Dalian Port 2880

Dalian Port 2880

Postby winston » Fri Aug 01, 2008 9:56 am

Not vested.

Dalian Port riding the wave
Benjamin Scent
Friday, August 01, 2008

Dalian Port (2880) is a terminal operator in the mainland whose unique mixture of business will allow it to withstand a sharp slowdown in Chinese exports to the United States.

Citi has the operator of northeastern China's largest port on its "Fresh Money Ideas" list, saying it is the sole listed port exposed to China's ever-increasing thirst for oil. Dalian Port, which runs the mainland's fourth-largest oil port, handled 34.4 million tonnes of oil in 2007, accounting for 54 percent market share in northeast China.

The company is making good money on its oil business, earning an EBITDA margin of 75 percent on the segment in 2007.

Dalian Port is also a key beneficiary of the revitalization of northeast China, Citi said.

"We view Dalian Port as one of the most defensive plays in the Chinese port universe," Merrill Lynch analyst Haibo Tang said. "Dalian Port is well positioned to benefit from the revitalization of the regional economy and the northeast's increasing dependence on imported oil."

The company is well balanced between growth and defensiveness, he said.

Tang has a "buy" recommendation on the stock with a target price of HK$6.30, indicating 34 percent upside from the current price of HK$4.69.

Despite concerns that other mainland port operators will report sharp declines in earnings this year, Tang predicts Dalian Port will report 2008 net profit rising 48 percent to 902.7 million yuan (HK$1.03 billion), from 611.37 million yuan in 2007.

The Dalian port benefits from its hinterland's lower proportion of exports to the United States, as well as a structure geared toward exports of industrial products like machinery and transport infrastructure, analysts at China International Capital Corp wrote.

Goldman Sachs analyst Edward Chan said Dalian Port is attractively valued and is investors' best port pick amid the US slowdown. It has been trading recently at a 20 to 30 percent discount to Chan's 2009 estimated net asset value of HK$6.52.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: Dalian Port 2880

Postby winston » Fri Feb 20, 2009 6:02 pm

DJ MARKET TALK: Dalian Port EPS May Rise On Oil Reserve - CS

1220 [Dow Jones] STOCK CALL: Credit Suisse expects Dalian Port's (2880.HK) EPS this year will rise 4.5% over current forecast of CNY0.22, if all of its 30 storage tanks in coastal Dalian city (totaling 3 million tons) filled by country's strategic oil reserve. House expects company's oil throughput +11.9%, but earnings impact likely minimal as handling fee lower than other oil products, oil terminal business also accounts for less than half of company's total earnings.

Adds, China's latest loan-for-oil deal with Russia will have small impact on Dalian Port, as those oil imports will likely serve inland cities, not coastal. Keeps Outperform rating, target stays at HK$2.32. Stock down 1.7% at HK$2.33, vs HSI down 2.2%.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Dalian Port 2880

Postby winston » Fri Jul 11, 2014 8:44 pm

not vested

DALIAN PORT (02880.HK) 1Q net profit down 34.5%
2014-04-29

DALIAN PORT (02880.HK) 0.000 (0.000%) Short selling $1.40M; Ratio 3.472% announced that for the first quarter, the operating revenue rose 11.4% to RMB1.48 billion;

Net profit fell 34.5% to RMB120 million, representing underlying EPS of 3 fen.

During the period, excluding extraordinary gain and loss, the net profit fell 35.3% to RMB94.891 million.

Source: AAStocks Financial News
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Re: Dalian Port 2880

Postby winston » Fri Jul 11, 2014 8:47 pm

not vested

DALIAN PORT (02880.HK) rated Neutral with target reduced to $1.95 - GS
2014-03-31

DALIAN PORT (02880.HK) 0.000 (0.000%) Short selling $1.40M; Ratio 3.472% 's net profit gained 14% to RMB683 million last year, 8% and 7% lower than Goldman Sachs' and the market projections due to the higher-than-expected general sales and management expenses as well as interest expenses.

To reflect the results of last year, Goldman Sachs reduced the company's EPS forecasts for 2014-16 by 12-14%.

Accordingly, the target price was trimmed from $2.11 to $1.95, with the Neutral rating unchanged.

Source: AAStocks Financial News
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