Category: Money tips Release Date: 2007-06-14
Source: Kim Merrill Lynch Investment Authors: Huang Min Hong
G-Fei Yue (600,654) 19 th consecutive hundred companies nominated by the China Electronic Components, Ministry of Information Industry in 2005 was named the 19th top hundred electronic enterprises No. 31, scientific and technological strength are very conspicuous. With the explosion of 3G telecommunications industry, will usher in a historic opportunity.
First, the leading 3G technology elite
The 19th consecutive hundred nominated by the China Electronic Components business, since 1997, for 9 consecutive years topped the list; in 2005 by Ministry of Information Industry as the 19th session of the top hundred electronic enterprises No. 31, scientific and technological strength, are very conspicuous. The company's main production subsidiary Alcatel Shanghai IC intelligent terminal equipment and network systems, its market share up to 30%, with the continued growth of the telecommunications business, will become the company's new profit growth point. In addition, the company is also actively involved in fiber optic cable production, a subsidiary of Yue Fei Hengtong Wujiang New Optical Fiber and Cable Co., Ltd. cable plant 10,000 square meters, one after another from Finland's Nokia, NEXTROM, Italy, Mai Dike, the U.S. laser company, the United States YORK Company, Wuhan Post Bureau Hospitals and other companies to introduce internationally advanced production and testing equipment, strong technical force, and strive to meet the domestic market for optical fiber, optical cable needs. Ministry of Information Industry has TD-SCDMA as China's 3G communication standard, and is the size of cities of Xiamen and other places to conduct tests, 3G communications industry, a prelude to outbreak has been widened, which for the G Feile equipment suppliers such as the development of history opportunities.
Secondly, the overall theme of the acquisition of listed hazy concept
The company's controlling shareholder Shanghai Instrument and Electronics Holding (Group) Company is investment management, real estate management and asset management-based asset management company, has formed a large-scale IT industry, mainly integrated circuits, smart instrumentation and systems, IC card industrial chain, SMT surface mount, new electronic and optoelectronic components, lighting, electronics and information systems integration industry, eight categories. According to reports, Shanghai Instrument and Electronics are listed as a whole possible. Through the overall market, is bound to be high quality assets into its group companies, and thus G Fei Yue fundamentals are expected to appear reborn-style changes. As it was pre-G on the Hong Kong listing by the market as a whole in hot pursuit of the G-Fei Yue's overall concept of a more extensive listing of room for imagination. The company through the share reform, the major shareholder of Shanghai Instrument and Electronics Holding (Group) Company holding only 9215 shares, the total equity ratio has dropped to only accounted for 12.20%, we can say quite a dispersion equity. The company's net assets per share reached 1.67 yuan, is only 2 yuan more than the current share price, book value is very low, asset quality, full circulation is likely to be the secondary market after the acquisition of the preferred targets, and large shareholders are bound to try to increase the holding stock ratio, can be said that the acquisition of a soul-stirring battle is imminent.
Thirdly, IPTV seize the high ground area
Company backed by powerful Shanghai Instrument and electricity, 12 million yuan investment in the formation of flying fun - Si network technology company in northwest China's most powerful systems integration company and its network of technology-based industries showing rapid development momentum, in the Northwest Territories established "in northwest China Online" website, focusing on developing long-range interactive multimedia information transmission system and an integrated broadband network based on CATV systems, has a quite prominent IPTV industry's leading edge. As China's digital TV industry billions of dollars of the overall speed and the IPTV markets start to usurp the business opportunities of the G-Fei Yue is expected to usher in an extraordinary opportunity for development.
Fourth, the field of automotive electrical obvious advantages
Company in automotive electronics, step-line system, highlighting strengths, and the United States Ford Motor Company, Siemens VDO, Germany's Strible Company, the United States GHSP Inc., Kostal companies among the world-renowned enterprises to maintain good relations of cooperation. The company invested 30 million yuan last year, the formation of vehicle control systems company, and large-scale replenishment of Shanghai and Shanghai Automotive Electric Engineering Co., Ltd., allows the company to compete in the automotive electrical field strength is effectively improved, and actively with the United States Ford Motor system supporting the project, expected to be safety air bag, safety belt, steering wheel, supporting co-operation to achieve a breakthrough. Report of 2006 showed a good development trend Auto Electric sales revenue increased 30.08 percent over the same period last year. Reporting period, the Company has strengthened its new product development and new investment, with the German company's two Strible technology introduction project-PQ46 cooling fan controller, in cooperation with the United States GHSP supporting electromagnet stall switch project is progressing well, had to achieve mass production. The company also launched the National Development and Reform Commission industrialization project "Auto Body Electronic Control and key electrical and electronic industries", the project to be completed before the end of equipment modification, the development of good prospects.
Secondary market, the old eight-legged essay, one of the Unit as the Shanghai stock market, stocks, sex has always been active, pre-main funds had repeatedly Jiancang signs, with the broader market, after adjustment, a rapid decline, but the volume quickly shrink, Xi Pan signs of obvious now back to the bottom of the region, is absolutely price is only 2 yuan to succeed, and constitutes the bottom of the Yuan Hudi beautiful form, the market outlook is expected to substantial upside out of the bottom of the market, can be great concern.
