(See also: CITIC Envirotech secures $610 mil river restoration project in China)
“Given an expected RMB900 billion worth of new projects upcoming for the industry in China for 2017 and a 9% annual growth going forward for the industry, we believe this strong order win momentum will be sustained and CEL will continue to announce further wins in 2017,” comment analysts Edison Chen and Nicholas Leow in a Friday report.
“We look forward to order wins in the area of hazardous waste/sludge treatment and management and circular economy,” they add.
Further, the analysts believe CITIC Envirotech’s recent share price dip offers investors a chance to collect below CITIC’s and near China Reform Fund’s (CRF) buy prices of 82.5 cents and 72.5 cents respectively.
As at 12.34pm, shares of CITIC Envirotech are trading 1 cent higher at 76 cents.
