It was down to [Korea goyounghun financial newspaper reporter - 15 days instead of securities companies, saying due to asset quality deterioration signs for bank profits to be slightly damaged confidence BUY 'with a target price ₩ 16,000 on.
In addition, the background of the goal down because we said it assumed the credit cost ratio was raised earnings estimates downward since 2017.
Daishin Securities Jeffrey Choi researchers' fourth quarter net profit YoY was almost consistent with the estimates as 213.1 billion won 5.2 percent decline "and" foreign exchange translation losses due to the exchange rate, while generating 41 billion won was posted earnings that slightly below the current level. " I was diagnosed.
Choi researchers "Companies 4Q11 results feature of the Bank asset quality worsening symptoms appeared is that the surface delinquency ratio and NPL ratio in large sheets, depreciation fell," he said, "but every single · depreciated before the real NPL net increase in scale 8400 reached one hundred million won, while higher than the current level of the past few years were 5000 ~ 6000 one hundred million won per quarter is analyzed that asset quality deteriorated, "he said.
In addition, credit costs were also significantly increased due to deteriorating health. Banks will face the fourth quarter loan loss provisions, given the reversal of the loans sold 192.5 billion won to 221.7 billion won substantial loan loss level was estimated to have exceeded 4,000 billion.
He's a "for health is a temporary phenomenon exacerbated journal 1-2 quarters requires more observation, but one fact that the income trust damaged by losses increase is undeniable," said "4Q11 NIM (net interest margin) is 1.90 ~ 1.91% It has determined that it is maintaining a stable level continues. "
Choi researchers "need certainty asset quality does not deteriorate further for a valuation re-evaluation" and "health concerns are resolved and should be available gotta check this dividend payout ratio of upward rally that means should be highlighted is attractive as gobaedangju" said "KT & G the sale is expected to be a factor in increasing the dividend merit "and predicted.
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Wednesday, February 15, 2017
Daishin Securities' corporate banking, asset quality worsening signs interests undermine confidence. "
Tongyang securities, Early End ELS securitized derivatives, such as three kinds of conspiracy
[Korea financial newspaper nine hyerin News] tongyang securities secondary prepayment is not even 1 years 35% of the excess down to do one year of that time in the annual 6.00% rate of return to repay that Early End ELS, such as securitized derivatives 3 coming to 17 species and conspiracy on a scale of 160 billion won.
No. DLS 323 is a three-year, non-guaranteed early repayment cycle of principal product of six months on the London gold price index, HSI index, Eurostoxx50 maturity index as an underlying asset. 95% (6 months), 90% (12 months) of the first base price, 85% (18, 24 months), is greater than or equal to 80% (30 months), 75% (36 months) early in yields of annual 4.10%, or It is maturity. Moreover, even if not early repay the investment period for any one of all the underlying asset it has never been this underlying assets fell to less than 40% of the initial reference price will return to maturity of 12.30% (4.10% a year).
ELS 3691 is heading a three-year, HSI index, Eurostoxx50 index in the non-principal-guaranteed products of the early redemption period expires six months as underlying assets. 90% of the initial reference price (6, 12 months), 85% (18, 24 months), is greater than or equal to 80% (30, 36 months) is an early maturity or annual rate of return to 5.60%. Moreover, even if not early repay the investment period either, even if all the underlying asset for the underlying asset has never fallen below 45% of the initial reference price will return to maturity of 16.80% (5.60% a year).
ELS 3692 is heading a three-year, non-guaranteed products at an early principal repayment period of the HSI index structure Early End of 6 months, Eurostoxx50 maturity index as an underlying asset. 90% of the initial reference price (6, 12 months), 85% (18, 24 months), the repayment of 80% (30 months), 65% of the annual yield to maturity or earlier if there is more than 4.00% (36 months). If only secondary even though it is not early repayment has never fallen below 65% of all underlying assets any one of prepayments during the year is a return of 6.00% a year at the time the first year.
The minimum subscription amount may be subscribed in tongyang securities of 10 million won (₩ 100,000 units) nationwide branches and online tongyang securities homepage.
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Hite Jinro drinks, jounho the new representative of former Vice Woongjin Foods
[Korea gimeunji financial newspaper reporter] had a drink Hite Jinro, senior vice president of the former Woongjin Foods jounho accredited representative said the 15th. Meanwhile, the Executive Vice President sonbongsu production has been the CEO of Concurrent Hite Jinro drinks.
Born in 1962, Joe accredited representatives after graduating from Yonsei University Graduate School of Business in 1981. He joined First Bank (now SC First Bank).
Since the spot while moving to Woongjin Group in 1990 jumped into the beverage market went through a Woongjin Foods CEO in 2005, Woongjin Foods vice president in 1999. Serajem 2006 and served as Group Vice Chairman, President and CEO of the company, health drinks, etc. Sounds of 2009.
Joe accredited representatives' fall dates, and figures were pushed to put the success of the main products' Morning light 'and Woongjin Foods, its products have been launched since the filial products of Woongjin Foods are key executives, but the opposite.
Hite Jinro drinks are produced and sold bottled water and drink products such as Mason, Fury's, Dia networks.
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Hanon system, ... Asia sales growth slowed congestion - Eastern
[Korea hyerin nine financial newspaper reporter] Dongbu Securities for the system on the 15th hanon Top-line growth with sales growth slowing in Asia were evaluated as likely to stagnate. This recommendation is hold, target price was given 1 million.
Hanon system sales 1.5017 trillion won (+ 2.8% YoY, + 17.0% QoQ), operating profit of 116 billion won (-3.8% YoY, + 8.8% QoQ) the operating profit was 9% lower than market expectations in the fourth quarter of last year .
Dongbu Securities Research Institute said gimpyeongmo '+ 6%, respectively, compared to last year sales growth of +4.3 in the United States and South Korea, but legal, corporate sales growth in China slowed sales are made against four other domestic auto parts rather sluggish growth,' 'Sales profit slump by increasing the production of domestic and foreign legal expenses, the performance of the Chinese yuan weakened by worsening corporate and R & D expenses (+ 6% YoY) growth, such as "he explained.
Kim researchers topic of this year is expected to be the growth of China's non-profit corporation. He said, 'Despite the high volume growth in China, our customers not only a growth slowdown in the Chinese subsidiary will be concerned also consider the yuan weak, said, "The company's Top with sales growth slowing in Asia, including South Korea and China this year -line growth is expected to be stagnant said.
In addition, Kim Institute, the coordination segment of its rival Valeo is expected to stand continued to grow up to second in the year revenue 2016 'said,' If the existing number of states or growth that overwhelms competitors through additional M & A company's global air-conditioning division M / S added that the situation with no choice but to continue to decline.
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Hanwha Securities "NHN enterprise, core business growth ... New business takes time. "
[Korea goyounghun financial newspaper reporter] Hanwha Securities NHN Entertainment on the 15th day job looks to new business growth was maintained with a target price of ₩ 60,000 a recommendation 'neutral', saying take some time.
Hanwha Securities Research gimsohye was diagnosed as "core business value of undervalued due to the slowdown in business co-pay would have to be somewhat resolved after spotting new business division take some time to generate revenue in earnest."
Kim Institute "in 2016 game sales has maintained a year-on-year 14% increase and growth," he said "This year, the web board games are among the continuing stable sales as cash cows," tunpap 'utilizing Naver Real Madrid IP and "Angry Bird Island 'is scheduled, including nearly two dozen new species, "he said.
Towards "The estimates in advertising expenses in 2017 to 10.6 billion won increased by 79.9 billion won compared to the previous year" and "the second quarter starting on page Koh related marketing provides benefits to merchants and existing users rather than mass advertising such as TV commercials to increase the re-gumaeyul direction He explained that the grabbing will be more efficient enforcement. "
Following predicts that "in accordance with the elements to discount the valuation of the business co-pay Removed shares show a positive flow."
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