Stock Name: CheungWoh
Company Name: CHEUNG WOH TECHNOLOGIES LTD
Research House: SIAS
SIAS Research in an Apr 28 research report says: "CWM announced a 28.8% increase in net attributable profit on revenue growth of 21.9% in FY2011. Via certain process changes (to be explained later), the company managed to mitigate the impact of higher operating costs. EPS hit 5.56 cents a share, translating to a current PER of just 5.6x.
"FY12F will see the ramp up of volume for new customer Suzuki in China, as well as the supply of products to an enlarged number of Wuling box vans. We conservatively adjusted our top and bottom line growth projections for CWM upwards to 12.5% and 17% respectively to $170.3 million and $20.4 million in FY2012F.
"We raised our FY2013F and new FY2014F growth forecasts to 15% annually (up from 10%) for sales. Our intrinsic value is raised to 60 cents. INCREASE EXPOSURE."
Company Name: CHEUNG WOH TECHNOLOGIES LTD
Research House: SIAS
SIAS Research in an Apr 28 research report says: "CWM announced a 28.8% increase in net attributable profit on revenue growth of 21.9% in FY2011. Via certain process changes (to be explained later), the company managed to mitigate the impact of higher operating costs. EPS hit 5.56 cents a share, translating to a current PER of just 5.6x.
"FY12F will see the ramp up of volume for new customer Suzuki in China, as well as the supply of products to an enlarged number of Wuling box vans. We conservatively adjusted our top and bottom line growth projections for CWM upwards to 12.5% and 17% respectively to $170.3 million and $20.4 million in FY2012F.
"We raised our FY2013F and new FY2014F growth forecasts to 15% annually (up from 10%) for sales. Our intrinsic value is raised to 60 cents. INCREASE EXPOSURE."
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