Back    Zoom +    Zoom -
<Research Report>C Suisse: CHINA LONGYUAN Valuation Attractive, Recommends Absorbing on Dip
2023/02/01 10:40
CHINA LONGYUAN (00916.HK) issued a profit warning, expecting its FY22 net profit to decline 30-40% YoY to RMB4.4-5.2 billion, lower than market consensus and that expected by Credit Suisse, the broker said in a report. The broker believed the decline is due to various one-time impairment losses.

Due to the weaker-than-expected results in FY22, the broker expected a negative reaction to CHINA LONGYUAN's share price. Based on its attractive valuation and strong production capacity growth, investors are recommended to take advantage of the situation to absorb the stock. The broker maintained Outperform rating on with a TP of $21.5.
AAStocks Financial News