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CMB International: Maintain EVA HOLDINGS (00838) ‘Buy’ rating, slightly lower the Target Price to HKD 1.30.
It is expected that the net income for the fiscal year 2025 will increase by 18% year-on-year to HKD 0.269 billion, but due to facing higher fixed costs, it offsets the decline in financial costs.
[Brokerage Focus] CMB International maintains a Buy rating on EVA HOLDINGS (00838), expecting its Auto Parts Business to accelerate this year.
Jinwu Financial News | Zhāo Yín International published a Research Report indicating that EVA HOLDINGS (00838) is expected to see a 1% year-on-year increase in revenue to 3.4 billion HKD in 2H24, with the Auto Parts Business expected to rise by 4% year-on-year, primarily driven by contributions from factories in Wuhan and Mexico. The firm anticipates that the gross margin for the Auto Parts Business will remain stable quarter-on-quarter and decrease by 1.2 percentage points year-on-year, mainly due to: 1) increased competition; 2) increased capital expenditures during the transformation to first-tier suppliers; 3) all subsidies from Faurecia being accounted in the second half of 2023, leading to a high comparative base for 2H23. The firm expects the overall gross margin for 2H24 to be the same.
Express News | Eva Precision Industrial - Unit Confirmed Acceptance of 2 Facility Letters Both Dated 13 Dec Issued by United Overseas Bank
Express News | Eva Precision Industrial- DBS Agreed to Make Available to Unit Term Loan Facility of up to HKD400 Mln
Eva Holdings (00838.HK) was granted a loan of up to 0.4 billion Hong Kong dollars.
On November 4th, Gelonghui reported that Eva Holdings (00838.HK) announced that on November 4, 2024, the borrower (a wholly-owned subsidiary of the company) confirmed acceptance of the financing agreement dated September 30, 2024 issued by Shanghai and Hong Kong Banking Corporation Limited (“the HSBC Financing Agreement”). According to the HSBC Financing Agreement, HSBC has agreed to provide the borrower with a long-term installment loan of up to HK$0.4 billion, which must be repaid according to the repayment schedule in the HSBC Financing Agreement, with the final repayment date being four years from the date of the first drawdown.
EVA HOLDINGS: Interim Report 2024
