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UOBKH: China Shineway Pharmaceutical – Buy Target Price HK$8.00

Posted on August 31, 2022August 31, 2022 By alanyeo No Comments on UOBKH: China Shineway Pharmaceutical – Buy Target Price HK$8.00
China Shineway Pharmaceutical (2877 HK)

1H22: Earnings Growth Missed; Expect Better Revenue Growth In 2H22 Shineway’s 1H22 revenue grew 16.8% to Rmb1,815m and net earnings increased 7.3% yoy to Rmb331m. The earnings were lower than our and market estimates. We expect revenue to grow steadily by 18% yoy in 2022, supported by a steady business environment and strong TCM granule business expansion. Maintain BUY with a lower target price of HK$8.00.

China_Shineway_Pharmaceutical_Group_LtdClick here to Download Full Report in PDF

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Research - Equities Tags:China Shineway Pharmaceutical

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