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After yesterday's severe fluctuations in the two major banks' stocks, the stock market opened lower, but with the active turns of blue-chip stocks such as petrochemicals, aviation, energy, transportation, and appliances, the stock index gradually shed its hold on banking stocks and steadily rose. Not only did it fail to cover up yesterday's gap in the gap, but it also swallowed yesterday's upper shadow line. The strong characteristics are obvious. Handicap trend shows that the incremental funds from bank stocks began to tap some blue chips that haven't gained much recently or were first adjusted in the previous period. Long-term consolidation of Hainan Airlines has taken the lead. It is expected that this kind of blue-chip stock rotation will gradually deepen. In the past, among the five blue chips in the blue-chip industry, the automotive sector has been quiet for a long time, and it is the most explosive. Investors can focus on attention, especially the automotive industry segment leader such as heavy truck overlord 000951. China National Heavy Duty Truck.
Breakdown leader
China National Heavy Duty Truck (000951): The company is the largest domestic manufacturer of heavy-duty trucks with a capacity of over 15 tons. The country's total sales volume of dump trucks and tractors of more than 15 tons ranks first, and the market share of cement mixing chassis is as high as 60%-70%. The comprehensive market share exceeds 20%. From the development trend of heavy trucks, large-tonnage, high-horsepower heavy trucks are the direction of development. At present, heavy truck products form a pyramid structure. Dongfeng and FAW have lower product tonnages and are located at the bottom of the tower. However, their market share is relatively large. China National Heavy Duty Truck Group and Shaanxi Heavy Duty Truck are mainly products with a capacity of more than 15 tons and are located in the middle of the tower. The joint venture brand has the largest tonnage. Located at the spire, but its market share is also relatively small. Among the 15+-ton truck manufacturers, the market share of China National Heavy Duty Truck is twice that of Shaanxi Zhongqi, which is ranked second, and the perfect industrial structure and network marketing after-sales service advantage will guarantee the protection of unique advanced technologies. The company's leading position in the industry.
Private placement to increase core competitiveness
The major shareholder China National Heavy Duty Truck Group has more than 760 types of various types of vehicles, forming the most complete series of complete truck product models in the country. China National Heavy Duty Truck put forward the goal of implementing an internationalization strategy: gradually realize the internationalization of brand, capital, management, talent, technology and market, and strive to build China National Heavy Duty Truck into an internationally renowned automobile brand by 2010 and strive to enter the world's top 500 companies. . The company increased the issuance of 68.66 million shares to CNHTC and acquired 51% of the bridge box company, HOWO project assets and other land assets, making the company not only own the core component production business, but also owns the complete high-end heavy truck HOWO model production business. The lower than half of the price of the HOWO vehicle is a cost-effective alternative, which will greatly enhance the company's profitability and competitiveness. Minsheng Bank plans to issue H-shares that are highly sought after by the market. Recently, Chinese-owned auto stocks in the Hong Kong market have also performed extremely well. The major shareholder CNHTC also has plans for the issuance of H-shares, which will also boost the secondary market of the stock.
Policy Support Benefits Industry Growth
The "Law of the People's Republic of China on Road Traffic Safety" promulgated by the State has carried out over-limit overloading control work for motor vehicles. The over-limit overload management has played a regulatory role for cargo transportation, and heavy-duty trucks are in strong demand. During the 11th Five-Year Plan period, the heavy-duty truck industry will still maintain a steady growth of 10-15%. In 2007, the heavy-duty truck industry will grow at a rate of about 15%. In 2008, the demand for heavy-duty trucks will become the peak year for the 11th-Five-Year Plan period. As an industry leader, the company will achieve twice the growth rate of the industry. For heavy truck sales, the third quarter of the year is the off-season, and the fourth quarter is the peak season. Therefore, the company's earnings per share of 0.54 yuan per share for the first three quarters cannot fully reflect the company's profit growth. It is expected that the sales volume of the company will increase in the fourth quarter, and the sales volume of the company will reach about 43,000 vehicles in the whole year this year, exceeding the plan's completion of 2.38%. The first quarter was also the peak season for heavy truck sales. It is expected that the strong sales from the fourth quarter will continue into the first quarter of 2007. In addition, the company has started to have large international export orders, and this year it is expected to export about 6,000 vehicles. With the double increase in domestic demand and exports, it is estimated that in 2007 the company's heavy truck sales will reach 52,000.
QFII, fund heavy stocks ready to go
From the analysis of the semi-annual report and the changes of shareholders in the third quarter, despite the fact that some organizations have reduced their shares, there are still institutions that continue to absorb them. The Social Security Fund 101 portfolio, South China Robust and Easy Fangda Value continue to hold the stock, while Funds Information and Fund Tianyuan increase Masukura, Morgan Stanley and other QFII are new to become the top ten shareholders, indicating that institutional investors are still optimistic about the development of the stock prospect. The 7-month fall of the stock's volatility and the intermittent increase in volume can also indicate that the third quarter was the process of institutional restructuring of the stock. At the beginning of the fourth quarter, the stock started heavy volume, indicating that the new institutions continue to increase their positions, but this round of upswings was hampered by the repression of the previous highs. The stock actively took a call, the volume was able to shrink rapidly, and there was a suspicion that the stocks were emptied. After repeated shocks confirming the support of the 60-day moving average, the market is expected to resume its upward trend. According to the company's operating conditions, we expect the earnings per share of the stock for 2006 and 2007 to be 0.75 yuan and 1.02 yuan respectively. The current value is obviously underestimated. Investors can be actively concerned.
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