Eratat

Eratat: Co has confirmed orders of up to Rmb40m following launch of Premium Summer series in Feb 2011 in addition to Rmb477m to be delivered from Jan to Jun 2011. As of 31st Dec 2010, co has 9M rev of Rmb787.6m. Based on the amts disclosed, rev is likely to be higher than revenue in 1H2010 of Rmb512.4m. Co trades at current P/E of 4.2x vs hist avg of 3.3x,. SIAS issued a Buy with TP$0.48 early March