Event
Recently, many domestic airports begin the construction of blank pipe automation standby system, and blank pipe automation market demand further enlarges.
Our Analysis and Estimation
Recently, many domestic airports begin to design and bid for blank pipe automation standby system; although it is only a design bid with not big sum, it shows that standby system construction will come soon. We believe that construction of domestic blank pipe automation standby system is already begun and blank pipe demand scale will further enlarge.
Investment Suggestion
We predict 2010 payoff to see 101% growth, reaching up to Rmb6.7mn; EPS to be Rmb1.07, 36x times of estimation. Investors are suggested to concern about long-term high growth based on fundamentals; keeping an eye on long-term investment, satisfactory return will be achieved in coming 2-3 years.
“Recommended” rating is hereby maintained.