We expect FIH to record a 25.3% EPS CAGR during 2008-10, on a gradual recovery in demand and a margin rebound.We initiate coverage on FIH with a HOLD rating.

• 我们预计随着需求逐步复苏以及利润率的反弹2008-10年每股收益复合增长率将达到25.；3%25，首次给予持有评级。