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The Company Achieved A Net Profit Of 773 Million Yuan In The First Half Of The First Half Of The Year

2010/9/27 10:27:00 69

Golden Wind Technology 2010 Company

Golden wind technology

On Sunday night, the Shenzhen Stock Exchange issued a H-share prospectus to issue 395 million shares of H-shares, with a maximum stock price of HK $17.98, with a maximum financing of HK $7 billion 100 million.

The prospectus shows the launch of Jinfeng technology worldwide.

The amount is 395294000 shares of H-shares (depending on the exercise of excess allotment rights), and the maximum amount of financing is HK $7107386120.

Among them, the number of public offering shares in Hongkong is 39529600 shares of H-shares (which can be adjusted), and the number of international offering shares is 355764400 shares of H-shares (subject to adjustment and depending on the exercise of excess allotment rights).

In addition, the highest offer price is HK $17.98 per share, compared with the closing price of A shares last trading day (September 21st), 19.79 yuan (HK $22.89), which is over 20%.

The semi annual report released by Jinfeng technology shows that the company achieved net profit of 773 million yuan in the first half of 2010, an increase of 44.35% over the same period last year.

According to the China Daily, the company achieved 6 billion 305 million yuan in revenue in the first half of this year.

Year-on-year growth of 65.57%, earnings per share of 0.3450 yuan, an increase of 44.35% over the same period last year.

Haitong Securities Research Report believes that the current market for wind power companies gave a lower valuation, mainly that the wind power industry after years of explosive growth, the future trend is growth rate decline.

Haitong Securities

It is estimated that the company's earnings per share in the 2010-2012 years are 1.08 yuan, 1.43 yuan and 1.97 yuan, with an average annual growth rate of around 35%, and the corresponding 2010 earnings level is 16.86 times.

The corresponding reasonable valuation of the company in 2010 should be about 25 times, corresponding target price is 27 yuan, and maintain the investment rating of the company's "buy".