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Data:2009-12-12 2:34
Source: Guangdong Cod Author: Wu is pleased to
Restructuring of its core business growth: major shareholders of "Beijing's internal security monitoring and warning systems and network monitoring Olympic venues" project free of charge transferred to the company, which serves as a low-priced stocks on the conditions for reform!
Project Features: The company received a "network of Beijing's security monitoring and warning system and monitoring of the Olympic venues," mainly to achieve more than 500 in Beijing and Olympic Museum Security network networking market monitoring, the current contract value have been identified as 7-8 million!
Project Benefits: The company expects to complete the project in the second half of 2006 the amount of 50 million or so in 2007 the completion of 3-4 billion 3-4 billion in 2008 to complete the project more than 30% gross profit, net profit rates of up to 15%, which will the performance of the next two years the company have an enormous impact!
Valuation Analysis: Forecasting performance of the company's 06 just 0.08 yuan, in 2007 to achieve results for 0.37 yuan in 2008 to reach 0.40 yuan performance, 09-year performance depends on the proportion of maintenance cost sharing. Our results for 30-fold by 2007 (software category industry average price-earnings ratio level) PE valuation of 11 yuan! While the first three quarters of this year, a huge stock gains, but there is still room for upward valuation!
Historical Information: Dr. Peng (600,804): to recommend appropriate attention to July 8, 2006
Source: Ternary Consultant
Transaction reason: 2005 Annual Report Disclosure: The company plans in 2006, sales income 6 billion goal, and create a good profit.
Investment Highlights:
Recently become a major shareholder of the company's first multimedia technology Co., Ltd. of Shenzhen City, a registered capital of 5,200 yuan, the main computer multimedia technology development, the development of multiple products won the National Award for excellent software.
Two companies have entered into with good prospects for development of the education information industry, in the business scope of the company changed the concept of quite high-tech "computer multimedia technology development, network technology development, etc.", the company's main business is expected to be changed a single situation.
3 companies Liu Tongpan moderate, there is potential for capital expansion, and capital structure, special, Liu Tongpan 62% of the total share capital, there are tender offer conditions, shell resource value significantly.
4 network concept: The company will in cooperation with the Sichuan Telecom to provide broadband Internet entertainment business services. The two sides established the first pilot project started in Chengdu, the province after the experience gained promotion, business scope mainly includes: broadband Hotel (Hotel), broadband residential, chain cafes, remote broadband education. December 9, 2004, the Company and Sichuan Telecom Co., Ltd. jointly held in Chengdu, Minshan, "Sichuan Provincial Tourism Information Technology Application Symposium", announced that China Telecom 'Broadband Perfect Service Alliance' business officially started. The project will first start in the hotel hospitality industry.
5 strategic cooperation with the North-controlled Telecom: The company official with the Beijing Telecommunications pass Beikong information technology companies establish long-term strategic cooperative partnership. Beijing Telecom Technology Co., as the Beijing region's telecommunications infrastructure operators, are responsible for "Digital Beijing", "Digital Olympics" of information technology infrastructure and application of systems engineering construction tasks, including Beijing Olympic venues within the security unit and network monitoring program systems integration services and software and hardware equipment business and companies.
Risk Tip:
A hotel broadband projects and network monitoring projects require the formation of a certain size to generate economies of scale, are capital-intensive business, it is an early investment in equipment, a huge demand for funds; which makes the question of funding constraints a major obstacle to the sustainable development of the company.
2 software and computer networks in an increasingly competitive industry, the company also will face tough competition in the market views the risk of product updates and technical alternatives to risks.
3 steel smelting company's traditional business in the product structure, but also no fundamental change to carbon-based product mix in the product market structure, the main users of the traditional large-scale production and operation of the company also has a considerable constraints.
Investment advice: asset replacement, the company's main turning educational software and network engineering, and construction of the campus network in the country, has a unique advantage; the same time, with the Sichuan Telecom Company Limited to cooperate in Sichuan Province, "PNC broadband network services "pilot issues of intent signed an exclusive agreement to jointly by the parties to provide users with broadband Internet entertainment business services; in the first half, the company has a joint telecom operators to carry out co-star hotel for the" hotel broadband network services, "the business has been in the nine key provinces and cities in full swing, is expected to become the company's new profit growth point; the current investment value of stock midline general, but the short-term we are bullish, the first target price of around 8 yuan.
