![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
The price of single crystals has stabilized and rebounded: It is understood that the average price of single crystal in the first quarter of 2012 was 0.41 yuan/carat. The price in the second quarter stabilized and rebounded. The order price in June was about 0.43 yuan/carat. The main source of the company's performance contribution in the first half of the year is still single crystal, and the recovery of single crystal prices has greatly boosted the company's performance. Gross profit margin increased steadily: In the first quarter of 2012, the company's gross profit margin was 32.33%, up 6.56 percentage points year-on-year. With the year-on-year decline in single-crystal prices, the company reduced its synthesis costs through excellent cost control and improvements in equipment and synthesis processes, maintaining a high level of profitability.
The issuance period of the additional issuance project in the second half of the year: the company's additional issuance project has been basically completed, and entered the production period in June. By then, the company's pre-alloy binder production capacity will reach 12,000 tons, polycrystalline composite sheet capacity will reach 12 million. As it is in the initial stage of production, it is expected that the output of polycrystalline composite sheets will be released by 3 to 4 million pieces this year, and the output of pre-alloyed binders will be released by about 4,500 tons. Contributed EPS 0.04 yuan respectively, a year-on-year increase of 100%
Company reserve projects: 1) Diamond wire saw: Currently under development, wire saws have been able to produce micro-powder, wire saw equipment imported from Germany, is not yet in place. Due to the large uncertainty in the recovery of the photovoltaic industry, the company has taken a cautious attitude towards the expansion of this business and steadily advanced; 2) Large-diameter tool composite film project: This product is one of the development directions of the company's future polycrystalline field, technical barriers. High and profitable. In the field of composite sheets, the size of the size is a symbol of the company's technical strength and market position. The Yellow River whirlwind is currently able to achieve a maximum of 58mm. This size is also the largest size of the domestically produced production. Except for the cyclone, only Sifangda can produce.
Investment suggestion: It is estimated that in 2012-2014, the company's EPS will be 0.38 yuan, 0.51 yuan, and 0.62 yuan respectively. The current stock price is less than 20 times PE in 2012, maintaining a strong recommendation rating.
Risk warning: macroeconomic growth rate fell more than expected
Touch Kitchen Faucets,Touch Kitchen Faucets Price,Touch Kitchen Faucets Product
Yuyao Zelin Sanitary Ware Co., Ltd , https://www.kitchen-sinkfaucet.com