share_log

【华泰证券】中飞股份:7月1日上市首日定价建议

[Huatai] Zhongfei shares: pricing proposal on the first day of listing on July 1st

華泰證券 ·  Jun 30, 2015 00:00  · Researches

The company's main business is the R & D, production and sales of high-performance aluminum alloy materials and their machined products. The company's manufacturing products can be divided into three categories, namely, high-performance aluminum alloy forgings, extruded parts and machined parts, which have the characteristics of high strength, high toughness and corrosion resistance. can be widely used in nuclear energy, aviation, aerospace, military, electronics, transportation, machinery and equipment manufacturing and other industries. The company is one of the three qualified suppliers of high-performance aluminum alloy materials for nuclear fuel processing and equipment in China. At present, the company's products are mainly used in the nuclear fuel production equipment manufacturing industry, that is, in accordance with the varieties, specifications and technical standards required by the industry, for nuclear fuel processing and equipment to provide high-performance (high strength, high toughness, corrosion resistance) aluminum alloy materials and machined parts.

Since its establishment, the company has paid close attention to the national policy orientation in the field of aluminum alloy materials and the development direction of aluminum alloy materials industry, and determined that the development of the company is to develop and produce high-performance aluminum alloy materials. in order to meet the development needs of nuclear energy, aerospace, national defense and other key areas of support. Therefore, the company actively does not contact and contact the research institutes of CNNC to track the R & D and production of high-performance aluminum alloy materials for nuclear fuel processing and equipment. With strong technical research and development capability, the company has organized and implemented the research and development of high-performance aluminum alloy materials for pre-use equipment since 2007, and became a qualified supplier of high-performance aluminum alloy materials for pre-use equipment and equipment in 2008. After that, the company continued to carry out the research and development of new specification materials, and passed the evaluation of China Nuclear Machinery, and became a qualified supplier of new specification materials for equipment. At present, the company has mastered the production technology of all kinds of high-performance aluminum alloy materials for equipment.

It is estimated that the corresponding diluted EPS from 2015 to 2016 is 0.88 pounds 0.98 yuan respectively. The fund-raising project will be used to build a number of production lines, improve the R & D strength of the technology center, and create the necessary environment and conditions for the company to carry out technological development and continuous innovation. Through the implementation of the core technology, the company will seize the favorable opportunity for the national focus on the development of nuclear power, rely on the implementation of this fund-raising project, greatly increase the company's production capacity and further increase its market share, and promote the rapid growth of the company's business income and profits in the future. Combined with the success rate, stock fundamentals, valuation and the current market sentiment considerations, we expect the IPO pricing range of 21.07-25.29 yuan on the first day of listing. It is recommended that successful investors continue to hold.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment