[ET Net News Agency, 29 July 2020] Huatai Research cut its target price for Shenzhou
International (02313) to HK$104 from HK$108 and maintained its "buy" rating.
Shenzhou is scheduled to report its 1H results on 25 August. The research house
estimated a revenue decline of 3% to RMB10.0bn in 1H, with net profit down by 8% to
RMB2.2bn, which would mark its first decline since 2012, a result of reduced orders from
major customers, suboptimal worker efficiency, and increased operating expenses during the
COVID-19 pandemic.
Despite lingering uncertainties in the near term, Huatai expects order growth to
gradually recover in 2H, mainly thanks to the receding pandemic threat in China and
Europe. Huatai cut its 2020/21 EPS forecasts by 9%/10% to RMB3.3/RMB4. (KL)
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02313 SHENZHOU INTL
Nominal 
69.050 -1.800 (-2.541%) Research Report
29/07/2020 16:25
{I-bank focus}Huatai cuts Shenzhou Int'l (02313) to HK$104
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