Dragon Hill Wuling (305 HK): CB loss hides true value - Not Rated
Wednesday, September 23, 2009 at 9:15AM Key points:
- SGMW’s sales volume jumped 50% in 1H and 105.7% in Jul-Aug,
signaling strong demand for DHWL’s products.
- 16,000 special vehicles sold in 1H and full-year target at 30,000
Units, up from 20,000 units last year.
- Gross margin narrowed 0.7pcp due to overloaded operation.
Long-term trend heading up unchanged.
- Bottom line ruined by RMB61.4m non-cash loss. Long-term
outlook intact.
305,
Dragon Hill Wuling in
Industrial 
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