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I am hopeful for CG tech tomorrow. And will support it.
For shortists, beware as it will be a GREEN GREEN DAY for CG Tech tomorrow.
Good luck to everyone
pikachu,
I don't work for them...rather they are working for me since I'm a shareholder!
eventine70, If you had been tracking this stock for the last 2 years, you will be able to tell if the what that posting said is ture!
It will no doubt cheong on Monday and go into uncharted new heights.
The only question is HOW MUCH? The stock will be re-rated by OCBC, CIMB-GK and Westcomb, and the target prices should be in excess of $1.20. Watch www.qian2yu.com for OCBC's assessment. It will be available by 08:55...
Good luck to holders. Vested reasonably (though I wished I did buy more - but one must not be greedy). Good luck to shortists.
well done!
can it cheong on Monday?
Hi BullRun. Someone in Channelnewsasia forum pointed out that CG Tech has a habit of releasing results in the wee hours of the morning. Is it a habit, or is it hard work?
As for TP $1.20 - I am hopeful, at the next CNY! If the major turnaround (Black Monday type of collapse) doesn't happen yet!
The question is how long do u think this gem can hit 1.20 ; )
cg tech released results at 2 am this morning!
go to the link to sgx: http://info.sgx.com/webcorannc.nsf/new+announcement+today?OpenView
in a nutshell: net profit jumped 61%, exceeding management's guidance last year of 50%.
shareholders will receive 1 free bonus share for every 2 CG Tech shares that they own.
stock price is 76 cts now, so pe ratio now at 7.6X based on FY06 results.
i expect this pe ratio to be just 5.9X based on forecast FY07 results of 30% rise in eps.
All the China's fibre stocks including SINOTECHFIB, FIBRECHEM, CHINA SKY n HONGWEI will shoot up rapidly after the releasing of CG tech's full year stellar result.
22/02/2007 09:20 DJ MARKET TALK: CIMB Starts CG Tech At Outperform; S$1.20 Tgt
DJ MARKET TALK: CIMB Starts CG Tech At Outperform; S$1.20 Tgt
0120 GMT [Dow Jones] STOCK CALL: CIMB starts CG Technologies (D79.SG) at Outperform with target of S$1.20; expects FY06 "to be a stellar year for CG Tech, with net profit growth of 58% on year on the back of capacity expansion for its high-end functional products." Company posted CNY70.0 million profit in FY05.
Says "going forward, the group will increasingly shed capacity for its less profitable bright and semi-dull chips in favour of high-margin chip products by reconfiguring its existing facilities." Adds "earnings growth in 2008 is also expected to be powered by its latest compact combed yarn, which will be introduced in 4Q07." FY06 results due after market close tomorrow; trades up 2.7% at S$0.76 on above average volume. (JEM)
Contact us in Singapore. 65 64154 150;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
February 21, 2007 20:20 ET (01:20 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.
well, this share really surprised me on its strength!
let see if its momentum can swing it up further?
According to the theory of Flagpole formation, CGTech last Friday advance 6 cent, therefore
21//02/2007 : open gap @$.0695 +0.06 = $0.745.
closing price@0.74
Today : open gap @$0.75 + 0.06 = $0.81.
closing price will be............
Report is here................ let's wait for it to CHIONG!
CG Technologies (S$0.63) - Initiation of Coverage - Integrated value
? CG Tech is in the middle of a China textile boom. CG Tech is a producer of PET
chips used to produce polyester fibres and spun yarns in the PRC. The textile boom
that China is experiencing has escalated demand for synthetic fibres. In particular,
polyester fibre demand is expected to grow by an annual rate of 8.3% from 2006 to
2010. Benefiting from this demand, CG Tech?s revenue and net profits grew by 70%
and 80% CAGR respectively, from FY02 to FY05.
chips used to produce polyester fibres and spun yarns in the PRC. The textile boom
that China is experiencing has escalated demand for synthetic fibres. In particular,
polyester fibre demand is expected to grow by an annual rate of 8.3% from 2006 to
2010. Benefiting from this demand, CG Tech?s revenue and net profits grew by 70%
and 80% CAGR respectively, from FY02 to FY05.
? Growth catalysts from high-value product mix. Since 2005, CG Tech has
developed a series of high-margin PET chips (alkali-soluble, high-shrinkage and dyeabsorbing
chips) and spun yarns (?breathable? and combed yarn) to stay ahead of the
competition. These products are used to make functional and high-quality textiles
greatly demanded by textile producers, given rising Chinese affluence and the recent
imposition of textile export quotas to the US and EU. Of CG Tech?s total capacity of
47,154 tonnes p.a. in 3Q06, premium-grade products accounted for 60%. Going
forward, the group will increasingly shed capacity for its less profitable bright and
semi-dull chips in favour of high-margin chip products by reconfiguring its existing
facilities. Earnings growth in 2008 is also expected to be powered by its latest
compact combed yarn, which will be introduced in 4Q07.
developed a series of high-margin PET chips (alkali-soluble, high-shrinkage and dyeabsorbing
chips) and spun yarns (?breathable? and combed yarn) to stay ahead of the
competition. These products are used to make functional and high-quality textiles
greatly demanded by textile producers, given rising Chinese affluence and the recent
imposition of textile export quotas to the US and EU. Of CG Tech?s total capacity of
47,154 tonnes p.a. in 3Q06, premium-grade products accounted for 60%. Going
forward, the group will increasingly shed capacity for its less profitable bright and
semi-dull chips in favour of high-margin chip products by reconfiguring its existing
facilities. Earnings growth in 2008 is also expected to be powered by its latest
compact combed yarn, which will be introduced in 4Q07.
? Integrated value. CG Tech currently makes and sells PET chips and yarns only
(using polyester short fibres sourced from outside parties). The group will start to
produce polyester short fibre in-house by 3Q07. This will be used as raw material for
its yarn products. We expect cost savings of 3-4% yoy through the vertical integration
of all three stages of production under one roof.
(using polyester short fibres sourced from outside parties). The group will start to
produce polyester short fibre in-house by 3Q07. This will be used as raw material for
its yarn products. We expect cost savings of 3-4% yoy through the vertical integration
of all three stages of production under one roof.
? Net profit CAGR of 33% projected for FY05-08. We expect 2006 to be a stellar year
for CG Tech, with net profit growth of 58% yoy on the back of capacity expansion for
its high-end functional products. Continued favourable market conditions, capacity
expansion and the introduction of new products are expected to support an earnings
CAGR of 33% through to FY08.
for CG Tech, with net profit growth of 58% yoy on the back of capacity expansion for
its high-end functional products. Continued favourable market conditions, capacity
expansion and the introduction of new products are expected to support an earnings
CAGR of 33% through to FY08.
? Outperform, with target price of S$1.20. We initiate coverage with an Outperform
rating and a target price of S$1.20, based on DCF valuation (WACC 12.41%, terminal
grow rate of 0.5%). We see share-price catalysts from: 1) strong FY06 results
expected, with net profit growth likely to exceed management?s guidance of 50%; 2)
expansion of high-margin products both downstream and upstream; and 3) the
possibility of penetrating the international market, which should further boost its
earnings and margins.
rating and a target price of S$1.20, based on DCF valuation (WACC 12.41%, terminal
grow rate of 0.5%). We see share-price catalysts from: 1) strong FY06 results
expected, with net profit growth likely to exceed management?s guidance of 50%; 2)
expansion of high-margin products both downstream and upstream; and 3) the
possibility of penetrating the international market, which should further boost its
earnings and margins.
CIMB-GK just released a 24 page report on CG Tech.
Recommends a BUY
TP - 1.20