Chow Sang Sang Report
Chow Sang Sang Holdings International Limited (Stock code: 116)
Subject:
Corporate Finance and Policies
Date:
11 May 2013
TABLE OF CONTENTS
I.
COMPANY PROFILE .............................................................................................2
II. CORPORATE FINANCIAL PLANNING .............................................................3
FORECAST ANALYSIS FOR FY 2013............................................................................. 3
TURNOVER AND MARGIN .......................................................................................3 COSTS .....................................................................................................................5
NET NEW FINANCING AND FREE CASH FLOW FOR FY2013................................ 7
III. RISK PROFILE ........................................................................................................9
RISK MEASURES................................................................................................................ 9 SYSTEMATIC RISKS MEASUREMENT – Beta ...................................................... 11
IV. REGRESSION ANALYSIS ...................................................................................13 V. TABLES ...................................................................................................................17
TABLE 1 – CONSOLIDATED INCOME STATEMENT (5 YEARS).......................... 17 TABLE 2 – PRO FORMA FINANCIAL STATEMENT FOR FY 2013 ....................... 19 TABLE 2 – FREE CASH FLOW ...................................................................................... 21 TABLE 2 – ASSUMPTION NOTES ................................................................................. 22 TABLE 3 – CONSOLIDATED STATEMENT OF CASH FLOWS.............................. 23 TABLE 4 – BALANCE SHEET (5 YEARS) .................................................................... 24
VI. REFERENCE
Subject:
Corporate Finance and Policies
Date:
11 May 2013
TABLE OF CONTENTS
I.
COMPANY PROFILE .............................................................................................2
II. CORPORATE FINANCIAL PLANNING .............................................................3
FORECAST ANALYSIS FOR FY 2013............................................................................. 3
TURNOVER AND MARGIN .......................................................................................3 COSTS .....................................................................................................................5
NET NEW FINANCING AND FREE CASH FLOW FOR FY2013................................ 7
III. RISK PROFILE ........................................................................................................9
RISK MEASURES................................................................................................................ 9 SYSTEMATIC RISKS MEASUREMENT – Beta ...................................................... 11
IV. REGRESSION ANALYSIS ...................................................................................13 V. TABLES ...................................................................................................................17
TABLE 1 – CONSOLIDATED INCOME STATEMENT (5 YEARS).......................... 17 TABLE 2 – PRO FORMA FINANCIAL STATEMENT FOR FY 2013 ....................... 19 TABLE 2 – FREE CASH FLOW ...................................................................................... 21 TABLE 2 – ASSUMPTION NOTES ................................................................................. 22 TABLE 3 – CONSOLIDATED STATEMENT OF CASH FLOWS.............................. 23 TABLE 4 – BALANCE SHEET (5 YEARS) .................................................................... 24
VI. REFERENCE