Category: Money Tips Date: 2007-02-01
Source: Northeast Securities Author: Zheng Li Ting
Hot spots in the mainstream real estate, banks and other sections into a consolidation on the way, the market began to refocus on the main relevant topics of speculation in stocks, and especially the share reform of listed companies has not been vigorously sought after market. By the China Petrochemical Tuesday overwhelmingly approved the impact of share reform, Sinopec's appeared in several listed companies bucked the market trend. With the Sinopec share reform because of the completion of the integration of its subsidiary companies has also been put on the agenda. Therefore, the market capitalization of stocks of that type of hype generated significant interest in Lurun shares rose 6%, other stocks have different levels rise. Short-term adjustments mainstream hotspots indicates that the speculation surrounding the stock of such subjects will enter a climax. Titan Oil (000,554) is the largest Oil Products of Sinopec's listed companies, regional monopolies have obvious advantages, it is highly likely to become the next Sinopec repurchase an object. As the current is very scarce in the two cities takes the outstanding shares of value-added varieties and 128 gas stations over 20 million subjects, speculation of capital is very strong.
Sinopec shares to complete reform of its integration imperative
Due to historical reasons, the petrochemical unit of such a large central enterprises have multiple inside and outside the listed subsidiaries, this system is not conducive to a unified central management of enterprise itself and the overall optimization of development, but will bring about intra-industry competition, related party transactions, industry chain segmentation defects, therefore, repurchase listed subsidiary, Sinopec is the inevitable choice. Earlier this year, Yangzi Petrochemical, Qilu Petrochemical, Zhongyuan oil and gas, Shenli four success of the company widened the buy-back indicate integration of the regiment. With the completion of share reform, the integration of its companies have also been put on the agenda. This will undoubtedly raise the market's expectations. Sinopec's company is the largest Oil Products listed company, the purchase and sale of main oil products, with 18 million cubic meters of oil and 128 gas stations. The company is located in an important national energy base and energy of Shandong Province, Shandong Province, annual sales volume of refined oil 5 million tons, while its sales accounted for nearly 10%. While in Tai'an City's market share is as high as 70%. Titan Oil And therefore as a source of money will become the next Sinopec repurchase an object.
Today, Sinopec has completed the share reform, if not the implementation of integration of its listed companies, would need to be at two levels from the parent company to resolve the split share structure problem, leading to the original simple things become complicated as well as increased costs. Through buy-back of listed subsidiary of delisting has become a simple and convenient choice. Therefore, the market advanced the integration of the Department of Sinopec is expected to make sense.
Strong profitability, high oil prices enhance the performance of the company
Sinopec Corporation is a subsidiary of the professional enterprises of refined oil. With the first half of the State Development and Reform Commission were greatly increased oil prices, Oil Products businesses into the market in the most direct beneficiaries. According to estimates, the company increased full-year profit of 60 million yuan. And the recent emergence of international crude oil prices drop back, but the China National Petroleum and Sinopec, and Tuesday made it clear that the message has not been associated Development and Reform Commission to correct the market on the decline in gasoline prices around the 11 to say, so high oil prices will significantly improve the company's performance. According to Qilu Securities Research, expects 2006,2007,2008 EPS will reach 0.215 yuan, 0.30 yuan, 0.42 yuan, giving Titan Oil "buy" investment rating. Can be seen, the company's investment value is relatively high.
Huge potential for capital appreciation
The company has 18 million cubic meters of oil and 128 gas stations. Pre-, six gas stations in Guangdong Province public auction price of up to 156 million, that is, the price of each station more than 2,500 million, as here, then it's 128 gas stations in the market price is expected to more than 2 billion year on year. So only the assets of its gas stations had already reached 4 yuan / share, far exceeding its current 1.75 yuan / share net asset value of its assets is very alarming rate, the company's underlying asset value can not be ignored.
Scarcity of resources + repurchase stock reform is not subject to stimulate the stock broke out
The secondary market, the stock settled in the long-term capital is very obvious signs of the current platform has also been finishing near the end, Tuesday at 20-day moving average support at the effective start ferocious upside trend of the technical indicators are showing bullish divergence pattern, in the repurchase subjects stimulated afternoon is expected to be sought after market funds, investors can focus on.
