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EUR 56.04 For Business Accounts Only

China business and convenience stores to sustain its growth - 1216 TT; BUY

We maintain our positive view on Uni-President (UPEC), given the sound outlook for its two main earnings contributors: 1) UPC with continued solid growth and market share gains in all segments, driven by new products; and 2) PCSC, which we expect to resume earnings growth in 2016, mainly on improving operating leverage of convenience stores (CVS) Taiwan; reiterate BUY.

Underlying
Provider
Yuanta
Yuanta

​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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