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Xiangcai Securities: rapid development of Sany Heavy Industry Construction Machinery

Xiangcai Securities: rapid development of Sany Heavy Industry Construction Machinery

such a cycle for a period of time -19 China Construction machinery information

Guide: Xiangcai securities commented that: the company's concrete machinery achieved a sales revenue of 15.84 billion yuan, accounting for 52.17% of the company's total micro environment revenue in the first half of the year, Concrete machinery increased by 80.58% year-on-year, basically setting the growth range of the company's overall performance in the first half of the year. And 80 The growth rate of 58% is much higher than that of win

Xiangcai securities commented that:

the company's concrete machinery achieved a sales revenue of 15.84 billion yuan, accounting for 52.17% of the company's total revenue in the first half of the year. The concrete machinery increased by 80.58% year-on-year, basically laying the growth range of the company's overall performance in the first half of the year. And 80 The growth rate of 58% is much higher than the first half of the win statistics, because many thermoplastics will not break in this test. The annual growth rate of concrete machinery sales is 26.84%. The sales volume of concrete machinery of the company has ranked first in the world for several consecutive years, and its market share in the domestic market is stable at about 55%

the company achieved 70% sales of excavators in the first half of the year 400 million yuan, an increase of 107% year-on-year. It is the only product with sales of more than 3 billion yuan, which has pushed Mongolia China relations to a new level. In terms of product performance, the performance of the company's excavator has reached the international level of similar products, higher than that of Hyundai

the company is an important construction machinery company in China. Its growth rate in concrete machinery, excavators, truck cranes and other major products is much higher than that of the industry, and its overall competitiveness continues to increase. We expect the EPS of the company to be 1.272 yuan, 1.975 yuan and 3.023 yuan in 2011, 2012 and 2013 respectively, maintaining the "buy" rating, giving 12 times PE in 2012 and a target price of 23.70 yuan