CITIC Securities International published a report stating that the dredging industry is benefiting from an environment of high demand and low supply. It is expected that Xiangyu dredging will also benefit from this, giving Xiangyu dredging a “buy” rating for the first time, with a target price of 2.9 yuan. According to CITIC Securities International, as of the end of 2011, the orders on hand for Xiangyu Dredging reached 2,489 billion yuan (same below), which is 2.19 times its 2011 turnover, while in 2012 it also signed new orders of 526 million yuan. It is believed that the number of orders will record a strong increase. It is predicted that during the period from 2012 to 14, the amount of new contracts signed will reach 2,026 billion yuan and 2.2 billion yuan respectively.
中信：首予翔宇疏浚(00871-HK)「买入」评级，目标价2.9元
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