The 2017 annual results of the Company was 11.7% higher than marketconsensus and our expectation, mainly due to positive product mixchange. Total revenue of the Company increased 16.6% yoy to RMB19,458.8 million, net profit attributable to shareholders increased 23.1% yoyto RMB 3,533.4 million.
The Company expects the output of aluminum alloy formwork tocontinue to grow in 2018 and the aluminum flat-rolled production line isexpected to contribute about 200,000 tons in output of aluminum plates.
The Company continues to install more advanced and high-pressureextrusion machines, which will further expand its production capacity.
We expect processing fee of each type of aluminum product to bestable in 2018. The Company holds great competitive advantages in theproduction of aluminum extrusion and flat-rolled products and confrontslimited competition.
Revise up TP to HK$ 6.00 and maintain “Buy”。