CHEN HSONG 884112 - wer weiss was?
the specialist : CHEN HSONG 884112 - wer weiss was?
CSC Research Comment:The net results are below our expectations. However, the decline in profitability is primarily due to the inclusions of two non-recurring items. The two items are the HK$46 million full provision for diminution in value of a long-term investment in a Taiwan company, and the HK$11 million loss on disposal of a factory building resulting from the relocation of production to mainland China. Excluding non-recurring items, net profit after tax but before minority interests has increased by 40%. The recent consolidation has provided investors a golden opportunity to accumulate this quality industrial stock. ACCUMULATE at below HK$1.35.