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address:West Xindian Bridge in Beijing Daxing zone HuangCun
Date:2012-01-06 22:52:05
Refractories industry has "two high", raw material costs accounted for the proportion of higher than 50%, wool interest rate is high of more than 30%, far higher than the
General manufacturing enterprises. The main reason is the technology of refractory industry has a relatively high demand, and downstream enterprises need
To obtain stable quality assurance of refractory material, in order to ensure the production continuity, stability and security.
Industry trend: refractories industry conformity and merger is an inevitable trend. Is the main form of upstream integration and industry integration.
The primary reason is the company inside the industry in order to avoid fluctuations in gross margin, two is because the downstream industry consolidation, trigger
At present the company numerous refractories industry consolidation, downstream of large enterprises need large advantage refractories with better
Refractories and services, integration of listed companies will occur in have the resources or have customers refractories enterprises.
Industry trends two: due to energy needs, the high-grade refractory materials instead of low-grade refractory trend is obvious,
The technology in the industry, product quality enterprises constitute good.
Industry trends three: steel production the overall contract trend is obvious. Refractory material replacement of high frequency, if any
Professional company to provide appropriate services, production of steel is the strong safeguard.
Industry trends four: the expansion of overseas market, the pursuit of further development.
At present, Pu resistant do best, overseas sales accounted for 20%. Key company analysis: Pu resistant shares, today bright two years
EPS is expected to be 0.48 yuan and 0.65 yuan, the corresponding PE is 30 times and 23 times, the company in the upstream and downstream integration strategy
Obviously faster than the superior, but the overall contract ratio also has large room for improvement, while considering the industry needs.
Ascending cycle, recommended overweight. Lu Yang company, products for the emerging ceramic fiber, wide use and good performance,
Foreground but period, today bright two years EPS is expected to be 0.8 yuan and 1.1 yuan. Ruitai technology, follow the policy of energy saving investment and construction
Basic refractories, along with the release of production capacity, performance will also show.