Grandblue ENV (600323.SH): Operates steadily and its growth rate is in line with expectations March 27, 2018

Summary of Investment

  • Steady operations and stable improvement in operational efficiency;
  • Sound cash flow and attractive valuation;

Investment Rating

We are optimistic about the sound growth potential in the Company’s future performance. It is forecast that net profits of the Company in 2018 and 2019 will reach RMB745 million and RMB860 million, respectively, earnings per share (EPS) will be RMB0.97 and RMB1.12, respectively, the current valuation level is attractive, and the target price will be RMB18.0, with a “Buy” rating.

 

About the author

Profile photo of Wang Yannan

Wang Yannan
Phillip Securities (HK)

Graduated from the University of Science and Technology of China with a Masters degree in Management and major in Financial accounting and Economics throughout her academic study.

Currently Covering Environmental Protection and New Energy sectors as an analyst in Phillip Securities and focus on the macro policy,industry and fundamentals to explore the investment value.

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