Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Lesso Group Holdings Limited
  6. News
  7. Summary
    2128   KYG2157Q1029

CHINA LESSO GROUP HOLDINGS LIMITED

(2128)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

China Lesso : First Lady's China Visit Bears Fruit

12/24/2019 | 03:06am EDT

The stage is now set for Zimbabwe to adopt smart agriculture technology and boost food production following the arrival of a high-powered delegation from a Chinese multinational firm which intends to set up massive irrigation technology here at the invitation of First Lady Auxillia Mnangagwa.

This comes barely a month after Amai Mnangagwa's visit to China where various companies expressed willingness to invest in the country.

China Lesso Group, a Hong Kong stock exchange listed firm, deals in agriculture equipment, home equipment and PVC products.

They are targeting strategic partnerships with Zimbabwe in the agriculture sector.

The firm's representatives arrived in the country yesterday and were welcomed at the Robert Gabriel Mugabe International Airport by the First Lady and officials from the Ministry of Lands, Agriculture, Water and Rural Resettlement.

The delegation included Mr Tang Hai Bo the firm's secretary-general and his deputy Chen Bai Yi, Giang Bo Fu vice general manager and Jason Liu the overseas department sales manager.

Also part of the delegation are Mr Liang Jianxiong the director institution of cage and telecommunications pipeline, the sales manager Liu Jiu Fong and China Brand representative Liu Jia Huan.

The follow up visit by the Lesso Group comes just three weeks after Amai Mnangagwa made presentations about investment opportunities in Zimbabwe to several Chinese companies including China Lesso during her invitation to China by ChinaBrand International Commercial through her Angel of Hope Foundation.

The First Lady took the delegation to her office at Zimbabwe House where she officially handed them over to the Ministry of Lands, Agriculture, Water and Rural Resettlement for further engagements saying as a mother and a citizen, she had played her part.

The delegation is expected to meet President Mnangagwa tomorrow at his Kwekwe farm. The delegation is also expected to tour several other farms across the country to have an appreciation of the agriculture sector.

Amai Mnangagwa said the visit by China Lesso Group showed their commitment towards boosting the country's agricultural sector and ensure food security.

The First Lady also urged the Ministry of Lands to utilise the opportunity adding that agriculture is the backbone of any nation's economy.

"I am in shock as it is less than a month since my return from China and Lesso Group has already made a follow-up visit.

"It is a leading agriculture firm in China and their visit shows their commitment, love for Zimbabwe and unity between the two countries. Their visit is also important to us as a nation," she said.

Amai Mnangagwa said according to the Ministry's programme, the delegation will visit farms in different provinces.

"Since it is the number one company in China in terms of agriculture, they are going to visit most of the farms across the country. They will pick the problems we are currently facing as a country in the agriculture sector and see how best they can fuse in their advanced agricultural technology.

"I hope the Ministry of Agriculture will utilise this visit to revamp our technology because the technology we saw at China Lesso is way advanced. Zimbabwe is open for business and as a citizen, I would love to see my country grow," the First Lady said.

Head of the delegation Mr Tang Hai Bo said they were in the country in response to the First Lady's call to invest in Zimbabwe and explore further opportunities.

"We hope to spread our advanced agriculture technology in Zimbabwe to improve its food security.

"We have been doing a lot of research on how to counter climate change-induced drought which many countries are facing and the knowledge we have will also help Zimbabwe.

"We want to see Zimbabwe's agricultural sector improving," he said.

Speaking on behalf of the Ministry of Lands Mrs Medlinah Magwenzi said the follow-up visit by the Chinese would unlock massive benefits for the nation.

"This is a dream come true because what we saw as an eye-opener in China has now come to materialise," she said.

"We are grateful that they have come to Zimbabwe and they have come at the right time. We are in the summer season and we have crops which are showing moisture stress. We have water in our dams, but the water is not enough. Also the irrigation systems we use in Zimbabwe like drip or sprinkler are exposed to evaporation.

"Lesso Group has advanced technology like micro irrigation which drops water directly onto the plant root thereby reducing loss of water through evaporation.

Mrs Magwenzi said Zimbabwe is not receiving enough rains to sustain irrigation, hence the need for advanced technology.

"We are going with them around the country so that they see the set-up we have. They will also have an opportunity to present their set-up and I am convinced that we will be a different Zimbabwe."

ChinaBrand, which is owned by Mrs Juliana Elhawary, invited the First Lady to China following her empowerment work through her charity arm for the transformation of Zimbabwe.

She went with a delegation and had meetings with several Chinese firms which expressed interest to invest in Zimbabwe.

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

All news about CHINA LESSO GROUP HOLDINGS LIMITED
07/15China Lesso Group Holdings Limited and Its Wholly-Owned Subsidiary China Less..
CI
06/21CHINA LESSO GROUP HOLDINGS LIMITED : Ex-dividend day for final dividend
FA
06/15China Lesso Group Holdings Limited Declares Final Dividend for the Year Ended..
CI
04/25CHINA LESSO : Form of proxy for use at the annual general meeting to be held on ..
PU
04/25CHINA LESSO : Proposed general mandates to issue and repurchase shares and propo..
PU
03/29China Lesso Group Holdings Limited Recommends Final Dividend for the Year End..
CI
03/29China Lesso Group Holdings Limited Reports Earnings Results for the Full Year..
CI
03/29China Lesso Group Holdings Limited Reports Earnings Results for the Full Year..
CI
2020China Lesso Group Holdings Limited agreed to acquire Operations in Malaysia a..
CI
2020CHINA LESSO GROUP HOLDINGS LIMITED : Ex-dividend day for interim dividend
FA
More news
Financials
Sales 2021 33 518 M 5 188 M 5 188 M
Net income 2021 4 434 M 686 M 686 M
Net Debt 2021 6 721 M 1 040 M 1 040 M
P/E ratio 2021 11,3x
Yield 2021 2,91%
Capitalization 50 197 M 6 458 M 7 769 M
EV / Sales 2021 1,70x
EV / Sales 2022 1,43x
Nbr of Employees 16 300
Free-Float 31,3%
Chart CHINA LESSO GROUP HOLDINGS LIMITED
Duration : Period :
China Lesso Group Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA LESSO GROUP HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 16,18 CNY
Average target price 17,80 CNY
Spread / Average Target 10,0%
EPS Revisions
Managers and Directors
Man Lun Zuo Chief Executive Officer & Executive Director
Luen Hei Wong Chairman
Kwok Ho Wong Independent Non-Executive Director
Zhi Gang Tao Independent Non-Executive Director
Fang Lan Independent Non-Executive Director