The Hang Seng Index continued to fluctuate sharply. After hitting 27838 in the early stage, it immediately fell to 27492. Before the close of the day, it recovered its lost ground. The market was led by real estate stocks and Bank of Communications (3328), and further rose to 28,238, closing at 28,228 points, up 458. Point, the turnover of 129 billion yuan. Hong Kong stocks are still in the capital city and continue to fluctuate at a high level. As a result, the volatility of individual stocks is constantly expanding. Therefore, short-term speculation is the best policy, and the return is very satisfactory.
With the resumption of A-shares this week, the South South funds will be slightly reduced, investors may wish to consider some relatively backward shares, especially those companies that are expected to improve their performance in the second half.
Among them, Zhen Mingli (1868) has the world's largest LED production base and is the world's largest production base for decorative lights and small bulbs. The results for the first half of this year are indeed good, mainly due to the continued good sales of LED decorative lights and the control of effective costs and operating expenses. LED bulbs are still the main source of profit for the company. Its gross profit margin is 50% higher than that of ordinary bulbs. Until now, the production capacity of LED bulbs has reached 200 million per month. It is expected to increase to 250 million per month by the end of 2007. .
The era of incandescent decorative lights has been banned in the European Union and Australia. The era of LED decorative lights replacing incandescent decorative lights has arrived. It is expected that the growth rate of LED lighting will be maintained, which means that the revenue may exceed 1 billion yuan in 2 years. Last year, mainland sales revenue accounted for 9% of the Group's overall sales revenue. Customers with growth potential mainly came from the wholesale market, while the European market was larger than the US market.
The company has already received sales orders in July and August. Based on the beautiful sales prospects and the market demand for LED products, Zhen Mingli plans to further vertically integrate production equipment to include LED chip production to meet market demand. The first phase of the investment will be carried out in the fourth quarter of this year. Some of the labor-intensive work will be transferred to the new plant in Vietnam, and the cost of the material can be saved by 30% to 40%.
Since Mingli has more depreciation in the first half of the year and high-margin products will be shipped in the second half of the year, it is expected that both gross profit margin and net profit margin will increase in the second half of the year. The gross profit of LED products is more than 50%. Although the price of the products is 6 to 10 times higher than that of the traditional light bulbs, it is expected to become more popular as the LED environmental protection and energy saving effects are further accepted by the market. The selling price will gradually decrease. Although the Group's current sales of lighting lamps are not large, it is expected to increase significantly in the next few years. In 2008, the Olympic Games will also be responsible for six projects. As the Group is still in a high growth stage, it is expected that its performance will continue to strengthen this year and next. The estimated earnings are 396 million yuan and 549 million yuan respectively. The forecasted price-earnings ratio is 27.5 times and 20 times. There is still room for improvement in the mid-line.
Technically, after the stock price has recently been adjusted to 9.1 yuan, it has been accepted. The current price has returned to 10 antennas. The MACD has more buying signals. It may be considered to lower the collection. The target price is 16 yuan and 9 yuan is used as the stop-loss position. The current price is 11.38 yuan).
Merrill Lynch sang a good ä¸ 34.5 yuan
In addition, China COSCO (1919) will continue to benefit from capital injection actions in the future and have the opportunity to be injected into tankers; as China's largest iron ore importer, it will benefit from China's iron and coal trade growth. Merrill Lynch pointed out that China Ocean Shipping will become the world's largest shipping conglomerate after it has been injected into the dry bulk carrier business by its parent company.
China COSCO's revenue forecast for 2007-09 is now 63% to 64%, while the profit forecast is 4.58 times and 5.12 times higher. The dry bulk carrier business and cargo volume due to iron ore and coal are increasing. Support future profit growth. It maintains a "Buy" rating with a target price of $23.5, up about 47% to $34.5, reflecting the current price of $29.85. There is still room for growth of 16%.
The subversive movement of semiconductor lighting in 2008, the semiconductor equipment market is facing a decline. At this stage, the professional lighting market in Weifang, Shandong Province is the standard. Let the lighting and lighting enterprises win the sale of lighting products to India at the high-end (Figure) The development of the village lighting industry to build the ancient town luxury Aircraft carrier
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