Category: Research institutions: China Merchants Securities (600999) Co., Ltd. Researcher: Zhang Liangyong Date: 20130408
Electronic cigarette lithium-ion battery orders full lock lithium ion battery business of high growth. Entering 13 years, the company electronic cigarette lithium-ion battery business continues strong for 12 years since the third quarter of the current orders in hand full, or even a case of getting goods to downstream customers waiting in line, the company long-term benefit from the industry segments The logic is gradually rising verified. In the short term, the company can lock the company's annual orders full electronic cigarette lithium ion battery lithium primary battery of high growth and stable growth, smart era no ceiling. Company entrenched lithium primary battery industry, the rapid spread of smart meters provide the first wave of growth opportunities for the future of automotive electronics and high-temperature applications such as special batteries successor smart meter industry is expected to provide a second wave of growth opportunities. We expect lithium primary battery business will maintain growth of about 20 set up a subsidiary to focus Compass related applications, military and business growth worth the wait. Comparative international counterparts military income share of around 40, the company military business applications grow larger space. The company will be nurtured in military operations, the establishment of a subsidiary million-dimensional electron focusing Beidou-related business applications, and is expected to expand its product line from the battery to the communication terminal as a new growth point. Compass business for 13 years is expected to contribute less, but in the long run will become an important strategic growth. Combined with the company's strategic development goals, future military plans to gradually increase the proportion of revenues 20 growth program electric vehicle like car assembly has been completed, trial operation by the end of the outcome. Another way in the field of electric vehicles, and select increase the program as the main direction of electric vehicles, is expected to find a balance between the performance and the lithium battery industry needs contradictions in. The company has assembled three kind of car, the first half of 2013 is expected to begin trial operation in Huizhou region, the results are expected by the end of the outcome. From a technical development trend, added the program electric cars are electric cars universal process more reasonable transitional program from the company's strategic perspective, open up growth program electric cars to run from the production chain, the company is expected to application experience accumulated power battery industry, technology and experience accumulated for subsequent development. From the local demand, Huizhou City is committed to building the electronics, automotive, petrochemical combination of vaporization advantages of industrial clusters, will provide strong support for automotive test run the company's new energy. According to market research, there is now need to replace transit buses Huizhou region about 200 units. If you try to run the company for 13 years to achieve the desired effect, for 14 years is expected to get bulk orders and profit contribution maintain highly recommended A investment rating. We maintain our leading companies will benefit from the rise of the downstream industry segments logical judgment, the company stand on top of the wave of industry segments highlighting the rapid rise of the value of their investment. 13 years to maintain earnings per share 0.67 yuan, 0.87 yuan for 14 years, 15-year forecast of 1.05 yuan, giving 13 years 27 times PE, target price of 18.09 yuan, to maintain highly recommended A investment rating. Due to the large companies early gains, the recent share price correction, but we think the company's growth is gradually able to verify the logic, and the company 13 years of strong performance of high-growth uncertainty, the proposed bargain hunting more rational strategy is to do Catcher in the Rye persons - Catcher Catcher and wait for the harvest Risk Warning:! decline electronic cigarette market demands, Zhongkai Two lithium-ion battery project is not up to expectations, the size of non-lifting of the ban. 12345678910111213 Next >>
Tuesday, January 7, 2014
China is expected to increase the share of lithium batteries lithium plate attached to shares look outbreak
China is expected to increase the share of lithium batteries lithium plate attached to shares look outbreak
Wei Li billion (300014): Catcher Catcher and wait for the harvest
Category: Research institutions: China Merchants Securities (600999) Co., Ltd. Researcher: Zhang Liangyong Date: 20130408
Electronic cigarette lithium-ion battery orders full lock lithium ion battery business of high growth. Entering 13 years, the company electronic cigarette lithium-ion battery business continues strong for 12 years since the third quarter of the current orders in hand full, or even a case of getting goods to downstream customers waiting in line, the company long-term benefit from the industry segments The logic is gradually rising verified. In the short term, the company can lock the company's annual orders full electronic cigarette lithium ion battery lithium primary battery of high growth and stable growth, smart era no ceiling. Company entrenched lithium primary battery industry, the rapid spread of smart meters provide the first wave of growth opportunities for the future of automotive electronics and high-temperature applications such as special batteries successor smart meter industry is expected to provide a second wave of growth opportunities. We expect lithium primary battery business will maintain growth of about 20 set up a subsidiary to focus Compass related applications, military and business growth worth the wait. Comparative international counterparts military income share of around 40, the company military business applications grow larger space. The company will be nurtured in military operations, the establishment of a subsidiary million-dimensional electron focusing Beidou-related business applications, and is expected to expand its product line from the battery to the communication terminal as a new growth point. Compass business for 13 years is expected to contribute less, but in the long run will become an important strategic growth. Combined with the company's strategic development goals, future military plans to gradually increase the proportion of revenues 20 growth program electric vehicle like car assembly has been completed, trial operation by the end of the outcome. Another way in the field of electric vehicles, and select increase the program as the main direction of electric vehicles, is expected to find a balance between the performance and the lithium battery industry needs contradictions in. The company has assembled three kind of car, the first half of 2013 is expected to begin trial operation in Huizhou region, the results are expected by the end of the outcome. From a technical development trend, added the program electric cars are electric cars universal process more reasonable transitional program from the company's strategic perspective, open up growth program electric cars to run from the production chain, the company is expected to application experience accumulated power battery industry, technology and experience accumulated for subsequent development. From the local demand, Huizhou City is committed to building the electronics, automotive, petrochemical combination of vaporization advantages of industrial clusters, will provide strong support for automotive test run the company's new energy. According to market research, there is now need to replace transit buses Huizhou region about 200 units. If you try to run the company for 13 years to achieve the desired effect, for 14 years is expected to get bulk orders and profit contribution maintain highly recommended A investment rating. We maintain our leading companies will benefit from the rise of the downstream industry segments logical judgment, the company stand on top of the wave of industry segments highlighting the rapid rise of the value of their investment. 13 years to maintain earnings per share 0.67 yuan, 0.87 yuan for 14 years, 15-year forecast of 1.05 yuan, giving 13 years 27 times PE, target price of 18.09 yuan, to maintain highly recommended A investment rating. Due to the large companies early gains, the recent share price correction, but we think the company's growth is gradually able to verify the logic, and the company 13 years of strong performance of high-growth uncertainty, the proposed bargain hunting more rational strategy is to do Catcher in the Rye persons - Catcher Catcher and wait for the harvest Risk Warning:! decline electronic cigarette market demands, Zhongkai Two lithium-ion battery project is not up to expectations, the size of non-lifting of the ban. 12345678910111213 Next >>
Category: Research institutions: China Merchants Securities (600999) Co., Ltd. Researcher: Zhang Liangyong Date: 20130408
Electronic cigarette lithium-ion battery orders full lock lithium ion battery business of high growth. Entering 13 years, the company electronic cigarette lithium-ion battery business continues strong for 12 years since the third quarter of the current orders in hand full, or even a case of getting goods to downstream customers waiting in line, the company long-term benefit from the industry segments The logic is gradually rising verified. In the short term, the company can lock the company's annual orders full electronic cigarette lithium ion battery lithium primary battery of high growth and stable growth, smart era no ceiling. Company entrenched lithium primary battery industry, the rapid spread of smart meters provide the first wave of growth opportunities for the future of automotive electronics and high-temperature applications such as special batteries successor smart meter industry is expected to provide a second wave of growth opportunities. We expect lithium primary battery business will maintain growth of about 20 set up a subsidiary to focus Compass related applications, military and business growth worth the wait. Comparative international counterparts military income share of around 40, the company military business applications grow larger space. The company will be nurtured in military operations, the establishment of a subsidiary million-dimensional electron focusing Beidou-related business applications, and is expected to expand its product line from the battery to the communication terminal as a new growth point. Compass business for 13 years is expected to contribute less, but in the long run will become an important strategic growth. Combined with the company's strategic development goals, future military plans to gradually increase the proportion of revenues 20 growth program electric vehicle like car assembly has been completed, trial operation by the end of the outcome. Another way in the field of electric vehicles, and select increase the program as the main direction of electric vehicles, is expected to find a balance between the performance and the lithium battery industry needs contradictions in. The company has assembled three kind of car, the first half of 2013 is expected to begin trial operation in Huizhou region, the results are expected by the end of the outcome. From a technical development trend, added the program electric cars are electric cars universal process more reasonable transitional program from the company's strategic perspective, open up growth program electric cars to run from the production chain, the company is expected to application experience accumulated power battery industry, technology and experience accumulated for subsequent development. From the local demand, Huizhou City is committed to building the electronics, automotive, petrochemical combination of vaporization advantages of industrial clusters, will provide strong support for automotive test run the company's new energy. According to market research, there is now need to replace transit buses Huizhou region about 200 units. If you try to run the company for 13 years to achieve the desired effect, for 14 years is expected to get bulk orders and profit contribution maintain highly recommended A investment rating. We maintain our leading companies will benefit from the rise of the downstream industry segments logical judgment, the company stand on top of the wave of industry segments highlighting the rapid rise of the value of their investment. 13 years to maintain earnings per share 0.67 yuan, 0.87 yuan for 14 years, 15-year forecast of 1.05 yuan, giving 13 years 27 times PE, target price of 18.09 yuan, to maintain highly recommended A investment rating. Due to the large companies early gains, the recent share price correction, but we think the company's growth is gradually able to verify the logic, and the company 13 years of strong performance of high-growth uncertainty, the proposed bargain hunting more rational strategy is to do Catcher in the Rye persons - Catcher Catcher and wait for the harvest Risk Warning:! decline electronic cigarette market demands, Zhongkai Two lithium-ion battery project is not up to expectations, the size of non-lifting of the ban. 12345678910111213 Next >>
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