Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-01-09
China Merchants Bank (600036 market, information, reviews, Search) 19, published in 2006 Yejiyuzeng notice. 2005 net profit of 39.30383 billion (earnings per share of 0.38 yuan), therefore, according to latest information disclosed, the company in 2006 full year net profit of 5.896 billion yuan should be more than our original expectations (55 million) 7 percentage points, equivalent to earnings per share were 0.40 yuan or more.
Expects in 2006 remains the sound development of the business, deposit and loan business and transactions with the industry growth rate of stable, intermediate businesses, exchange business may be growing very fast. The company's costs and expenses well controlled. Since 2006 a more stable macroeconomic environment can be expected that the company's asset quality continues to maintain a good credit, the level of provision for asset in annual expenses at a reasonable range.
Huatai Securities analyst Liu Xiaochang that the good performance of China Merchants Bank, management standards, positioning clear balance of the indicators, lending a reasonable structure, housing loans with less risk. More retail and intermediary business characteristics, potential for future development. H shares issued in 2006 to complement the company's core capital, net asset per share substantially thickened to support the company's future years to continue rapid expansion and profit growth. Maintain the "Recommended" rating.
