In 2008, the company realized business turnover of Rmb1180mn (+14.65% yoy), net profit attributable to parent of Rmb36.29mn (-35.17% yoy), and EPS of Rmb0.21. Besides, the company distributed pretax cash dividend of Rmb1.70 for every ten shares.
The company’s EPS in 2009-2011E is forecasted to be Rmb0.21, Rmb0.21 and Rmb0.23 respectively, representing dynamic P/E ratio to be 42x, 40x and 37x separately. “Neutral” rating is hereby given.