Foton: heavy truck demand is expected to good sales of high holdings – foam cerv
Foton Motor (600166) is mainly engaged in manufacturing, sales, cars, agricultural vehicles, agricultural machinery, tooling, stamping parts and so on. Mainly engaged in automobile business, accounting for 94% of main income. China's largest commercial vehicles, most complete car manufacturing company, in 2008 the company commercial vehicle market share of 15.5%, ranked first, is the leading enterprise in the field of commercial vehicles. In addition, the company's Beijing auto design and manufacturing of new energy base of industrial engineering, is currently China's largest and most complete design and manufacturing base for new energy vehicles. Today investment "online analysts" display: Company 2010-2012 consolidated forecast earnings per share were 1.45 yuan, 1.75 yuan and 2.16 yuan, corresponding to dynamic price-earnings ratio for the 14,12, and 9 times; the current total of 23 analysts tracking 5 analysts recommend "strong buy" ratings, 17 analysts recommend "buy" rating, an analyst recommends a "neutral" rating, comprehensive rating factor of 1.83.
Foton on April 9 release in the first quarter forecasted to notice, the company's net profit from January to March 2010 rose 170% over last year; April 10 release in March 2010 newsletter of all product sales data, all product sales 85,838 Taiwan, total sales of 178,169, up by 42.9% cumulative growth.
(And Reuters Financial Director)
A quarter of heavy truck, light truck, light-off, medium and large customer sales ring up more than 6.13%, respectively, 16.81%, 22.34%, -27.76%, so Huatai Securities is expected in the first quarter combined sales revenues increased about 11% -12% , reaching 14.126 billion yuan. Company vehicle sales in line with expectations, China and Thailand United Securities still expect full year sales of 95,600 heavy trucks, light trucks 587,900, 5,500 medium and large passenger cars, total sales grew by about 19.4%.
(And Reuters Financial Director)
January-February the company accumulated 92,300 vehicle sales, up 43%, mainly to benefit from light truck and heavy truck demand remained robust, light truck and heavy trucks are not short in the off-season, as March is the net light cards and the season of heavy truck, light truck and heavy truck SW is expected in the March quarter will create a new high, the company expects vehicle sales in March at 80,000, of which heavy truck sales will be 10,000 or more light truck sales in the 60,000 or so, as sales-than-expected quarterly results led to a substantial growth is expected 1Q10 EPS at 0.55 yuan or so years, an increase of 170%.
(And Reuters Financial Director)
Second quarter were more likely to be price increases on the light truck to respond to the imminent impact of steel price increase, etc., so Huatai Securities is expected in the second quarter combined net margin level may still be 3% to 3.5%. Huatai Securities improving the company in 2010 combined net profit margin forecast to 3.0% level was maintained in 2011 than in 2010 net profit margin of 0.2 percentage points to upgrade the forecast.
(The original Reuters Finance)
Company's new energy auto project is definitely not just stay in the passenger area, it is understood the company will launch this year related to pure electric vehicles Mai, mainly for urban taxi, sprinklers, and sanitation trucks. Soochow Securities said the company once the field of public services in these breakthroughs, Foton will become the new benchmark of new energy vehicles in the field.
(And Reuters Financial Director)
In 2009 the company consolidated gross profit margin was 11.17%, up 3.07 percentage points; which light truck gross margin reached 11.87%; weight card margin to 10.36%; the market worried about the decline in corporate profitability, SW point of view: As in 1Q10 steel and other raw material prices are still low, and because economies of scale leading to cost reduction cycle, the company expects 1Q10 consolidated gross profit margin increased slightly last year still; 2Q10 while in steel and other raw material costs will rise, but the company still needs light truck and heavy truck will continue to improve, and if the steel price rise than expected, while light truck and heavy truck company exists the possibility of price hike; In addition, the SW that light trucks for 10 years the company will benefit from improved product mix is expected to 10 years Ollin Light Truck Series mid-range, especially the proportion will increase, improving product mix will also help improve gross profit margins, consider steel prices rose and light trucks to improve the structure, an upward adjustment in gross profit margin of 10 to 11% of young card.
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