标题：Yongli BeltingUSD appreciation will boost pro forma results considerably
发布日期：2016-01-13 9:53:25
内容： Riding on the up-trend for USD against RMB, on conservativeestimation, the Company’s exchange translation will rise by over Rmb100mn in 2016. Actual controller and senior officers commitment to make nodivestment underscores their confidence in the Company’s prospect. Implementation of smart sorting system strategy will unleash a growth potential for next 5-10 years. Risks: disappointing extension of smart sorting systems and progress of private placement. Earnings forecast and valuation. We temporarily reiterate Yongli Belting’s 2015-18E EPS forecasts ofRmb0.65/1.05/1.46/2.0. Given its potential exchange translation gain and valuation re-rating that will bebrought through implementation of the Company’s smart sorting system strategy, we lift the Company’sTP to Rmb40 (implying an upside of 40%) and reiterate BUY.
发布日期：2016-01-13 9:53:25
内容： Riding on the up-trend for USD against RMB, on conservativeestimation, the Company’s exchange translation will rise by over Rmb100mn in 2016. Actual controller and senior officers commitment to make nodivestment underscores their confidence in the Company’s prospect. Implementation of smart sorting system strategy will unleash a growth potential for next 5-10 years. Risks: disappointing extension of smart sorting systems and progress of private placement. Earnings forecast and valuation. We temporarily reiterate Yongli Belting’s 2015-18E EPS forecasts ofRmb0.65/1.05/1.46/2.0. Given its potential exchange translation gain and valuation re-rating that will bebrought through implementation of the Company’s smart sorting system strategy, we lift the Company’sTP to Rmb40 (implying an upside of 40%) and reiterate BUY.
