Stock Name: ChinaEnv
Company Name: CHINA ENVIRONMENT LTD.
SIAS Research in an Aug 10 research report says: "China Environment Ltd (CENV) continued its recovery out of 2H 2010 with revenue growing by 4.9% y-o-y to RMB 210.0 million in 2Q FY11.
"PATMI was down by a marginal 0.6% from RMB33.7 million in 2Q FY10 to RMB33.5 million in 2Q FY2011. What we liked about CENV's 2Q results is that its balance sheet has actually improved - lowered receivables/funding risks.
"Cash conversion cycle shortened to 262 days in 2Q FY11 versus 421 days in 1Q FY11 - less working capital requirements. Debt came down to RMB80.0 million against RMB98.5 million in 1Q FY11. Intrinsic value of 37 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: CHINA ENVIRONMENT LTD.
| Research House: SIAS | Price Call: BUY | Target Price: 0.37 |
SIAS Research in an Aug 10 research report says: "China Environment Ltd (CENV) continued its recovery out of 2H 2010 with revenue growing by 4.9% y-o-y to RMB 210.0 million in 2Q FY11.
"PATMI was down by a marginal 0.6% from RMB33.7 million in 2Q FY10 to RMB33.5 million in 2Q FY2011. What we liked about CENV's 2Q results is that its balance sheet has actually improved - lowered receivables/funding risks.
"Cash conversion cycle shortened to 262 days in 2Q FY11 versus 421 days in 1Q FY11 - less working capital requirements. Debt came down to RMB80.0 million against RMB98.5 million in 1Q FY11. Intrinsic value of 37 cents. MAINTAIN INCREASE EXPOSURE."
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