China MinZhong

China MinZhong: Share price continues to plunge despite the fact that mgt had reassured the mkt that despite the weaker than expected 9 mth to Mar’12 performance where profit only rose 10%, Co. will catch up in the final qtr to lift the full year profit up to 20% to meet consensus expectations as they recognize the delayed sales from the late winter season. At current price, grp trades at 0.5x P/B and 2.3x FY12E P/E.