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Won Olympics sponsorship deal
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Nostradamus
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26-Sep-2006 18:30
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It said it is embarking on a further expansion drive to boost its annual production capacity by 25% to 360,000 tons by next month. The additional capacity forms the second phase of its expansion program. In August, Synear added 28,800 tons to bring its annual production capacity to 316,00 tons under phase one of the program. The expansion will enable the company to tap into the traditionally stronger demand in the fourth quarter of this year and first quarter of next year, it said. |
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red1721
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26-Sep-2006 15:05
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price looks pretty attractive now...I'm buying some of this counter today... |
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Nostradamus
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25-Sep-2006 18:36
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Deutsche Bank has raised its target price to $1.34 after the company posted robust earnings in the second quarter. On Friday, Synear reported that its net profit for the three months ended June rose 82.7% yoy to RMB106.92m. Deutsche Bank said the profit was 16% ahead of its estimate owing to better-than-expected sales and margins. "We are now more positive on Synear following its successful listing and appointment as the exclusive supplier of quick freeze food products to the Beijing 2008 Olympics Games. Growing number of distributors, more new product launches and improving spending power of Chinese bode well for the group," it said in a note to clients. |
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Nostradamus
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21-Sep-2006 19:02
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SBI E2 Capital says it has started coverage with a target price of $1.38. "We think that Synear is currently significantly undervalued as the market has not fully priced-in the company's sparkling growth prospects and scalable business model," SBI E2 Capital said in a note. "We believe that Synear is in a strong position to capture growth opportunities in both the domestic and export markets, having already built a firm base with its formidable market leadership position in the China quick freeze food industry," it said. SBI E2 expects Synear's net profit to gradually increase to RMB365.2m next year from RMB242.9m last year, to RMB479.3m next year and to RMB483.5m in 2008. |
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Nostradamus
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18-Sep-2006 20:19
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Rose ahead of Friday results and talks that it would be on a roadshow next week. |
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Nostradamus
Supreme |
05-Sep-2006 18:57
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Its unit Zhengzhou Synear Food Co Ltd has been selected by the Beijing Organizing Committee as exclusive supplier of quick-freeze food products to the 2008 Olympic Games, dealers said. The sponsorship deal is for a total of 41m yuan and will include fund support for the Games and quick-freeze food products, it said. Deustche Bank maintained its "buy" recommendation on the stock and gave a target price of $1.08, noting that the cost of the sponsorship was a "small price for huge success" in Synear's business. "The point to note is that this is a fantastic opportunity for Synear to leverage on its status as exclusive supplier, reinforce its corporate image and enhance business opportunities," Deutsche Bank analyst Calin Toh said in a note. Deustche Bank is keeping its net profit estimates for Synear at 334.1m yuan this year and 453.6m yuan next year. The company made 242.9m yuan in net profit in 2005. "In 2006-2007, we have projected a 23-24% yoy increase in marketing and distribution cost or an additional 56m yuan. Hence, no change to our forecast," it said. |
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