Sany Heavy Equipment 0631

Re: Sany Heavy Equipment 0631 IPO

Postby winston » Thu Apr 15, 2010 6:33 am

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

Coal digger set to unearth gains

Let's continue our search for worthy picks with a peek at Sany Heavy Equipment International Holdings (0631).

The company is the mainland's biggest manufacturer of coal excavating equipment.

It developed the country's first fully-automated combined coal mining unit. This allows for automated control of mining operations and transportation at the mine, as well as various support functions that enhance safety and efficiency.

For the six months to June 2009, sales revenue jumped 103 percent to 891.6 million yuan (HK$1.01 billion). Net profit for the same period was 250.2 million yuan, a surge of 222 percent.

Sany's share price reached a high of HK$10.36 in January. It closed at HK$8.23 yesterday.

CLSA is impressed with Sany's earnings growth, higher pricing, larger profit margin, support from its parent, and client mix.

HSBC (0005) expects Sany's net profit to enjoy a compound annual growth rate of 23 percent from 2010 to 2013 and gives it a target price of HK$8.60.

Dr Check advises buying Sany near HK$8, when it is at 18 times its 2012 expected earnings.

http://www.thestandard.com.hk/news_deta ... 00415&fc=7
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