129667786186084142_48This newspaper reporter Yang Zhuoqing Shenzhen market funds always fun chasing shadows.
Recently, frequently exposes a school bus accident bus unit's arrival galvanized the secondary market, was stressed by the Government of "school bus safety" and expectations of government policies allow money to "school bus concept stocks" roll in. Zhongyuan securities auto analyst Xu Minfeng told reporters: "school busThe rigid requirements exist, of course, is the lack of mandatory national standards. Government did not force promote, local sourcing and no unified arrangements, so the overall impact on listed companies at this stage has not yet been fully felt. "School bus concept stock Flash briefly on November 18, initiated by the zhongtong bus industry of China in Shandong of the safe school bus proposal on signing ceremony chatCity. To a large extent, irrational again resulting in secondary markets. On November 21, zhongtong bus opening 8 minutes being pushed into daily limit, daily limit after opening but gains throughout the day at 8.98%. Not only that, but related units of passenger cars is also full flowering: yaxing passenger cars was rushed to the daily limit in early trading, closed the day up 6.31%; Golden DragonCar and Yutong Bus per cent respectively and 3.47%. Analysis of Yu Junhua Hong Yuan securities auto analyst told reporters: "on November 21 zhongtong outstanding performance associated with their smaller plates, and Yutong Bus a week of strong gains are indeed associated with their school bus concept. "Reporters use of transaction software statistics, November 14-18th, Yutong Bus 4.7% per cent, as compared to the CSI 300 index fell 3.28%. Qin Xuwen Oriental securities auto analyst believes that at present most of China's urban areas school bus safety highlights, school bus accidents in Gansu province to a large extent, stimulate local officials at all levels, to take prompt measures. In accordance with the technical conditions of the private primary school bus safetyProvisions set out to establish a standardized, safe school bus operation system covering the whole country. "We should not lose sight of the Government in the concentrated energies of huge energy, professional school bus market is expected to quick launch in the near future. "Latest sinolink securities research report also pointed out that, in view of the frequent school bus accident, at all levels of Government are expected to increase purchasing inputs for the school bus, and the United States" the long head of the school bus "is expected to becomeFor mainstream school bus. United States school bus purchasing capacity of 40,000 units a year, and dedicated school bus purchase in China is only 1000 units, enormous room for growth.
At present, domestic only Yutong, Nakadori, a small number of enterprises launched the American "long head of the school bus", it is expected that the enterprises will be able to fully benefit from the rapid development of the private school bus market. However, for claims of this explosive growth, Yu JunhuaDo not agree: "introduced in 2010 the private primary school bus safety specification only provides industry standard, the Government did not enforce the promotion, taking into account domestic realities, I think the short school bus market demand will not be too great. "" Domestic Government well-off in developed areas, area students are generally not too far away and relatively far from their students in general educationFinance in underdeveloped areas are relatively tight. Agricultural tax canceled today, a small town fiscal difficulties, purchases that do not match capacity with demand, which to a large extent restricted the development of markets.
"Yu Junhua said.
Yutong: capacity bottleneck to breakthrough as coach of leading money favored Yutong (600066.SH nature cannot be overemphasized. PublicOpen data show that Yutong was listed in 1997 landing, from a profit of $ 2.55 million in 1994 to a profit of $ 860 million in 2010, 16 compound growth rates as high as 43.9%, is out-and-out bus industry leaders. Company quarterly results show that the first three quarters of revenues $ 11.01 billion, an increase of 25% sales gross profit marginAnd net interest rates and 17.33%, respectively, over the same period last year increased slightly. First quarter net earnings of $ 735 million, an increase of 34%.
Although construction increased from $ 573 million, but the end of the third quarter still holds $ 965 million in cash, working capital is still very good. From the production and sales data, sales in January-September buses 31718, an increase of 13%. Large, medium and light passenger car sales, respectively, 13,646 and 2,382 per cent growth, 15% and-17% respectively. According to the Association of the automotive industry data, Yutong Bus market share for the third quarter of 2011 in large passenger cars 25%, medium-sized passenger cars accounted for 23.66% the first three quartersMarket share. However, Yutong Bus was previously facing very serious capacity problems. "Especially since the beginning of 2011, still maintain a rapid growth of industry, the first three quarters rose to achieve 14%, Yutong Bus due to capacity tension, had to make structural adjustments on the order, give up some light products
wow ouro, led to the company's overall market shareHas slipped. Capacity issues have become the greatest development of the company's current bottlenecks.
"Qin Xuwen said. Fortunately, the capacity problems at the end is expected to gradually reversed. It is understood that the company of special purpose vehicle capacity upgrading projects will put into production in late 2011, estimated new capacity is 5,000 units, rights project of the 20,000 production project for passenger cars will also be put into production at the end of 2012,This estimation is expected at the end of 2012 the company total designed capacity of nearly 55
swtor power leveling,000 vehicles. The reason, first in the fourth quarter is the traditional season and, secondly
tsw power leveling, because the first three quarters of company settlement contracts to predetermined price, due to changes in prices of raw materials or contract changes the balance of the settlement to the four quarters of sales revenue, Yutong's sales of motor vehicles in the fourth quarterRevenues and profits will be higher than the first three quarters of a section. Yutong Bus recently to attract capital is a major reason for its school bus has similar domestic manufacturing company unsurpassed experience. Back in March 2007, Yutong launched their first school bus products "light bus", in May 2009, the reference to United States school bus standards development and designSchool bus held in Foshan, Guangdong, the first to teach Expo exhibitors.
The professional school bus product not only of the private primary school bus safety technical requirements, and learn from the United States "the long head of the school bus" product design and manufacturing experience. "Market of valuations being given to the company and does not take into account professional school bus market is explosive growth and brought bus rapid market growth for the companyPossibility of rapid growth in profits once again.
"Qin Xuwen believes.
Zhongtong bus: institutions the opportunity to throw participate in concept stocks funded mainly to floating capital, from which it passes bus (000957.SZ) on a book of heroes, Shanghai hot money into the wave of hype in the main team. Public information displays, zhongtong bus on November 21, turnover reached$ 201 million.
Business Department of Shanghai dapulu guotai Junan securities buying list first names, buying amount reached 20.067 million Yuan, and the buy list ranked third and fourth of the Sales Department, also from the Shanghai area. While at the same time, has taken the opposite strategy of institutional investors, while stock prices high throw chips. One spy too many shows that seats on the body the day sells 512. $ 160,000.
Zhongtong bus shown in the third quarter, the first three quarters of revenues 1.802 billion RMB, achieved a net profit attributable to the shareholders of listed companies of 38.0344 million Yuan, rose and 33.4% respectively, basic earnings per share of $ 0.16. According to the Association of the automotive industry data, the third quarter of 2011 zhongtong busLarge passenger car market share very quickly, from increasing per cent in 2010 to 4.78%, up 1.05%, medium-sized passenger car market share increased from per cent in 2010 to 2.38%, up 0.29%, large bus market share in the company fell slightly in the first half of the third quarter. Three quarters of titShows that the company revenue growth mainly due to 7-9 months of sales growth and, because overseas customer credits and domestic public transportation system of foreign exchange debts from their clients increase, resulting in dramatic growth in the company's accounts receivable 62.81%; export tax refund receivable increased causing the increase in other receivables; engineering companies Advance money paid in advance reached 140 million Yuan, An increase of 177.06%. Yu Junhua: "zhongtong bus market in Shandong area, even with government procurement practices, normally restricted to this range. "Gold-line statement: Gold-line reproduced above, does not indicate that confirm the description for investor use only and does not constitute investment advice. Investors a basis for action, at your own risk.
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