Category: Money tips Release Date: 2007-07-26
Shenyin: Times New material benefit from the rapid development of high-speed railway construction into the
Era and a new wood (600,458 market, information, reviews, search) the existing main business elastic components, engineering plastics such as the next few years will be maintained more than 20% average annual growth rate. To benefit from high-speed railway construction, the company high-speed railway bridge bearing business showed rapid and sustained growth in the next five years, the business model from the current "street business" to upgrade the main "road under the business" oriented.
Ministry of Railways planning, "Eleventh Five-Year" period of China's railway infrastructure investment will reach 1.25 trillion, is "15" four times during the period. The 2007 investment 256 billion yuan, growing 64.84% year on year in 2006, formally opened the "Eleventh Five-year" high-speed railway construction in the prelude to the climax. "Eleventh Five-Year Plan" the building of 9800's passenger lines, of which over 75% of the roads need to bridge support ,07-10 years of a four-year orders will be larger than 12.0 billion, the company will receive 20-30% of the market share, total 24-36 billion, the company conservatively estimated annual average of 07-10 years of stand alone high-speed rail project orders on more than 600 million yuan. Road, will replace the road the next business operations as a business focus, the company is expected to become the great development of high-speed railway to benefit the worst of the A-share companies.
Analysts Renyun He is expected to 07-09, the company earnings per share were 0.31,0.52,0.76 yuan. In view of high-speed railway construction to give a good 5-10 years the company's future growth, given the company 08,09 years, 40,30 times a more reasonable price-earnings ratio, corresponding to a reasonable valuation of 21.2-22.8 million. To give a "buy" rating.
CITIC Securities: New Steel and Vanadium resources and cost advantages of the leading cast
New Steel and Vanadium (000,629 market, information, reviews, Search) located in the vanadium-titanium magnetite Panxi resource-rich regions, resources, cost advantages are obvious, in western China's largest steel company, the largest volume of hot-rolled sheet production base, China's largest vanadium products the world's third production base, China's largest and most complete variety of rail production base. The company's main products include heavy rail, profiles, hot-rolled plates and vanadium products, the acquisition after the cold rolling mill will increase the cold-rolled products.
Recently the company issued 3.2 billion in the separation of trading convertible bonds to raise funds mainly used for acquisition of the Group's cold-rolled and transform the rail beam factory, the building of the White Horse iron ore. One cold-rolled sheet will increase by 1.2 million tons, while zinc prices rose last year by the impact of this product profitability is not high, but the block of business is expected to contribute to the future profits of the company 1.5 ~ 400 million. Company is China's leading manufacturers of heavy rail, but also the world's species, the most complete specifications, the largest production capacity of heavy rail manufacturing plant. Heavy rail companies accounted for 1 / 3 of a strong domestic market. "Eleventh Five-Year" period of great development of the railway will greatly increase the demand for heavy rail, heavy rail service to the company brings a broad development prospects.
Hsi by analysts such as that the existence of Panzhihua Iron and Steel Group, the company's future into the possibility of climbing Cheng Gang, Panzhihua Iron and Steel Group's carbon steel business in order to achieve the overall market. 06-08 years, the company expects earnings per share were 0.35 yuan, 0.50 yuan and 0.60 yuan, giving the company a target price of 7 yuan and "overweight" investment rating.
Country Gold Securities: Sinoma science and technology of wind power blades the size of the operation was officially launched
Sinoma Science and Technology announced on January 25 to vote with the water, wind, Xinjiang, Beijing Huaming three legal persons and natural persons Xue China and other 18 joint ventures set up a "wind vane Sinoma Science and Technology Co., Ltd.," the notice, which Sinoma 3600 Science and Technology subscription shares, is the first largest shareholder, accounting for 36% of shares, in the Board of 7 members, Sinoma Science and Technology recommended 3.
The establishment of wind power company on behalf of Sinoma, marking the company's study of the long blades of wind power projects have been formally entered the industrialization of large-scale operational phase, the company leading products of the industrial development strategy for further implementation and progress. Water investment, Xinjiang Wind Energy are in the field of wind power equipment, has a wealth of operational experience in the industry by virtue of their status and resources, Sinoma wind power company will have a channel of inherent advantages. Reliance on a limited over the years, North glass technology accumulation and technology integration, composite materials, the field of special advantages, the introduction of international advanced design techniques, and results from the trial run, with domestic companies compared to other wind power blades, the company positioned relatively high, in the MW-class wind power blade manufacturing technical advantages are obvious. From 36% of the equity ratio, as well as 3 / 7 seats on the board of directors of view, Sinoma stronger control technology is conducive to the operation of the company's future to have more initiative. Expected that by 2010 wind power installed capacity of 500 million kilowatts, from 2006 to 2010 average annual compound growth rate of 38%, wind power generation industry's rapid development will bring to market wind power blades simultaneously to grow rapidly.
Analysts expect He Guowen ,06-2008 earnings per share were 0.391,0.736,1.272 yuan. In view of the company has a good technical reserves, as well as strategic shareholder in wind power industry, a wide range of resources, but the scale of the project is still at an early stage, its future contribution to earnings is not clear, maintaining a "buy" rating.
States Securities: Commodity City has long-term investment attractiveness of the industry advantage
Small Commodity City (600,415 market, information, reviews, search) The recent share price break 100 yuan / share, ahead of schedule hundred dollars expectations of investors for small commodities city of outstanding business performance and future development potential of the positive reflection of the media so-called "manipulation" one that is hardly convincing. In the long term Commodity City's unique business and industry dominance still has a long-term investment attractiveness, while the International Trade City three equity factors, the negative impact of belonging to stage adversely affected.
In general, if not three times the contribution of the International Trade City, Zhejiang China Commodities City still has some stock of the assets of its own endogenous growth is expected to average annual growth of about 15%, significantly lower than in recent years to maintain the average growth rate of around 50%. Premium growth may slow as the growth of the obvious down, so to lose three in 2007 controlling the current dynamic price-earnings ratio of about 30 times the premium valuation may have a certain degree of adjustment pressures. Commodity City, is still a good variety of long-term investment.
Analysts believe Sun Zhimin, International Trade City three equity problem at present, no final clear, and therefore the current information there is the possibility of change. In which the circulation of the interests of shareholders and the controlling shareholder of coordination, communication, would be a positive impact on the formation of three equity issues, another upcoming equity incentive mechanism may also have some positive impact. A reasonable target price of 72 yuan, to maintain "the short-term - the recommendation of a long-A" investment rating.
Nanjing Securities: Chinese laborers investment in technology to bring amazing benefits Changjiang Securities
Chinese laborers Technology (000,988 market, information, reviews, search) is the largest shareholder of Central China Science and Technology Industry Group, a listed company directly owned 47.68% stake in Chinese laborers science and technology, the actual control of man-made, Huazhong University of Science. At the national vigorously promote innovation, encourage the industrialization of educational outcomes favorable context, a listed company with Huazhong University of Science and Technology R & D strength, on the one hand can greatly reduce the cost of technology purchased or imported the other hand, be able to seize the technology to the market opportunities.
Chinese laborers Science and Technology holds a total of Changjiang Securities Co., Ltd. 2000 million shares of stock, so in the present Changjiang Securities backdoor listing of the established fact that the context of listed companies is expected to benefit greatly. Suppose the Yangtze River after the listing of securities rose 30% - 50%, then the company can benefit from 2800-4800 million, this value has accounted for the company in 2005 net profit more than 80%. Expected that the company's future investment income is the only exception staggering. As the company has recently initialed on the acquisition of "Chutian laser" and "high-tech laser Unity assets", the entry into force of this acquisition, the Chinese laborers and technology will be sufficient scale of business development. The company's optoelectronic devices is mainly export-oriented products, for the overseas market, it can also be an additional appreciation of the RMB exchange rate to share the benefits of medical technology at the same time as China's continuous progress and people's concern for the health degree, is expected to the company's laser medical equipment, there will be sufficient development.
Analysts Yao-column that, according to company's 2005 annual report and 2006 data reported in the third quarter, taking into account the cyclical features of the company's products are very obvious, expected full-year core earnings are expected to reach 710 million yuan, earnings per share will reach 0.35-0.38 yuan, given the company's growth, as well as in 2007 the U.S. stock market in technology stocks began to heat up the situation, the theory of expected stock value of 14-19 yuan. To give a "strong recommendation" level.
Country Gold Securities: Conch Cement Company the leading position of multiple advantages of laying
Conch Cement (600585 market, information, reviews, search) in the strategic layout, management, and capacity advantages of the size of three cast Conch Cement's dominance, the core competitiveness significantly. Consumption of cement companies choose to account for about 70% of the proportion of the East China and South Africa regional distribution operations, to ensure the future of the conch has a large market size and development space. Conch Cement has the domestic cement industry's best management talent, but also the sustainability of its strong talent advantage. Management, greater advantage of its mature management model is also an internal reproducibility, make new assets, profitability achieved in the Conch mode, a relatively high level.
Acquisition of four subsidiaries, minority interests, is a win-win outcome: According to financial data for 2005 to do a static calculation, the thickening of Conch Cement earnings per share of 18.9%. Waste heat power generation will become the future's bright spot in this aspect of energy down from the current waste heat power generation projects already in operation running situation is expected in 2007 -2008, the company's generating capacity reached 600 million degrees, respectively, and 12 billion kWh, respectively, cost savings of approximately 2.4 million and 480 million yuan.
He Guowen 06-08 years, analysts expect the company to achieve earnings per share were up to 1.038 yuan, 1.542 yuan and 1.936 yuan. From a regional perspective, the eastern region is still the revenue and profit contribution of the main areas. Comprehensive consideration relative valuation and absolute valuations, the company's future 6-12 months at a reasonable price 37.01-38.44 yuan, to give a "buy" investment advice.
