The company posted a quarterly: 2011 quarter achieved sales revenue 8.455 billion yuan, an increase of 122.44%; Attribution of shareholders of a listed company, 1707.24 yuan net use year-on-year rise sharply reduce 232%, annulus. Realize basic earnings per share 0.15 yuan, year-on-year drop 6.5 percent, compared 226% rise sharply.
Conclusion:
First quarter results flat and annulus year-on-year rise sharply 232%. Benefit from marketing deploitation ability enhancement, year-on-year increase sharply in the first quarter earnings growth 122%, annulus, but due to 63% more big business cost growth (year-on-year growth in the first quarter 135%), lead to realize the profit of basic and flat, but rise up 232% period. This year first quarter results basic and the second half of last year aggregate flat.
Secondary resources recycling project examination and approval of the directional seasoned into the final finale. By the end of July 2010, plan to march directional seasoned preplan precious metal recycling business, used for secondary 5 tons of precious metals secondary resources comprehensive recycling industrialization project construction. This project early MBT Sini march this year has been received the notification of acceptance of the China securities regulatory commission, is now waiting for CSRC for approval. The project is expected to put into production, after the completion of the early 2013 each year is expected to increase a company operating income 8.3 billion yuan, the annual average net profit, according to 5990 yuan diluted later equity 0.36 yuan. We think the company relies on technical advantage, raw material advantages and starter advantage, is expected to become a domestic platinum department in the integration of secondary resources recovery metal leader. .. The company industry layout preliminary form. In 2010, the company product, trade and resource three fields achievements. Products in key development of automobile exhaust catalyst, precious metals military materials, precious metals chemicals, catalysts and solar slurry, realize the precious metals and so on the new income substantially increase.
Joint venture established trade in hunan yongxing guiyan resources companies, using "silver city of China" regional and policy advantage, actively develop the silver recycling, trade and analytical business, realize that year profit. Offered Resources established guiyan () resources company, extension dalongkou chain, the construction company secondary resources industrialization platform, precious additionally-issued at present this project examination and approval has entered the final finale. The 2011 company will continue to revolve around the above three blocks, bigger and stronger.
Maintain buying investment rating. According to 2011 platinum, silver and gold for average 35 / $1,450 17 / price per ounce, 2012 respectively 40 / $1,500/1780 per ounce, forecasting the 2011-13 years after diluted EPS of $1.67 0.MBT Fumba ,
70/1.02 / diluted 0.91 / before ($2.17 1.33 / expected future three years), compound growth of above 60%. The company as precious metals processing field, the leading enterprise in the next three years is expected to sustain growth situation; At the same time the company as domestic platinum is the forerunner of the metal secondary resources integration, and research institutes, the future of the reform of successful example is expected to enjoy a national policy further support. Maintain company buying investment rating.
Risk factors: domestic liquidity contraction better than expected; Car sales fell sharply;MBT Goti Precious metals prices dropped sharply. (eastern securities institute Yang b f.effects)
Showing posts with label MBT Kipimo. Show all posts
Showing posts with label MBT Kipimo. Show all posts
Thursday, April 28, 2011
11 years orders and sales are obviously growth
Quarter company performance than expected for heat shrinkable film industry in the first quarter of the year, off-season. However, 11 years orders and sales are obviously growth than usual. To achieve the company operating income 1.05 billion yuan, an increase of about 25.08%, belong to the shareholders of a listed company 2442 million yuan, profit 97.38% year-on-year increase. Usually a year in the fourth quarter is the most exuberant demand from 11 years season, and in the first quarter of company business income to see, annulus annulus annulus, operating profit dropped 13% rise 11%. We think this aspect elucidation company in the market competitive to continue to strengthen, on the other hand also shows that the heat shrinkable film industry global economy picking up and consumption benefits in a new round of forecasted upgrade.
The company is a global leader, heat shrinkable MBT Kipimo clog film POF POF crosslinking membrane oligopoly zhejiang all of the world's most famous as high quality POF heat shrinkable film makers and domestic outstanding POF heat shrinkable film overall packaging solution providers, is China's first, the world's second-largest POF heat shrinkable film production enterprise, annual production capacity is life-time TFR will be 2.27 million tons. The company's crosslinking POF heat shrinkable film has a strong technical doorsill, only four international enterprise have relevant technology, at present there is no domestic rivals. Compared with the usage of the American crosslinked films to overall POF heat shrinkable film dosage, China 5% of 70% of the dosage of great development space than. Meanwhile, crosslinking POF heat shrinkable film to PE heat shrinkable film and paper packaging strong alternative competitiveness, potential market space is currently the market volume several times.
Focus on its main business, reveal company long-term strategic company funds raised in order to exceed $247 million new 3.4 meters investment POF shrinkable film production line 2, after production will provide 9,000 MBT Sawa ，tonnes of polyolefin heat shrinkable film production capacity, among them, crosslinking heat shrinkable film designed capacity of 7,500 tons each year, high-performance heat shrinkable film designed capacity of 1500 tons annually. Due to the high performance POF heat shrinkable film demand rapid growth and project long construction period, we think the company showed the company focused on ahead of its layout, creating a global leading position determination. The company after the completion of the project will strengthen in POF heat shrinkable film areas of scale and technology, products type etc many advantages.
Maintain "strongly recommend" investment rating product structure upgrade and existing capacity further mining is the main growth company recently performance. Donations after production company will cast project to global heat shrinkable film bibcock enterprise forward, we think the company has scale, technology and so on many advantages, has a strong market competitiveness, the company long-term high-speed growth can be expected. We expect the company 2011-2013 EPS 1.02 yuan, 123 respectively, gives the company lobbyists and 1.71 MBT Shuguli , yuan "strongly recommend" investment rating. (first venture r&d center giant kingdom Yin)
Guiyan platinum industry (600459) : performance annulus has soared
The company is a global leader, heat shrinkable MBT Kipimo clog film POF POF crosslinking membrane oligopoly zhejiang all of the world's most famous as high quality POF heat shrinkable film makers and domestic outstanding POF heat shrinkable film overall packaging solution providers, is China's first, the world's second-largest POF heat shrinkable film production enterprise, annual production capacity is life-time TFR will be 2.27 million tons. The company's crosslinking POF heat shrinkable film has a strong technical doorsill, only four international enterprise have relevant technology, at present there is no domestic rivals. Compared with the usage of the American crosslinked films to overall POF heat shrinkable film dosage, China 5% of 70% of the dosage of great development space than. Meanwhile, crosslinking POF heat shrinkable film to PE heat shrinkable film and paper packaging strong alternative competitiveness, potential market space is currently the market volume several times.
Focus on its main business, reveal company long-term strategic company funds raised in order to exceed $247 million new 3.4 meters investment POF shrinkable film production line 2, after production will provide 9,000 MBT Sawa ，tonnes of polyolefin heat shrinkable film production capacity, among them, crosslinking heat shrinkable film designed capacity of 7,500 tons each year, high-performance heat shrinkable film designed capacity of 1500 tons annually. Due to the high performance POF heat shrinkable film demand rapid growth and project long construction period, we think the company showed the company focused on ahead of its layout, creating a global leading position determination. The company after the completion of the project will strengthen in POF heat shrinkable film areas of scale and technology, products type etc many advantages.
Maintain "strongly recommend" investment rating product structure upgrade and existing capacity further mining is the main growth company recently performance. Donations after production company will cast project to global heat shrinkable film bibcock enterprise forward, we think the company has scale, technology and so on many advantages, has a strong market competitiveness, the company long-term high-speed growth can be expected. We expect the company 2011-2013 EPS 1.02 yuan, 123 respectively, gives the company lobbyists and 1.71 MBT Shuguli , yuan "strongly recommend" investment rating. (first venture r&d center giant kingdom Yin)
Guiyan platinum industry (600459) : performance annulus has soared
the infuse the asset of the hexi corridor area for the 7 home farm
Companies with agricultural and chemical business is given priority to, the potatoes, MBT Kipimo clog hops (600090) planting and processing with relative monopoly position on gross margins stability. At present the company to gansu agricultural reclamation directional seasoned has finished, the infuse the asset of the hexi corridor area for the 7 home farm, will expand the company agricultural industrialization scale, promoting company profitability. Secondary market, the stock funds have recently main signs to fill, considering the central no.1 document benefit farming policy, investors about to publish recent pay proper attention. (haitong securities (600837) DengQinHua)
Cofco tuen 600737) : (continued downturn sugar-cane up well ketchup
Beet sugar depending on prices to ascend, encourages business performance. The balance between supply and demand condition: sugar-cane keep in 1500 tons, keep supply approximately 1350 tons demand. Sucrose are sugar, sucrose mainstream product price basic decided to other sugar prices. Sugar-cane industry concentration is not high, in addition to the China (yield nanpu 200 million tons) individual enterprise production super million tons, other yield were not very high. The company beet sugar production, 46 million tons in 2009, the seventh, beet sugar first. Due to limited, squeeze area from long-term see depending on prices rising. Sugar prices this year 5,000 yuan per ton, breakthrough with company annual beet sugar yield 46 million tons of sugar beet sugar calculate, it is expected that the company business earnings 92 million - 1.2 billion yuan. The company has been seeking in recent years in the south, but due to annex other sugar refineryeach tightly control, local government failed to overcharge sugar refineryeach, but the company does not give up in this effort.
By DaXiaoNian influence, ketchup, production limited price increase expected this year, performance below year-on-year. Company production 46 million tons in 2009, ketchup, 27 million tons, the main export inventory. MBT Karani ,
Heinz, unilever and nestle and other companies accounted for about company of sales of nearly one-third. Supply and demand by global impact, ketchup prices across low. At the same time because many of the small factory foreword competition, now $600 lowest export ketchup dramatically lower than/ton, international market 800 - $900 per level, also severely affect company product export prices. Material company currently own 23 million acres of tomato plant base, can satisfy the annual about 25 percent of material requirement, other all needs to outsourcing. At the same time the tomato ketchup business ShouZhai links and upstream to downstream customers are not strong bargaining power. Judging from the current price movements, we expect ketchup business results may be below year-on-year.
Our point of view
The company belongs to a typical agricultural companies by product cycle impact, very strong. Beet sugar basic price changes with sugar price fluctuation; Ketchup business mainly by the world prices on material supply and demand influence, MBT Kisumu ,to outsourcing 75%. From this year, we can see the price for this year, the company performance ketchup, even bigger influence may generate profit comprehensive sugar industry this year, as the previous overall performance may also, temporary give company "neutral" investment rating. (hongyuan securities (000562) sujing was however)
Cofco tuen 600737) : (continued downturn sugar-cane up well ketchup
Beet sugar depending on prices to ascend, encourages business performance. The balance between supply and demand condition: sugar-cane keep in 1500 tons, keep supply approximately 1350 tons demand. Sucrose are sugar, sucrose mainstream product price basic decided to other sugar prices. Sugar-cane industry concentration is not high, in addition to the China (yield nanpu 200 million tons) individual enterprise production super million tons, other yield were not very high. The company beet sugar production, 46 million tons in 2009, the seventh, beet sugar first. Due to limited, squeeze area from long-term see depending on prices rising. Sugar prices this year 5,000 yuan per ton, breakthrough with company annual beet sugar yield 46 million tons of sugar beet sugar calculate, it is expected that the company business earnings 92 million - 1.2 billion yuan. The company has been seeking in recent years in the south, but due to annex other sugar refineryeach tightly control, local government failed to overcharge sugar refineryeach, but the company does not give up in this effort.
By DaXiaoNian influence, ketchup, production limited price increase expected this year, performance below year-on-year. Company production 46 million tons in 2009, ketchup, 27 million tons, the main export inventory. MBT Karani ,
Heinz, unilever and nestle and other companies accounted for about company of sales of nearly one-third. Supply and demand by global impact, ketchup prices across low. At the same time because many of the small factory foreword competition, now $600 lowest export ketchup dramatically lower than/ton, international market 800 - $900 per level, also severely affect company product export prices. Material company currently own 23 million acres of tomato plant base, can satisfy the annual about 25 percent of material requirement, other all needs to outsourcing. At the same time the tomato ketchup business ShouZhai links and upstream to downstream customers are not strong bargaining power. Judging from the current price movements, we expect ketchup business results may be below year-on-year.
Our point of view
The company belongs to a typical agricultural companies by product cycle impact, very strong. Beet sugar basic price changes with sugar price fluctuation; Ketchup business mainly by the world prices on material supply and demand influence, MBT Kisumu ,to outsourcing 75%. From this year, we can see the price for this year, the company performance ketchup, even bigger influence may generate profit comprehensive sugar industry this year, as the previous overall performance may also, temporary give company "neutral" investment rating. (hongyuan securities (000562) sujing was however)
again in my hair petting once
Suddenly I awake: this man is not the past that dare proclaimed to the world he loves my boy, I let go of my hands, coldly say: "what matter?"
He helped me tightened collar, again in my hair petting once, mbt shoes usa
naturally said: "let's go!" Natural like we just small don't two days lover. Then he went to my right, one hand pressed my hand, ten to be buckled, as a decade ago.
I feel his wet and warm hand, a kind of unspeakable felling again come out from your hearts flush.
Secretly saw his one eye, his face in low heavy sky sets appears trenchant, more lang lang lines of vigor.
"These are you okay?" He asked.
"As you see, I'm fine." I try to show bright smiling MBT Chapa ,face. -- yes, 10 years ago, my dignity was he ruthlessly trodden down, at least now I have to maintain his own pride.
"I know, you must be very good." He seemed to be comforted and poked fun, "you know? Just you make me feel like a turtle overseas Chinese."
I know his words in there, but the ingredients to meet and convinced of her own purports to satisfy the careful arrangement of that vanity or pride. - I wear that most luxuriant green light leather, to the meeting, I spend most of the savings, handbag, from decorations to is very select.
Out of the airport, where in fewer people, he suddenly stood motionless,MBT Ema ,I was surprised, he suddenly embrace me, with very passionate voice say: "griselda! I didn't expect you to also would see me. Didn't know that I can see you, I didn't expect you to or so beautiful. You know I live for years as a sinner?"
He helped me tightened collar, again in my hair petting once, mbt shoes usa
naturally said: "let's go!" Natural like we just small don't two days lover. Then he went to my right, one hand pressed my hand, ten to be buckled, as a decade ago.
I feel his wet and warm hand, a kind of unspeakable felling again come out from your hearts flush.
Secretly saw his one eye, his face in low heavy sky sets appears trenchant, more lang lang lines of vigor.
"These are you okay?" He asked.
"As you see, I'm fine." I try to show bright smiling MBT Chapa ,face. -- yes, 10 years ago, my dignity was he ruthlessly trodden down, at least now I have to maintain his own pride.
"I know, you must be very good." He seemed to be comforted and poked fun, "you know? Just you make me feel like a turtle overseas Chinese."
I know his words in there, but the ingredients to meet and convinced of her own purports to satisfy the careful arrangement of that vanity or pride. - I wear that most luxuriant green light leather, to the meeting, I spend most of the savings, handbag, from decorations to is very select.
Out of the airport, where in fewer people, he suddenly stood motionless,MBT Ema ,I was surprised, he suddenly embrace me, with very passionate voice say: "griselda! I didn't expect you to also would see me. Didn't know that I can see you, I didn't expect you to or so beautiful. You know I live for years as a sinner?"
small voice and contain points
This time, breath is like the body, lip or finger is, truly arrived at my every part of the body. This effortless, like arrived gravity as easily attract any object. I hear these breath to pronounce my name out the call, MBT Goti he said: "dong dong, dong dong." This voice carries breath, small voice and contain points
Trembling deformation, brought about my heart to vibrate.
My body finally like picking a soft bones in his bosom,mbt shoes usa to fall with that piece of wide soft bed.
There is a tide among around us, I only feel that pervades the oneself to be strong and sturdy plugged up the voice of blood pentium rumble do ring, like a fly suspension the sound of the waterfall. Our bodies like the rapids, from flying turbulent flow to lower-altitude height, the speed of our extraordinary abrupt weightlessness, splash splash. Finally, I uttered a delightful MBT Kipimo clog Shouting...
The first time I suffered this use language to express the happy and hurts.
Trembling deformation, brought about my heart to vibrate.
My body finally like picking a soft bones in his bosom,mbt shoes usa to fall with that piece of wide soft bed.
There is a tide among around us, I only feel that pervades the oneself to be strong and sturdy plugged up the voice of blood pentium rumble do ring, like a fly suspension the sound of the waterfall. Our bodies like the rapids, from flying turbulent flow to lower-altitude height, the speed of our extraordinary abrupt weightlessness, splash splash. Finally, I uttered a delightful MBT Kipimo clog Shouting...
The first time I suffered this use language to express the happy and hurts.
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