World Precision Machinery

Morpheus
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13 years 1 month ago #5633 by Morpheus

Replied by Morpheus on topic Re:Re:Bright World

This baby has started to attract the attention from the institutional investors. Today DBS, soon it will be BNP Paribas and Citigroup, and then Merrill Lynch.

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Morpheus
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13 years 1 month ago #5634 by Morpheus

Replied by Morpheus on topic Re:Re:Re:Bright World

Join me as I lead the brotherhood of NextInsight to charge towards 80 cents. When is this Company announcing its 1Q2011 results?

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yeng
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13 years 2 weeks ago #5784 by yeng

Replied by yeng on topic Re:Bright World

When 1Q results announcement?
80 cent target to be reached by when? Long road ahead > Current PE is not cheap.

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yeng
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13 years 2 weeks ago #5804 by yeng

Replied by yeng on topic Re:Bright World

Not-cheap can still rise! 63.5 cents this morning.

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pine
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13 years 2 weeks ago - 13 years 2 weeks ago #5805 by pine

Replied by pine on topic Re:Bright World

Mr Yeh, the stock may not be cheap but the growth seems strong. DBS V highlighted Bright World this morning:
We also believe there is a good chance stamping machine
manufacturer, Bright World should report strong numbers, all
thanks to multiple high value contract wins year-to-date and a
sturdy orderbook of RMB280-300m at the end of FY10. Based
on order fulfillment of between 6-8 months and expected
sustainable margins, we forecast Bright World’s earnings
would grow by 30-40% y-o-y to RMB38m in Q1. Based on our
conservative assumption that 2H growth may taper off from a
superb 1H, Bright World is still projected to grow earnings by
25% in FY11, which is decent and better than the average
growth of 20% for our universe of SMCs. We believe a
continuous flow of high value contract wins could pave the
way for more upside potential.

Last edit: 13 years 2 weeks ago by pine.

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Morpheus
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13 years 2 weeks ago #5806 by Morpheus

Replied by Morpheus on topic Re:Bright World

UOB KAYHIAN INITIATION ON BRIGHT WORLD
• Initiate coverage with BUY. Valuation is attractive with the stock trading at 7.4x 2011F PE and P/B of 1.3x. We initiate coverage with a BUY and a 12-month target price at S$0.98, based on 12x 2011F PE.
• Diversification and growth from automobile and home appliance
industries. BWPM has supplied stamping machines to Cosma International and Honda Guangzhou through its collaboration with AIDA Engineering. Since then, it has secured a sizeable Rmb13.4m order from Changchun First Auto Works and a maiden Rmb3m order from Dalian Locomotive. Sales to the home appliance segment benefit from the rapid pace of urbanisation and government subsidies to stimulate rural consumption. The automobile and home appliance
segments are expected to expand 40-50% and 30% respectively in 2011.

• Enhancing quality through collaboration with industry partners.
BWPM has entered into a technological alliance with Japan-based AIDA Engineering (AIDA). AIDA will use BWPM as a manufacturing partner to supply highperformance stamping machines for its customers in China. BWPM has upgraded its manufacturing capabilities by acquiring two sets of boring & milling machines from Italy-based PAMA to meet more stringent requirement for precision. Its technicians also participated in exchange programmes for training to improve the quality of welding.

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