Category: Money tips Release Date: 2005-12-20
Source: Masukuni Investment
The recent drop in international crude oil prices, the corresponding studies and institutions have lowered the new energy and alternative energy ratings, in fact, in the long run, the progressive scarcity of oil resources is inevitable, and the new energy sources to become the world's energy consumption is the main force inevitable. The domestic energy strategy is to develop nuclear energy, improve the efficiency of coal power generation, while vigorously promoting solar, wind, geothermal, tidal energy use in R & D investment. At present the installed capacity of nuclear power in China, the proportion of less than 2%, far below the world average of 17%. With the advances in nuclear power technology, its safety has been greatly improved in the long run may well be one we should vigorously develop clean alternative energy sources. Hydropower are "in the protection of the ecological basis of orderly development" projects, resulting in ecological and environmental costs are too high, it will not be fully energy mainstream. Wind, solar, geothermal and tidal renewable energy sources, etc. Although virtually no harm to the environment, but limited to technical and cost constraints, yet to the size of the development of a long process.
The most realistic and urgent issue is the fuel. Present a partial substitute for petroleum products can include ethanol, methanol, dimethyl ether and bio-diesel. The use of ethanol as an additive, because the combustion is mainly the heat value can not be completely replaced by gasoline. But let cars alcohol consumption is not always the long term, should be no way to approach. Heating value of methanol than ethanol, the product has an edge; China is a coal-rich country, the availability of resources on the comparative advantage; coal enterprises on the methanol project has significant cost advantages, a number of relatively more optimistic. Shenhua Energy is a leader in this field. Development and Reform Commission in mid-July in an alternative energy conference on the various options and to make comparisons and propose a regional focus on the development strategy. Very hot this time the concept of dimethyl ether, from the combustion characteristics of the comparison, the purity is higher than 93% of the dimethyl ether can be completely done LPG alternative fuel, mixed with LPG, town gas or natural gas co-firing, but also can improve combustion efficiency . In terms of practical application, dimethyl ether is unlikely to ultimately selected as the alternative fuel vehicle, more likely to be civilian alternative to natural gas.
Sinopec rose today, but that there are "privatization" of the expected Shanghai Petrochemical and Yizheng Chemical Fiber (600871) The two species is expected to fall due to the emergence of lower limit, there is a serious emotional component. In fact, rule out the possibility of privatization, the investors should be changed right from the share price itself, to analyze the investment value. Share reform program 10 to send 3.2 shares, slightly higher than the market average of the basic price level. If today's lower limit prices, the price of sending the actual position after the cost of 4.23 yuan, so the price is no doubt there is a midline attractive. From the fundamental perspective, is the refineries on the petrochemical enterprises, the company's production and operation of all normal reason is policy-induced losses occurred due to the price mechanism. Currently Development and Reform Commission on domestic refined oil prices has been "cost pricing mechanisms" to study, the state subsidy mechanism for refined oil can not be sustained for long and unreasonable system faces reform is inevitable. International oil prices due to supply and demand relationship, and supply bottlenecks in addition to unpredictable volatile international political situation, the lack of refining capacity is also an important reason for petrochemical enterprises will not be long term the market was light and the problems of underemployment, which imply no need to worry about the viability of such a listed company. From the trend point of view, lower limit of such a closed prison certainly does not need to intervene today, but it is necessary to remind investors that the trend is not on the petrochemical shipments, like Xi Pan.
The Unit is the Shanghai stock market veteran business unit, in the long-term appreciation of the renminbi against the backdrop of its own commercial real estate will be a re-assessment; The company is also the core of the concept of market consumption, market outlook has considerable development potential. The most important is that in the post-reform era company-owned stock equity investment will greatly enhance the company's market value. Shanghai local SASAC has identified the company platform to integrate the retail industry, This is a great asset to the unit in terms of a significant positive value. The report shows that, the company has a large number of Shanghai-listed company shares to the company, after full circulation benefits will be enormous, the company also has Haitong 2-3 million shares, once listed Haitong successful, the company's value will be to be further improved. Taking into account the market's short-term adjustment pressures, investors may consider long-term investing in the company, proper bargain hunting is appropriate.
G SAIC (600104) (quotes, information) whether short-term intervention: G SAIC additional orientation program adopted by the Board of Directors, the company will undoubtedly become a model for the integration of the automotive industry. G SAIC will be the issue price of 5.82 yuan per share (currently trading at 5.03 yuan), to SAIC directed additional 327.5 million shares. SAIC-owned enterprise share of all vehicle prices will be right into the listed company, including: a 30% stake in Shanghai GM, Shanghai Volkswagen 50% of the shares of SAIC Automotive 60% stake in SAIC-GM-Wuling 50.098% of the equity stake of 11 auto enterprises, are quality assets. The sale of assets, including 15 non-critical parts and components the company's assets, a total of 2.342 billion yuan. Through this integration, G SAIC parts from a production of listed companies has become truly representative. The transaction, SAIC SAIC shares held by G ratio increased from 67.66% to 83.83%. Trend point of view, the basic unit have fallen to pre-announcement price level in the short term, there should be a value to the intervention.
