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Data:2009-12-12 2:34
Source: Industrial Securities Author: Chen Yi Ang
With the strategic investment of resources shares have increasingly shown the value of the market "resource section" in the units there have been varying degrees of response, such as forest resources Jilinsengong, power resources Guidongdianli, have a strong impact on coastal energy Monday daily limit, showing the separate ways of investment funds have been the main section on resources and rapid depth of involvement, resources and plates is expected to become another highlight of the market outlook. Among them, the forest resources is particularly noteworthy.
China is the world's forest resources in a relatively poor, a serious shortage of the total one of the countries. According to statistics, China's per capita forest area, the per capita forest stock volume, forest cover, breakdown of the world 134, 122 and 130, but the consumption is very large, in 2004 after the United States is to become the world's second Dalin product consumer. The past two years, accompanied by the building industry, pulp and paper and furniture industry, the rapid growth of other industries, but also greatly stimulated the demand for wood. Such a situation to have a wealth of woodland and forest resources Jinggu forestry (600,265) is an extremely vast development space.
Jinggu Forestry (600,265) is located in Yunnan, Simao region, a set of "forest resource base, forest chemical products and forest board processing" of the trinity of Forestry forestry company, is the largest manufacturer of rosin, the largest wood-based panel production in Yunnan Province base and suppliers, Yunnan Province, the industrialization of agriculture and forestry industry leading enterprises, is now an annual output of 30,000 tons rosin, turpentine 6,000 tons, forestry board for more than 200,000 cubic meters. At the same time, with the company's outstanding resources, one of the main features, the company Jinggu county in which the country's forest cover is 5.3 times the reserves of the national forest resources, one of the most abundant, the growth of the Pinus kesiya forest fast, production of high fat, fiber length, is an important species of tree tapping and high-quality raw materials for forest products board. Currently, the company already has 51 acres pine land (artificial regeneration of forest value-added highlights), and will continue to the purchase of new woodlands, to expand and accelerate the construction of industrial raw material forest base;; for energy saving, development of new products, forest board variety of raw materials, the company actively improve forest board production line production process, expand the variety of raw materials acquisition, and through the introduction of planting Napier made significant achievements and become a veritable industrial raw material forest base, the development of broad prospects.
The secondary market, the stock bottomed after accumulation of ex upside strength, after full correction, the greater the upside momentum, the more the plot, and an outbreak has begun. Recently, the Unit continued to push up a small yang, energy efficient amplification, with the price of the amount of ideals, has become a breakthrough upward trend. With the main body of the resource stocks are going separate ways again attention, as have outstanding resources of the Jinggu forestry (600,265) has been the performance of restless, funding incremental clear focus on market outlook may be given.
Historical Information: Jinggu Forestry (600,265): to recommend appropriate attention to June 9, 2006
Source: Ternary Consultant
Morning once daily limit
Transaction reason: The company has 51 million mu of forest land will be based on the positive to the government purchase of new woodlands, to expand and accelerate the construction of industrial raw material forest base; forest board production line active to improve production processes, expanding variety of raw materials acquisition and active use of processing residue; to energy saving, development of new products, raw material forest plate varieties, the company through the introduction of planting Napier and achieved significant results. Yunnan Province, an area of 4.73 million hectares of existing pine trees, accumulation 312.7 million cubic meters, resin storage of 1.01 million tons, ranking first in the country.
Investment Highlights 1. Company's product structure adjustment change the current status of the production of products more than ten years to upgrade products, times, speed up the upgrading of product structure; industry through the extension of development in the main chain make efforts to make a fuss, to develop high-end industry. Through investigation and cooperation talks, initially set to implement Rosin, Turpentine deep processing projects, as well as laminate flooring project, high-grade particleboard project, forest pulp-paper integration project.
2. A wealth of woodland resources as raw material forest base construction of the company laid the foundation. The company has 51 million mu of forest land to the government on the basis of the active purchase of new woodlands, to expand and accelerate the construction of industrial raw material forest base, relevant work is progressing steadily.
3. To speed up the development of forestry, is the world's economic development trend is to maintain ecological security, promoting national unity and promote socio-economic sustainable development and poverty alleviation mountainous areas, border stability, social harmony and a necessary requirement. Yunnan is one of the country's four key forest areas, the focus of Yunnan Jinggu county forest, forest resource-rich, with high coverage and good conditions for forest production, forestry development potential.
Negative factors:
1. With the full liberalization of the market Simao pine resin, pine resin production to the company's acquisition has brought a lot of pressure, resulting in increased total cost of forest products.
2. Indicators of wood harvesting restrictions, so that timber harvesting costs.
3. Road transport limit load, capacity and fuel tension in the company of the original fuel procurement, transportation for products cause difficulties, leading to the company's transportation costs have increased.
Investment proposals to speed up the development of forestry, is the world trend of economic development; Yunnan is one of the country's four key forest areas, the company Jinggu county seat of key forest areas in Yunnan Province, forest resource-rich, with high coverage, woodland conditions of production is good, huge potential for forestry development; but the national forest policy changes and market price fluctuations greater impact on the company's cost of capital supply and demand become more prominent; bargain-hunting due attention.
