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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Hengtong Optic-Electric Co., Ltd.    600487   CNE000001FQ9

HENGTONG OPTIC-ELECTRIC CO., LTD.

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EU launches investigation into Chinese optical fibre cable imports

09/24/2020 | 09:27am EST
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels

The European Commission launched an investigation on Thursday into imports of optical fibre cable from China, which EU manufacturers believe are being sold in Europe at artificially low prices.

The case comes as the 27-member European Union wants the digital economy to be a key part of its economic recovery and demands a greater opening of Chinese markets.

Europacable, which brought the complaint on behalf of the EU producers, said some 1.2 million kilometres (745,000 miles) were sold in Europe last year, with 15-20% coming from China, in a total EU market worth about 1 billion euros ($1.16 billion).

Chinese imports rose by 150% from 2016 to 2019, the industry group said.

EU anti-dumping investigations take up to 15 months, but provisional duties can be put in place within eight. Final tariffs, if imposed, would normally apply for five years.

The largest producers in the EU are Italy's Prysmian Group, U.S. company Corning and France-based Nexans and Acome.

Major Chinese optical fibre cable makers include Yangtze Optical FC, Hengtong Group, Fiberhome and Futong.

The Commission has already carried out a series of investigations into glass fibre products from China and imposed tariffs. It also has 29 ongoing trade defence investigations, 18 of them including products from China.

(Reporting by Philip Blenkinsop; Editing by Mark Potter and David Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FIBERHOME TELECOMMUNICATION TECHNOLOGIES CO., LTD. -2.63% 24.44 End-of-day quote.1.50%
HENGTONG OPTIC-ELECTRIC CO., LTD. -1.74% 14.08 End-of-day quote.0.64%
NEXANS -2.88% 64.1 Real-time Quote.11.39%
PRYSMIAN S.P.A. -4.40% 27.8 Delayed Quote.0.00%
YANGTZE OPTICAL FIBRE AND CABLELIMITED COMPANY -4.46% 10.7 End-of-day quote.3.28%
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Financials
Sales 2020 34 142 M 5 269 M 5 269 M
Net income 2020 1 328 M 205 M 205 M
Net Debt 2020 5 609 M 866 M 866 M
P/E ratio 2020 21,4x
Yield 2020 0,43%
Capitalization 27 229 M 4 202 M 4 202 M
EV / Sales 2020 0,96x
EV / Sales 2021 0,87x
Nbr of Employees 17 963
Free-Float 71,5%
Chart HENGTONG OPTIC-ELECTRIC CO., LTD.
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Hengtong Optic-Electric Co., Ltd. Technical Analysis Chart | 600487 | CNE000001FQ9 | MarketScreener
Technical analysis trends HENGTONG OPTIC-ELECTRIC CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 17,42 CNY
Last Close Price 14,08 CNY
Spread / Highest target 44,3%
Spread / Average Target 23,7%
Spread / Lowest Target -17,3%
EPS Revisions
Managers and Directors
NameTitle
Ji Cheng Yin General Manager & Director
Jian Lin Qian Chairman
Wei Xing Xu Chairman-Supervisory Board
Ming Jiang Chief Financial Officer & Secretary
Gen Liang Cui Director