In the first three quarters of 2009, the company realized operating income of 1.625 billion yuan, an increase of 0.74% year-on-year; operating profit of 180 million yuan, an increase of 38.76%; and a net profit of 168 million yuan, an increase of 44.83%.
Strong sales of UPS power supply and traction transformer products are the main reasons for growth
The company's production and sales of UPS power products and traction transformer products have grown rapidly, with a year-on-year growth rate of more than 50%, which effectively compensates for the company's traditional business - the lower level of motor products. With the acceleration of the construction of domestic wireless communication networks and high-speed electrified railways, the demand for UPS power supply and traction transformers will further increase, and the proportion of these two types of products in the sales revenue of the company will also continue to expand.
Changes in financial data
In the first three quarters of 2009, the company’s management expenses totaled RMB 63.69 million, a significant year-on-year increase of 46.38%. It is understood that this was mainly due to the increase in R&D investment in UPS power supply and traction transformer products; in addition, the net cash flow from operating activities was the same Increase of 184.23%, mainly due to the company's increased efforts to pay back.
Investment Advice
Taking into account the company's good growth, 09-10 company earnings per share are expected to be 0.66 yuan and 0.82 yuan, the company's current stock price is 18.36, corresponding to 09-10 dynamic price-earnings ratio of 28 and 22 times, to maintain the company's "buy" investment rating.
Strong sales of UPS power supply and traction transformer products are the main reasons for growth
The company's production and sales of UPS power products and traction transformer products have grown rapidly, with a year-on-year growth rate of more than 50%, which effectively compensates for the company's traditional business - the lower level of motor products. With the acceleration of the construction of domestic wireless communication networks and high-speed electrified railways, the demand for UPS power supply and traction transformers will further increase, and the proportion of these two types of products in the sales revenue of the company will also continue to expand.
Changes in financial data
In the first three quarters of 2009, the company’s management expenses totaled RMB 63.69 million, a significant year-on-year increase of 46.38%. It is understood that this was mainly due to the increase in R&D investment in UPS power supply and traction transformer products; in addition, the net cash flow from operating activities was the same Increase of 184.23%, mainly due to the company's increased efforts to pay back.
Investment Advice
Taking into account the company's good growth, 09-10 company earnings per share are expected to be 0.66 yuan and 0.82 yuan, the company's current stock price is 18.36, corresponding to 09-10 dynamic price-earnings ratio of 28 and 22 times, to maintain the company's "buy" investment rating.
Ceramic element(External drive)
SWT Smart Technology Co., Ltd. , http://www.fuding-sound.com