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<Research>CLSA Expects 3Q Profit of Most Industrials to Bottom Out on Improving Downstream Demand; Top Picks BYD COMPANY/ FLAT GLASS/ JSHL
Recommend 11 Positive 34 Negative 19 |
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CLSA issued a research report expecting the profit of most of the industrial stocks to bottom out in 3Q24, benefiting from the improving downstream demand. CLSA's top picks are BYD COMPANY (01211.HK), FLAT GLASS (06865.HK) and JSHL(601100.SH). The broker forecasted BYD COMPANY's 3Q24 net profit per vehicle to improve to RMB9,000, supporting healthy revenue and net profit growth. As for the solar sector, it is estimated that 3Q24 loss will continue to narrow due to cost reductions and price rebound. CLSA was optimistic about the solar glass sub-sector on low valuations and better supply-demand balance. In this subsector, the broker's top picks are XINYI SOLAR (00968.HK), FLAT GLASS and GCL TECH (03800.HK). AAStocks Financial News |
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