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wot power leveling, news reports and informal, SINA does not guarantee the truthfulness and objectivity, all valid information about the unit, is subject to the notice on the Shanghai and Shenzhen stock exchanges, please investors pay attention to risk. Northeast securities Solution Kit2011 company annual report, achieving revenues of $ 3.625 billion during the reporting period, an increase of 21.38%; implementation of $ 332 million in net profit attributable to the shareholders of listed companies, up down-32.33%; achieve earnings per share of $ 0.70; weighted average return on equity ratio 12.32%, up by 8.77%.Decline in gross margins per cent larger is the main reason result in performance loss. During the reporting period, the company produced 10.5705 million tons of cement, an increase of 29.59%, produced 9.6154 million tonnes of clinker, an increase 44.96%; sales of cement (clinker of goods) 11.8095 million tons, an increase of 35.39%. According to our estimates, tons of waterIntegrated mud sale price of $ 307, down about $ 32, cement business gross margin 30.91%, down 4.91%, overall gross profit margin of the company is 30.32%, down 5.03%. Overall rate of expenses for the period 20.17% and rose 2.37%. Company sales cost of $ 185 million, withThan 15.84%; management costs $ 364 million
world of tanks power leveling, an increase of 27%; the financial cost of $ 181 million, an increase of 114.72%, main production is a new project, capitalization of interest on loans to stop, the second is the increase in total loans, interest rates rise. Regional productivity layout continues to market, rich production capacity under construction in the future. In 2011, the companyNanzhang County 3000t/d project, 4500t/d project, 2500t/d project in Wenxian County of Qinghai province in March, June and December respectively put into operation, acquired 65% shares in xiahe Ando Corporation and Gulang Gorge 100% equity, considering Ando 11 no table, company cement production capacity of about 17 million tons. In addition, Grand 4500t/dBasic built projects, Gulang, nanzhang County second-tier comprehensive construction, construction of cement production capacity of 6 million tons, as a foundation for a competitive advantage in the future. Overall, we believe that with the improvement of macroeconomic tightening environmental
world of tanks power leveling, national strategy of developing the Western region and promote regional and company promotion of productivity improvement and control of the layout of, or will improve the operating environment of the company, thereby improving supply and demand for cement closedDepartment of.����We expected in 2012, 2013, earnings per share of $ 0.93, 1.37, PE, respectively current price corresponds to 12.9x, 8.7x, maintaining the "recommended" rating. Risk: the sharp decline in demand in the lower; expected rising raw material costs.
