the the
investment in
Water, water conservancy of the whole society in the next 10 years the average annual investment in twice in 2010, the annual average will reach 400 billion over the next decade there will be 4 trillion. Land transfer to extract 10% of farmland water conservancy construction funds, which will effectively protect the water sources of funds for construction. Ministry of Water Resources to implement the formation of the initial idea of Among them, 2015, the investment will reach 1.8 trillion yuan, irrigation and water conservancy construction funds will account for 20%. Central issued a notice to further strengthen water conservancy construction and management guidance on the implementation of the spirit of the 2011 Central Document No. and the Central Water Conservancy Working Conference in November 11 last year, to further strengthen the importance of water conservancy construction, water conservancy construction five in the construction of focus and intensity are beyond doubt. Investment this year will begin to accelerate, is expected to reach about 420 billion, the growth rate of more than 27%.
of waterproof material industry leaders
the
company is China’s largest manufacturers of waterproof material, good product awareness, the main products SBS / APP modified bitumen waterproof membrane, waterproof coating. Company is now in high-speed expansion of the distribution throughout the country production base, production base in Beijing (15 million square waterproofing membrane +1.5 tons of waterproof coating), Shanghai (10 million square + tons of waterproofing membrane waterproofing coating), Jinzhou (10 million square waterproofing membrane +4 tons of waterproof coating), Kunming (10 million square waterproofing membrane), Huizhou (10 million square waterproofing membrane + tons of waterproof coating) and Xuzhou Woniushan (10 million square waterproofing membrane). The company has begun to try to water projects, primarily for the waterproof material of the dam,wow gold, water conservancy and hydropower waterproofing materials are pioneering period.
valuation and investment advice
view of the new growth point performance in a leading position within the industry as well as new projects, we are optimistic about the company’s development, is expected to The 2011-13 year diluted EPS of $ 0.3,0.46,0.68, corresponding to 40,26,wow gold,18 times earnings in 2012 of 30 times earnings, corresponding to the target price of 14 yuan for the first time to give the
risk prompts
accounts receivable bad debt risk, the raw material exposure to fluctuations in the slowdown in investment risk,wow gold, the risk of real estate regulation.