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Goldman Sachs: Maintains a 'buy' rating on Shenzhou International Group Holdings Limited unsponsored ADR, with the target price lowered to HK$90.
The management of Shenzhou International Group Holdings Limited has provided guidance for this year, with sales volume expected to increase by 15% to 20% year-on-year and a narrower decline in ASP.
Hong Kong stocks surge | Shenzhou International Group Holdings Limited (02313) rebounds over 5%, capacity utilization rate improves, and the company's gross margin recovery speed exceeds expectations.
shenzhou international group holdings limited (02313) rebounded more than 5% and, as of press time, rose 5.32% to HK$65.35, with a turnover of HK$0.227 billion.
[Brokerage Focus] Ping An Securities maintains a recommended rating for Shenzhou International (02313), indicating that domestic and international capacity utilization has recovered and some customer orders have elasticity.
Jingu Financial News | Ping An Securities Research Points out that the first half-year revenue of Shenzhou International (02313) was 12.98 billion yuan, a year-on-year increase of 12.2%; gross profit was 3.76 billion yuan, a year-on-year increase of 45.0%, and gross margin was 29.0%; net income attributable to the parent company was 2.93 billion yuan, a year-on-year increase of 37.8%, and the net income margin attributable to the parent company was 22.6%. The bank pointed out that the company's revenue growth is due to the good performance of the growth rate of the number of orders, especially the rapid growth of orders in the leisure and underwear categories. In terms of product categories, revenue from sports products was 9.21 billion yuan, a year-on-year increase of 7.6%, accounting for 71% of revenue.
Northbound funds transaction trend: Northbound funds sold a net amount of 1.838 billion shares of Li Auto Inc (02015), and increased their holdings by 0.7 billion shares. China mainland banking and Hong Kong ETFs were sold off.
On August 29th, in the Hong Kong stock market, the net sell of 1.838 billion Hong Kong dollars by northbound funds, of which 1.183 billion Hong Kong dollars were sold through the Shanghai-Hong Kong Stock Connect and 0.655 billion Hong Kong dollars were sold through the Shenzhen-Hong Kong Stock Connect.
Jefferies Adjusts Shenzhou International Group's Price Target to HK$56 From HK$67, Keeps at Hold
Nomura: Upgrade Shenzhou International Group Holdings Limited Unsponsored ADR to "buy" rating, with target price raised to 105.5 Hong Kong dollars.
Nomura's research report states that Shenzhou International (02313) recorded a 12% increase in revenue in the first half of the year, which is nearly 5% lower than market expectations. Sales showed robust growth of over 20%, but the average selling price decreased by 7%. At the same time, the group's gross margin improved significantly in the mid-term, rising by 6.6 percentage points to 29% compared to the same period last year. The speed of gross margin recovery exceeded expectations and also exceeded the market forecast of 27%. In addition, the company's mid-term profit increased significantly by 61% year-on-year, benefiting from a 0.47 percentage point improvement in the operating expense ratio. Furthermore, due to the favorable order prospects in the second half of the year, the company is expanding its production capacity. The bank has raised the target price for the group from HKD 104.3 to HKD 105.
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