Sino Grandness Food Industry Group downgraded to 'sell' by DMG

Stock Name: SinoGrandnes
Company Name: SINO GRANDNESS FOOD IND GP LTD

Research House: DMG

Price Call: SELL

Target Price: 0.37

DMG & Partners Research in a Feb 24 research report says: "4Q11 net profit of RMB22 million (-43% y-o-y, -52% q-o-q) was below our assumed RMB35 million, largely due to higher than expected selling expenses and convertible bonds related expenses.

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