SUPOR (002032.SZ): Sustained and steady growth can be expected January 18, 2018

Summary of Investment

– Benefiting from the upgrading of consumption and urbanization, there is room for the increase of sales price and volume of cookware and kitchen appliances;

– With restricted equity incentive and result appraisal, sustained and steady growth can be expected;

Historical P/E valuation

supor

Investment Rating

SUPOR is a leading enterprise in the field of cookware and small appliances. Benefiting from its own brand and channel advantages as well as product upgrade and market expansion, the Company is expected to see sustainable and steady growth in the overall result in the future. It is expected that the Company’s net profit attributable to the shareholders of the listed company will reach RMB13.04 million and RMB15.57million in year 2017-2018, equivalent to RMB1.59and 1.9 EPS, and 26.7 and 22.4 PE, respectively; the Company will achieve full coverage for the first time with the grade of Accumulate.

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´╝îindustry and fundamentals to explore the investment value.

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