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00698 TONGDA GROUP
RTNominal down0.250 -0.010 (-3.846%)
Research Report

09/03/2021 17:38

{I-bank focus}BOCOM lifts Tongda Group (00698) to HK$0.65

[ET Net News Agency, 9 March 2021] BOCOM International Research lifted its target price
for Tongda Group (00698) to HK$0.65 from HK$0.5 and maintained its "neutral" rating.
The research house said Tongda's 2H 2020 earnings recovered strongly after the
disruptions in 1H, driven by both revenue and GPM improvements.
Helped by the recovery in smartphone demand, BOCOM expects Tongda's handset casing
shipments to rise 7% in 2021, mostly driven by Xiaomi/Vivo. It also expects revenue
contribution from Samsung to decrease this year.
BOCOM remains cautious on the name due to (1) intense pricing competition of the
smartphone casings industry, and (2) uncertainties in further GPM recovery. (KL)

Remark: Real time quote last updated: 20/10/2021 17:59
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