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侨丰证券:建议在1.50元买入大成生化(00809-HK)

Qiaofeng Securities: it is recommended to buy Dacheng biochemical (00809-HK) at 1.50 yuan.

僑豐證券 ·  Jun 17, 2009 14:34  · Researches

Buying factors: in the long run, crude oil will be in short supply, and the use of agricultural products as raw materials for the production of polyol chemical products can still be used as substitutes, so it is believed that polyol chemical products have great potential for development in the domestic and other Asian markets. It is expected that the successful development of polyol projects will make a considerable contribution to its future in the foreseeable future.

Dacheng's current valuation has reflected all the negative factors. Its monthly cash flow is about 100 million yuan, cash on hand is maintained at 20 to 2.5 billion yuan, its forecast price-to-earnings ratio is 7 times, and its price-to-book ratio is 0.46 times, which fully reflects the adverse factors. Because of its sound earnings outlook, it seems to be undervalued by the market.

Yesterday, under the sharp fluctuations in the market, the stock price fell as low as 1.4 yuan. After 20 antennas were accepted, it went back to 1.55 yuan. Under the high selling pressure, you might as well consider buying on the bargain.

Purchase price: 1.50 yuan (current price 1.55 yuan)

Target price: 1.70 yuan

Stop-corrosion price: 1.40 yuan

The translation is provided by third-party software.


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