[ET Net News Agency, 23 August 2019] Daiwa Research lowered its target price for Minth
Group (00425) to HK$28 from HK$33 and maintained its "buy" rating.
The research house cited Minth management being positive on its overseas market
expansion and the new battery-pack business in 2H 2019-2021, which should offset the
negatives from the weak market demand in China.
Daiwa expects Minth's revenue in China to be flat in 2H (from an 8% decline in 1H), led
by a likely market recovery. GPM is likely to come under pressure HoH in 2H on continual
pricing cuts, while Daiwa sees slight improvements, driven by its better product mix and
cost control.
Daiwa cut its 2019-21 EPS forecasts by 10-14% after factoring in its new China market
decline forecast for 2019 (-10%, versus -5% previously). (KL)
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00425 MINTH GROUP
Nominal 
13.000 -0.080 (-0.612%) Research Report
23/08/2019 12:31
{I-bank focus}Daiwa lowers Minth Group (00425) to HK$28
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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