Category: Money tips Release Date: 2006-10-09
Midea Electric Appliances (000,527 market, information, reviews, search) in January 2007, announced the development of a strong clear intentions and goals: the original air-conditioning industry leader based on the status of plans in 2009 will be frozen, refrigerated products (on behalf of product fridge), washing products (on behalf of product washing machines) to do the first two strong among the industry. Thus Group and the company to do a series of white related to a wide range of investments, acquisitions readjustment toward clarified, in 2010 the company will likely grow as income of about 500 billion yuan, refrigeration, freezing, washing three white equal emphasis on the global product line the white giant.
Manufacturing capacity and innovation capability to enhance the global home appliances industry, the transfer of manufacturing to China is continuing, at present, although exports are still mainly in the form of OEM, but the foreign multinationals in the Asia Pacific and other regions of the contraction, the white domestic brands of leading enterprises in the gradually spread abroad, showed signs of strengthening their international competitiveness. In size has reached the world's leading cases, the company's domestic air-conditioning and compressor business, business ideas from the scale-driven approach to profit-driven. In 2006 the company sold nearly 3.0 billion commercial air conditioning, size not large but it has a small contribution to the company's profits. Held by the Group company has acquired Hefei Rongshida laundry facilities, refrigerator companies and marketing companies, 50% of the shares, followed in due time will be Hualing and Chongqing Midea General Refrigeration Equipment Corporation into the company.
Guoxin Securities analyst Wang Nian-chun is expected ,06-2008 earnings per share were 0.81,1.03,1.17 yuan, net profit rose 34%, respectively, 29% and 16%, but considering the private placement 7559.5 million, then 06-08 years Earnings per share were 0.81,0.92,1.04 yuan. As compared with the same industry, Haier and Gree's 2007 price-earnings ratio have been more than 20 times, consider the corresponding growth and asset integration factors, to give about 25 times earnings ,07-08 Nian 25-27 yuan at a reasonable valuation to maintain "prudent recommended" rating.
