subject: Hydraulic power source will become the overall listing AVIC heavy machine manufacturing platform - t [print this page] Hydraulic power source will become the overall listing AVIC heavy machine manufacturing platform - t
Company after the listing of the Group as a whole heavy machinery manufacturing platform. Hydraulic power source is a member of AVIC enterprise. AVIC I has already begun the overall market. AVIC part of the overall goal after the boss is a basic form of 10 business segments: military aircraft, civil aircraft, aviation Engine , Avionics, airborne equipment, finance, heavy machinery, automobiles, real estate hotel, trade and retail. Hydraulic power source will be the group's heavy machinery manufacturing platform.
Company's existing assets and the assets are quality assets to be injected. The company's existing assets are civil hydraulic manufacturing assets and the assets to be injected into a total of 4: Jin Jiang, the company's operating assets, the 57% stake in the new aviation world, Yonghong 100% equity stake in An 100% of large companies. The companies mainly produce military hydraulic products, gas turbines, soldiers and civilians shared radiator, forgings and other military and civilian aviation sharing. The injection of these assets are a better texture.
Ambitious company goals. The business of the company has ambitious development plans. The business is currently in the country according to our position, to judge, as well as in the domestic macroeconomic situation of the normal development of equipment manufacturing industry, the company's more likely to achieve development goals.
Stock slightly underestimated. If the company early in 2008 and form the beginning, we expect the company to 07,08 years, respectively, operating income of 240 million yuan and 18.9 billion yuan and net profit of 028 million yuan and 2.18 billion yuan and 1.22 yuan to achieve EPS0.26. The texture of each asset according to the company and industry valuations, in our view to 35-40 times its 2008 price-earnings ratio than the right, corresponding to the target price of 42.7-48.8 per. Now slightly undervalued stock rating to "outperform."
One hydraulic power source will be the Group's overall listing of the heavy machinery manufacturing platform
Liyuan Hydraulic yes yes the first group of China Aviation, one of the many members. AVIC's main business is to develop various types of military and civilian aircraft manufacturing. Meanwhile, after decades of development, the Group have entered into a business relationship with the larger aircraft or relevance of the many small businesses, such as aircraft engines, avionics, electronics, real estate, hotels and so. As of the end of 2006, the Group a total of 53 manufacturing enterprises, 31 research institutes, 24 million employees and total assets of more than 100 billion yuan.
Domestic military industry in the current capital operation in full swing to achieve the military assets of the securitization trend, China Aviation Industry Corporation as the two domestic one of aeronautical manufacturing enterprise groups to be outdone, has begun Group as a whole listing process. However, complicating the business, a number of member companies, the Group's overall market can not be achieved. At present, the group on the overall market's basic idea is: (1) full use of the four groups listed companies have a platform with the listed company's business related or similar assets into the listed company, in order to achieve these assets to market; (2) other types of assets of a gradual reform, restructuring, IPO market gradually. The aim of the Group are: to the "Eleventh Five", the Group realized total revenue of 150 billion yuan into 500; basically 10 business segments:
Military aircraft, civil aircraft, aircraft engines, avionics, airborne equipment, finance, heavy machinery, automobiles, real estate hotel, trade and retail. To you as you roll the money cash cow operation
Group of four listed companies: West fly international (market share it), hydraulic power source, your flight shares (market share it) and China Aviation Precision Machinery (market share it). In addition to the aircraft precision machine, the first three companies have been started by a group injection.
AVIC overall market is expected to be an ongoing process for many years. But no matter how the future restructuring of the Group, listing the positioning of hydraulic power source has identified the current basic is the group of heavy machinery manufacturing platform, expected short-term group is unlikely to again force a major restructuring of the source of hydraulic.
