Anwell: Could see some positive sentiments, after Co. announced that it has won contract worth about US$20m to supply in-house produced amorphous silicon thin film solar panel for a solar farm project in India. The thin film panel has been scheduled for delivery in 2H11. This follows Indian govt's launch of National Solar Mission, to meet a large scale grid-connected solar power capacity target by 2022.
Recall that Co. posted 1Q11 results in Mar, with Rev at HK245.9m (US$31.5m), if successfully delivered by 2H11, contract appears to be positive for grp’s EPS for FY11. Counter currently only covered by NRA Capital, who has a Buy Call and $0.38 TP.
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