[ET Net News Agency, 11 January 2021] CCB International Securities initiated coverage
on Shinsun Holdings Group (02599) with an "outperform" rating and a target price of
HK$7.4.
The research house Shinsun is a rapidly growing, large scale nationwide real estate
developer deeply rooted in the Yangtze River Delta (YRD). Shinsun's contracted sales CAGR
for 2017-2019 was 43% or RMB116b by the end of 2019. In 2019 it reported 150% revenue
growth and 630% higher core profit.
CCBIS expects growth to normalize in 2020-22 as contracted sales at Shinsun have reached
a large scale of over RMB100bn. It forecasted revenue CAGR at the firm of 31% for 2020-22.
It looks for 27% core profit CAGR at Shinsun in 2020-22. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02599 SHINSUN HOLD GP
Nominal 
0.175 0.000 (0.000%) Research Report
11/01/2021 15:24
CCBIS starts Shinsun (02599) at "outperform" and HK$7.4
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