HongKong:1397

Driven by Waste Charging Baguio wins new contracts for smart food waste recycling machines for large residential estates

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星期四, 一月 25, 2024

HONG KONG, Jan 25, 2024 - (ACN Newswire) - Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 01397.HK) is pleased to announce that following last year's success in securing a smart recycling machine contract from the Environmental Protection Department ("EPD") of the HKSAR Government ("the Government"), the Group has won new contracts for two large private residential estates for the provision of smart Food Waste Recycling Machines ("Food Waste Recycling Machines") and maintenance services.

Key Points: 
  • HONG KONG, Jan 25, 2024 - (ACN Newswire) - Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 01397.HK) is pleased to announce that following last year's success in securing a smart recycling machine contract from the Environmental Protection Department ("EPD") of the HKSAR Government ("the Government"), the Group has won new contracts for two large private residential estates for the provision of smart Food Waste Recycling Machines ("Food Waste Recycling Machines") and maintenance services.
  • Currently, Hong Kong only recycles about 200 tonnes of food waste per day, lower than the total amount of food waste produced.
  • The Government intends to extend the installation of the Food Waste Recycling Machines in all public housing estates in Hong Kong this year.
  • With waste charging set to take effect, the Government is proactively offering financial aid for private estates to install Food Waste Recycling Machines through the Recycling Fund and the Environment and Conservation Fund.

Founder Securities rates Baguio (1397.HK) as 'Strongly Recommended' with a HK$1.10 target price, indicating a 57% upside

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星期二, 一月 2, 2024

This target suggests a potential 57% increase from the closing price on the date of the report.

Key Points: 
  • This target suggests a potential 57% increase from the closing price on the date of the report.
  • Founder Securities is optimistic about the Company's prospects as it will directly benefit from the implementation of the policy.
  • According to Founder Securities, the Company has a competitive edge and has been rapidly gaining government contracts in the past three years.
  • Based on 8 times target P/E ratio and 2024 earnings, Founder Securities rates Baguio as 'Strongly Recommended', with a target price of HK$1.10.

Baguio wins new contracts worth HK$752 million Driving Contracts on hand to a historical high of HK$4.7 billion

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星期三, 十月 11, 2023

HONG KONG, Oct 11, 2023 - (ACN Newswire) - Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 01397.HK) is pleased to announce that since the interim result reported as of 30 June 2023, the Group has successfully secured new contracts with a total value of approximately HK$752 million from various Hong Kong government departments, quasi-government organizations and private organizations.

Key Points: 
  • HONG KONG, Oct 11, 2023 - (ACN Newswire) - Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 01397.HK) is pleased to announce that since the interim result reported as of 30 June 2023, the Group has successfully secured new contracts with a total value of approximately HK$752 million from various Hong Kong government departments, quasi-government organizations and private organizations.
  • The new contracts drive Baguio's total value of contracts on hand to a historical high of approximately HK$4.7 billion as of 5 October 2023.
  • These new contracts include but not limited to:
    1) Leisure and Cultural Services Department's contract for the provision of cleansing and supporting services to leisure venues in Sham Shui Po and Yau Tsim Mong districts;
    2) Food and Environment Hygiene Department's contract for the provision of management, cleansing and pest control services for markets in Wong Tai Sin district;
    3) Environmental Protection Department's contract for the provision of recyclables collection services for recycling bins in public spaces and schools.
  • As a result, the Group records a historical high for its total value of contracts on hand, demonstrating the Group's strong momentum in its business growth.