Hyundai Mobis, Chinese influence lackluster first half performance ... Investment objective ↓ -HMC

[Korea goyounghun financial newspaper reporter] HMC Investment Securities in 12 days for Hyundai Mobis doendamyeo sluggish first half earnings to Chinese influence BUY target price was lowered to 300,000 won.

Lee Myeonghun HMC Investment Securities researcher "1Q11 to an abrupt slump in modern Kia's China sales are the consensus below is expected," said "are share China's share of Hyundai Mobis module business revenues maintained the inside and outside levels all the way to 35 percent since 2009, the last two years declined slightly, "it was flat.

The researchers said, "If you want to prolong the Chinese poor ones the Chinese partner of Hyundai Kia Motors Corp. Maxime also damage their suppliers, and local to fold the April-May because it will affect the recovery aspects peaked employment." "But two struggles to quarter, was diagnosed with non-visible damage situation. "

He also expected the share price that "China issue is eventually expected to be solved A / Stable profit of S project and will be the continued expansion within the group key role in the future automotive trends," said "for the time being linked to modern Kia's China sales but both earnings and share price forecasts would be formed in the second quarter of bottoming out. "



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