reports
Lee & Man Paper Manufacturing: 1 director
A director at Lee & Man Paper Manufacturing bought 483,000 shares at 2.270HKD and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last t...
LEE & MAN PAPER MFG sees an upgrade to Positive due to a better fundam...
The general evaluation of LEE & MAN PAPER MFG (HK), a company active in the Paper industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date December 17, 2021, the closing price was HKD 5.54 and its po...
- Johnny Yum Chung Man
- Ken Lee
Lee & Man Paper - 1H19: Net profit down 44% yoy on triple whammy, cut ...
LMP posted 1H19 net profit of HK$1.68b, down 43% yoy, in line with its profit warning. This was mainly due to a drop in both sales volume and ASP of containerboard amid the prolonged US-China trade war and hike in OCC cost given China’s tighter restriction on OCC imports. We cut 2019-21 net profit forecasts by 12%, 19% and 19% respectively, based on lower sales volume and ASP of containerboard given escalating US-China trade tension. Maintain SELL and cut target price to HK$3.50.
- Arandi Ariantara
- Chaiwat Arsirawichai
- Charles Wong Kok Min
- Jacquelyn Yow Hui Li
- John Cheong Ming Chern
- Johnny Yum Chung Man
- K Ajith
- Ken Lee
- Kong Ho Meng
- Kowit Pongwinyoo
- Leow Huey Chuen
- Lucas Teng Yao Yang
- Napat Vorajanyavong
- Neo Chen Wentao
- Nick Liu Sunliang
- Robin Yuen
- Sandra Huang Jieqiong
- Shaun Tan
- Tanaporn Visaruthaphong
- Thananchai Jittanoon
Regional Morning Notes - Wednesday, August 14, 2019
CHINA Sector Machinery: Excavator sales accelerated in July, easing market concerns. Results CIFI Holdings (884 HK/BUY/HK$4.22/Target: HK$6.24): 1H19: Sales grow in line with expectations. Lee & Man Paper (2314 HK/SELL/HK$4.01/Target: HK$3.50): 1H19: Net profit down 44% yoy, in line. Cut target price to HK$3.50 on weaker demand outlook for containerboard. Nexteer (1316 HK/HOLD/HK$7.51/Target: HK$8.00): 1H19: Results missed estimates; downgrade from BUY to HOLD with a lower target price of HK$8.0...
02314 LEE & MAN PAPER MANUFACTURING LIMITED
PTT PTT PUBLIC COMPANY LIMITED
F34 WILMAR INTERNATIONAL LIMITED
00884 CIFI HOLDINGS (GROUP) CO. LTD.
WTON WIJAYA KARYA BETON
00027 GALAXY ENTERTAINMENT GROUP LIMITED
C52 COMFORTDELGRO CORPORATION LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
FUYU FU YU CORP LTD
1316 NEXTEER AUTOMOTIVE GROUP LTD
CPALL-R CP ALL PCL NVDR
89 SHENZHEN AIRPORT
- Charles Wong Kok Min
- Johnny Yum Chung Man
- Joyce Chan Pui Lai
- K Ajith
- Ken Lee
- Neo Chen Wentao
- Nick Liu Sunliang
- Robin Yuen
- Sandra Huang Jieqiong
- Shaun Tan
Greater China Daily: Wednesday, August 14, 2019
KEY HIGHLIGHTS CHINA Sector Machinery Excavator sales accelerated in July, easing market concerns. Results CIFI Holdings (884 HK/BUY/HK$4.22/Target: HK$6.24) 1H19: Sales grow in line with expectations. Lee & Man Paper (2314 HK/SELL/HK$4.01/Target: HK$3.50) 1H19: Net profit down 44% yoy, in line. Cut target price to HK$3.50 on weaker demand outlook for containerboard. Nexteer (1316 HK/HOLD/HK$7.51/Target: HK$8.00) 1H19: Results missed estimates; downgrade from BUY to HOLD with a lower tar...
- Johnny Yum Chung Man
- Ken Lee
Paper - NDP guides on lacklustre 2H19 outlook.
Since we downgraded the paper sector to UNDERWEIGHT on the breakup of trade talks between the US and China in May, stock prices of NDP and LMP have tumbled 15% and 6% respectively on a drop in paper prices before the rebound yesterday. NDP’s management recently guided a pessimistic 2H19 outlook. Yesterday, stock prices rallied 6-7% on euphoria of a potential US-China trade deal at the G20 Summit, but we maintain UNDERWEIGHT on the sector on earnings headwinds amid the prolonged US-China trade ...
- Johnny Yum Chung Man
- Ken Lee
Paper - Downgrade on unexpected break-up of trade deal.
The escalation of the trade war between the US and China came as a surprise to us and the market, and this will hit China’s containerboard paper industry hard by dragging demand and boosting raw material cost. Slash 2019-21 EPS estimates for NDP and LMP by 19%/30%/32% and 12%/22%/25% respectively. Downgrade NDP from BUY to SELL and LMP from BUY to HOLD and cut their target prices from HK$11.00 and HK$9.00 to HK$6.50 and HK$6.00 respectively. Downgrade the sector from MARKET WEIGHT to UNDERWEIG...
- Johnny Yum Chung Man
- Joyce Chan Pui Lai
- Ken Lee
- Neo Chen Wentao
- Sandra Huang Jieqiong
Greater China Daily: Tuesday, March, 12, 2019
KEY HIGHLIGHTS CHINA Results China Resources Cement Holdings (1313 HK/BUY/HK$7.97/Target: HK$9.27) 2018: Record-high results in line with expectations; stable earnings outlook in 2019. Lee & Man Paper (2314 HK/BUY/HK$6.92/Target: HK$9.00) 2018: Profit down 3.2% yoy, slightly below expectations. TRADERS’ CORNER Texhong Textile (2678 HK): Trading Buy Range Zhou Hei Ya (1458 HK): Trading Buy Range
- Johnny Yum Chung Man
- Ken Lee
Lee & Man Paper - 2018: Profit down 3.2% yoy, slightly below expectati...
2018 net profit came in below expectation at HK$4.88b, down 3% yoy, due to a margin squeeze in 2H18 given weakened demand amid the US-China trade dispute. Looking ahead, we expect LMP’s earnings to recover in 2019 in tandem with paper prices and stabilised demand amid the government stimulus and easing trade tensions between China and the US. Keep 2019-20 net profit forecasts at HK$5.09b/HK$5.35b respectively. Maintain BUY. Keep target price at HK$9.00.
- Desmond Chong Chee Wai
- Edward Lowis
- Johnny Yum Chung Man
- Ken Lee
- Leow Huey Chuen
- Malaysia Research Team
- Neo Chen Wentao
- Sandra Huang Jieqiong
- Singapore Research Team
- Thunya Sutavepramochanon
Regional Morning Notes - Tuesday, March 12, 2019
CHINA Results China Resources Cement Holdings (1313 HK/BUY/HK$7.97/Target: HK$9.27): 2018: Record-high results in line with expectations; stable earnings outlook in 2019. Lee & Man Paper (2314 HK/BUY/HK$6.92/Target: HK$9.00): 2018: Profit down 3.2% yoy, slightly below expectations. INDONESIA Results London Sumatra Indonesia (LSIP IJ/HOLD/Rp1,235/Target: Rp1,200): 4Q18: Miss expectations. Downgrade to HOLD. MALAYSIA Sector Electronics Manufacturing Services: Prime beneficiary of FDI diversion...
- Duncan Chan
CSCI-Paper-Lee & Man Paper (2314 HK)：Cost efficient a rising competi...
Cost efficient a rising competitive advantage Lee & Man Paper (“L&MP”) posted a solid set of interim results with net profit growth of 35.8% YoY, driven by a record high unit net dollar margin, beating both market and our expectations. We expect the company’s overall profitability to remain stable in the 2H of the year which tends to be the traditional high season. In anticipation of the continuous production efficiency improvement, we have raised our net profit estimates for FY18E/FY19E by ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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