Event
The company issued announcement on assets acquisition & related transaction, relevant traders including Push Group, Global Group Co., Ltd and Pushmold Co., Ltd which were under control of Wulinagye Yibin Co., Ltd.
Investment Suggestion
We predict that the company’s EPS in 2009-2010E to be Rmb0.70 and Rmb0.81, representing P/E ratio at 24x and 21x, among which Rmb0.13 and Rmb0.1 are added to EPS of 2009 and 2010 due to balance adjustment of import & export enterprises.