and loss contribution from Jidong Development's non-cement business, which put our 2017 and 2018 earnings estimates 20% below consensus.

Lam has downgraded BBMG from overweight to underweight and has slashed his target price on the stock from HKD4.65 a share to HKD3.10 a share, which implies 32% downside.

BBMG shares rallied as much as 63% earlier this week before it pared off its gains yesterday. The stock is up 1.4% this morning.

BBMG shares have been heavily bought this week following the unveiling of the Xiongan New Area in Hebei province last weekend.

The company is expected to be a major beneficiary of the mega project given Hebei is the largest market for its cement business.

Source: Barron's Asia

https://www.barrons.com/articles/morgan ... 1491532378
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Re: BBMG 2009

Postby winston » Thu Feb 01, 2018 3:45 pm

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*M Stanley: BBMG (02009.HK) 2017 Profit Misses; Kept Underweight

<Positive Profit Alert>BBMG Expects 2017 Net Profit RMB2.7-3B, Up 12% at Most

BBMG (02009.HK) issued positive profit alert, expecting to record a net profit attributable to shareholders of the listed company of approximately RMB2.7-3 billion, representing a year-on-year increase of 0.5% to 11.7% and a net profit attributable to shareholders of the listed company after deducting non-recurring profit and loss of approximately RMB1.9-2.25 billion, representing a year-on-year increase of - 11.7% to 4.6%.

Source: AAStocks Financial News
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