subject: Cnac Sanxin: Results In Line With Expectations, The Maintenance Of Overweight Rating [print this page] Air Sanxin business growth in line with expectations. In the first three quarter of 1.092 billion yuan sales income, up 8.84% over the same period the previous year, attributable to shareholders of listed companies net profit of 31.91 million yuan, up 16.99 percent. The earnings per share 0
.16 Yuan. Third quarter sales revenue of 405 million yuan, up 18.47%, 7.47 million yuan net profit attributable to listed companies, up 15.21%. Performance in line with expectations.
Daya Bay Low-E film (low-E) glass production line has been completed energy production, solar glass project Bengbu orderly conduct. In the first half, an annual output of 1.4 million square meters of Daya Bay, Low-E (LOW-E) energy-saving glass production line has been completed and test production, current production and sales, is expected to start producing benefits in 2010. Bengbu 250 tons on the amount of oxy-fuel melting Super white solar glass project construction is nearing completion, the ignition may be in December, is expected to start producing benefits in 2010.
Subsidiary "Air Hainan Special Glass" buy "Fuyao Hainan" matters related assets have been successfully completed: Hainan Hainan Air Fuyao special glass with company signed in April 2009, "Asset Transfer Agreement", target asset transfer a total amount of 45,000 million. August 25, 2009, Hainan Air special glass will target the rest of the assets of the total price of RMB 18,000 million total paid to Fuyao Hainan company, thus, special glass Hainan Air to buy targeted assets to pay the full amount has been completed. Prior to that, target the assets of the land and property have all been transfer to the Air Hainan special glass company name, the purchase of assets, matters have been successfully completed.
Into the field of thin film solar cell glass substrate, the company will become both a thin film photovoltaic cells and battery-glass production enterprise. The company on Sept. 27, 2009 announcement, Hainan special glass on the acquisition of aircraft, "Fuyao Hainan," the former No. 2 production line upgrading program will be adjusted, decided to introduce self-financing the company's TCO American PPG technology and a transparent conductive film Ultra-low iron content glass production technology of white, the original production of ordinary plate glass, upgraded for the production of ultra-white film with a transparent conductive thin film solar cells TCO special glass products. This will improve our thin film solar glass substrates rely heavily on imports of long-term situation, but also marks the company's investment in the construction of photovoltaic solar cells Bengbu glass substrate, the environmental protection, thin film solar cell glass business expanded to the field. At present, the transformation and upgrading issues in an orderly manner in among the ignition end of the year is expected to produce 10 and 11 years of contribution to the performance.
Maintain "overweight" rating. We forecast the company to achieve EPS in 2009-2010 were 0.29,0.54 yuan, the next two years to maintain a compound growth rate of 30%. We are optimistic about the company LOW-E glass and photovoltaic glass in the field of development prospects, maintain "overweight" rating
by: gaga
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