Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-02-01
Fujian Expressway (600,033 market, information, reviews, search) stock reform promised by Ronin high-speed injection of assets, taking into account weight charges to be implemented in 2007 as profit growth, but affected by the policy, Ronin high-speed acquisition of the assets temporarily unable to start , while the Fujian Expressway weight charge time from the expected early in 2007 delayed until April or so, coupled with parallel national highway not to bring the weight fees, weight fees and charges policy, it is expected that the implementation of the company's 2007 results more neutral in terms of impact.
Fujian Province in 2004, formally proposed the building of the Economic Zone of the strategic vision, in 2006 "west side" is written to the State Department, "Government Work Report" and the national "Eleventh Five-Year" Plan, Fujian, a national strategy to support another key areas. Fujian Province in the vertical highway to connect the Yangtze River Delta and the Pearl River Delta trunk, as these areas continue to maintain good economic development, and Fujian "Hercynian strategy" of the implementation of the future high-speed room for growth in Fujian optimistic. From the Fujian Province in the coming years the development of high-speed point of view, investment in high-speed Punan difficult to profitability by 2011, it is estimated Quan Ha-speed widening project will also be put on the agenda in 2008, along with Fuzhou-Xiamen Railway will be the end of 2009 opened to traffic, the company is expected to 2009,2010 results may decline, since 2011 growth has begun to gradually return to stability.
Hai Tong Securities analyst Ma Ying 2006-2008, the company expects earnings per share were 0.31 yuan, 0.35 yuan, 0.42 yuan. By 16-20 times 2007 estimated price-earnings ratio basis, the company's reasonable price of 5.6-7.0 yuan. According to the results of cash flow valuation, Fujian, high-speed and reasonable price of 6.06-7.29 yuan. The first time, give "overweight" investment rating.