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RTNominal down6.140 -0.060 (-0.968%)

23/10/2019 13:49

{I-bank focus}Huatai lowers SSY Group (02005) to HK$8.17

[ET Net News Agency, 23 October 2019] Huatai Research lowered its target price for SSY
Group (02005) to HK$8.17 from HK$9.36 and maintained its "buy" rating.
The research house said SSY's 9-month net profit of HK$759mn (up 17.2%) is below
Huatai's previous 2019 net profit growth estimate of over 25%, mainly on slower sales
volume growth of soft bags given the switch from plastic bottles is taking longer than it
However, Huatai believes active pharmaceutical ingredients (API) will generate revenue
from 4Q, and small-volume injection/moxifloxacin should gather sales momentum in the next
two years.
All in, Hautai cut 2019/2020/2021 EPS forecasts by 10/11/6% to HK$0.36/0.43/0.49, based
on peer-average 2020 PE of 19x. (KL)

Remark: Real time quote last updated: 03/04/2020 17:59
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