Citi Chuyu Sheng Guan (0829.HK) bought the rating, with a target price of HK$12 (equivalent to 25 times the price-earnings ratio in 2011); indicating that the company's market share of the edible casings products market in the mainland is close to 80%, and its compound annual profit growth rate for the 10-12 fiscal year is expected to reach 29%; it believes that Shenguan has a leading position and bargaining power in the industry, while market growth continues to be strong, and the entry threshold is also high. The Crown closed at HK$9.33 yesterday.
花旗初予神冠(0829.HK)买入评级，目标价12港元
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