Data:2009-12-12 2:34
Category: Money tips Release Date: 2007-01-17
Chengxing shares (600,078 market, information, reviews, search) in 2006 realized main business income of 1.585 billion yuan, compared with a year earlier, down 2%; main business profit of 208.14 million yuan, increased by 29% a year earlier, to achieve net profit of 66.88 million yuan, an increase of 30%. The company to achieve full-year earnings per share of 0.167 yuan, net capital gains rate of 5.9%.
With the domestic market price from phosphorus 9,000 / ton significantly increased to about 11,000 yuan / ton or so, the downstream phosphorus chemical product prices have rebounded. Chengxing shares in the fourth quarter phosphate gross margin rose to the highest in recent years, 16.17%, phosphoric acid, a slight decline in gross margin over the third quarter, but up 18.21 percent of the high level. Chengxing shares Maitreya yellow phosphorus production base Xuanwei and put into operation one after another began to phosphoric acid and phosphate products for the company to provide a stable supply of raw materials and low-cost yellow phosphorus, the company for more than two types of phosphorus chemical product gross margins will be stable. The company invested heavily in front of Yunnan Phosphorus Ho Power Company has achieved breakeven in 2006, Sherwin electricity integration project phosphorus yellow phosphorus and power generation plant will be fully operational in 2007, gradually began to become the main profit of the next two years Chengxing Share growth momentum.
Orient Securities analyst Yu-Hui 07-08, the company expects earnings per share were 0.41 and 0.54 yuan, respectively, 19 times earnings and 14 times, with the same industry comparable companies valuation close to Hing Fat Group. Taking into account after 2008, Ho-P Power Company earnings will be due to circular economy projects and production-owned coal mines continue to experience significant growth, to maintain "overweight" rating.
