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【安信证券】温州宏丰:估值分析报告

[Anxin Securities] Wenzhou Hongfeng: valuation Analysis report

安信證券 ·  Jan 9, 2012 00:00  · Researches

During the reporting period, the company's business scale showed a trend of continuous growth, with a compound growth rate of 63.93% from 2008 to 2010, and an increase of 121.70% from January to June 2011 compared with the same period in 2010. The increase in operating income was mainly due to the increase in income from major customers.

The company's main business is the research, development, production and sales of electrical contact functional composites, components and components. the main products include particle and fiber reinforced electrical contact functional composites and components, layered composite electrical contact functional composites and components, and integrated electrical contact components.

The growth of the company's main business revenue during the reporting period is mainly due to the increase in product sales, and the increase in product prices is also an important factor leading to the growth of main business revenue. Compared with 2008, 2010 compared with 2009, January-June 2011 compared with January-June 2010, the growth proportion of main business income caused by the increase in sales volume in 2009 was 62.59%, 67.94% and 48.32% respectively, and the growth proportion of main business income caused by the increase in selling prices was 37.41%, 32.06% and 51.68%, respectively.

During the reporting period, the sales revenue of the company's major products increased significantly compared with the previous period, with the exception of particle and fiber reinforced electrical contact functional composites and components in 2009.

During the reporting period, the company's product sales were concentrated in East China, mainly to Zhengtai Electric, Delixi Electric and other customers.

The translation is provided by third-party software.


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