Promoting education negotiable securities: Double arrow stock reasonable value sector 23.92-28.08 Yuan
examination commentaries
China becomes the global biggest conveyor belt production and marketing country: during 2003-2008 years the Chinese conveyor belt output compound rate of increment surpasses 20%,2008 years to amount to 230,000,000 square meters, occupies the global market about 3/1. Shifts gradually along with the European and American countries conveyor belt profession to China, in the future the Domestic enterprise will welcome the high speed development opportunity.
Corporation is the domestic high force conveyor belts commands troops the enterprise: The double arrow stock is domestic concentrates the rubber conveyor belt research and development, the production and the sale commands troops the enterprise. The main product for each kind of high strength conveyor belt, the product widely applies in profession domains and so on steel and iron, cement, coal, electric power and harbor. Company in 2009 business income 627,000,000 Yuan, net profit 0.61 Yuan, domestic market percentage of 10.5%.
Corporation holds the superiority in the high-end domain: The conveyor belt profession subdivides the market competition pattern to split up gradually, the company and so in the high-tech product holds the superiority in the coal mine shaft being flame-resistant conveyor belt and the tubular Oil Resistant Conveyor Belt.
the overseas market makes the breakthrough hopefully: The company product performance-to-price ratio already had the international competitiveness, along with Australian, the South America mining industry’s rapidly expand, the company is hopeful is developing the overseas new customer aspect to make the breakthrough.
solicits throws the project to further promote the company competitive power: The double arrow stock this time plans to distribute 20,000,000, will raise the fund to use in 11,000,000 square meter high force conveyor belt items of basic construction. Will solicit throws the project to cause the company to produce can obtain the promotion, the product mix can further optimize, will promote company’s market competitiveness comprehensively.
suggestion inquiry sector 21.53-25.72 Yuan: Estimated that the company 2010-2012 years spread thin EPS are completely 1.04 Yuan, 1.47 Yuan and 1.82 Yuan. Considered company’s competitive advantage and the profession broad prospects for development, the achievement 23-27 time of market profits give the company according to 2010 the estimate value, the reasonable value sector is 23.92-28.08 Yuan.
suggestion inquiry sector 21.53-25.72 Yuan.
risk prompt: The product recession in demand brings risk, raw material price fluctuations risk, exchange rate risk
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