In today’s briefing:
- SSE180/SSE380 Index Rebalance: Potential MSCI/FTSE Adds & Deletes
- Huadong Medicine Co Ltd (000963.CH) – A “Dark Horse” to Reverse Performance Dilemma
- Sequent Scientific – Recovery in API Business; Gross Margin Remains Below FY21
SSE180/SSE380 Index Rebalance: Potential MSCI/FTSE Adds & Deletes
- There are 18 changes to the SSE180 Index and 38 changes to the SSE380 Index that will be implemented at the close of trading on 9 June.
- There will be 9 deletions from the MSCI Standard Index and 22 deletions from the FTSE All-World/All-Cap indices at the close on 9 June.
- Currently, 16 stocks meet the threshold/are close for inclusion in the MSCI China Index while there are 38 stocks that meet the threshold for inclusion in the FTSE All-World/All-Cap indices.
Huadong Medicine Co Ltd (000963.CH) – A “Dark Horse” to Reverse Performance Dilemma
- The most recent two quarters have maintained positive growth. It is of great significance for Huadong, who once suffered a significant decline and now in a critical period of transformation.
- The large growth potential of medical cosmetology and industrial microbiology would be important driver for future development. It’s also wise to strike a balance between current performance and future strategy.
- Huadong’s revenue growth would be above 10% in next few years. It would have higher valuation than Imeik. Investors are advised to follow Huadong. It could be a “dark horse”.
Sequent Scientific – Recovery in API Business; Gross Margin Remains Below FY21
- 4QFY22 Earnings Highlights: SSL reported revenue of Rs3,837mn, up 6% YoY and 7.2% QoQ.
- Formulations business reported sales at Rs2,563mn, up 2.3% YoY and 0.3% QoQ.
- Europe formulations business reported sales at Rs1,034mn, down 7.1% YoY and 1.8% QoQ.
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