WEIMING (603568.SH): Steadily improved results and maintains strong profitability expected December 20, 2017 974

Summary of Investment

  • Steady increase in business scale and profitability;
  • Launch employee stock ownership plan to release positive signals;

Investment Rating

The Company boasts excellent profitability and possesses abundant ongoing projects. It is expected that the gradual introduction of new projects will accelerate the growth of revenue and profit scale. It is estimated that the net profits attributable to the parent company for 2017-2018 will reach RMB475 million and RMB581 million, respectively; EPS will be RMB0.69 and RMB0.85, respectively, equivalent to PE 30.1 and 24.6, respectively. The target price is expected to be RMB25.5 and the rating is “Buy” for the first coverage during 12 months. (Closing price as at 18 Dec 2017)

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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