CSR 1766

[persistentone]

Is there news out on 1766.HK? I see them up on large volume yesterday.

[winston]

*DJ CSR Corp Target Raised To HK$6.80 From HK$4.50 - Citi
Source: Dow Jones Newswire

[winston]

MARKET TALK: CSR May Rise; NSSF Buys More H-Shrs

Source: Dow Jones Newswire

Apr 26, 2012

[winston]

not vested

DJ MARKET TALK: CSR Corp +0.5% On New Metro Contract;Citi Keeps Buy

0944 [Dow Jones] CSR Corp (1766.HK) is up 0.5% at HK$5.90, outperforming the boarder market's 0.3% decline, after the Chinese railway-equipment maker said it won a CNY2.5 billion contract on a metro project in Turkey's capital of Ankara.

Citigroup says the new order demonstrates the company's competitiveness in the global market.

It notes the higher average selling price for international markets compared with domestic market could translate into higher gross margins for the company.

The house estimates CSR's export revenue will grow by over 50% to CNY9.5 billion on-year in 2012, accounting 11% of its total revenue for the year, up from around 7.7% of revenue in 2011.

It keeps a Buy rating on the stock with a HK$6.80 target price, on margin expansion potential and relatively lower valuation

Source: Dow Jones Newswire

[winston]

not vested

<Research Report>CSR (01766.HK)'s TP lifted to $7 by Citi on bullish on railway equipment sector

Citigroup is still bullish on the railway equipment sector on believing demand for multi-unit trains will remain strong for the three years ahead. It is most upbeat about CSR (01766.HK), which 2013 forward price-to-earnings ratio is 11 times.

That compares to CSR TIMES ELEC (03898.HK)'s 2013 forward P/E of 13 times. Short-term catalyst for CSR is the possible surge in 4Q new orders, said the broker.

Chinese train makers are now capable of producing trains comparable to their major international rivals after acquiring the most advanced techniques, said the broker, who expects the exports of railway infrastructure of CSR can contribute to 15-20% of income in 2015 as compared to the 8% contribution in 2011 and generate higher profit.

Although many investors concern about the uncertainties linked with new orders contraction, the broker realized bidders would compete fiercely in the fourth quarter.

CSR and CSR TIMES ELEC were maintained at Buy with target prices lifted to $7 and $24 respectively from $6.8 and $22.


Source: AAStocks Financial News

[winston]

not vested

We predict that its diluted EPS at RMB 0.314/HK$0.39 and RMB 0.391/HK$0.485 in 2012-2013, against the closing price of RMB5.7 on October 22, PE for 2012-2013 is respectively 14.6x and 11.8x.

Considering possible increase of H2 rail industry boom and room for Chinese railway construction in a long term, as the industry leader, the Company will enjoy rail equipment industry growth;

Our 12-months target price HK$6.3 was based on 13x PE 2013E, hence Accumulate rating granted.


Source: Phillips

[winston]

not vested

CSR (01766.HK) 3Q profit mainly derived from impairment write-back; 10% profit growth target remains a challenge - CS

CSR (01766.HK)'s third-quarter profit was only boosted by the RMB62 million impairment write-back in the third quarter, Credit Suisse said in a report.

Revenue from locomotives, MUs, and metro cars declined yearly by 5%, 19% and 18% respectively during the quarter, offset by 80%, 10% and 132% yearly growth in passenger carriage, freight wagon and other business revenues.

CSR is rated Underperform with target price unchanged at $4.


Source: AAStocks Financial News

[winston]

not vested

China's National Social Security Fund, which cut its H-share stake in CSR Corporation Ltd to 6.98 percent from 7.03 percent on Dec. 28, has sold 600,000 shares of the railway equipment maker for HK$4.08 million.


Source: MING PAO DAILY NEWS

[winston]

not vested

CSR (01766.HK) enters into RMB30B major contracts

CSR (01766.HK) -0.020 (-0.264%) Short selling $16.67M; Ratio 14.919% announced that the company has recently entered into several major contracts with an aggregate amount of RMB 30.88 billion.

The total amount of major contracts accounted for approximately 31.5% of operating revenue of the company in 2013 according to the PRC accounting standards.

Source: AAStocks Financial News