Dentons Biochemistry: Nomura Reiterates Sell Rating

Nomura Securities said that Dentons Biochemicals (809.HK) last year, although better than expected, but continued to believe that lysine prices are sluggish, and the company's gross profit pressure, reiterated the stock "sell" ratingNomura, Dentons Bionics' net profit last year was 24% higher than its forecast, mainly due to an increase in sales in the second half of the year, and the price of lysine peaked in November last year, however, Says Nomura, overcapacity will limit the room for lysine prices to riseOn the other hand, the price of corn, which accounted for 55% of last year's total operating cost, remained stable, continuing to weigh on Dentons' biochemical gross marginDentons Bionics is expected to make a net profit of HK$590 million this year, according to a forecast by nine securities firms in Thomson First CallNomura Securities said that Dentons Biochemicals (809.HK) last year,"" despite better-than-expected results, continued to believe that lysine prices were sluggish and that the company's gross margin was under pressure, reiterating the stock's "sell" ratingNomura, Dentons Bionics' net profit last year was 24% higher than its forecast, mainly due to an increase in sales in the second half of the year, and the price of lysine peaked in November last year, however, Says Nomura, overcapacity will limit the room for lysine prices to riseOn the other hand, the price of corn, which accounted for 55% of last year's total operating cost, remained stable, continuing to weigh on Dentons' biochemical gross marginDentons Bionics is expected to make a net profit of HK$590 million this year, according to a forecast by nine securities firms in Thomson First Call(name)