not vested
Three key reasons to BUY Emperor Watch & Jewellery:
• A leading player in the high-end luxury watch market in Hong Kong.
• A major beneficiary of growing affluence of Chinese consumers. Sales of luxury watches in China remain low on a per-capita basis. This points to a high growth potential.
• The stock is trading at 11x 2011F PE and 8x 2012F PE, attractive in view of the strong earnings growth potential.
Source: UOBKH