Shenzhou International Group Holdings (P Chip)

Shenzhou International Group Holdings is an investment holding company. Through its subsidiaries, Co. is principally engaged in the manufacturing of knitwear on an Original Equipment Manufacturer basis. Co. focuses on producing sport wear and casual wear with major international clients including UNIQLO, ADIDAS NIKE, and PUMA. In addition, Co. is involved in property leasing in Hong Kong; import and export of commodities in China and Hong Kong; property management in China; trading company in Macau, Japan and China; and retail in China.
  • Ticker2313
  • ISINKYG8087W1015
  • ExchangeHong Kong Stock Exchange
  • SectorPersonal Goods
  • CountryCayman Islands

Analysts

UOB
Ivy Xu Da ...
  • Robin Yuen

Sportswear - 2020 outlook: Solid growth prospects

We believe the sportswear sector will sustain its robust growth, driven by rising health awareness, increasing sports participation and policy support. Domestic brand recognition has recovered, due to multi-brand strategies that can help capture opportunities from the mass to affordable-luxury markets. In our view, the three stronger domestic brands will stay resilient. Maintain OVERWEGHT. Top pick: Anta.

UOB
Arandi Ariantara ...
  • Chaiwat Arsirawichai
  • Ivy Xu Da
  • Jacquelyn Yow Hui Li
  • John Cheong Ming Chern
  • Johnny Yum Chung Man
  • Ken Lee
  • Kong Ho Meng
  • Leow Huey Chuen
  • Robin Yuen

Regional Morning Notes - Friday, December 6, 2019

GREATER CHINA Update China Yongda Auto Services Holdings (3669 HK/BUY/HK$5.61/Target: HK$8.50): Earnings momentum improving on all fronts. Shenzhou International (2313 HK/BUY/HK$106.00/Target: HK$120.00): Multi-year visibility on capacity expansion; upgrade to BUY. INDONESIA Update Pembangunan Perumahan (PTPP IJ/BUY/Rp1,460/Target: Rp2,100): 2020 net income expected to grow by 44% yoy. MALAYSIA Sector Plantation: 3Q19 results wrap-up: Mixed earnings with big disappointment from SDPL on large impairment for Liberia. SOP surprised on upside from all business segments. Results Sapura Energy...

UOB
Ivy Xu Da ...
  • Johnny Yum Chung Man
  • Joyce Chan Pui Lai
  • Ken Lee
  • Robin Yuen

Greater China Daily: Friday, December 6, 2019

KEY HIGHLIGHTS Update China Yongda Auto Services Holdings (3669 HK/BUY/HK$5.61/Target: HK$8.50) Earnings momentum improving on all fronts. Shenzhou International (2313 HK/BUY/HK$106.00/Target: HK$120.00) Multi-year visibility on capacity expansion; Upgrade to BUY. TRADERS’ CORNER WuXi AppTec (2359 HK): Trading Buy Range BOC Aviation (2588 HK): Trading Buy Range

UOB
Ivy Xu Da ...
  • Robin Yuen

Shenzhou International - Multi-year visibility on capacity expansion; Upgrade to BUY.

We extend Shenzhou’s capacity ramp-up over a longer period (5+ years) as we learned the project details of its Vietnam and Cambodia capex plans. Challenges in the labour market in these countries can be overcome due to Shenzhou’s best-inclass factory management skills, while operational flexibility allows it to maneouvre client orders between countries to overcome potential tariff changes. Upgrade to BUY (from HOLD) on greater top-line visibility while investors look beyond Maxwin disruptions during 2019. We raise our target price to HK$120.00 (from HK$107.00).

SHENZHOU INTL.GP.HLTD. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SHENZHOU INTL.GP.HLTD. (HK), a company active in the Clothing & Accessories industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 26, 2019, the closing price was HKD 108.70 and its potential was estimated at HKD 120.77.

UOB
Arandi Ariantara ...
  • Chaiwat Arsirawichai
  • Ivy Xu Da
  • Jacquelyn Yow Hui Li
  • John Cheong Ming Chern
  • Johnny Yum Chung Man
  • Ken Lee
  • Kong Ho Meng
  • Leow Huey Chuen
  • Robin Yuen

Regional Morning Notes - Friday, December 6, 2019

GREATER CHINA Update China Yongda Auto Services Holdings (3669 HK/BUY/HK$5.61/Target: HK$8.50): Earnings momentum improving on all fronts. Shenzhou International (2313 HK/BUY/HK$106.00/Target: HK$120.00): Multi-year visibility on capacity expansion; upgrade to BUY. INDONESIA Update Pembangunan Perumahan (PTPP IJ/BUY/Rp1,460/Target: Rp2,100): 2020 net income expected to grow by 44% yoy. MALAYSIA Sector Plantation: 3Q19 results wrap-up: Mixed earnings with big disappointment from SDPL on large impairment for Liberia. SOP surprised on upside from all business segments. Results Sapura Energy...

UOB
Ivy Xu Da ...
  • Johnny Yum Chung Man
  • Joyce Chan Pui Lai
  • Ken Lee
  • Robin Yuen

Greater China Daily: Friday, December 6, 2019

KEY HIGHLIGHTS Update China Yongda Auto Services Holdings (3669 HK/BUY/HK$5.61/Target: HK$8.50) Earnings momentum improving on all fronts. Shenzhou International (2313 HK/BUY/HK$106.00/Target: HK$120.00) Multi-year visibility on capacity expansion; Upgrade to BUY. TRADERS’ CORNER WuXi AppTec (2359 HK): Trading Buy Range BOC Aviation (2588 HK): Trading Buy Range

UOB
Ivy Xu Da ...
  • Robin Yuen

Shenzhou International - Multi-year visibility on capacity expansion; Upgrade to BUY.

We extend Shenzhou’s capacity ramp-up over a longer period (5+ years) as we learned the project details of its Vietnam and Cambodia capex plans. Challenges in the labour market in these countries can be overcome due to Shenzhou’s best-inclass factory management skills, while operational flexibility allows it to maneouvre client orders between countries to overcome potential tariff changes. Upgrade to BUY (from HOLD) on greater top-line visibility while investors look beyond Maxwin disruptions during 2019. We raise our target price to HK$120.00 (from HK$107.00).

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior