Guotai Junan International reaffirms the purchasing rating of AVIC 厦门安防科技职业学院

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? 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. The first half of 2016 was in line with expectations. The aviation parts sector revenue increased 15.4% year-on-year, and the aviation project revenue fell, AviChina in the first half of 2016 revenue rose 1.6%. Affected by less management costs, in the first half of 2016, the net profit of shareholders was RMB 504 million yuan, up 6.9%. However, from the China Aviation planning revenue fell 11%, significantly lower than expected, we think it is possible that in the first half of 2016 due to slower than expected revenue caused. We expect AVIC’s industrial performance to 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 new energy automotive market, AVIC photoelectric will still be a solid driving force for the profitability of avic. A slight increase in 2016 earnings forecasts, reiterated the "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) lower management costs due to lower R & D expenditures in 2016. 3) due to the impact of lower profit margins on the contracted projects of AVIC plan, the consolidated gross profit margin was reduced. As a result of the low valuation of AVIC planning projects, we maintained the target price of HK $6.70 and reiterated the "buy" rating. (both) go into Sina Finance shares

国泰君安国际:重申中航科工买入评级 新浪财经App:直播上线 博主一对一指导 新浪港股APP:实时行情 独家内参   港股还值不值得投资?出现了什么问题?未来出路在哪里?新浪港股发起“港股还有没有吸引力”大讨论,以理性、建设性的态度,欢迎关注港股、关注资本市场的人士,一起为港股建言献策,共谋港股市场的明天。来稿请至hkstock_biz@sina 。   2016年上半年业绩符合预期。由于航空零部件板块收入同比大增15.4%以及整机和航空工程的收入同比下跌,中航科工在2016年上半年收入同比上升1.6%。受到较少的管理成本的影响,2016年上半年股东净利录得人民币5.04亿元,同比上升6.9%。然而,来自中航规划的收入下降11%,大幅低于预期,我们认为可能是由于在2016年上半年慢于预期的收入确认所导致。   我们预计中航科工业绩将在2017年加速。我们预测L-15及歼-20将很快进行量产并且在军队开始服役,结合歼-10的加速生产,来自中航科工的整机以及零部件板块的业绩将会在2017 2018年显著改善。在新能源汽车市场的快速发展下,中航光电将仍然作为中航科工盈利的坚实的驱动力。   小幅上调2016年盈利预测,重申“买入”评级。主要假设调整包括:1)上调对中航光电、中航规划以及洪都航空的收入预测但下调对中航电子的收入预测。2)由于在2016年较低的研发开支,下调管理成本。3)由于来自中航规划的工程承包业务较低的利润率的影响,下调合并毛利率。由于中航规划工程承包业务较低的估值,我们维持6.70港元的目标价并重申“买入”评级。(双双) 进入【新浪财经股吧】讨论相关的主题文章: