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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Lesso Group Holdings Limited    2128   KYG2157Q1029

CHINA LESSO GROUP HOLDINGS LIMITED

(2128)
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End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 01/24
10.94 HKD   -0.55%
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China Lesso : First Lady Courts Chinese Investors

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12/03/2019 | 11:07am EST

First Lady Auxillia Mnangagwa is in China where she is holding fruitful discussions and striking business deals with Chinese companies that are keen to invest in Zimbabwe.

The Angel of Hope Foundation Patron is leading a high-powered delegation comprising business people and officials from various Government ministries.

Today the delegation met Tianying Agricultural Facility Company of China Lesso led by its manager Jiangbo Fu and the company's partners- Seacage Agricultural and Telecommunication Pipeline Institute of China's Lesso led by its President Jianxiong Liang.

The team also held a meeting with Wuzheng group, which manufactures farming equipment. The firm also has interests in refuse collection and recycling.

Wuzheng Group's General Manager of Foreign Business Department Xiweng Zhang said after signing the MOU, they will be geared to go.

Amai Mnangagwa's visit to China with a business delegation is the first of its kind which underlines her undying mission to rebuild Zimbabwe's ailing economy.

The companies she has visited have expressed willingness to invest in Zimbabwe and set up their companies there, employing hundreds of people.

Amai Mnangagwa is confident Zimbabwe's agro-based economy will reap immense benefits from partnerships with the Chinese companies.

Speaking on the sidelines of the business meeting, the First Lady said she had been invited by ChinaBrand International Commercial as patron of Angel of Hope Foundation and First Lady of Zimbabwe.

ChinaBrand which is owned by Juliana Yutao-Jiang invited the First Lady to China after following her empowerment work for the transformation of Zimbabwe.

"I am not in the Government structures hence when the Chinese people advised me on the areas they would want to invest in Zimbabwe, I saw it prudent to engage ministries so that they get first hand information and also for them to exchange notes with the Chinese delegation.

"I then asked for permission to come with them here together with individual business people. Back home I also work with ministries in executing my philanthropic work," said Amai Mnangagwa.

The First Lady promised the potential investors that since they have engaged her, she will set a desk in her office and a committee so that the investors get assistance on time for the processing of their applications.

"We are in the new dispensation which is bringing new things, new ideas. We need a lot of friends, investors in our country. As the mother of the nation, I have come with my delegation to tell the Zimbabwean story.

"President Mnangagwa is working on the transformation of our economy hence we need investors to come aboard. We want the Chinese business people to trust our country in every sphere of business.

"Zimbabwe is indeed open for business hence opportunities are plenty. I am therefore inviting Chinese companies, as many as possible to come to Zimbabwe," said Amai Mnangagwa.

The Zimbabwean delegation is Tuesday afternoon also expected to have another meeting with over 100 Chinese companies under one roof which were mobilised by ChinaBrand.

More details to follow

Copyright The Herald. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (CNY)
Sales 2019 26 337 M
EBIT 2019 4 461 M
Net income 2019 2 890 M
Debt 2019 4 890 M
Yield 2019 3,11%
P/E ratio 2019 10,4x
P/E ratio 2020 8,91x
EV / Sales2019 1,34x
EV / Sales2020 1,15x
Capitalization 30 290 M
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Mean consensus BUY
Number of Analysts 6
Average target price 9,73  CNY
Last Close Price 9,76  CNY
Spread / Highest target 40,5%
Spread / Average Target -0,39%
Spread / Lowest Target -31,1%
EPS Revisions
Managers
NameTitle
Man Lun Zuo Chief Executive Officer & Executive Director
Luen Hei Wong Chairman
Guang Gen Liu Chief Financial Officer
Ji Yue Yang Chief Technology Officer
Xiao Ping Zuo Executive Director & Vice President