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【上海证券】尖峰集团2011年中报点评:水泥业务利润大幅增长

[Shanghai Securities] comment on 2011 report of Jianfeng Group: profits of cement business have increased significantly

上海證券 ·  Aug 19, 2011 00:00  · Researches

Comments on matters:

The profit of cement business has increased significantly.

In terms of business, the main reason for the sharp increase in the company's performance is that the strict control policy of the cement industry has achieved initial results in recent years, the relationship between supply and demand in the market has improved, and the sales price of the company's cement products has increased greatly compared with the same period last year, resulting in a substantial increase in profits in the cement business. The company's cement business achieved revenue of 320 million yuan in the first half of the year, an increase of 61.28% over the same period last year, while the operating profit margin reached 33.26%, an increase of 24.04% over the same period last year. At the same time, the company's participation in the southern peak and southern cement dividends increased, the two together accounted for 45.50% of the profits. Cement prices are expected to remain high in the second half of the year, and the company's cement business has a bright future.

The growth rate of income in the pharmaceutical industry is accelerating.

Pharmaceutical industry products are mainly anti-infective drugs, cefotaxime for injection is the company's largest sales products, other larger varieties are: paroxetine hydrochloride tablets, listeride, sodium hyaluronate eye drops, penciclovir for injection. The company's pharmaceutical industry products are mainly new drugs, but the company does not have its own special sales team, and the sales model is mainly based on floor price agents, resulting in slow growth of sales revenue over the years (

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