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FerrooooooooooooooCHINA!!!!!!!!! All the way to the "Great Wall of China"!
Good time to accumulate now...watch up for this folks!
Hi Singaporegal,
You could have bought at 80c back then and just hold all the way till now. Too much buy sell buy sell is really heading no where sometimes. Just my point of view
Right now... we are more concerned about the next 3 months than anything further down the road... :(
Hi Jackjames,
Don't worry as you are holding to a stock and not a warrant. I always stagger my buys so if I buy I shall not put all my lots at one price. This is my way to "corner" the share price:). In the last market correction it went all the way down to 50c.
I need to look at the company's future plans first before I buy.
Livermore, I got 30 lots at 0.795 at luzhou *(*%$%$(%$..
regret didn't cut loss ( because correction has not came yet, and I know results will released soon with fantastic growth) when it rebound to 0.785 during the chinese new year..
oh well, what to do.. got to hold it ... don't really wanna cut loss now.. I believe like u said, when dust is clear, it should be on track.. the only disadvantage now is, I do not have spare cash to enter now, else, 0.675 is such a cheap price, haiih.
The CAO debacle has spooked investors so much that most are shying away from China stocks. I find it is a real pity. On our local bourse, we cannot buy a Vietnam stock nor a Indian stock. The only emerging marekt stock that one can buy on our local market is from the fastest economy in the world. Sometimes people forget that China is now the 4th largest economy and will one day be the largest economy in the world. China also has the larest foreign reserves of US$1 trillion.
I met this stock guru at FerroChina's result briefing and he said to me that he used to avoid China stocks but he is now looking at them again because of their great potential. One bad apple does not mean that all are bad.
For those who are holding onto FerroChina , it would be good to just HOLD. I attended the result briefing last Wednesday and I was very impressed with its results and its agressive expanion plans. I can see that FerroChina is aiming to be the biggest galvanised steel manufacturer in China one day:).
The CAO debacle has spooked investors so much that most are shying away from China stocks. I find it is a real pity. On our local bourse, we cannot buy a Vietnam stock nor a Indian stock. The only emerging marekt stock that one can buy on our local market is from the fastest economy in the world. Sometimes people forget that China is now the 4th largest economy and will one day be the largest economy in the world. China also has the larest foreign reserves of US$1 trillion.
I met this stock guru at FerroChina's result briefing and he said to me that he used to avoid China stocks but he is now looking at them again because of their great potential. One bad apple does not mean that all are bad.
Becoming a dominant galvanized steel manufacturer S$1.52
S$1.5228 February 2007
Price Target: S$2.50
J.P. Morgan Securities Singapore Private Limited
See page 4 for analyst certification and important disclosures, including investment banking relationships.
JPMorgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm
may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in
making their investment decision.
Company data
Price (S$) 1.52
52-Wk Range (S$) 0.51-1.77
Mkt Cap. (S$ MM) 587
? FY06 results above consensus and JPMorgan estimates. FY06
net profit rose 84.1% Y/Y to Rmb269MM, underpinned by strong
revenue growth of 73.3% Y/Y to Rmb3.8B. Excluding the RCPS
financial expense of Rmb55.8MM, net profit would have been
9.5% above our FY06 forecast.
net profit rose 84.1% Y/Y to Rmb269MM, underpinned by strong
revenue growth of 73.3% Y/Y to Rmb3.8B. Excluding the RCPS
financial expense of Rmb55.8MM, net profit would have been
9.5% above our FY06 forecast.
? Potential share price catalyst. The company is looking for
growth opportunities and aims to be a significant global steel
processing player. There are several options available to
management: (1) increase its associate, Changshu Everbright; (2)
acquire its outsourcing partner, Tianjin Huaxin and other steel
processing plants; (3) venture into higher-margin steel products,
such as building automobile steel spare parts, via a joint venture.
growth opportunities and aims to be a significant global steel
processing player. There are several options available to
management: (1) increase its associate, Changshu Everbright; (2)
acquire its outsourcing partner, Tianjin Huaxin and other steel
processing plants; (3) venture into higher-margin steel products,
such as building automobile steel spare parts, via a joint venture.
? Factoring outsourcing and JV with Baotou into our estimates.
Given its strong growth momentum and adding the contribution
from its outsourcing partner and Baotou venture, we raise our
earnings estimates by 1.6% for FY07 and 4.6% for FY08.
Given its strong growth momentum and adding the contribution
from its outsourcing partner and Baotou venture, we raise our
earnings estimates by 1.6% for FY07 and 4.6% for FY08.
? We raise our target price to S$2.50. We reiterate our
Overweight rating and raise our Dec. ?07 price target to S$2.50
based on our DCF valuation (WACC at 11% and terminal growth
of 1%). Key risks to our price target are: (1) Susceptibility to steel
and zinc raw material fluctuations; (2) execution of its high
growth strategy; (3) leveraged financials.
Overweight rating and raise our Dec. ?07 price target to S$2.50
based on our DCF valuation (WACC at 11% and terminal growth
of 1%). Key risks to our price target are: (1) Susceptibility to steel
and zinc raw material fluctuations; (2) execution of its high
growth strategy; (3) leveraged financials.
Big 2 is within sight now ;p