20170207-兴业证券-Weekly_A-share_Market_Recommendations_13页_384kb

报告摘要

Weekly A-share Market Recommendations Summary

Core Content Overview

This document presents weekly stock recommendations from the Industrial Securities Research Institute dated February 7, 2017, focusing on key companies across various sectors. It includes EPS forecasts, investment highlights, and potential risks for each listed company, with ratings ranging from BUY to STRONG BUY.

Top Stock Recommendations

Company	Ticker	2016 EPS (CNY)	2017 EPS (CNY)	2018 EPS (CNY)	Rating	Inclusion Time
Yuan Longping High-tech Agriculture	000998:SZ	0.48	0.62	0.84	STRONG BUY	Nov 28, 2016
China Grand Automotive Services	600297:SH	0.51	0.66	0.74	STRONG BUY	Jan 23, 2017
Huadong Medicine	000963:SZ	2.86	3.53	4.28	STRONG BUY	Jan 9, 2017
Hangzhou Everfine Photo E Info	300306:SH	0.31	0.87	0.99	BUY	Dec 12, 2016
Ningbo Huaxiang Electronic	002048:SZ	1.23	1.83	2.22	BUY	Jan 23, 2017
Wanhua Chemical Group	600309:SH	1.49	1.88	2.35	STRONG BUY	Dec 5, 2016
Jiangsu Changjiang Electronics Tech	600584:SH	0.11	0.78	1.29	STRONG BUY	May 17, 2016
Sino Great Wall	000018:SZ	0.32	0.46	0.64	STRONG BUY	Dec 26, 2016
Shandong Hualu Hengsheng Chemical	600426:SH	0.7	0.88	1.22	STRONG BUY	Nov 7, 2016
Bank of Nanjing	601009:SH	1.44	1.74	/	BUY	Aug 29, 2016

Key Companies and Their Highlights

Yuan Longping High-tech Agriculture (000998: SZ)

Sector: Agriculture
Rating: STRONG BUY (Maintained)
EPS Forecast: 2016: CNY 0.48, 2017: CNY 0.62, 2018: CNY 0.84
Investment Highlights:
- New product launch boosts earnings.
- Valuation at historical low with limited downside risk.
Potential Risks:
- Weather uncertainty
- Grain price fluctuations

China Grand Automotive Services (600297: SH)

Sector: Automobile
Rating: STRONG BUY (Maintained)
EPS Forecast: 2016: CNY 0.51, 2017: CNY 0.66, 2018: CNY 0.74
Investment Highlights:
- Leading car distributor in China.
- Expected M&A and transformation to after-sale market.
- Acquisition of Baoxin Auto Group strengthens market position.
Potential Risks:
- Lower-than-expected product sales
- Slow progress in new product R&D

Huadong Medicine (000963: SZ)

Sector: Pharmaceutical
Rating: STRONG BUY (Maintained)
EPS Forecast: 2016: CNY 2.86, 2017: CNY 3.53, 2018: CNY 4.28
Investment Highlights:
- Strong competitive product mix and sales force.
- Fundraising improves financial flexibility.
- Business is entering a new growth stage.
Potential Risks:
- Lower-than-expected product sales
- Slower-than-expected progress in new product R&D

Hangzhou Everfine Photo E Info (300306: SH)

Sector: Computer
Rating: BUY (Maintained)
EPS Forecast: 2015: CNY 0.31, 2016: CNY 0.87, 2017: CNY 0.99
Investment Highlights:
- Strategic expansion into AR, IoT, and big data.
- Biometric recognition technology widely used in key sectors.
- Expected to explore more AI applications.
Potential Risks:
- Intensifying industry competition
- Failure in M&A activities

Ningbo Huaxiang Electronic (002048: SZ)

Sector: Automobile
Rating: BUY (Maintained)
EPS Forecast: 2016: CNY 1.23, 2017: CNY 1.83, 2018: CNY 2.22
Investment Highlights:
- Earnings resilience due to asset acquisition and loss reduction.
- Strategic partnerships with major automotive companies.
- Expansion into carbon fiber and automotive electronics.
Potential Risks:
- Severe losses from German subsidiary
- Possible rejection of private placement scheme

Wanhua Chemical Group (600309: SH)

Sector: Chemical Raw Materials
Rating: BUY (Maintained)
EPS Forecast: 2016: CNY 1.49, 2017: CNY 1.88, 2018: CNY 2.35
Investment Highlights:
- Stable MDI supply and improved productivity.
- Expansion into new business divisions.
- Potential to become a top chemical materials company.
Potential Risks:
- Slower-than-expected downstream demand recovery
- Raw material price volatility

Jiangsu Changjiang Electronics Technology (600584: SH)

Sector: IC
Rating: STRONG BUY (Revised Up)
EPS Forecast: 2016: CNY 0.11, 2017: CNY 0.78, 2018: CNY 1.29
Investment Highlights:
- Strong recovery in profitability.
- Strategic partnership with SMIC.
- Manufacturing base in Korea contributes significant revenue.
- Expected to lead China's semiconductor industry growth.
Potential Risks:
- Semiconductor industry downturn
- Integration with STATs ChipPAC may not meet expectations

Sino Great Wall (000018: SZ)

Sector: Construction
Rating: STRONG BUY (Maintained)
EPS Forecast: 2016: CNY 0.32, 2017: CNY 0.46, 2018: CNY 0.64
Investment Highlights:
- Strong recovery in earnings.
- Strategic partnership with SMIC.
- Expected to benefit from the OBOR initiative.
Potential Risks:
- Lower-than-expected newly-signed orders
- Slower progress in overseas projects
- Delays in fund collection

Shandong Hualu Hengsheng Chemical (600426: SH)

Sector: Fertilizer
Rating: STRONG BUY (Maintained)
EPS Forecast: 2016: CNY 0.7, 2017: CNY 0.88, 2018: CNY 1.22
Investment Highlights:
- Strong organic growth and technological strengths.
- Upcoming projects ensure steady earnings growth.
Potential Risks:
- Chemical product price downturn
- Raw material price fluctuations

Bank of Nanjing (601009: SH)

Sector: Banking
Rating: BUY (Maintained)
EPS Forecast: 2015: CNY 1.44, 2016: CNY 1.74
Investment Highlights:
- Strong fixed-income portfolio.
- Clients include local governments and SOEs with better creditworthiness.
Potential Risks:
- Systematic risk in the banking industry

General Notes

The report highlights companies with strong growth potential and favorable EPS forecasts.
STRONG BUY ratings are given to companies with the most promising outlooks.
BUY ratings are assigned to companies with moderate growth expectations.
Potential risks vary by sector, including market conditions, M&A outcomes, and industry-specific challenges.
The document emphasizes the importance of market valuation, business expansion, and strategic partnerships in driving future performance.

展开完整摘要