Yutong Bottomed Out in First Half; FVE Maintained at CNY 24.50 on Steady Earnings Outlook
With customers postponing new-energy vehicle purchases amid the government subsidy adjustment, narrow-moat Zhenghou Yutong Bus, or Yutong, saw a 35% year-on-year net income decline on the back of a 30% year-on-year top-line drop in the first half. Still, we think the negative impact from policy uncertainty is largely behind us, and Yutong should see notable earnings-growth reacceleration in the second half. We maintain our full-year net income growth projection of roughly 2% and our fair value e...ZHENGZHOU YUTONG BUS CO.,LTD. is a China-based company principally engaged in the research and development, manufacture and sale of passenger car products. The main products of the Company consist of urban buses, seat coaches, school coaches and other types of passenger cars. The Company also provides ground passenger transportation services. The Company distributes its products within domestic markets 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.