[ET Net News Agency, 19 April 2018] UOB Kay Hian lifted its target price for GCL-Poly
Energy (03800) to HK$1.11 from HK$0.97, and upgraded its rating to "buy".
The research house said its recent conversation with GCL Poly suggests that R&D expenses
might not be as high as previously remarked by management, although it is unclear as to
how much lower they may be.
Factoring in margin improvement from DW technology and that polysilicon prices are 15%
higher yoy, the sell-down might be overdone, UOBKH said. Its revised 2018-20 net profit
estimates are Rmb2,129m (+20%), Rmb2,281m (+6%) and Rmb2,667m (+5%) respectively. (KL)
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03800 GCL TECH
Nominal 
1.150 +0.060 (+5.505%) Others
19/04/2018 14:46
[I-bank focus]UOBKH lifts GCL-Poly Energy (03800) to HK$1.11
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