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【中信建投证券】维维股份2010年报点评:多元发展,白酒当先

中信建投證券 ·  Apr 1, 2011 00:00  · Researches

The company's main revenue in 2010 was 4.763 billion yuan, up 67.75% year on year; total profit was 2,517 billion yuan, down 31.82% year on year; and net profit attributable to parent company owners was 150 million yuan, down 31.67% year on year. EPS was 0.09 yuan, lower than expected. Distribution plan: 0.5 yuan for every 10 shares. The company's main business is in a state of marginal profit, and net profit is greatly affected by investment income, so profit forecasting is somewhat difficult. We initially estimate earnings of 0.11 yuan and 0.14 yuan per share for 2011 and 2012, corresponding to price-earnings ratios of 53 times and 43 times, so there is no rating yet.

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