标题：Haining China Leather MarketLeasing business under pressure; watch business transformation
发布日期：2016-03-01 7:09:21
内容： Considering the overall sluggishness in the consumption sector and pressure of leasing expiry of some projects, we trim 2015/16/17e EPS forecasts by 16.4%/16.5%/16.3% to Rmb0.49/0.54/0.57. Maintain BUY. The company’s active exploration of diversified expansion can further fuel growth. Watch business model innovation, M&A of broad health firms and progress in internet-based financial business and cross-border e-commerce. Considering the earnings forecast cut, we trim TP by 40% to Rmb13.2, implying 24x 2016e P/E.
发布日期：2016-03-01 7:09:21
内容： Considering the overall sluggishness in the consumption sector and pressure of leasing expiry of some projects, we trim 2015/16/17e EPS forecasts by 16.4%/16.5%/16.3% to Rmb0.49/0.54/0.57. Maintain BUY. The company’s active exploration of diversified expansion can further fuel growth. Watch business model innovation, M&A of broad health firms and progress in internet-based financial business and cross-border e-commerce. Considering the earnings forecast cut, we trim TP by 40% to Rmb13.2, implying 24x 2016e P/E.
