Category: Money tips Release Date: 2006-04-01
Source: Kim Tong Securities Author: Chen Yong Chao
In recent days, the trend of Awkwardness of Fund appeared one after another, following the outbreak of the steel plate last week this week, a fund Shigekura taking over the rise of the coal blocks. In this context, we believe that with the gradual adjustment of the index in place, investors can advance the layout associated with high growth potential to the fund have not yet Lunzhang Shigekura plate, such as highways plate, the plate is defensive in nature is good, or round Quotes low, the current speculation has pulled conditions, short-term is expected to spark up at any time. Here, we recommend investors to focus on popular faucet 600,269 Jiangxi Guangdong Provincial Expressway Development: Company performance has been steady growth over the years, growth is better, and thus won the favor of strength of institutions, from the mid-term report to see, including the Easy Fonda, and a number of social security funds in circulation among the top ten shareholders, optimistic about its growth is self-evident.
Industry leading growth highlighted
Guangdong, Jiangxi Road, G operating capacity total length of about 600 km, of which Chang 9-speed, high-speed-chang-chang, Chang Fu Cheong Tai high-speed north-south high-speed and the whole territory of Jiangxi is China's north-south vertical Country Road "Jing-fu" high-speed, as well as arun qi to Shenzhen Expressway integral part of the North China, Central China and Southern China, one of the main road of communication. China's regional economic structure has obvious geographical characteristics, the western region mainly primary products and industrial processed products mainly along the southeast coast to the main consumer of manufactured goods. Primary products tend to be more suitable for long-distance transport rail and water transport; road transport is flexible, door to door, as well as to adapt to many points, wide sporadic, seasonal characteristics of manufactured goods are usually suitable for road transport. With the gradual improvement of highway network, road transport vehicles and the increasingly large-scale container-based, road transport is to achieve a certain distance of "door to door" transport of the best modes of transport. G Main Road, Guangdong, Jiangxi and production is in China's developed coastal areas of manufactured goods, "go north west to the" traffic thoroughfare, and the direction of the flow of goods in China are basically the same. With the constant improvement of China's highway network and our car modes of transport to the long-distance and large-scale changes, and containerization, G Jiangxi and Guangdong, the transit traffic will be extremely optimistic about growth prospects.
Quality assets to bring new profit growth point
G Jiangxi Guangdong Guangdong-Jiangxi Expressway section of the two new Guangdong-Jiangxi border (on the hills) to Heyuan (Po ago) of "Jing-fu" high-speed Sanming, Fujian Province opened to traffic in paragraph 2. Respectively, at the end of last year and early this year opened to traffic. Achieved between the expressway in Jiangxi and Guangdong "seamless docking" and build Minnan Delta, and central and convenient in North China the major channel, greatly reducing the distance between Jiangxi and Guangdong. In the stock restructuring at the same time, G low-cost acquisition of major shareholder of Jiangxi and Guangdong have mild high-speed and 9 speed all of the assets and interests of King predicted in 2006?? 2010 natured high speed and high-speed vehicles, nine scene toll revenues were 1.14 billion, 149 million , 1.66 billion, 184 million and 1.97 billion pre-tax profit forecast of 83.41 million, respectively, 92.25 million, 104.87 million, 120.02 million and 132.02 million yuan, which will become the company's main profit growth. At the same time, companies to adopt various measures to actively reduce costs, therefore, a higher gross margin, which will be conducive to further enhance the company's performance. As the second half of the newly acquired high-speed and gentle Chang nine high-speed will bring profitability, coupled with weight fee revenue growth, Jiangxi and Guangdong is expected to G full-year earnings per share was 0.82 yuan in 2007 earnings per share will be further up to 1 yuan (Major Holders before), a reasonable valuation of 12 yuan. Price comparison, rehabilitation of the right to look at is still about 20% undervalued, short middle to keep the return value is expected to begin violently pulled Quotes.
Ready to go in the outbreak Yang
Secondary market perspective, the stock has been since early August, all the way up shocks, during Liangnengweisuo, big obvious signs of the main financial control chips. Followed by a standard of its out of five waves up mode, is currently running on the adjustment end of the four waves. This week, in the broad market sell into the context of exploration on the 30th line of the unit back to close out the post under the shadow support, Qi Wen signs of obvious. Afternoon, the Unit at any time is expected to take the lead in the context of the outbreak of sector rotation and upward to become the leading high-speed plate led.
