Postal Finance down Xinyi Glass to hold

Postal Finance: down Xinyi Glass to hold rating hot column capital flows thousands of thousands of stocks the latest Rating Rating diagnosis simulated trading client 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. The Xinyi Glass (868) of the rating to hold, because the float glass demand in the short term or have peaked with more and more domestic city announced the purchase of real estate, we believe that the float glass prices downward risk began to increase. After all, the recent sharp rise in the price of float glass (in the past two months rose by up to 16%) is partly due to the mainland real estate sales boom triggered by the mainland real estate developers to accelerate the completion of its construction projects. As the demand for float glass is about 70% is derived from real estate construction, we believe that the negative news from the real estate market or affect the market sentiment of the building materials industry. We are still on the Xinyi Glass (868, $7.10) are optimistic about the long-term development of the glass industry, for improving the relationship between supply and demand. However, the stock price in the past 6 months, even dividends have been brought to investors in return of 56%, its current valuation has become reasonable. As a result, we lowered its rating to hold and advised investors to wait for a better buy point. In retrospect, Xinyi glass half profit rose 45% to 1 billion 369 million yuan (earnings per share of 0.353 yuan), because revenue grew 11% to $5 billion 885 million and gross margin expansion of 8 percentage points. It is particularly encouraging is that the float glass gross margin from 8.7% in the first half of 2015 and 12.9% in the second half of the first half of this year continued to improve to 22.3%, and other product categories of automobile glass and architectural glass in the gross margin from the first half of last year the level of expansion of 7.3 percentage points and 4.6 percentage points to 48.7% and 39%. We think the Xinyi Glass in the past 1 years to improve the profitability of the downstream demand is not only because of better, but also because the industry new capacity is limited and the cost of production decline. However, the above factors have started to weaken the positive: 1) in the city continue to introduce some measures to cool the property market, or from the construction demand will drop; 2) oil prices recently again rebounded to $50 in nearly a year high, such as the continued upward trend, or will the production cost advantage to the company in 2017 will not continue this year the first half of the downturn for the company to bring. Recall the company had approximately three copies of one production line is located in the Southern China area, and the area of the natural gas price is dominated by the market and the trend of oil prices has great relevance and 3) although the approval of local government concerns about environmental issues rather than a new production line, but some idle capacity or because of float glass the recent sharp rise in prices and restart production line. Therefore, we believe that the public opinion相关的主题文章: