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    1608   KYG939541085

VPOWER GROUP INTERNATIONAL HOLDINGS LIMITED

(1608)
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VPower International : CMB International Securities Maintains High Conviction "BUY" Rating on VPower Group

07/29/2020 | 02:27am EDT

HONG KONG, Jul 29, 2020 - (ACN Newswire) - - CMB International Securities today issued a research report on Hong Kong listed VPower Group International Holdings Limited ("VPower Group", stock code:1608), a leading distributed power generation station owner and operator in Asia with a focus on its investment in the liquefied natural gas (LNG) to power in Myanmar. The firm maintained a high conviction "BUY" rating on VPower Group with a target price of HK$5.47, representing a potential growth of 82.9% as compared to last closing price.

CMB International Securities placed its key focus on VPower Group's iconic Myanmar joint venture and expected it will generate more than 20% internal rate of return, with superior profitability comparing with its other IBO (Investment, Building and Operating) projects.

In addition, CMB International Securities mentioned the LNG cost, utilization rate, and the energy efficiency of the gensets as the key exposures that the joint venture could manage for higher profitability. Yet, the firm believes it is a good timing for VPower Group to expand into LNG-fueled distributed power projects, with the Asia LNG spot market is currently at a range of 3-year low.

CMB International Securities is confident that VPower Group will deliver high earrings growth in FY20/21E, with net profit expected to reach HK$711 million and HK$1,169 million respectively.

Headquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It principally engages in power system integration (SI) business, covering designing, integrating and sale of gas-fired and diesel-fired engine-based gen-sets and power generation systems, and Investment, Building and Operating (IBO) business, involving investing in, building and operating distributed power stations to supply reliable electricity. It is now a leading distributed power station owner and operator in Asia.

Copyright 2020 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2021 3 117 M 401 M 401 M
Net income 2021 752 M 96,7 M 96,7 M
Net Debt 2021 2 361 M 304 M 304 M
P/E ratio 2021 7,77x
Yield 2021 3,20%
Capitalization 4 517 M 581 M 581 M
EV / Sales 2021 2,21x
EV / Sales 2022 1,76x
Nbr of Employees 628
Free-Float 23,3%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 1,69 HKD
Average target price 3,57 HKD
Spread / Average Target 111%
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Managers and Directors
Chong Man Lee Co-Chief Executive Officer & Executive Director
Tai Hong Au Yeung Co-Chief Executive Officer & Executive Director
Kam Shing Chan Chief Financial Officer & Secretary
Yee Chun Lam Executive Chairman
Siu Yuen Lo Chief Operating Officer & Executive Director
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