High capacity utilization
Since 2010, the company's rotor production line has been relatively fully productive. In 2010, the industry developed rapidly, and the company's self-manufacturing capacity could not meet the market demand. In 2010, some rotors still need to be imported. Recently, the company will once again increase the rotor capacity, which can basically meet the company's recent sales needs.
The multi-growth structure is becoming more and more mature In terms of products, the pattern of refrigeration products, air products and vacuum pump products has been formed, and the tone of reliance on the downstream central air-conditioning market and diversified growth has been laid. The air Compressor revenue was about 237 million yuan, an increase of 92%, and the proportion of revenue also increased to 34%. Vacuum pump products have been put into the market and earned more than 10 million yuan. With the trend of localization of products, the gross profit margin is expected to gradually increase with the increase of localization level. More importantly, it is gradually obtained by repairing other famous brands. Market recognition.
Comprehensively benefit from the "Twelfth Five-Year Plan"
During the “Twelfth Five-Year Plan†period, the government plans to reduce energy consumption per unit of GDP and carbon dioxide emissions by 16% and 17%, respectively. Some research institutes have indicated that the proportion of technical energy conservation will remain above 60%. The company's screw refrigeration compressors and refrigeration compressor products are in line with the trend of energy conservation, energy-saving factors will make the company's products in the market share a higher proportion.
On the other hand, the refrigeration compressor products will benefit from the “Agricultural Products (18.20, -0.50, -2.67%) Cold Chain Logistics Development Plan†promulgated in 2010, and the central air-conditioning compressor will also benefit from the large-scale urbanization process in China. The demand brought about by the construction of the facility. Air compressors and vacuum pumps are widely used in various fields of industrial production. Under the background of industrial upgrading and substitution of imports during the 12th Five-Year Plan period, rapid growth is expected.
Long-term rapid growth can be expected, maintain the overweight rating
In addition to refrigeration compressors and refrigeration compressor products, the company is guided by the industry's future development direction and policy guidance, and has developed more potential markets such as air compressors and vacuum pumps. Focusing on the screw compression technology, we focus on the application fields that have not been over-competitive, and adhere to the compressor link in the industrial chain without developing downstream. Step by step and develop the blue ocean's development strategy to ensure its long-term stable and rapid growth. We have improved our performance forecast to EPS 1.04 in 2011 and RMB 1.38 in 2012. Maintain an overweight rating with a 6-month target price of $35.
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Generator Sets,Diesel Generator Co., Ltd. , http://www.generator-china.com