By TX Investment Consulting Co., Ltd.
- Jun 28, 2011
The company’s development strategy is clear and national layout has been generally completed. Its current business includes LVP and non-LVP. As planned in its development strategy, the company puts same emphasis on these two parts, and will create a whole industrial chain between LVP and non-LVP. Besides, the company accelerates its expansion after going public. .......
By TX Investment Consulting Co., Ltd.
- Mar 10, 2011
- Weichai Power Co., Ltd.
Powertrain technology is the core to enhance company product profitability and comprehensive strength. From 2010 to 2012, overall diluted EPS is Rmb3.97, Rmb4.56 and Rmb5.5, which is figured out based on closing price of Rmb59.39 on March 3; dynamic PE should be 15x, 13x and 11x respectively, thus “BUY” rating is maintained. .......
By TX Investment Consulting Co., Ltd.
- Feb 23, 2011
- Shanxi Lu'an Environmental Energy Development Co., Ltd.
When the company was listed in 2006, the group promised to inject all coal assets into it in the coming 5 to 10 years (2011-2016) to make it the only coal company of the group. We predict P/E ratio to be 23x, target price Rmb74 in 6 months and upgrade the rating to “Buy”. .......
By TX Investment Consulting Co., Ltd.
- Feb 23, 2011
Event:
On February 14, 2011, we made the second on-site research on Shandong Molong and communicated deeply with the management team about hot issues such as capacity expansion and product sales concerned by investors. Also, we visited the new production line of the fund raising project. .......
By TX Investment Consulting Co., Ltd.
- Jun 15, 2009
- Jiangxi Black Cat Carbon Black Co., Ltd.
The company is the largest manufacturer of carbon black. In 2008, its total capacity reported 0.3mn; since 2002, its capacity has been enlarged to 5 times the amount of 2002, with market share increment at 6% (from 5% to 11%), being top of the whole industry.
We predict its 2009-2010E EPS to be Rmb0.29 and .......
By TX Investment Consulting Co., Ltd.
- Jun 10, 2009
- PetroChina Company Limited
As shown by latest statistics, rally of quantity and price in petrochemical industry is quite obvious. Being domestic bellwether in petroleum industry, the company takes its resource advantages in upstream market and benefits from recovery in downstream market; profit is expected to see evident upturn in Q2 and Q3 2009.
We predict the company’s 2009-2010E EPS .......
By TX Investment Consulting Co., Ltd.
- May 25, 2009
- Petrochemicals
Detail of petrochemical industry revival plan is unveiled; most have been digested by the market.
PetroChina plans to acquire 45.5% equity of Singapore Petroleum.
On May 24, 2009, PetroChina announced to acquire 45.5% equity of Singapore Petroleum by cash.
Price of cotton pulp will continue surging; investors are suggested paying attention to manufactures of viscose staple .......
By TX Investment Consulting Co., Ltd.
- May 13, 2009
- Petrochemicals
Expectation of product oil price upgrade tends to be strengthened as crude oil price keeps surging.
Qinghai Salt Lake Potash (000792) lowers ex-factory price of potash fertilizer for quick returns.
Price of nitrogen phosphorus fertilizer might slide further.
Viscose price might keep surging.
Investment suggestion: Investment style tends to be different recently, thus investors are .......
By China Galaxy Securities Co.Ltd.
- May 12, 2009
- Petrochemicals
Event
National Development and Reform Committee recently released Trail Measures on Petroleum Price Management.
Our Analysis and Estimation
We consider this is a transitional policy.
It will continue to favor the petroleum refining industry.
Petroleum price is unlikely to be above USD130 per barrel.
It is most possible that petroleum price will run below USD80 per .......
By TX Investment Consulting Co., Ltd.
- May 6, 2009
- Petrochemicals
In 2008, total business turnover of daily consumer goods industry was Rmb9398mn (+4.44% yoy), and net profit attributable to parent was Rmb324mn (-67.92% yoy). Thereinto, Liuzhou Liangmianzhen (600249) suffered great fluctuation of investment return; in 2007, its investment return was Rmb887mn, whereas in 2008 it saw substantial decrease of over 90% and only reported Rmb68mn. .......