HONG KONG, Jan 5, 2021 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group"; stock code: 1971), a fast-growing comprehensive community services provider focused on the Yangtze River Delta, has earned CCB International's optimistic view accolade owing to a recent M&A that will strengthen its Central China and Non-Residential Exposure. The Group has also been given a "Buy" rating by CCB International with a target price at HK$8.8. On 31 December 2020, Redsun Services announced it would be acquiring an 80% stake in Wuhan Huidehang Elite Property Service Co. (Wuhan Huidehang) for RMB216 million, implying 13x 2021 forward P/E. In 2018, 2019 and the first 10 months of 2020, Wuhan Huidehang recorded RMB54 million, RMB55 million and RMB61 million in revenue and RMB11 million, RMB12 million and RMB15 million in net profit respectively. Forecast in 2021, 2022 and 2023, revenue will be RMB86 million, RMB99 million and RMB114 million, while guaranteed net profit will be RMB21 million, RMB24 million and RMB27 million respectively. For the first 10 months of 2020, gross profit margin and net margin stood at a decent level of c.38% and 24% respectively. Wuhan Hui...