Grandblue ENV (600323.SH): Operates steadily and its growth rate is in line with expectations November 9, 2017 791

Summary of Investment

  • The operation is steady, and the profitability has improved;
  • The valuation is lower than that of the rivals, and the margin of safety is abundant;

Investment Rating

The Company continued to operate steadily in the first three quarters. We predict the Company’s net profits of 2017 and 2018 will reach RMB 616/738 mn, respectively; EPS will be RMB0.8 and RMB0.96, respectively, equivalent to 20.1/16.7 P/E ratio of 2017/2018; The target price is given at RMB18.4, with an accumulate 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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