Suzhou Keda (603660) company update report: half of the pressure reduction plan completed, pressure release to take off soon

Suzhou Keda (603660) company update report: half of the pressure reduction plan completed, pressure release to take off soon
This report reads: The video conference industry has a broad market prospect, and the company ‘s performance continues to improve marginally. According to the reduction plan, the company ‘s shareholders, Lanyi Venture Capital and Lanjing Venture Capital, have completed more than half of their reductions. The pressure on the capital side has been released. Key points of investment: Event 1: From August 1, 2018 to January 2, 2019, (1) the company’s shareholder Lanjing Venture Capital gradually reduced its holding of the company’s shares by 0 through centralized bidding transactions.12%.(2) Lanyi Venture Capital, the company’s shareholder, reduced its holdings of the company’s stock by 0 through incremental bidding transactions.09深圳桑拿网%. Event 2: The company’s shareholders, Lan Yi Ventures and Lan Yi Ventures, plan to reduce their holdings of the company’s shares 1 from February 14 to August 12, 2019.76% and 2.69%, and in the period from February 14 to March 6, 2019, through centralized bidding transactions and block transactions, the company’s shares were reduced.08% and 1.71%, more than half of the reduction plan. Maintain overweight rating.The Ministry of Industry and Information Technology jointly released the “Ultra HD Video Industry Development Action Plan (2019-2022)” on March 1, and the overall size of the ultra HD video industry exceeded 4 trillion yuan.Competitors in other markets of the company category have the advantages of high customer channel barriers, good product stability, strong reliability, large platform capacity and relatively relative prices, maintaining the company’s EPS0 for 2018-2020.89/1.07/1.28 yuan.According to the dual favorable information of the industry and the company, the company is given an estimated premium of 30 times PE in 2019, and the target price is raised to 32.00 yuan (+20.75%). More than half of the reduction plan was completed, and capital pressure was fully released.The shareholders of the company, Blue One Ventures and Blue Capital Ventures, plan to reduce their holdings of shares in 2019 for 6 months. Currently, more than half of the reduction plans have been completed through centralized bidding transactions and block transactions within one month.There is very limited space for monthly reductions. It is expected that the company will gradually surpass the impact of reductions. The impact of disturbances will obviously overlap. The pressure on the capital side is fully released, and the company may take off soon. Catalyst: The video conferencing business has developed smoothly in other industries, and the government has stepped up investment in security. risk warning.The development of video conferencing channels fell short of expectations, and Huawei gained market share.