Vinda International 3331

Re: Vinda International 3331

Postby winston » Fri Dec 17, 2010 4:06 pm

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DJ MARKET TALK: Vinda Down 1.8%; Horizontal Business Expansion

1538 [Dow Jones] Vinda International (3331.HK) is down 1.8% at HK$8.26 on modest volume, mostly ignoring the announcement that it is setting up a JV for a disposable diapers and sanitary napkin business; the JV is owned by Vinda (41%), a substantial shareholder (39%) and 2 private equity funds.

"We view this to be positive for the company's long-term development given that it will gradually diversify its single products risk," says Kim Eng.

The house adds, Vinda's financial strength is sufficient, with a healthy balance sheet; the company raised HK$264 million from a share placement in late September. KE has a Buy rating with a HK$10.08 target. Hengan International (1044.HK) is not feeling much of a threat, for now; the stock is down 0.5% at HK$66.85.

Source: Dow Jones Newswire
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Re: Vinda International 3331

Postby winston » Wed Aug 31, 2011 6:50 am

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

Vinda makes consumable papers and has a total production capacity of 370,000 tonnes per year. It also makes personal care products, such as diapers and sanitary napkins, that have higher profit margins.

Last year, the rising price of wood pulp - a key raw material - trimmed net gains to HK$368 million from HK$397 million in 2009. But wood pulp prices are expected to decline in the third quarter while Vinda has hiked its sale prices.

Standard Chartered has put a target of HK$11.20, or 14.6 times the 2012 expected earnings on the stock.

Citigroup expects core earnings to jump 46 percent next year and has put a HK$10.50 target on the stock - 20 percent higher than its current level.

http://www.thestandard.com.hk/news_deta ... 10831&fc=4
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Re: Vinda International 3331

Postby winston » Tue Oct 18, 2011 2:20 pm

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DJ MARKET TALK: HSBC Starts Vinda At Overweight; Recession-Proof

1403 [Dow Jones] STOCK CALL: HSBC starts Vinda International (3331.HK) at Overweight with a target price of HK$11.40.

It tips Vinda "a long-term winner in tissue paper," and says as a leading brand, Vinda will benefit from long-term growth in tissue paper consumption in China, which was 3.48kg per capita vs 24kg in the U.S. in 2010.

"Tissue paper is a recession-proof product based on the experience of developed markets," HSBC says.

The stock is down 6.2% at HK$7.90.

Source: Dow Jones Newswire
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Re: Vinda International 3331

Postby winston » Wed Apr 11, 2012 9:33 am

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DJ MARKET TALK: Vinda Likely To Fall; Placement, SAC Stake Buy

0809 [Dow Jones] Vinda International (3331.HK) is likely to fall, as the dilution concerns from the top-up placement is set to outweigh benefits of a stake increase by Swedish paper and hygiene products maker Svenska Cellulosa AB (SCA-B.SK).

Vinda is selling 42 million shares via a top-up placement of 42 million shares (placing price not yet been announced).

In a separate deal, SCA will buy another 5% stake of in Vinda at a price of HK$15.00 per share, representing a 22.0% premium over Vinda's Tuesday close of HK$12.30 (down 4.8%), which will give SCA a 22.6% stake in the Chinese household paper producer.

SCA says it intends to be among the leading players in China and "we have for this reason taken the decision to increase our ownership in Vinda."


Source: Dow Jones Newswire
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Re: Vinda International 3331

Postby winston » Fri Jun 08, 2012 11:37 am

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DJ MARKET TALK: BoA-ML Trims Vinda Target But Keeps Buy Call

1111 [Dow Jones] STOCK CALL: Bank of America - Merrill Lynch lowers Vinda International's (3331.HK) FY12/13 EPS forecasts by 13%/11%, due to trims in gross profit margin, option costs and a 4.4% dilution from new shares;

It trims Vinda target to HK$13.80 from HK$13.90 but keeps the stock at Buy and "Vinda remains one of our top staple picks" given the stronger earnings growth vs peers, attractive forward P/E of 16X, and its tighter relationship with Svenska Cellulosa AB.

"We expect Vinda's target P/E multiple to further expand and then narrow the gap with tier-one staple peers (over 24X, including Hengan International (1044.HK)) given its solid execution, the tighter alliance with SCA, and the venture into diapers."

Vinda rises 2.8% to HK$12.44.


Source: Dow Jones Newswire
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Re: Vinda International 3331

Postby winston » Mon Jun 11, 2012 8:08 pm

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VINDA INT'L (03331) rated Buy with target mildly cut to $13.8 by BofA ML
2012-06-08

Bank of America Merrill Lynch reduced the 2012/13 earnings forecast of VINDA INT'L (03331) by 13%/11% due to pressured gross margin, option cost and the issuance of new shares, which led to 4.4% dilution.

However, Vinda has a greater profitability when compared with its peers, with 2012/13 P/E of 16 times, it is still the top pick in necessity stocks on its compelling valuation.

The target price was edged down from $13.9 to $13.8, with a Buy rating based on a higher P/E multiple of 18 times for 2012/13E, from 16 times.


Source: AAStocks Financial News
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Re: Vinda International 3331

Postby winston » Wed Aug 08, 2012 1:59 pm

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VINDA INT'L (03331) retained Outperform, TP hiked to $14 by Stanchart

Standard Chartered reaffirmed Outperform on VINDA INT'L (03331). Paper pulp price declined along with demand, raising its earnings forecast for 2013 and providing a buy opportunity on spot price.

Despite insignificant price hike in the first half of 2012, VINDA INT'L's sales remain robust, Stanchart said in a report, believing the tissue paper maker to boost production by 25% year-on-year, by utilizing a production capacity of 470,000 tons in the first half of this year. Net profit per ton is projected to rise from $1,400 in 2012 to $1,585 in 2013.

The valuation gap between VINDA INT'L and HENGAN INT'L (01044) has trimmed. VINDA INT'L's target price was hiked from $11.2 to $14.

Source: AAStocks Financial News
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Re: Vinda International 3331

Postby winston » Mon Aug 27, 2012 1:47 pm

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VINDA INT'L (03331.HK) target lifted to $15.4 on estimates of 66.6% yearly rise in 1H NP to 320M - HSBC

HSBC Global Research estimated that VINDA INT'L (03331.HK)'s 1H net profit rose 66.6% year-on-year to $318 million.

As wood pulp prices have been corrected, Vinda's gross profit margin is expected to stay high in 2013.

An Overweight rating is maintained with target lifted from $13.7 to $15.4.


Source: AAStocks Financial News
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Re: Vinda International 3331

Postby winston » Wed Aug 29, 2012 6:31 pm

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VINDA INT'L (03331.HK) profit up 35.1%; interim div up 30.3% to 4.3 cents in 4.3 cents

VINDA INT'L (03331.HK) announced that for the first half year ended June, the revenue rose 31.6% to $2.89 billion;

Gross profit rose 48.7%
to $900 million;

Gross profit margin rose 3.6 percentage points to 31.3%;

Net profit rose 35.1% to $260 million, representing underlying EPS of 26.7 cents;

Interim dividend rose 30.3% to 4.3 cents.

Inventory turnover days decreased from 145 days to 123 days;

Debtors' turnover days increased from 45 days to 47 days.

Source: AAStocks Financial News
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Re: Vinda International 3331

Postby winston » Thu Aug 30, 2012 7:46 am

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Vinda International Holdings (3331) reported a net profit of HK$258 million in the first half, up 35 percent from a year ago.

Earnings per share hit 26.7 HK cents.

It recommended an interim dividend of 4.3 HK cents.


Source: The Standard HK
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