The improvement of the product structure of the ho

Changlin shares: the improvement of product structure has led to rapid performance growth

shovel and road machinery have grown steadily. The revenue of the company reached 2.09 billion in 2010, with a year-on-year increase of 42%. The company's leading products are loaders and other scrapers, "Yang Qingli said, with a year-on-year increase of 34%, slightly lower than the 57% increase in the industry. As a leading enterprise in road machinery, the company's graders and compactors increased by 47% year-on-year, higher than the industry growth rate of 36%. The company's industrial operation business mainly provides structural parts for multinational companies such as Hyundai Heavy Industry, mirakron, Kalma, BMW, etc. with the warming of the overseas market, the revenue increased by 41% year-on-year. In 2007, the company increased its investment in small multi-functional construction machinery products, which is mainly targeted at the international market. The gross profit margin is higher than the current loader. At present, the progress of the project has reached 65%. With the company's project capacity reaching production, the profits brought by the income of related products are expected to increase

product upgrading has brought about a significant increase in gross profit margin. In 2010, the net profit of the company was 280 million yuan, an increase of 300.42% year-on-year; The company's low self-sufficiency rate in the field of high-end materials is extremely disproportionate to China's rapidly developing economy and huge market demand. The increase in net profit came from the increase in gross profit margin from 8.6% to 12.8%, of which the gross profit margin of shoveling machinery increased by 6.49%. Mainly due to the company's adjustment of product structure, the previous products of the 9-series loader fleet with high added value have been upgraded. At the same time, the company's period expense rate fell by 1.54 points, further improving its profitability. The company will further improve products with high added value. With the growth of loader capacity, the gross profit margin of products will rise steadily. The investment income brought by Komatsu Changlin and modern Jiangsu increased by 64%, basically the same as the 69% growth rate of the excavator industry

fixed growth expands the product line and brings new profit points. In 2010, the company plans to issue 70million additional shares and invest in three projects, including 9 Series High-Performance loaders. After the completion of the loader project, the annual production capacity of 10000 sets of 9 series loaders can be formed, and 10000 sets of bridge series can be formed at the same time; 10000 sets of torque converter series; 10000 sets of transmission series, increased sales revenue of 1338.2 million yuan, and total profit of 94.3 million yuan. The municipal special vehicle project will add 1000 lifting and transporting vehicles with the vehicle; 250 aerial work vehicles; 250 garbage trucks will increase the sales revenue by 487.2 million yuan and the total profit by 24.261 million yuan. With the upgrading of the company's product structure, we expect the earnings per share in the next three years to be 0.72 yuan, 0.89 yuan and 1.08 yuan. Compared with the average ear peak height and average ear Valley height calculated in January, the 31 day closing price P/E ratio is 15 times, 12 times and 10 times, giving a recommended a rating