Top
OUR TOP CALLS
  • Fundamental calls

Trading List (Px at 4 May)

Comtec (0712 HK, HK$4.28)
HL Tech (1087 HK, HK$2.40)
Tongda (0698 HK, HK$0.38)
Ecogreen (2341 HK, HK$2.63)
Solagiga (0757 HK, HK$2.36)

Watch List (4 May 2011)

Fong's (0641 HK, HK$4.98)
Boer Pwr (1685 HK, HK$8.15)
Truly (0732 HK, HK$1.49)
Ming Fai (3828 HK, HK$2.29)
NewOcean (0342 HK, HK$1.54)
Leoch Int'l (0842 HK, HK$3.80)
Costin NM (2228 HK, HK$5.03)

RESEARCH REPORTS
SALES CALLS
  • Trade calls
SEARCH
RECENT ON VAYUE.COM
SPONSORED BY

 

« Sales Post: SRE Group (1207 HK) | Main | Zhuzhou CSR Times Electric (3898 HK, HK$8.02) - Meeting takeaways »
Wednesday
Apr222009

Tingyi (322 HK): Results sound - HOLD (unchanged)

DateWednesday, April 22, 2009 at 11:38AM

Revenue rose 32.9% to US$4,272.1m, comprising US$2,084.8m from instant noodles, up 40.1% YoY, US$1,924.1m from beverage, up 26.7% YoY, US$149.9m from bakery, up 36.7% YoY, and US$113.2 from others, 14.9% YoY. Gross margin enhanced 0.6pcp to 32.2%. Net profit increased 33.7% to US$260.4m (our forecasts: turnover US$4,337.7m, net profit: US$249.3m).

The key investment themes are as follows:

  • FY12/08A results within expectation.
  • Instant noodle in solid expanding mode.
  • Bottled water to regain market share after rumors ceased.
  • RDT tea to recover but pressure exists for long term.
  • Minor forecast adjustments with target price up to HK$9.64.

Results sound

AuthorVAYUE.com Team | CommentPost a Comment | | | Print ArticlePrint Article
tagged , , in

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>

Notify me of follow-up comments via email.