Hoshine Silicon Industry:Leader of Silicon Metal with High ROE and Low Valuation

作者: 张涓义
Leader of Silicon Metal with High ROE and Low Valuation

Shenwan Hongyuan Securities covered Hoshine Silicon Industry (SH.603260) today, preditcting a 2019 P/E ratio of 12X, down from the firm’s current level of 15x. Shenwan’s model is based on the core fact that for every 10% price hike of silicon metal, HOSHINE’s net profits increases by Rmb 1 bn, entailing huge valuation elasticities.

参与评论
收藏
qrcode
相关资讯
写评论

icon-emoji表情