Wing Tai

Wing Tai announced that its Chairman, Mr Cheng Wai Keung, had bought 1.6m shares in the open market on 31 May and 1 June, at an average of $1.528/share, increasing his deemed interest in the company by 0.2% to about 40%. We believe that this underlines the management's confidence in the company and that the company is undervalued. Our house's target price remains at $2.50, representating over 60% upside potential.