The company is mainly engaged in the research and development, production and sales of polymer composite sunshade materials (sunny fabrics). The company's main products are woven from high-strength polyester or glass fiber evenly coated with polymer composites, with the advantages of energy saving, environmental protection, durability, flame retardant and so on. Widely used in the construction industry and other industrial textiles. The company's main product Sunshine fabric has the advantage of high quality and low price, a large number of products are exported, and the export proportion is up to 70%.
The market potential of building sunshade is huge.
Building shading is still in an emerging market in China, and the market has not been fully developed. with the proposal of "building a conservation-oriented society", intelligent buildings with obvious energy-saving effects will also usher in unprecedented opportunities for development. It is expected that the scale of China's building intelligent market will maintain an annual growth rate of about 25% from 2010 to 2012, which will also lead to the growth of the demand for polymer composite sunshade materials.
The leader of domestic sunshade fabric.
The company continues to integrate chemical industry, monofilament composite, weaving, material heat treatment and other fields of technology, independently developed a large number of polymer composite sunshade materials, with independent core technology and patents, product technology has reached the international advanced level. With the advantages of new entrants, technology and production scale, the company occupies an important position in China, and is currently in a leading position in the domestic industry. The polymer composite industry has high capital and technical barriers, and with the construction of the company's new production capacity, the path of high growth will gradually open in the future.
Profit forecast.
At present, the company has a serious shortage of production capacity, fund-raising projects will alleviate the situation that the company's products are in short supply.
In the face of the strong downstream demand, the company will meet the downstream demand and the development of the enterprise itself through capacity expansion and the development of new product PVDF membrane materials in the next few years. We estimate that the company's EPS in 2010, 2011 and 2012 will be 0.35,0.76 and 1.17yuan respectively. Considering the broad market space and the company's leading position in the industry segment, we give the company a reasonable 35-40 times PE in 2011, corresponding to the inquiry range of 26.6-30.4 yuan.