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It is higher on hopes of stronger earnings going forward after its net profit in the first half rose 123.6% yoy, dealers said.
Luzhou said it is adding new production lines to its existing manufacturing facility to meet burgeoning demand for corn sweeteners in China. "Our increased production capacity for high fructose syrup will enable us to meet demand from our customers especially in the beverage industry. We are confident we will be able to continue to benefit from the growing trend to use corn sweeteners," Luzhou managing director Niu Jixing said last month after announcing the company's first half results.
Westcomb Securities, one of the few brokerages covering the stock, said it expects Luzhou's net profit to rise from 76.62m yuan last year to 111.16m this year, 120.04m next year and 137.07m in 2008. "We are optimistic on the short- to medium-term prospects of the company. However, we are recommending a 'hold' on the stock as we feel the share price has factored in most of this optimism," Westcomb said in a recent note.
Maybe pushing to test $0.80 in coming day.
Support is at $0.71. Suggest you let go when price hits below that.
Oops, bought at $0.755......
Dear Gurus
Using TA, pl advise at what point to cut loss. tks.
Luzhou is hot item, ez going toward $0.80 cents and beyond, however trade with care co's ez going North oso ez come to d South, in good time tested to $1.06
CIMB-GK is a superbull analyst. I would take all research reports with a pinch of salt. Apply safety margins to the target prices according to how risk adverse you are. The higher the target price from the last traded price, the bigger the safety margin.
Which are the firms that gives more reliable and fair reports ? Perhaps our gurus and veterans can share their views with us.
Maybe i am biased but take all local report with a pinch of salt. escpecially westcomb. I know coz my friend working inside there...
Westcomb has a price target of $0.70.
Dear Guru,
Why is Luzhou not moving. Stagnant around 0.835-0.84 since Thursday till today. Is this called 'Support' or 'Resistance'.
ppl take profit 1st after run up, rotational play, this time to CM
Cane sugar prices have risen 72% in the past year, and 32% YTD. Meanwhile, corn and corn sweetener prices have fluctuated 5-10% over the past 2 years. With a 3:1 substitution of corn sweetener to cane sugar for the same level of sugar content, corn sweetener is a cheaper alternative to cane sugar with potential for greater market penetration. Hence, many China F&B makers are increasingly switching to corn sweetener.
Luzhou broke through its resistance of $0.80 very convincingly with good volume and strong buying support. Should not be a problem hitting 0.910 (its next resistance) very soon.
Luzhou broke through its resistance of $0.80 very convincingly with good volume and strong buying support. Should not be a problem hitting 0.910 (its next resistance) very soon.
anything to do with starch, ethanol sure up,.. can produce energy..
Luzhou is still a hot, going for a dollars ??
China's production of starch-based sweeteners is expected to grow by more than 20% to reach 5 m metric tons in 2006-07. High sugar prices are making them more competitive as the cost of producing corn sweetneners is now significantly lower than for refining sugar. Hence, many China F&B makers are increasingly switching to these cheaper alternatives, which is a close sugar substitute in uses such as soft drinks.
To meet the fast growing demand from downstream customers, Luzhou has brought forward product plans to Q3 and Q4 FY06. Furthermore, a new plant will be set up to increase production capacity by 150,000 tonnes. When completed by 1H07, total annual capacity will be 800,000 tonnes.
Peers are also not sitting still. They are also expanding their corn sweetners business and increasing crystallized glucose production.
I sold off all today. One of my favourite counters:). Maybe it might continue to go up
said something nice is what analyst can do, what more ?