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【东北证券】泰山石油08三季报点评

東北證券 ·  Oct 22, 2008 00:00  · Researches

From January to September 2008, the company achieved operating income of 2.187 billion yuan and net profit of 145 million yuan, an increase of 10.07% and 53.84%, respectively, and earnings per share of 0.30 yuan; however, from July to September, it only achieved net profit of 29.17 million yuan, earnings per share of 0.06 yuan, and a sudden decline in performance; the gross margin for the third quarter was only 11%, down 3 percentage points from the first half of the year. This is the main reason for the decline in performance, but the company did not explain the specific reason; the company expects net profit to increase by 100-150% in 2008, with earnings per share Between 0.30 yuan and 0.38 yuan; there are large variables based on the company's oil import policy, and the impact on the company's performance is huge, making the company's performance unpredictable. Therefore, the investment rating on the company's stock was lowered to “neutral.”

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