by winston » Thu May 02, 2019 10:40 am
not vested
CHINA EB INT`L(257)
Analysis:
China Everbright International is the first one-stop integrated environmental solution provider in China.
It has business presence in more than 150 locations across 20 provinces and municipalities in China, as well as overseas markets such as Germany, Poland and Vietnam.
China Everbright International`s 2018 revenue increased 35.8% YoY to HKD27,228 million.
Shareholders` net profit increased 23.1% YoY to HKD4,319 million.
A final DPS of HK$0.12 was declared, same as last year.
Results were in line with expectation.
In 2018, the Group secured a total of 58 new projects, signed 6 supplementary agreements for existing projects and undertook 9 environmental remediation services, which in aggregate commanded a total investment of approximately RMB23.7 billion, with the number and investment amount of projects newly secured hitting record highs.
To provide sufficient funding to facilitate the rapid business growth, the Group completed a HK$10 billion rights issue within the year.
The Group had cash on hand of HK$15.97 billion, its gearing declined from 61% in 2017 to 57% in 2018, maintaining a healthy financial position.
The group will increase its investment in R&D in the future, and we expect the performance will maintain rapid growth with new capacity releasing in steady progress.
Strategy:
Buy-in Price: $7.60, Target Price: $8.97, Cut Loss Price: $7.24
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"