Yue Yuen Ind (00551) rebounded by nearly 4%, as of press time, it rose 3.90% to HKD 12.78, with a turnover of HKD 14.5492 million.
According to the Smart Finance and Economics app, Yue Yuen Ind (00551) rebounded by nearly 4%, as of press time, it rose 3.90% to HKD 12.78, with a turnover of HKD 14.5492 million.
Haitong Int'l released a research report stating that Yue Yuen Ind has been first given a 'outperform' rating, with a target price of CNY 21.38. The report points out that the basic trend of the footwear manufacturing industry has improved in the first quarter, and the repair of orders will help the recovery of the manufacturing business income. The bank believes that the inventory cycle of the industry is close to the end, the company's manufacturing orders are expected to be repaired, the production capacity utilization rate is driven, and the income is increased.
The report mentioned that the dividend rate of Yue Yuen Ind was about 68% last year. Assuming a dividend rate of 70% this year, based on the closing price on June 28, the dividend rate is expected to reach 8.3% this year. The valuation discount of footwear contract manufacturers is at a historically low level compared to mainstream sports brands, and Yue Yuen Ind's valuation discount is expected to have a clear trend of recovery this year. The bank believes that the relative discount is expected to continue to recover to normal levels.