Category: Money tips Release Date: 2007-07-13
Source: Hong Kong and Macao Information Author: Xu Bo
Xiamen Engineering Machinery shares (600,815): The company is China's key wheel loader series production of the backbone of a class of large-scale enterprises, with 18.51% of the market share rule the roost in construction machinery industry; company is the State Economic and Trade Commission 512 key contact one of the units enjoy the State Economic and Trade Commission to grant import and export rights; the future prospects for the development worthy of attention. The secondary market, the stock intraday strength heavy volume, there are clearly signs of active funds may be bargain-hunting interest.
Historical Information: G Xiamen Engineering Machinery (600,815): Construction Machinery vanguard QFII, to raise funds Mangqiang May 6, 2006
Source: Tiantong Securities
Construction machinery within the outer plate on the basis of financing mergers and acquisitions to accelerate the formation of the overall active movements, G 31, Xugongkeji, Changlin, G Liugong continuous heavy volume surged into since 2006, the Hong Kong market shares of China's Long Engineering Machinery (3339. HK) shares rose over 230% once. A share of the construction machinery section be re-activated, G 31, Hebei undeclared workers, Changlin so limit-frequency current, capital inflows race. The same section of the G Xiamen Engineering Machinery (600,815), as China's construction machinery industry is one of the leading enterprises, is the birthplace of China's first wheel loader. Company's leading product "Xiagong" brand loader is the Office of the State Oceanic Administration polar expedition rigorous screening is the only designated for the construction of the Antarctic loader brand, but also went to the Cambodian People's Liberation Army stationed in Hong Kong Garrison, peacekeeping and only the selected Loader brand. Currently on the market has obviously lagged behind price increases, we believe that it will recover the background in the industry to maintain steady growth in the future, the lag in the secondary market price will also provide a more unique trading opportunities, we offer an "overweight" investment rating .
First, the climax to stimulate capital markets, mergers and acquisitions industry, the overall activity in 2005, foreign capital for the leading enterprises in the machinery industry, there was greater level of interest in upgrading machinery industry giants in foreign countries pay close attention to the leading domestic enterprises receive the same time, domestic industry is also leading Follower of fashion in 2005, staged machinery industry mergers and acquisitions boom, such as: the U.S. Carlyle Group Xugong transaction amount 375 million U.S. dollars; Zoomlion acquisition of Hunan Pu Yuan engineering machinery Co., Ltd. transaction amount 77 million yuan. U.S. Watts Acquires Changsha Valve Works, transaction worth about 100 million yuan. And so on, thus our analysis is expected in 2006, machinery industry, mergers and reorganization of the event will be a continuation of the profitability of the enterprises may be resulting in a significant increase, so when and to hook the climax flock to the capital markets, we found that, Hebei undeclared work in July 2005 began 46 trading days or nearly double Xugongkeji in July 2005 used the 134 trading days up more than 130%, G Liugong, 36 trading-day gain in more than 60%, stock reform diluted to continue to fill up of the right to maintain a strong, Hebei propaganda work, G 31, Changlin Company has continuously risen sharply limit-frequency current. Mechanical plate has become the new darling of the market in 2006. As the machinery industry, one of the leading G-Ha workers (600,815) of the current or lagged behind, will face a relatively rare afternoon trading sexual opportunity. In addition, from March 2006 to conduct the reform of the voting shares of the fund quickly Opening revealed traces of 2005 Annual Report has not yet had the fund to intervene, and in March announced the voting situation, including QFII funds, including a lot of buying, If the Fund Kaiyuan 500 million, Shen 10000 Paris, 382 million shares Jijinkexun 376 million, the Paris Moritoshi 211 million, and even the recent performance is pretty good easy Fonda positive growth funds are also buying 97 million shares of so many investment funds In just 2 months rolling in, I believe there must be a satisfactory answer to the market.
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Second, industry needs to enhance development of space began in the fourth quarter of 2005, engineering machinery industry profitability has been greatly improved profitability inflection point has taken place. As the mechanical plate fundamentals are quietly changing the plate should remain concerned about the market outlook. The next 2-5 years, the Three Gorges Project, the Shanghai World Expo, the Beijing Olympic Games and other major projects have entered the peak construction period, the revitalization of the northeast, increasing investments in agriculture, also will enter the implementation phase, which will greatly promote the rapid growth of the scale of investment. As the first year of Eleventh Five-Year Plan, the need to modernize the traditional mode of production improvements, machinery and equipment on the huge market demand in the promotion of structural adjustment and industrial upgrading in the process, machinery and equipment manufacturing industry needs to advance development, and for the industry, production technology and equipment upgrades to provide device support updates. China's industrialization and urbanization is accelerating machinery industry also provides a huge market demand. Machinery industry in the Eleventh Five-Year "period will face China's urbanization process accelerated and large-scale infrastructure construction brought new market opportunities. The combination of policy and market environment, will accelerate the construction machinery industry to revive.
G Ha working for the Chinese construction machinery industry, one of the earlier of the listed companies, capital market as shares in the development of industrial buildings into a strong impetus. Listing 12 years, Xiagong operation and excellent performance in good faith by the public of the high degree of recognition, according to "China's 500 most valuable brands" assessment, "Xiagong" brand No. 146, the brand value of 4 billion yuan, while China's well-known trademarks, brand-name products in China. October 2003 Xiagong create the history of the first to achieve an annual output of construction machinery, loader pairs of ultra-million units sales track record. In 2004, Xiamen Engineering Machinery Industrial Park put into operation, is currently China's largest construction machinery manufacturing base. In the past, "10. 5" period, Xiamen Engineering infrastructure to seize the domestic large-scale development opportunities to achieve high-speed development, and sales revenue in 2000, 683 million yuan, in 2004 2.8 billion 2005 years to maintain a larger growth, achieving triple the scale of production and marketing operations, and always keep 17-18% of the high market share, has been living in the same industry leading position. In 2006, the company's high-end loader, excavator products are expected to form a certain scale advantages for the company's development has brought new profit growth point at the same time the company will seize the main raw material cost of steel decreased significantly favorable opportunity to strengthen internal tapping the potential and cost control, and strive to steadily improve the company's operating performance, to ensure the future sustainable development.
3, G Xiagong performance boost the steady growth of overseas expansion G Ha workers (600,815): The company is located in Xiamen, is the Western Shore Economic Zone of the central city, shipping convenience will help companies to expand exports, and actively participate in international competition. In March 2006 G Xiagong sent to Iran, 30 loaders in Xiamen, east to Hong Kong ship, in recent months, the company has successively received from the country's multi-pen larger orders, marking the company's overseas market expansion strategy has yielded initial results. With the business expansion of the scale and R & D strength, the company's low-cost manufacturing strengths and excellent cost-effective products will become increasingly apparent in the international market competitiveness will continue to strengthen this year, Xiamen Engineering Machinery Group plans to complete the total 30 million U.S. dollars out of more than an increase of 200%. Xiamen Engineering Group currently exports addition to the traditional Southeast Asian markets outside the Middle East market this year, 1,2 months they already have 24 rollers and 26 units forklift exports to Africa in Angola. In addition, Eastern Europe and the CIS markets, the South American market development has also grown. The part of the company's products loaders, road rollers and forklifts products have successively passed CE certification to enter the European and American markets of developed countries to achieve the "pass" to begin exporting small quantities the European market. In April of this year, Xiamen Engineering Group will take part in Paris, France organized by International Fair for Construction Machinery, at present they are prepared to exhibit a purchaser of construction machinery orders for payment. The smooth progress of company's export strategy will boost the future performance of the company appeared to grow steadily.
4, the fund shares to raise admission robbed reform, the future worth looking forward to the future development of G Xiagong main business will be based on the development of construction machinery, to loaders, excavators, as the leading product, to further establish in China's construction machinery industry leading position; actively adopt self - development, joint ventures, mergers and acquisitions and other means to speed up the development of other projects that have good market prospects for mechanical products, developed with considerable international competitiveness and strong comprehensive strength of the international engineering machinery enterprises. Company said it is considering construction machinery main business resources related to the upstream and downstream integration, expansion of strategic cooperation with foreign capital in order to improve the company's anti-risk capability and core competitiveness. Perhaps for that reason, the 2005 quarterly, mid-year report, annual reports have not a fund listed company, in the March 7, 2006 share voting reform shows, the top ten shareholders of circulation has now become dominated by institutional investors, such as the Fund Kaiyuan 500 million, Shen 10000 Paris, 382 million shares Jijinkexun 376 million, the Paris Moritoshi 211 million, and even the recent performance is pretty good easy Fonda positive growth funds are also buying 97 million shares, etc., total holdings number of 1720.9 million, representing the ratio of capital in circulation 11%. Clearly, the company shares of stock in February 2006 to change up before the heavy volume of funds is to fund the first Jiancang mainstream acts, and never has been concerned about the focus on institutional investors have expressed in their behavior to the company's confidence in the future. We expect 06-07 years of EPS were 0.12 yuan and 0.20 yuan, taking into account the industry's recovery, the future of the Company's main business-related construction machinery to integrate the upstream and downstream resources, planning, expansion of strategic cooperation with foreign capital in order to enhance the company's anti-risk capability and core competitiveness strategy, we give an "overweight" investment rating on
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