Fuyao Glass (3606 HK) The Negative Factors are Dissipating and the Glass Giant Is Starting a New Round of Growth January 8, 2020 95

PSR Recommendation: ACCUMULATE Status: Downgraded
Target Price: HKDHKD28

Investment Summary
The North America Factory Keeps picking up, Partly Compensating for the Slipping Domestic Auto Market
The North American factory that Fuyao has been cultivating for many years has further climbed, partially compensating for the downward pressure in the domestic auto market. In addition, the acquisition of SAM in Germany has been consolidated since March, and the total revenue of Fuyao has continued to grow against doldrums in the car market.

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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