关于本站
人大经济论坛-经管之家：分享大学、考研、论文、会计、留学、数据、经济学、金融学、管理学、统计学、博弈论、统计年鉴、行业分析包括等相关资源。
经管之家是国内活跃的在线教育咨询平台!
经管之家新媒体交易平台
提供"微信号、微博、抖音、快手、头条、小红书、百家号、企鹅号、UC号、一点资讯"等虚拟账号交易，真正实现买卖双方的共赢。【请点击这里访问】
TOP热门关键词
扫码加入金融交流群 |
CIBC投资分析：China GrenTech
CIBC - GRRF-Covering All of China's Cellular Bases Initiating with Sector Performer Rating 8-13-07.pdf
30 pages August-2007
Covering All of China's Cellular Bases
-Effective 8/10/07, we're initiating coverage of China GrenTech with a Sector
Performer rating. GrenTech supplies wireless coverage solutions to Chinese
carriers and RF components to BTS equipment OEMs. With China showing
strong growth and 3G a new catalyst, we're positive on the outlook.
-We expect China wireless CapEx of $18.3B in 2007 and $19.7B in 2008, of
which roughly 4% will be spent on coverage solutions. As the No. 2 supplier
with a 15%-20% market share, GrenTech should grow with the market and
take share with the move to 3G, which requires all new coverage systems.
-Although pressuring margins, the move into RF components should be a
plus. It allows a lower cost base, diversifies the customer base, and
expands the available market. Management targets 300%-400% growth for
this segment in 2007. Key customers include Huawei and ZTE.
-What keeps us on the sidelines are the high revenue concentration and
price pressure with China Mobile and China Unicom, the intensely
competitive market, and current valuation. The stock trades at only a slight
discount to its group P/E multiple and EV/sales multiple.
免流量费下载资料----在经管之家app可以下载论坛上的所有资源，并且不额外收取下载高峰期的论坛币。
涵盖所有经管领域的优秀内容----覆盖经济、管理、金融投资、计量统计、数据分析、国贸、财会等专业的学习宝库，各类资料应有尽有。
来自五湖四海的经管达人----已经有上千万的经管人来到这里，你可以找到任何学科方向、有共同话题的朋友。
经管之家（原人大经济论坛），跨越高校的围墙，带你走进经管知识的新世界。
扫描下方二维码下载并注册APP
您可能感兴趣的文章
人气文章
2.转载的文章仅代表原创作者观点,与本站无关。其原创性以及文中陈述文字和内容未经本站证实,本站对该文以及其中全部或者部分内容、文字的真实性、完整性、及时性，不作出任何保证或承若；
3.如本站转载稿涉及版权等问题,请作者及时联系本站,我们会及时处理。
