The 2011-2013 EPS is expected to be 0.48, 0.69, 0.91 yuan. 4.17 We put them into the mix over the weekend, and the increase reached 10% last week. Currently, we are still optimistic.
The increase in net interest rates caused revenue growth in the first quarter to be 10 percentage points faster than profit growth.
Revenue was achieved in the first quarter of 2011 - 741 million, an increase of 24% over the previous year, and net profit attributable to the parent company was 41.17 million yuan, an increase of 35% over the previous year. The gross profit margin for the first quarter was 24.42%, which is basically the same as 2010, but is 1 percentage point lower than the same period last year. The cost rate for the period was 15.14%, the same as in 2010, but it was 2 percentage points lower than the same period last year, and the net sales interest rate was 5.56, an increase of 0.5 percentage points over the same period last year.
It specializes in marine gears and construction machinery transmissions, and wind power gearboxes are a new growth point.
It specializes in marine gearboxes, construction machinery transmission companies, automobile transmission products, and wind power gearboxes, accounting for 43%, 34%, 3%, and 3% respectively in mid-2010. The fund-raising project will reach production in 2012, reaching production capacity of 1,200 wind power gearboxes after delivery.
Future growth comes from wind power gearboxes and higher net sales margins.
The net sales interest rate is expected to increase by 1 percentage point every year for the next 3 years to reach the industry average. The net profit growth rate brought about by the increase in net sales interest rate will be 12 percentage points per year; wind power gearboxes are expected to contribute more than 13 percentage points to revenue growth in the next 3 years; the contribution of old products to revenue growth in the next three years is 12 percentage points per year, and profit growth is expected to reach 35-40%.
The catalyst for rising stock prices: improved management leading to higher net interest rates, wind power gearbox production capacity reached investment risk: wind power market expansion is being resisted.
