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    2313   KYG8087W1015

SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED

(2313)
  Report
Delayed Hong Kong Stock Exchange  -  03:08 2022-12-09 am EST
86.65 HKD   +9.06%
12/01Beijing Pandemic Outlook, Fed Chair Comments Boost Hong Kong Shares
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10/21Hong Kong Hang Seng Down 0.4% on Pandemic, China Outlook
MT
10/05ADRs End Mixed, Immuron and Shenzhou Trade Actively
DJ
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Shenzhou Shares Rebound After Losing Streak

10/05/2022 | 02:00am EST

By Yifan Wang


Shares of Chinese apparel maker Shenzhou International Group Holdings Ltd. rose sharply, rebounding from a six-session selloff.

The stock was recently 14% higher at 67.50 Hong Kong dollars (US$8.50), on track for its biggest one-day percentage gain since 2009.

Shenzhou's advance came as shares in Hong Kong rallied on Wednesday, catching up with Wall Street's strong gains over the past two days.

Analysts say Shenzhou's gains are likely temporary, after days of steep losses as the market priced in a weaker order outlook from clients and a potential global recession.

Improved investor sentiment in global equities, driven in part by the Reserve Bank of Australia's smaller-than-expected interest-rate increase on Tuesday, gave Shenzhou an extra boost.

Since the overall apparel sector's valuations have dropped to a bottom, "there could be a relatively strong rebound in the near term," KGI Securities analyst Jenny Liu says. "But in terms of order momentum and the industry's fundamentals, there is no substantial improvement."

Inventory levels at many clothing brands have risen in recent months, and companies are facing difficulties reducing their stockpile amid a slowing global economy and low consumer spending, she said. This means "order volume for suppliers would likely remain very weak into the fourth quarter and early next year," Ms. Liu said.

The weak quarterly results and high inventory levels of Nike Inc., Shenzhou's largest customer, dealt a further blow to the apparel supplier's earnings prospects.

Nike's worse-than-expected earnings and downbeat margin guidance led to a series of target-price cuts from investment banks and brokerage firms, including Citi and Bocom International.

Shenzhou could face shrinking profitability and potential order cuts, as the company "may share the margin pressure [of Nike] given the current excess inventory issue," Citi analysts said in a recent note.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

10-05-22 0159ET

Stocks mentioned in the article
ChangeLast1st jan.
NIKE, INC. -1.74% 109.42 Delayed Quote.-33.19%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED 9.06% 86.65 Delayed Quote.-42.19%
All news about SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
12/01Beijing Pandemic Outlook, Fed Chair Comments Boost Hong Kong Shares
MT
10/21Hong Kong Hang Seng Down 0.4% on Pandemic, China Outlook
MT
10/05ADRs End Mixed, Immuron and Shenzhou Trade Actively
DJ
10/05Hong Kong Hang Seng Up 5.9%, Tech Issues Rally
MT
10/05Hong Kong Stocks Rebound; Shenzhou International Surges 14%
MT
10/05Hong Kong shares log best day in almost 7 weeks, consumer discretionary stocks shine
RE
10/05Shenzhou Shares Rebound After Losing Streak
DJ
10/05Hong Kong stocks track strong overseas markets, HSBC soars
RE
09/29Shenzhou International Makes $331.3 Million H1 Profit
MT
08/31FTSE Russell makes additions including PetroChina in review of China indices
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Analyst Recommendations on SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
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Financials
Sales 2022 27 492 M 3 952 M 3 952 M
Net income 2022 4 668 M 671 M 671 M
Net cash 2022 659 M 94,7 M 94,7 M
P/E ratio 2022 25,1x
Yield 2022 2,29%
Capitalization 116 B 16 730 M 16 730 M
EV / Sales 2022 4,21x
EV / Sales 2023 3,66x
Nbr of Employees 105 100
Free-Float 52,7%
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Technical analysis trends SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 77,42 CNY
Average target price 97,80 CNY
Spread / Average Target 26,3%
EPS Revisions
Managers and Directors
Guan Lin Huang General Manager & Executive Director
Cun Bo Wang Executive Director & Head-Finance
Jian Rong Ma Chairman
Hui Guo Xu Deputy General Manager
Xian Pin Jiang Independent Non-Executive Director
Sector and Competitors