Ping An Securities: Ye International Zhang Wei 2010-06-09 Rating category strongly recommended EPS forecast 2010 2011 2012 growth 10-11 years 11-12 rating change for the first time 100% 38.89% Report date yesterday closing price: 60.01 target price : 75 Upside: 24.98% Value Rating is given a “strongly recommended rating†for the first time with a target price of $75. The company's coverage area has achieved strategic horizontal expansion. The board of directors passed the two proposals of “Proposal on Establishing a wholly-owned Subsidiary and Foreign Investment†and “Proposal on Establishing a Joint Venture Company and Foreign Investmentâ€. The company used the over-raised funds to invest RMB 60 million to establish a wholly-owned Shenzhen subsidiary to implement the LCD module metal backplane project; the company also invested RMB 80 million to establish a joint venture with Taiwanese natural person Shen Yuqiang.
The company's share of R&D, production and sales of LEDs and related products is 30%. The company's main business is sheet metal processing and casting for world-class manufacturers in the fields of communication, new energy and machine tools.
This investment has successfully achieved the goal of entering the precision sheet metal processing market of the home appliance industry, increasing the coverage area of ​​the company downstream and enhancing the company's sustainable development capability.
The downstream industry demand for investment projects has bright prospects. The downstream industries of the company's investment projects are Led Lighting, LED LCD TV backlights and supporting LCD module metal backplanes. LCD TVs are growing rapidly in the stimulation of home appliance consumption policies and TV consumption upgrades. LED View Details
The company's share of R&D, production and sales of LEDs and related products is 30%. The company's main business is sheet metal processing and casting for world-class manufacturers in the fields of communication, new energy and machine tools.
This investment has successfully achieved the goal of entering the precision sheet metal processing market of the home appliance industry, increasing the coverage area of ​​the company downstream and enhancing the company's sustainable development capability.
The downstream industry demand for investment projects has bright prospects. The downstream industries of the company's investment projects are Led Lighting, LED LCD TV backlights and supporting LCD module metal backplanes. LCD TVs are growing rapidly in the stimulation of home appliance consumption policies and TV consumption upgrades. LED View Details
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