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【华创证券】雪莱特公告点评:大股东增持彰显信心,坚定看好充电桩&无人机带来持续增长动力

華創證券 ·  Dec 29, 2016 00:00  · Researches

1. The controlling shareholder's large increase in holdings shows strong confidence in the company and will not reduce its holdings within half a year. The controlling shareholders of the company increased their holdings of the company by a large amount of shares and stated that they and those acting in concert promised not to reduce their shares in the company within the next six months, demonstrating that the company's shareholders have full confidence in the company's future development prospects and full recognition of the company's value. 2. Insist on continuing to be optimistic about the company's charging stations & drone dual-wheel drive, and the performance is worth looking forward to. The charging stations independently developed by Fushun Optoelectronics, a subsidiary of the company, have continuously received large orders totaling 315 million yuan within 3 months. The pace of business expansion is impressive. Most of Fushun Optoelectronics's customer base have the ability to operate charging stations and continue to develop new customer resources in the field of new energy vehicles. The company's charging pile business is expected to usher in a boom in orders. The company's main S6 small selfie drone has been mass-produced, and tens of thousands of units have been shipped in batches. Production capacity and sales are expected to increase further in the future. With the gradual expansion of the company's drone business, the company's future performance is worth looking forward to. 3. Actively promote the development of extension and improve the industrial layout. Judging from history, the company is actively seeking epitaxial development opportunities, focusing on consolidating the company's strategic layout in emerging industries such as core automotive components and smart consumer electronics, and ultimately forming a complete industrial layout in the four major fields of optical technology applications, smart consumer electronics, intelligent high-end manufacturing, and automobile core components. The implementation of the company's extension is worth looking forward to. 4. Profit forecast. Considering the excessive progress of the charging pile business and the advancement of mass production of the drone business, the company is expected to achieve net profit attributable to the parent company of 73 million, 121 million, and 168 million yuan in 16-18, corresponding EPS of 0.20, 0.33, and 0.46 yuan, and corresponding PE of 69X, 42X, and 30X, maintaining a highly recommended rating.

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