By China Galaxy Securities Co.Ltd.
- Jun 25, 2009
Event
On June 23, we attended shareholders’ meeting of the company and voted on 2008 annual report and additional issue. Meanwhile, senior leaders answered some shareholders’ questions about management and introduced core business development and prospects.
Minutes
Traditional electrical equipment: power generation and power transmission & transformation equipment --- overseas market and Siemens order transference to support future .......
By TX Investment Consulting Co., Ltd.
- Jun 3, 2009
- Wuxi Little Swan Co., Ltd.
1. The company is one of the few with production technology in fully automatic impeller washing machine, tumble washing machine and agitation-type washing machine globally; it covered ~8.5% of domestic market in 2008, being the number two; after split-off of refrigerator assets, the company is wholly engaged in washing machine and related business.
2. Urban area: .......
By China Galaxy Securities Co.Ltd.
- May 25, 2009
- Fujian Hongbo Printing
Event
Recently, we paid on-site visit to the company and communicated on issues such as current status and future development of bonds securities printing industry, the company’s future development strategy, impact on its operation under current economic situation, etc.
Our Analysis and Estimation
Bonds securities printing industry will maintain rapid growth.
Segment of bonds securities printing industry: steady growth .......
By China Galaxy Securities Co.Ltd.
- May 12, 2009
- Manufacturing
Event:
In April, 1.1568mn vehicles were produced, with month-on-month and year-on-year increase at 5.61% and 17.89% respectively; meanwhile, 1.1531mn vehicles were sold, with month-on-month and year-on-year increase at 3.91% and 24.97%. April production & sales volume broke the record in March and set the new high. In the first four months of 2009, industrial production and .......
By China Galaxy Securities Co.Ltd.
- May 7, 2009
- Manufacturing
Sales volume of mainstream passenger vehicle enterprises in April increased beyond market expectation.
Sales volume statistics in April will strengthen annual growth expectation of passenger vehicle for the whole year of 2009.
Domestic passenger vehicle demand will be increased mainly due to motor consumption release of the second & third tier regions.
We .......
By TX Investment Consulting Co., Ltd.
- May 6, 2009
- Manufacturing
In 2008, listed companies of white electrical appliance reported revenue of Rmb157.46bn (+15.07% yoy, down by 39.4ppt yoy), net profit of Rmb5.246bn (+16.51% yoy, down by 85.9ppt yoy); in Q1 2009, listed companies of white electrical appliance sector reported revenue of Rmb32.73bn (+20.03% yoy, enlarged by 13.62ppt compared with that of Q4 2008), and net .......
By TX Investment Consulting Co., Ltd.
- May 6, 2009
- Manufacturing
Of the comparable listed companies of the component industry, total business turnover in 2008 was Rmb48057mn (-0.6% yoy), total profit was Rmb3464mn (-18.10% yoy), net profit attributable to owners of parent of Rmb2859mn (-11.68% yoy, or -14.1% yoy if nonrecurring gain or loss deducted), and EPS was Rmb0.19 based on weighted average of total equity. .......
By TX Investment Consulting Co., Ltd.
- May 4, 2009
- Manufacturing
Highlights: General director of economic construction department of Ministry of Finance Mr. Zeng Xiao’an recently said in the 4th Expo Central China that, Ministry of Finance and Ministry of Science and Technology co-issued the announcement to encourage the utilization of energy-saving and new energy-typed automobiles in 13 pilot cities under the support of financial support. .......
By China Galaxy Securities Co.Ltd.
- Apr 29, 2009
- CNHTC Jinan Truck Co., Ltd.
Event
The company announced its Q1 2009 report today, according to which, it realized operating revenue of Rmb4.047bn (-14.07% yoy), net profit attributable to shareholders of listed company of Rmb56.2mn (-63.56% yoy) and EPS of Rmb0.13.
Our Analysis and Estimation
Sales volume of Q1 2009 gradually recovers; market share rapidly surges.
Sales expense substantially ascends owing to sales ascension.
2009 .......
By TX Investment Consulting Co., Ltd.
- Apr 27, 2009
- Chongqing Changan Automobile Co., Ltd.
According to its 2008 annual report, the company realized business turnover of Rmb13375mn (-2.53% yoy), net profit attributable to owners of parent of Rmb24.3810mn (-96.34% yoy), and EPS of Rmb0.010.
We forecast its 2009-2010E EPS to be Rmb0.075 and Rmb0.090, representing dynamic P/E ratio at 103.01x and PB at 2.38x based on closing price of Rmb7.74 .......