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In the Torch High-tech: to enter the Ni-MH battery
2009-9-24 10:57:07 from：lipeng
In the torch high-tech (600,872) has real estate project partners announcement Investment Management Co., Ltd. Guangdong 'middle due to their own liquidity reasons, in order to 'create part of the company held shares in the convergence of satisfaction on time and funding as well as the inability to give up some funding and to cope with the torch high-tech break-up fee , while the company held 10.08% stake in the exchange transfer to third parties.
Mean companies can not timely funding and the transfer of shares held by the Department of Company's own cash-flow problems due to the current light commercial and residential Zhongshan Station, the overall planning and development is proceeding smoothly and is expected to be achieved by 2010, sales of the first phase of settlement. The change in the shareholding of approximately 26.55 million yuan for the company's operating income, thickened in 2009 is about 0.03 yuan per share. At the same time after the change of equity, the company together hold 79.16 percent stake in the convergence of creating more than change the previous increase of 6.16%, real estate equity-settled area increased by 3.3% from 1767 acres to 1825 acres.
Equity-settled area of increase will be slightly raise the real estate business for the company's profit contribution (in 2010 earnings per share 0.01 yuan), the long term thickening of the real estate business NAV0.18 yuan per share.
The Ministry of Industry and Information Technology has issued the new energy vehicles production enterprises and product access management rules, according to the rules annexed to the new energy vehicle technology phasing table, the use of nickel-hydrogen battery hybrid vehicle technology in the mature stage. This indicates that the current nickel-metal hydride battery technology as the hybrid electric vehicle development has been the mainstream of national accreditation, is about to enter a large-scale industrialization phase. This confirms our previous judgments --- Ni-MH battery is a hybrid electric vehicle industry, the current mainstream choice, the company as a pioneer in the field, first-mover advantage is very clear that already has industrial capabilities,
Will significantly benefit from the promotion of new energy vehicles.
We are the company in 2009, fore'cast 2010 earnings per share respectively, from 0.03 yuan, 0.97 yuan raised to 0.133 yuan, 0.98 yuan, in 2009 and 2010 PE, respectively 86 times and 12 times, Reaffirming the Recommended rating, a 12-month target price of 18 yuan.
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