EVA Precision: Poor Mans Tesla/ EV Play/ Onwards and Upwards from H1 2022

892 Views15 Sep 2022 00:00
  • Eva Precision Industrial Holdings (838 HK) is a beneficiary of EV penetration globally and in China, trading at 9.4x /5.6x FY22/23e and 3.2%/5.3% dividend yield (30% payout ratio).
  • H1 2022 was groundbreaking for the company as it commenced strategic cooperation with BYD (1211 HK) on products and bagged orders from Huwaei and Tesla, with more coming in H2.
  • There is additional room for buybacks as the stock price is < 2HKD and the company only completed 3-4% of its 200 mn HKD buyback.
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Sameer Taneja
Equity, Bottom-up Analyst
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