Angang Steel’s FY17 Preliminary Results Beat Expectations; FVE Raised on Strong Performance
Angang Steel announced preliminary full-year 2017 earnings that beat our expectations, with net profit increased by around 251% to CNY 5.68 billion versus CNY 1.62 billion in 2016. This implies that for fourth-quarter 2017, Angang Steel’s net profit was CNY 2.39 billion, which was a big increase from CNY 0.64 billion during the same period last year. We raised Angang Steel’s fair value estimate to HKD 3.90 (CNY 3.20) from HKD 3.35 (CNY 2.85), following a revision to our valuation model, which ta...Angang Steel Company Limited is a China-based company principally engaged in the production and distribution of steel. The Company's main products include hot-rolled steel sheet products, cold-rolled steel sheet products, medium and heavy sheets and other steel products. The Company distributes its products within domestic market and to overseas markets.
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.