Category: Money tips Release Date: 2006-01-08
Yu Sanxia (000,565 market, information, reviews, search) through shares held by the Three Gorges to change 80% stake in Yingli, Yingli is currently major investment in the Three Gorges construction of natural gas, -3 million tons of hydrogen cyanide -12.6 million tons of hydroxy-B cyanide -5 million tons of glycine Project , the technology for another partner unis Yingli autonomous technology, belonging to the international advanced technology of direct Hydantion.
Company's good prospects for the project, glycine is the amino acid series, the most simple structure, a kind of essential amino acids in the food, agriculture, medicine and fodder has a wide range of applications. In China, the absence of the corresponding food-grade glycine quality standards and the adoption of new technology production facilities, making food-grade glycine can only be imported from abroad. Company expects to 3 months construction, 3-month equipment installation, 1-2-month trial run, so that the end of the third quarter is estimated that in 2007 could be put into production. First half of the installation process is mainly faced with the further amplification of the problem, but has passed experts, process the second half of the main faces from trial to full industrialization issues. Huaxing Chemical Industry is currently working with the co-operation, because of the joint venture holding the right to dispute, temporarily impossible. After moving to Jiangjin, the company will paint coatings business from 3 million tons to 6 million tons, 10,000 tons, including a new water-soluble coating production lines. Oil painting business because of intense competition, rising costs, the business profitability is not strong.
China Merchants Securities analyst Chien Nan-hui, in 2006 profit came mainly from investment income, earnings per share is expected to 0.03 yuan; 2007 Glycine project was commissioned in the third quarter, will bring 24 million net profit, earnings per share of 0.22 yuan ; in 2008 50,000 tons full production, then the earnings per share were 0.75 yuan. If a company release of project progress and capacity to achieve the desired, then a reasonable price in the 15 or so, the equivalent of 20 times 2008 earnings, but because of large-scale chemical plant put into operation there will be uncertain to some extent, based on the precautionary principle, given the "Recommended-A "rating.
