HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

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Equity Bottom-Up

<ul>
<li>Dong-E-E-Jiao's performance is exciting. The first-ever equity incentive plan fully demonstrates the new management team's confidence in the future development of the Company. There's potential for another leap in valuation.</li>
<li>Our 2024 forecast is net profit to reach RMB1.4 billion, up 20% YoY. Reasonable valuation is 25-30x P/E.If market value falls below RMB35 billion, this is a great buying opportunity.</li>
<li>Dong-E-E-Jiao is worth long-term holding due to attractive dividend policy. China Resources may further improve dividend payout, which is in line with the major trend for SOE to increase dividends.</li>
</ul>


Dong-E-E-Jiao's performance is exciting. The first-ever equity incentive plan fully demonstrates the new management team's confidence in the future development of the Company. There's potential for another leap in valuation.
Our 2024 forecast is net profit to reach RMB1.4 billion, up 20% YoY. Reasonable valuation is 25-30x P/E.If market value falls below RMB35 billion, this is a great buying opportunity.
Dong-E-E-Jiao is worth long-term holding due to attractive dividend policy. China Resources may further improve dividend payout, which is in line with the major trend for SOE to increase dividends.


Dong E E Jiao (000423.CH) - Big Dividends and Potential Leap in Valuation Are Highly Anticipated

Dong E E Jiaoco Ltd A

Dong E E Jiao (000423.CH) - Big Dividends and Potential Leap in Valuation Are Highly Anticipated