The company specializes in R & D and production of industrial automation instruments. The company's main products are electric actuators, flow meters, signal conditioning instruments, control valves and other instruments.
Benefits from the upgrading of the manufacturing industry, the field of automation has a broad market space. The automatic equipment industry is a strategic industry that provides technical equipment for various industries of the national economy, and related instruments are an important carrier for realizing automation. Affected by the rapid development of China's national economy and fixed assets investment in the secondary industry, China's industrial automation instrument industry is growing rapidly, and the market capacity of the industry is constantly expanding. At present, the Chinese market has become the focus of competition among domestic and foreign enterprises. From 2006 to August 2009, the annual sales of the domestic instrument industry accounted for 26.24% of the global annual sales, with an average annual compound growth rate of 23.6%.
The company has mastered the core technology of the main products and has the ability to further develop. The company continues to develop and grow through the digestion and absorption of imported technology and independent innovation of new technology on the basis of product distribution and technology introduction with foreign manufacturers. The company has established IPD (integrated product research and development) R & D management system, has a R & D team of more than 70 people, and establishes a product laboratory, which will help to quickly absorb and digest the technology imported from abroad, and promote independent R & D and innovation. The company and its subsidiaries have a total of 14 patents, including 5 utility model patents and 9 design patents, and 6 patents are in the application or examination stage, while 43 non-patent technologies are owned.
The company has outstanding profitability. The company's comprehensive gross profit margin rose from 40.05% in 2007 to 49.57% in 2009, and the company's net profit increased from 17.4157 million yuan in 2007 to 26.4017 million yuan in 2009, with a compound annual growth rate of 23.12%. The net profit margin of sales increased from 15.56% in 2006 to 19.37% in 2009. The turnover rate of accounts receivable of the company is basically maintained at the level of more than 6 times a year, and the turnover rate of accounts receivable is fast.
The company's fund-raising projects effectively enhance the company's production capacity. The company's fund-raising mainly invests in four projects, which will enhance the company's technical level and independent innovation capability, increase product range and product range, broaden product application fields, and deepen cooperation with foreign partners; enhance the company's status in the future cooperation process; improve the company's product quality and reduce production costs.
It is suggested that the inquiry range. It is estimated that the company's earnings per share in 2010, 2011 and 2012 are 0.56 yuan, 0.71 yuan and 0.89 yuan, the reasonable valuation of the company is 35-40 times, the reasonable value is 19.60 yuan-22.40 yuan, and the reasonable inquiry range is 15.68 yuan-17.92 yuan.