Category: Money tips Release Date: 2006-12-20
Source: Ternary Consultant
Early strong upside transaction reasons: companies and one of the world's hundred brands, the international beer industry's fifth-largest beer company Carlsberg Group's strategic cooperation. Jointly established a joint venture with foreign capital, Lanzhou, Tianshui, Jiuquan, Qinghai, four joint venture companies in beer production, beer production capacity of 30 million tons, two expansion up to 50 million tons, more than doubling the current.
Investment Highlights:
1, the company is mainly engaged in beer, malt production and sales, annual sales of 05 one-third of the Northwest market, the production of "Yellow River" beer in Gansu Province to reach 75% market share, regional leading position has been solid. Beer industry is mergers and acquisitions of "high zone", the company's strong position in the region and the lower the holding ratio of the industry will inevitably covet. It is reported that over the Yellow River in Lanzhou, a subsidiary of Carlsberg holds a stake.
2, the company jointly with the Carlsberg beer, made after consultations within three years, a new 500,000 tons a joint venture environmentally friendly modernization of Beer City project proposals are currently under way in preparing the project is completed, the company's annual production capacity of primary business of beer will reach 70 million metric tons, while wheat germ annual processing capacity to be expanded to 20 million tons of capacity and profitability of continuing operations would have been greatly improved.
3, involved in venture capital, the project has attracted Beijing 10000 coupons pass information companies (Investment 5 million yuan) and Gansu Agricultural University Ecological Agriculture Technology Development Corporation (invested one million yuan) to join us. In the western development policy context, the new industries with good opportunities for development.
4, high-tech agriculture, concepts, and Gansu Agricultural University join hands engaged in agricultural planting and technology research.
5, "Yellow River" trademark has been recognized as "China Well-known Trademark."
Risk Tip:
1, the disorder beer market competition, price competition is the impact on company's main performance an important factor, especially for general varieties of the mass consumer market, as prices dropped lower and lower, businesses have been profitable, but they do nothing to stabilize the market .
2, Lanzhou Huanghe S & T Venture Capital Co., Ltd. transferred the beginning of the bond 02 (15) 29,620 hands, after the company's personnel in turn bonds to equity investments, the stock market downturn in 2004 led to the stock account to the end of 2004 the market value of all shares substantially below cost, has provision for short-term investments decline in value of 5.8366 million yuan.
Investment recommendation: "The beer market share rapidly rising main, the main industry is profitable, but the company management is in chaos, external guarantees and major shareholders will continue to occupy the serious constraints of funds the company's sustainable development.. Reference price region 5.95 - 6.97 yuan, The first target located in the 6.21 yuan.
