Dongfeng Motor 489

Dongfeng Motor 489

Postby winston » Tue Aug 05, 2008 2:38 pm

Citigroup initiates coverage of Dongfeng Motor at "buy"
By Chris Oliver

HONG KONG (MarketWatch) -- Citigroup has recommended investors buy shares of Hong Kong-listed Dongfeng Motor (HK:489), noting the firm, which has stakes in three Chinese automobile joint ventures, has demonstrated an ability to grow its passenger vehicle business faster than the general industry since listing.

In the report dated Monday, the broker noted Dongfeng should benefit from a broad line up of cars and trucks and a deep reservoir of new vehicle models.

"Dongfeng is our preferred large-cap exposure to China's car market among Hong Kong-listed China auto stocks," wrote Citi analysts headed by Gerwin Ho.

Citi has set a price target of HK$4.20 a share, about 27% above Dongfeng's Friday close of HK$3.31
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Fri Aug 08, 2008 9:36 pm

Dongfeng Motor says emission rule slows July sales

Dongfeng Motor Group (0489), China's third-largest automaker, said its vehicle sales growth slowed to a single-digit rate in July as stricter emission standards curbed truck sales.

The firm moved 71,854 vehicles in July, up 3.37 percent from a year earlier, with sales of passenger cars rising 18.46 percent but sales of commercial vehicles down 26.31 percent.

A Dongfeng executive blamed the weak truck sales last month on the introduction of Euro III emission standards on July 1, which spurred customers to make purchases before then.

Vehicle sales in the first seven months rose 24.54 percent year on year.

REUTER
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Thu Aug 28, 2008 7:56 am

Dongfeng net leaps
Stephanie Tong

Leading mainland automaker Dongfeng Motor Group (0489) saw its interim net profit this year jump 27.1 percent to 2.47 billion yuan (HK$2.82 billion) on increased sales volume.

Earnings per share were 28.69 fen. No interim dividend was proposed. Turnover grew 31.5 percent to 37.9 billion yuan as the number of vehicles sold amounted to 587,412 units, up 27.7 percent - 0.7 percentage point lower than the growth rate a year earlier.

"In the second half of 2008, the increase in sales of commercial and passenger vehicles will both slow while raw material costs will soar," said Dongfeng chairman Xu Ping in a company statement.

Dongfeng has a market share of 11.3 percent in terms of sales volume among domestic automakers.

Its shares closed at HK$3.02, up 0.67 percent.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Mon Mar 16, 2009 5:35 am

Norway hit for Dongfeng over Burma arms sale

Norway's state pension fund, one of the world's biggest investors, has pulled out of Dongfeng Motor over its sale of military equipment to the Burmese junta, the finance ministry said on.

German engineering giant Siemens, which has been implicated in several corruption scandals, had also been placed ''under observation'' due to ethical concerns, Finance Minister Kristin Halvorsen said.

The fund has sold off its 30 million kroner (HK$33.97 million) stake in Dongfeng over its sale of some 900 military trucks to Burma.

That move came after Norway in October said the fund would no longer invest in companies that send military equipment to the country's military junta.

Dongfeng is thus the first company to be blacklisted by the fund over the new rule and is also the first mainland company to be ruled out as an investment target.

AGENCE FRANCE-PRESSE
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Thu Apr 16, 2009 7:22 am

Dongfeng banks on state help to drive sales by Alfred Liu, The Standard

Dongfeng Motor Group (0489) aims to boost sales by as much as 10 percent this year backed by the government's efforts to support the automobile market in the mainland.

"We expect to see 5 to 10 percent growth of sales this year and may adjust upward the target in the middle of the year," chairman Xu Ping said.

The mainland automaker sold a total of 264,695 vehicles in the first quarter, up 8.9 percent from the same period last year.

The company sold 198,255 passenger vehicles in the first quarter, up 5.5 percent year-on-year.

Commercial vehicle sales rose 20.41 percent to 66,440 in the period. "We are optimistic about our profit in 2009," Xu said. Dongfeng is benefiting from lower raw materials costs this year, according to executive president Liu Zhangmin. The firm's gross profit margin is sustainable for the whole year, Xu said.

Dongfeng has no plans to purchase US brands, but will not rule out any possibility. It hopes to ensure its capacity utilization of more than 80 percent.

Dongfeng shares fell 1.52 percent yesterday to close at HK$5.17.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Thu Apr 16, 2009 7:23 am

The reason why I'm following this counter is because Temasek has a stake in them ...
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Wed Oct 07, 2009 11:22 am

Not vested. From Phillips:-


Risk
Fuel and material cost up greatly.
Deterioration of auto demand from further crisis.
Popularity of new models launched by the joint ventures.


Valuation
Thanks to the outbreak of auto consumption in China's Tier II and Tier III cities and government incentive policies, PV sales in China continued to report high growth and CV began to show the trend of rebound. We expect revenue growth of 15% and 13% in 2009 and 2010 respectively, and EPS of RMB0.61/HK$0.69 and RMB0.70/HK$0.80.

The Company historically traded on 3X-23X P/E, versus current 11X of its global comparable peer. As one of the three largest domestic automobile enterprises located in the Middle West and high share of low displacement sedan, Dongfeng Motor's comprehensive product mix enhances the Company's risk resistant capability.

Combined with its potential capacity expanding, it is expected to outperform the average in the sector. Even considering the obvious cyclicity of this sector in accordance with macro economy, we think it deserved a 12 X P/E with a 12-month TP of HK$9.6 with a Buy rating.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Mon Dec 07, 2009 8:19 am

Not vested. From Dr. Check, The Standard HK:-

At first glance, I like Dongfeng Motor Group (0489). It makes and sells commercial and passenger vehicles along with engines and auto parts.

Dongfeng is one of the big three carmakers in China. Even under adverse conditions, Dongfeng sold 1.058 million units last year, up 11.4 percent from 2007. This year various stimulus policies for the automobile industry launched by the central government helped accelerate growth.

October sales jumped a hefty 76.9 percent year-on-year. From January to September, Dongfeng made a profit of 4.6 billion yuan (HK$5.22 billion), up from 4 billion yuan for 2008.

BNP Paribas set a target of HK$14.15 for the stock.

Although the shares have risen from HK$1.84 to a historical high of HK$12.76 in the past year, the company's expected price-earnings ratio stands at only about 14 times based on their current price of HK$11.96. Near HK$11.20, I would really like this stock.

http://www.thestandard.com.hk/news_deta ... 91207&fc=1
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby winston » Thu Nov 18, 2010 8:24 pm

Not vested. From Phillips:-


Risk
Fuel and material cost up greatly.
Deterioration of auto demand from further crisis.
Popularity of new models launched by the joint ventures.


Valuation

The second half of 2010 will face various uncertainties in the macro-economy level. The automobile industry tends to grow at normal speed but the seasonal fluctuation will aggravate. Meanwhile, the upward growth of national economy will continue.

The increasing consumption capacity will also provide a solid foundation for the sustainable growth of the automobile industry. The new subsidy policy on energy-efficient and new energy automobiles will further stimulate the market.

As the urbanization process accelerates, the second and third tier automobile market will grow fast and boost opportunities for the industry.

We expect revenue growth of 30% and 10% in 2010 and 2011 respectively, and EPS of RMB1.33/HK$1.54 and RMB1.47/HK$1.71.

Combined with its potential capacity expanding and the introduction of new models, we think Dongfeng deserved 11x P/E, with a 12-month TP of HK$18.8 based on 2011E EPS, and Buy rating.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104556
Joined: Wed May 07, 2008 9:28 am

Re: Dongfeng Motor 489

Postby eauyong » Wed Mar 30, 2011 3:16 pm

Dongfeng (00489) year net up 76% to Rmb10.98bn; div Rmb0.18

<ET Net News Agency, 30 March 2011>

Dongfeng Motor Group (00489) said its net profit climbed 75.7% to Rmb10.98 billion for the year ended 31 December 2010.

Its basic earnings per share were Rmb1.2745.

The revenue was Rmb122.4 billion, an increase of 33.4%; with a gross profit of Rmb26.36 billion, rising by 50.8%.

The final dividend will be Rmb18 cents (2009: Rmb9 cents) per share, subject to the approval of shareholders at the forthcoming annual general meeting. (HL)
User avatar
eauyong
Foreman
 
Posts: 380
Joined: Sat May 10, 2008 11:01 am

Next

Return to D to K

Who is online

Users browsing this forum: No registered users and 2 guests