Xinyi Glass A Buy; Less Vulnerable-Tai Fook

Date: 30 November 2005
Source: Newratings.com

Date: 30 November 2005

Tai Fook Research rates Xinyi Glass (0868.HK) buy; says company mainly produces auto glass, which mainly for replacement rather than for carmakers' production, so company less vulnerable to short-term fluctuations in vehicle production volumes worldwide.

"Looking forward, the company will display promising revenue growth for FY05 after the completion of new production lines for low-e glass, a kind of high-quality thermal insulated construction glass, and auto glass in 1H05." At forward PER of 9X for FY05, stock should offer "lucrative upside potential, given its niche in higher quality glass products." Shares last down 1.2% at HK$1.69.
600450 Xinyi Glass A Buy; Less Vulnerable-Tai Fook glassonweb.com

See more news about:

Others also read

MORE...

Emirates Glass wins major supply contract for Palm Jumeirah
Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
Rexam, buyout firms to bid for Calmar-sources
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
ISRA Receives Major Display Glass Inspection Order
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Company to close lime plant in Carey next month
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
China glass import a cheaper option for Amritsar firm
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
Asahi Glass, Oracle, TDK, Seven & I: Japanese Equity Movers
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

Add new comment