[ET Net News Agency, 4 September 2019] Goldman Sachs lowered its target price for
Shanghai Industrial (SIHL)(00363) to HK$20 from HK$21 and maintained its "buy" rating.
The research house said SIHL's 1H headline net profit grew 1% to HK$2bn, broadly in line
with Goldman's expectation. To the market's surprise, the company declared a special
dividend of one share of SIUD (00563) per SIHL share without cash dividends in 1H. Post
completion, SIHL will lower its SIUD ownership to 47.4% (versus 70% as of 1H) while
maintaining an unchanged 48.6% stake in SID.
On results, Goldman fine-tuned its FY2019-21 core EPS forecast by -2-4%. (KL)