Guotai Junan International AviChina reiterated a buy rating ddrtys

Guotai Junan International: reiterated AviChina buy sina finance App: Live on-line blogger to tutor Sina Hong Kong APP: real time market exclusive reference stocks also worth the investment? What’s the problem? Where is the future of the way out? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. 2016 first half results in line with expectations. As a result of aviation parts sector revenue increased by 15.4% year on year, as well as the whole aircraft and aviation engineering revenue fell, AVIC branch in the first half of 2016 revenue rose by 1.6%. Less affected by the cost of management, the first half of 2016 net profit of 504 million yuan recorded by shareholders, an increase of 6.9%. However, revenue from AVIC planning fell 11%, significantly lower than expected, and we think it could be due to slower than expected revenue recognition in the first half of 2016. We expect the industry will accelerate in 2017. We forecast L-15 and f -20 will soon be in production and service with the army began, f -10 accelerated production, from AviChina machine parts and the performance of plate will be significantly improved in 20172018 years. In the rapid development of the new energy vehicle market, AVIC photoelectric will still be a solid driving force for the profitability of avic. Slight increase in 2016 earnings forecast, reiterated buy rating. The main assumption of adjustment includes: 1) to rise, planning and birchtek AVIC Hongdu Aviation revenue forecasts but lowered to the aviation electronics revenue forecast. 2) due to lower R & D spending in 2016, lower management costs. 3) due to the lower profitability of the project contracting business from the aircraft planning, cut the consolidated gross margin. Due to the low valuation of the aviation project contracting business, we maintain the target price of HK $6.70 and reiterated the buy rating. (both) to enter the Sina financial stocks] discussion相关的主题文章: