Main points of investment:
The establishment of an intelligent industrial park is an important measure for Thiel heavy Industries to achieve transformation. The company plans to establish Maanshan Taier Intelligent Industry Park in cooperation with Shanghai Xitai Investment Co., Ltd. The registered capital of the intelligent industrial park is 30 million yuan, of which Thiel heavy Industries contributed 12 million yuan in cash, accounting for 40% of the registered capital of the intelligent industrial park, while Shanghai Xitai contributed 18 million yuan in cash, accounting for 60% of the registered capital of the intelligent industrial park. Shanghai Xitai is jointly established by Anhui Xintai Investment and Anhui Taier Investment. Shanghai Xitai and Tyre heavy Industry are controlled by Tai Zhengbiao, the same actual controller. The intelligent industrial park focuses on the two areas of manufacturing intelligence and special service intelligence, including industrial robots, industrial software and communications, 3D printing, family services and public service robots. To establish a "five-in-one" working mechanism of R & D incubation, high-end manufacturing, warehousing and logistics, business exhibition and life services, to form a complete intelligent industrial chain and create a domestic first-class intelligent industrial cluster.
The transformation of the company is firm, and the space of imagination is opened. The company's original main business couplings are under great pressure from the iron and steel industry, the company put forward the idea of transformation in time, through more than a year of time layout, the direction of the company's transformation has been very clear, the establishment of the intelligent industrial park is to open the imagination space of the company's transformation. In the future, the company will comply with the development trend of "made in China 2025" and intelligence and information, around the enterprise mission of "driving the world and building the future" and the needs of the company's strategic development planning, through endogenous growth + epitaxial mergers and acquisitions, vigorously develop intelligent industry. At the same time, the company also actively participated in the M & A fund, including the Aerospace Zijin military-civilian Integration Industry Investment Fund, which was jointly funded by partners such as Nanjing Chenguang. The controlling shareholder of Nanjing Chenguang is Aerospace Science and Industry Asset Management Co., Ltd. the actual controller is China Aerospace Science and Industry Corporation. The main areas of investment are aerospace defense, high-end equipment and information technology.
At present, the stock price is near the stock price held by employees, which has a theoretical margin of safety. In the first half of 2015, the company implemented the employee stock ownership plan. In June 2015, the employee stock ownership plan completed the stock purchase with an average purchase price of 19.23 yuan per share. The stock purchased under the plan has a lock-up period from June 3, 2015 to June 2, 2016.
The main business is expected to improve, maintain the buy rating and maintain the profit forecast. The main reason for the company's growth in 2015 is that the company's operating income and subsidy income are expected to increase. We expect the company's EPS for 2015-2017 to be 0.07max 0.1max 0.2 yuan, corresponding dynamic PE for 286XMague 200X and 100X, taking into account the company's rational layout for more than a year, the firm pace of the transition to intelligence, the maintenance of buy ratings, and the maintenance of profit forecasts.