Huazhong In-Vehicle Holdings Co Ltd
[6830.HK Huazhong In-vehicle] Corporate News – Huazhong In-vehicle (6830HK) has upside-potential
[Release immediately] 26 July 2018
Huazhong In-Vehicle Holdings Company Limited [Corporate News] Huazhong In-vehicle (6830HK) has upside-potential Stable order growth accompanied by capacity expansions The company plans to double the capacity of its Changsha plant by adding two new lines in 1H19 to produce bumpers for Audi and FAW-Volkswagen. It should increase the plant’s revenue by over 20% from est. RMB20~25m in FY18 to est.~RMB30m in FY19. Margin improvement likely to continue More expectations on JVs, but not much on T-Box Shipment of T-Box is on schedule, but orders are limited to hardware that do not enjoy high price premium. The ASP for each T-Box turns out to be RMB200~300, less than our previous estimation of ~RMB400 (see19MAY2017snapshot). We see neither strong growth momentum nor significant topline contribution from relevant business segment at this stage. Valued at 12.4x 2018F P/E – End – Document: http://n.eqs.com/c/fncls.ssp?u=WUJGOQDILR Document title: [6830.HK Huazhong In-vehicle] Corporate News – Huazhong In-vehicle (6830HK) has upside-potential
26/07/2018 Dissemination of a Financial Press Release, transmitted by EQS Group. |