Tingyi’s 72% EBIT Increase Beat Our Forecast in 2Q; FVE Lifts to HKD 7 but Shares Remain Overvalued
We are lifting our fair value estimate for no-moat Tingyi to HKD 7.00 per share from HKD 5.60, following the release of upbeat second-quarter results, thanks to accelerating beverage sales growth and improving profitability. Tingyi’s 8.5% year-on-year beverage sales growth, a sequential improvement from a 2.8% year-on-year increase in the first quarter, was driven by favorable weather conditions. As a result of effective cost control in operating expenses, Tingyi’s EBIT surged 72% year on year t...Tingyi Cayman Islands Holdings is an investment holding company and engaged in trading of spare parts of machineries and raw materials. Co. and its subsidiaries are principally engaged in the manufacture and sale of instant noodles, beverages and instant food products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.