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Data:2009-12-12 2:34
Source: Securities Times Author: Zhang Rui
Chenming Paper (000,488) as the world's paper one of the top 50, with the concept of the Shanghai and Shenzhen 300, deep into the concept of 40 Shanghai and Shenzhen 100 concepts, the current price-earnings ratio less than 12 times, compared to the foreign listed companies in the paper industry average of 15 times the price-earnings ratio is still large room. From the fundamental analysis and appreciation of the renminbi does constitute a real good paper plates, one greatly reduces the cost of paper-making raw material. Second, it helps to reduce paper cost of procurement of imported equipment. Therefore, the expected appreciation of the yuan is expected to accelerate the fast-track "burn-wang," Paper Plate.
For nearly a decade, the expansion Chenming Paper Holding high the banner of the building from the acquisition of qihe board mills produced 300,000 tons high-grade cardboard base, to the holding Hanyang Paper, Chibi Chenming, the formation of Jiangxi Chenming, to spend 740 million takeover bid for ST-Ji paper assets and total investment of 9.4 billion pulp project in Zhanjiang, the company continued strategic layout in the paper market, to forge a leading position in the domestic paper industry. Chenming Paper third quarter 2006 results realized main business revenues of more than 8.8 billion, net profit of 454 million, earnings per share were 0.33 yuan, is that when folded to prevent the blue-chip blue-chip variety.
Company's share-trading reform commitments in 2005 -2007 the average annual net profit growth of not less than 20%, this commitment shows the management's confidence in the development of enterprises. Chenming Paper need to be noted that in October this year, company executives and other incentive plans granted to an object 70 million copies of stock options, stock incentive plans to motivate Chenming Paper source object-oriented Chenming Paper issued 7000 shares of stock. Each stock option has an authorized within five years from the date right on the possible price of 4.73 yuan to the right line and line conditions, the right to purchase shares of a stock right Chenming Paper. The current price was only 4.76 yuan, with the company executives and other incentives exercise price of an object is almost equivalent to the price from this simple analysis, compared to 4.27 yuan per share in net assets, is currently Chenming Paper are indeed seriously underestimated by the market.
The secondary market, the stock consecutive heavy volume, multi-shot break the trend of stock prices Thursday disk deliberately suppressed evidence of the more obvious, as the current funding attacks on the main blue-chip variety, once the volume, breaking its intensity will be can not be overlooked, but due to technical the stock already has accelerated breakthrough trend, it is proposed that investors focus on short-term.
