Sun Art remains weak
​We maintain HOLD on Ruentex Industries given 1) Sun Art’s earnings growth remains weak in 2016/17F; and 2) Ruentex’s lower cash dividend payout in 2016F.
Ruentex Industries is engaged in the manufacture, processing, printing, dyeing, sale, import and export of natural cottons, chemical and synthetic fiber, linen, fur, textiles, garments and weaved clothes; import of raw cottons, chemical fiber, dyestuff and chemical raw materials; development of residential housing, sale and lease of commercial buildings; manufacture and sale of building materials; import and export of building machinery; provision of housing transaction consultancy services; and processing, storage, classification, packaging and wholesale of merchandises. Co.'s products include: yarn-dyed fabrics; piece-dyed fabrics; and corduroy.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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