DFM delivered Mixed 2016 Result with Honda JV Drive Profit Growth; FVE Maintained at HKD 12.5
Dongfeng Motors, or DFM, delivered a mixed 2016 result, with 16% year-on-year net income growth to CNY 13.5 billion in line with our estimate, while the 3.3% year-on-year top-line decline to CNY 122 billion was below our estimate. The company’s proprietary brand’s razor-thin margin still weighs on the bottom line, but this is largely offset by the robust joint venture, or JV, performance (mainly with Honda).We maintain our fair value estimate at HKD 12.5 per share in light of the tepid outlook ...
Dongfeng Motor Group and its subsidiaries are engaged in the manufacture and sale of commercial vehicles, passenger vehicles, automotive engines and parts; and the production of vehicle manufacturing equipment. Co. is also engaged in the import and export of vehicles and equipment and other automotive-related businesses such as finance, insurance agency and used car trading. Co.'s principal products include commercial vehicles (trucks, buses and engines, auto parts and vehicle manufacturing equipment of commercial vehicles) and passenger vehicles (sedans, multi purpose vehicles, sport utility vehicles and engines, auto parts and vehicle manufacturing equipment of passenger vehicles).
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.