Dongyuan Electric: Sharing Power Equipment Feast and Counterattack
http://www.sina.com.cn 23:17, March 9, 2007 Sina Finance
In the early stage, mainstream funds were hot for power equipment stocks. At present, the price of mainstream power equipment stocks in the market is generally more than 20 yuan. The company is the leading enterprise of high-voltage switchgear in East China. With the gradual increase of power grid investment by the state, Dongyuan Electric (002074) It is expected to share the power equipment feast and achieve rapid growth, and the stock price will also rise in retaliation.
First of all, companies with high industry prosperity have outstanding growth potential“ the 11th Five-Year During this period, the total planned investment of the State Grid and China Southern Power Grid exceeded 1.2 trillion yuan, nearly double that of the "Tenth Five Year Plan" period, and the average annual growth rate of grid investment is expected to be 20%. Based on this, it can be judged that in the first three years of the "Eleventh Five Year Plan", the growth rate of the power equipment industry will be faster, the industry demand growth will be higher than 30%, and the profit growth will be up to 40% - 50%. From the perspective of investment proportion, the future power grid investment will focus on the transformation of backbone power grids and large city power grids, so the prosperity of high and low end equipment industry of power transmission and transformation will enter a better period.
The company is one of the leading manufacturers of power transmission and distribution equipment in China. It has great advantages in the field of 12kV~40.5kV series permanent magnet operated intelligent high-voltage switch. The technical advantages of the company are mainly reflected in the application of permanent magnetic operating technology in the field of switches. The company took the lead in applying permanent magnetic operating mechanism to 40.5kV voltage level vacuum circuit breakers. The application of permanent magnetic operating mechanism in China is in the leading position in the industry, and the company ranks first in the country. In the production of 40.5kV series vacuum switches and switch cabinets, the company ranks second in the country. It is precisely because of these technical advantages that Dongyuan Electric can consolidate its leading position in the power transmission and distribution industry.
At the same time, in order to consolidate technological advantages, the company has formed a complete set of mechanisms to encourage technological innovation. In 2005, the R&D expense and its proportion in the main business income accounted for 5.01%, which was much higher than the average level of the industry. At present, the company has perfect technological innovation system, complete R&D conditions, and high growth is gradually emerging. At the same time, the company's performance is expected to grow by 50% - 80% year on year in 2006. There is no doubt that the company that can maintain sustained and high growth deserves investors' attention.
Secondly, new profit points keep improving the industrial chain
In the early stage, from the National Power Safety Expert Committee Tsinghua University Jiangsu Electric Power Test and Research Institute, Jiangsu Electric Power Design Institute and other relevant leaders formed a product appraisal committee, which unanimously passed the technical appraisal of two new products independently developed by Dongyuan Electric, namely ZW-126/T1600-40 outdoor high-voltage vacuum circuit breaker and LW-126/T3150-31.5 outdoor high-voltage self energy SF6 circuit breaker.
It is reported that ZW-126/T1600-40 outdoor high-voltage vacuum circuit breaker uses a single break high-voltage vacuum interrupter as the arc extinguishing element to break the current, uses the low pressure SF6 mixed gas in the porcelain sleeve as the external insulation, and is equipped with a spring operating mechanism, which is widely used in power, metallurgy, petrochemical and other power industries.
LW-126/T3150-31.5 outdoor high-voltage self energy SF6 circuit breaker is a three-phase AC 50Hz, rated voltage 126kV power transmission and transformation system grid equipment, which is used to cut off, open and close the rated current and fault current of the system, so as to realize the load distribution of the network, line dispatching, control and protection of the power system, It can also be used as interconnection circuit breaker and the occasion for opening and closing capacitor banks.
The successful development and mass production of these two new products have enabled the enterprise to achieve the strategic goal of producing high-voltage and ultra-high voltage power equipment, further enhance the core competitiveness of the company, and lay a more solid foundation for the rapid development of the enterprise.
The company expects that since the above projects are new products with high technology content, once the products are put into the market, they will greatly improve the company's performance and form a new profit growth point.
Third, undervalued brokers are piling up to counter attack
The company has raised funds for three projects in total: ZN72-40.5/M permanent magnet operated intelligent vacuum circuit breaker national level double high and one excellent high-tech industrialization promotion project with a construction period of 1.5 years, and it is expected that the annual sales will be 222.75 million yuan after reaching the capacity; The construction period of KYN-12~40.5 series intelligent armored switchgear technical transformation project is one year, and it is estimated that the annual sales after reaching the capacity can reach 150 million yuan; The construction period of ZHC Kou-35~110kV new combined electrical equipment technical transformation project is 2 years, and it is estimated that the annual sales after reaching the capacity can reach 148.8 million yuan. These three projects will enable the revenue and profits of Dongyuan Electric to grow at a high speed in the future. At present, its share price is related to the industry shares In contrast, the value is seriously underestimated, and the retaliatory rise is about to start.
At the beginning of the listing of this stock, there were obvious signs of capital care. At present, China Merchants Securities citic securities Haitong Securities and Guoyuan Securities are mainly held, and the stock nature is also unusually active. Dongyuan Electric rose sharply against the trend on Friday. The main force was very willing to pull up. The retaliatory rise is about to start, and investors can focus on it. (Shenzhen Guocheng Investment)
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
