subject: Large Cold Stock: Rural Distribution System With Opportunity For Development - Heat Pump, Energy [print this page] Main domestic demand growth to be resumedMain domestic demand growth to be resumed. Company is the leading enterprises of industrial refrigeration industry, the downstream product market, including petrochemicals, Medicine , Car , Food And so on. Since 2009, under the impact of slow economic growth at home and abroad, the company products Sell Circumstances and orders in hand, obviously there is no pressure, the Company expects 2009 sales plan fell 10%. However, as gradual investment to promote economic growth, domestic demand is expected to gradually restore the future to bring the company sales growth.
Rural circulation system and create opportunity for development. Deep processing of agricultural produce refrigeration equipment will also be the focus of business development. Currently there are about 5,000 agricultural products wholesale market in China, undertook more than 70% of agricultural products, as basic to rely on business investment, most of the meat market, 10%, 20% of aquatic products, and a small amount of milk and soy products into the cold chain of distribution. Wholesale market for agricultural products in developed countries most of the government as the cause of public welfare investments, 85% of the food into cold chain distribution. Therefore, the state distribution system for rural emphasis, especially in central and western regions of agricultural products wholesale markets, and actively develop fresh frozen and cold storage of agricultural products, transportation-based cold chain logistics system to improve the capacity of cold storage and marketing of agricultural products supply capacity, small supermarkets, convenience stores and other circulation types and the promotion of rural and will help the company related to refrigeration equipment.
Increase Energy Environmental protection Investment products. "Eleventh Five-Year Plan" period, Dalian City Planning and Construction of 13 water source heat pump project, involving heating cooling area of 1100 square meters. Companies to seize the opportunity, introducing advanced foreign technology to develop energy-saving auxiliary water pump in the Xinghai Bay sea products have a water source heat pump Project And other projects. Xinghai Bay Business District Water Source Heat Pump Project, planning cooling heating area of 200 square meters. The pump station design capacity of 12 heat pump units, of which the first phase 3 sets of 10MW heat pump, heat, cooling an area of 26,260,000 square meters, 3 sets of 16MW second phase heat pump, heat, cooling an area of 460,000 square meters . In addition, the company also Xiaoping Island source heat pump heating, cooling project, which heat the overall planning area of 150 square meters.
Catalyst and risk factors: impact of international and domestic macroeconomic fluctuations in the price of uncertainty and volatility of raw materials is the main risk factors of company; but sea water pump and other new product development, promotion, construction of rural circulation system and Sanyo shares arising from the Group management level will help to improve company performance. PB
to 2 times the company's valuation levels, corresponding to the net assets per share in 2009 forecast a reasonable stock price was 9.94 yuan, respectively, the absolute value of 7.56 yuan, to maintain overweight rating.
