Operating profit rose by more than the first half of income: the first half of the company achieved revenues of 1.386 billion yuan Cheap Jimmy Wynn Jersey , net profit of 76.6 million yuan, an increase of 34%, respectively, and 53.3%. The net profit attributable to parent company 59.5 million yuan, an increase of 59.79%, 0.135 yuan per share. Gross profit margin increased slightly, the expense ratio is well controlled: the first half of the overall company sales gross margin was 19.1%, up 0.16%; and the cost was 12.52% Cheap Andy Pettitte Jersey , down 1.13 percentage points. LCD and CCL gross margin have risen, and the two income grew 70.8%, respectively, and 42.2%, far higher than the 12.7% of PCB, the PCB gross margin despite a slight decline in the company The overall gross profit margin remained stable.
PCB business lower than expected, the display business has greatly improved: the first half of the company’s PCB business growth lower than expected, mainly because of ultrasound circuit board (Plant) the company’s HDI product market competition and high raw material prices Cheap Gerrit Cole Jersey , profit margins are higher than significant impact, operating income grew 14.6%, net profit fell by 20%. Display business, profitability improved substantially. Ultrasonic Electronics Display (Plant) Main STN and CSTN, in the first half-year sales revenue and net profit growth of about 78% and 1936%, while a plant in the increase in revenue and net profit of 40% or more.
The company will implement capacitive touch-screen technology projects: the company also announced the board touch-screen technology projects through the implementation of the resolution. Subsidiary companies under ultrasound Display Co., Ltd. Shantou capacitive touch screen technology in a leading position, due to capacitive touch-screen market demand Cheap Jose Altuve Jersey , the company intends to further expand the production scale of the touch screen, the new annual capacity of 4.5 million square meters. The total investment of 89.96 million yuan, is expected in March 2011 to pilot production in May officially reached capacity. Put into sales income 120 million grams of total profit of 28.28 million yuan. Earnings forecasts and valuation pricing: We expect the company for 2010-2011 net profit attributable to equity holders was 1.39 million and were 1.7 billion, corresponding to earnings per share were 0.32 yuan and 0.4 yuan, current price corresponds to the dynamic price-earnings ratio 38 times and 30 times. We believe that the company’s PCB business is still on the rise.
Liquid crystal display business, STN CSTN other TFT LCD business was facing the squeeze effect in low-profit status, but the company uses liquid crystal display device to enter the field of capacitive touch-screen production, profitability is expected to continue to improve. Maintain the recommended rating. (Great Wall Securities Yuexiong Wei) Royal Bank shares (002 177): 11 years have a higher growth opportunities The company’s overall gross profit margin remained at 54%. Sales and administrative expenses increased by 11% and 13% Cheap Michael Brantley Jersey , accounting for revenue rose 2 points to 30%. The first time the company had just been identified as the state planning key software enterprises, the future income tax rate from 15% to 10%. Cooperation by the company to increase investment in equipment, the annual net increase in cash was -1.38 billion, ending down 231 million yuan in cash money. Company was still only 17% of assets and liabilities. 11-year company finance lease ATM machines will be put on 1250 units, which account for deposit and withdrawal-one 2 3, the target 80% net profit growth of 11 years, the company Xintang Pacific (601099) Industrial leasing about 6,400 square meters of new plant was put into operation in January and will invest 285 million to 2 years of construction over 35 Cheap Alex Bregman Jersey ,000 square meters, capacity 3 million units of the new production base, revenue and profit is expected to put into the total amount of 23.4 billion and 610 million yuan.
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