Beijing Enterprises Water 0371

Re: Beijing Enterprises Water 0371

Postby winston » Mon Mar 30, 2015 7:25 pm

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BJ ENT WATER(00371.HK) annual net profit up 65.5% to HK$1.79B; final div HK4.8 cents

BJ ENT WATER (00371.HK) +0.160 (+3.239%) Short selling $14.11M; Ratio 8.041% announced that for the last year as of the end of December, the net profit rose 65.5% yearly to HK$1.79 billion.

The basic EPS equaled HK20.76 cents; a final dividend of HK4.8 cents was declared. The dividend equaled HK2.7 cents in the year-ago period.

Meanwhile, the turnover rose 39.33% yearly to HK$8.93 billion; gross profit rose 39.53% yearly to HK$3.50 billion.

Source: AAStocks Financial News
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Re: Beijing Enterprises Water 0371

Postby winston » Tue Mar 31, 2015 10:31 am

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Boom in water treatment sector

BEW’s FY14 net profit was 4.3% below our expectation due to lower-than-expected revenue of sewage treatment and build-transfer (BT) contracts and lower gross margin, but 10% above consensus.

Our positive stance is unchanged as we expect the robust capacity growth to continue.

We lower FY15-16 EPS by 1-4% to reflect more reasonable gross margins, but keep our DCF-based target price unchanged. Maintain Add.

The addition of new projects, expansion into industrial waste water and the potential lift of the national standards for waste water are potential catalysts for the stock.

Source: CIMB

https://brokingrfs.cimb.com/uCKrkACypbL ... VVhL01.pdf
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Re: Beijing Enterprises Water 0371

Postby winston » Thu May 07, 2015 5:58 pm

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Deutsche maintains BJ ENT WATER(00371.HK) at Buy with target lifted to $7.2

Deutsche Bank said in a report that BJ ENT WATER(00371.HK) -0.090 (-1.424%) Short selling $4.41M; Ratio 3.037% could see more upside in share price.

A higher PE was justified for BJ ENT WATER as the company was regarded as the industry leader with unique advantages, such as experienced management team and low SOE costs.

The company was expected to deliver growth even higher than the market expectations. Even though BJ ENT WATER's valuation was cheaper than CHINA EB INT'L (00257.HK) -0.100 (-0.679%) Short selling $37.84M; Ratio 22.972% and A share peers, the stock had cumulatively declined 15% over the past two weeks, which indicated a buying signal.

BJ ENT WATER's target price was raised from $6.6 to $7.2 and its Buy rating was kept unchanged.

Source: AAStocks Financial News
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Re: Beijing Enterprises Water 0371

Postby winston » Thu Mar 24, 2016 7:34 am

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Beijing Enterprise Water (371 HK)

Being the largest waste water treatment company in China, BEW is well positioned to capture the growth opportunity in the 13th FYP period.

As a SOE, BEW could obtain funds at a lower cost and is in a better position to win new projects.

We expect BEW to record a CAGR of 25% in net profit from 2015 to 2017 fuelled by
a) further market penetration into suburbs to support organic growth,
b) market consolidation and privatisation of state-owned facilities allowing ample M&A opportunities, and
c) nationwide tariff hikes and facility upgrades.

On the valuation front, the stock is trading at around 13x 2016F PE, which is -2S.D. below its historical mean and close to the low end of its valuation range.

Source: UOBKH
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Re: Beijing Enterprises Water 0371

Postby winston » Fri Aug 12, 2016 7:58 am

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There were still many laggards, and one of them is Beijing Enterprises Water Group (0371).

It is mainly engaged in water treatment, construction and technical services for water environmental renovation.

In May, BEWG and Beijing Enterprises Clean Energy (1250) jointly announced their bid to go into the setting up of photo voltaic power stations, micro-grid energy storage and energy performance contracting business.

BEWG's earnings last year rose by 36.8 percent year-on-year to HK$2.46 billion.

Morgan Stanley has started to cover BEWG and gave it an "overweight" rating and a price target of HK$6.30.

Source: Dr Check, The Standard
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Re: Beijing Enterprises Water 0371

Postby winston » Tue Sep 20, 2016 9:52 am

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Investment Rating

As a national leading company in water service, its strength in winning PPP contracts and the favourable returns on PPP projects guarantee the quality growth of performance.

We remain optimistic about its fast growth of performance. So we give the company an estimation of target price of HKD7.20, equivalent to 20X expected P/E in 2016. Also, the "Buy" rating is maintained. (Closing price as at 14 September 2016)
Catalyst

Continuous expansion of the production capacity of water treatment service
Rapid growth of water environmental renovation projects
New progress of PPP funds

Risk factors
The growth of production capacity and new projects failed to meet expectations.

Source: Phillips
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Re: Beijing Enterprises Water 0371

Postby winston » Thu Apr 20, 2017 10:27 am

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Beijing Enterprises Water 北控水务(371 HK)

BEWG, a leading water company in China, has shown explosive growth based on Chinese PPP initiatives.

In 2016, BEWG added 3.7m tons of daily designed capacity in water treatment, boosting its total capacity to 27.2m tons.

In 2017, management guides that it would add about 3m tons of daily treatment capacity, representing a growth of 11%.

They target 40m tons of daily treatment capacity in 2018.

Management expects to achieve a 30% yoy net profit growth in 2017, which will be boosted by construction services in the water and environmental renovation segment.

We suggest a BUY recommendation with a target price of HK$7.60.

Source: UOBKH
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Re: Beijing Enterprises Water 0371

Postby winston » Tue Jun 20, 2017 8:22 am

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Water environment projects and sewage treatment are part of a long-term national policy, and it's believed that profit growth at China environment industry leader BJ Ent Water (0371) will stimulate share prices.

In addition to the traditional water supply and sewage business, sludge disposal, seawater desalination and some other new areas will become growth points.

In 2017, the company will strictly adhere to the group's 13th Five-Year Strategic Objectives, and work towards an ecological enterprise by setting up its own ecological system.

It will also endeavor to grasp the huge opportunities in the public-private partnership segment and secure more water environment projects.

JPMorgan lifted BJ Ent Water's 2017-2018 earnings per share by about 15 percent to factor in the growth prospect of construction income.

Investment rating was reiterated at "overweight," and target price revised up to HK$7.50.

Source: Dr Check, The Standard
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Re: Beijing Enterprises Water 0371

Postby winston » Tue Jul 25, 2017 2:37 pm

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<Research Report>C Suisse Upgrades BJ ENT WATER(00371.HK) to Outperform with Target Lifted to $7.8

Credit Suisse, in its report, said with more optimistic forecasts on PPP income and higher water treatment tariffs, the broker lifted BJ ENT WATER (00371.HK)'s FY17-19 EPS estimate by 16-61%, expecting the company's FY18 P/E to be about 11x.

Valuation is attractive, and the broker listed BJ ENT WATER as the top pick among water treatment stocks, with rating upgraded from Underperform to Outperform and target price lifted from $4 to $7.8.

Source: AAStocks Financial News
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Re: Beijing Enterprises Water 0371

Postby winston » Tue Jul 25, 2017 2:39 pm

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Jun 15, 2017

<Research Report>JPM Lifts BJ ENT WATER (00371.HK) Target to $7.5; Rated Overweight


JP Morgan, in its report, lifted BJ ENT WATER (00371.HK)'s 2017-2018 EPS by approximately 15% to factor in the growth prospect of construction income.

The stock is now trading at 11x 2018 P/E and 3.4% dividend yield, which was appealing.

The investment rating was reiterated at Overweight and the target price was revised up to $7.5 from $6.5.

Source: AAStocks Financial News
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