Position:Industry News

Couplet weighs in division: Capital construction investment accelerates most be

From;    Author:Stand originally
Lifting appliance and concrete machinery are the two big pillar of the company: 87.13% what lifting appliance and concrete machinery take company business income, 87.27% of gross profit, it is the two big pillar of company profit. Grow to assure the stability of our country economy, wide finance policy will spur the rapid growth that capital construction invests, and lifting appliance and concrete machinery are infrastructure construction place must mechanical equipment, suffer its to pull move, lifting appliance and concrete machinery will be become most mix first the directest person that be benefited.

Lifting appliance will still continue tall boom state: Those who suffer crawler crane and exit is double pull move, lifting appliance still continued in 8 years tall boom state. Be enslaved to be enslaved to of company lifting appliance is produced can bottleneck, ability of garden of garden of industry of pond of 8 years of springs, fill brook industry changes finish will make the company is produced can achieve a breakthrough, additionally pedrail as string of 1 the construction of base will develop reserve for company future.

Concrete machinery adds fast perch rapid fall after a rise, but future develops a space still capacious: Sales volume of predicting concrete machinery is added fast be in about 20% the left and right sides, add fast compared to the same period considerably fall after a rise. Go out according to commodity concrete grows and changing we compute requirement: Commodity concrete increment can support concrete pump growth to be in 10% the left and right sides, and change demand also will be propped up 15% the left and right sides. Because this did not come,the sales volume with concrete pump conservative industry is added fast will be in 25% the left and right sides.

Investment proposal: Combine DCF and PE, we think reasonable price interval is company stock 21.6 yuan - 28.37 yuan. Be based on the hypothesis of wide finance policy that maintains economic growth, we think the company will be benefited adequately. Because this gives a company " add hold " investment grade.

Risk clew: The raw material such as rolled steel and entrance function component rise in price the cost that cause rises considerably, the integrated situation that annex buys a company. (origin: Bohai Sea negotiable securities)



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