Yantai Spandex can keep up with the pace of industrial recovery

"Not military, but can surpass the military listed companies" Yantai Spandex can keep up with the pace of industrial recovery in recent days, Xinxiang chemical fiber (000949), Shandong Hailong (000677) and other companies have increased significantly. Analysis of the industry, chemical fiber listed companies have increased gross profit, profitability will be enhanced, the entire industry into the upward channel. And many investors are concerned about the suspension of the Yantai spandex, many investors expressed the hope that the company can quickly recover the card, as soon as possible to keep pace with the industry recovery. The author found that although negative reports have not been appeased since the listing, this does not affect the company's good fundamentals and future prospects.　　Many investors say they have little interest in what happened more than 10 years ago, and they are more concerned with the current and future developments. Two-lose situation?　　Double win situation? In the face of recent negative reports, many small and medium investors are worried about the formation of a dual-lose situation. The company's management had to spend a lot of time dealing with the media, the public investors and the related things, and not focusing on the business. and spandex, Aramid industry since 2008 into overcapacity, price decline, the beginning of the first quarter of 2009 years, has begun a clear recovery, the company if not seize the opportunity to actively respond to the company's performance will inevitably be affected, and ultimately affect the interests of investors. It is clear that both the enterprise and the investor lose the situation is not want to see. "But after the media turmoil before the IPO, Yantai Spandex has obviously been slowly adapting to the identity of a public company." Although in 2008 only in the SME market, but it is a long history of the company. Yantai Spandex as the domestic high-end specialty fiber industry leading enterprises, the development of nearly 10 years has been the lead spandex industry. Company specializing in High-tech special fiber research and development and production, is the country's first spandex fiber production enterprises. The company's main products are spandex fiber, aramid fiber, is a new material field, high technical content, high value-added, is a high-tech chemical fiber industry products. is also the current domestic spandex industry leading enterprises and the largest aramid fiber manufacturing enterprises for the domestic scale of the largest specialty fiber production enterprises. The company's main products are spandex fiber, aramid fiber, is a new material field, high technical content, high value-added, is a high-tech chemical fiber industry products.　　is also the current domestic spandex industry leading enterprises and the largest aramid fiber manufacturing enterprises for the domestic scale of the largest specialty fiber production enterprises. After a round of prosperity in 2008, the spandex industry fell silent, the rapid decline in prices so that the industry's profits plummeted. But Yantai spandex in time to strategic expansion mainly on Aramid, so that the company can maintain a relatively stable development in the financial crisis. Aramid, as one of the special fibers, is a typical type of high modulus High-strength special fiber because of its aromatic main chain structure and unique properties. And the Para-aramid (1414) is more likely to enter a large number of demanding military field. But the demand of aramid is constrained by the supply of tension, DuPont since the 60 's the first realization of Aramid 1313 after the industrialization, in a longer period of time completely monopolized the technology of AramidSurgery and the market. Many international enterprises continue to strive to break through but in addition to the Japanese emperor, such as a small number of enterprises have not been successful, especially aramid 1414 of the technical barriers are higher.　　At present, Yantai Spandex Aramid 1414 Pilot is underway, which will make the company in addition to DuPont and the Emperor, South Korea, outside the fourth, the only domestic industrial production of 1414 enterprises. Recently, spandex prices have come out of the trough recently, spandex price from the lowest price of 40,000 yuan/ton began to gradually rebound, rose to 47,000 yuan/ton. At present, the spandex supply is tight, the price still has to continue to rise space.　　The main reason for the increase in the price of spandex, both raw material prices are rising factors, but also the demand for the downstream drive, as well as the May 8 Association meeting to coordinate prices to promote the price increase. Institutional investors believe that Yantai Spandex experienced media turmoil and industry trough, can still maintain a sound development of enterprises is also a test.　　After all, as a listed company, the media and public supervision is necessary, will enable enterprises to strengthen self-discipline from all aspects, improve corporate governance capacity and transparency. The author found that many investors face Yantai spandex problem that "winter is not terrible, the financial crisis almost all the industry has caused a huge impact, the crux of the problem is the positive response, Yantai spandex The best way is to operate the company well, the special fiber innovation, production work well." "Some investors also believe that the history of the problem has a specific historical background, can not be critical to look at, entangled in historical issues, but also the development of listed companies is very unfavorable."　　Enterprises to operate a good enterprise, the media play a good role in supervision, the market can be balanced and stable development, in order to have a winning situation. Institutions widely optimistic Aramid 1414 Yantai spandex business, become a fund manager of Yantai Spandex One of the most important reasons. Some institutions even think that Yantai spandex is the pursuit of DuPont's special fiber industry leader. The discovery of Aramid 1414 is considered to be an important milestone in the development of materials industry, and many researchers believe that technology and funds are effective barriers for other manufacturers to enter the Aramid industry.　　Compared to the recent media on Yantai spandex Some of the questions, more investors still focus on the company's current fundamentals and future growth. It is worth noting that Yantai spandex although is a board listed companies, but it is a fund together stocks. Institutional investors expressed a high degree of recognition of Yantai Spandex will focus on the development and production of aramid, and keep up with other high-performance fibers, as a strategy, up to 2009, a quarterly bulletin, Yantai Spandex top ten circulating shareholders by the fund, Social Security, QFII all occupy.　　10 institutions of the total holding 7.6199 million of the circulation of a shares, respectively accounted for 6.07% of the total equity, circulation a A-share 23.8%. "Public offering institutions optimistic about the Yantai spandex, especially in the 2008 by the financial crisis, and did not give up the reason is that its new products have a core competitive advantage, especially Aramid 1313, 14,142 items." "As far as I know, aramid 1414 when put into productionhas been a matter of close concern to the agency. The discovery of Aramid 1414 is considered an important milestone in the development of the material field. Aramid 1414 has a very high strength, greater than 28 grams/Dan, is the quality of steel 5~6 times, modulus is steel or glass fiber 2~3 times, toughness is steel twice times, and weight only 1/5 of steel. (Aramid 1414 Strong toughness also makes its cutting and processing extremely difficult, the need for expensive special tools). Aramid 1414 first used in the national defense and military and other cutting-edge fields. The United States, Russia, Britain, Germany, France and many other countries, such as bulletproof vests, bullet-proof helmets, anti-puncture and cutting clothing, explosive clothing, high-strength parachute, bulletproof body, armor plate and so on are a large number of aramid 1414.　　In addition to the military field, Aramid 1414 has been used as a high-tech fiber material is widely used in aerospace, mechanical and electrical, construction, automobiles, marine aquaculture, sporting goods and other national economic aspects.　　Therefore, in the institutional sector, Yantai spandex by the fund managers think "not military, but can surpass the military listed companies." Not long ago, to Shandong Province Science and Technology department and other units have formally passed the Yantai spandex as the first batch of High-tech Enterprises in 2008.　　Since the company obtained High-tech Enterprises in three years (that is, 2008-2010), enjoy 10% of income tax concessions, that is, the proportion of 15% to pay income tax. CIC Securities that "the company currently Aramid 1414 Pilot has been successful, which reduces the uncertainty of industrialization, help to enhance the company's confidence." The 100-ton pilot project successfully put into operation for 1000 tons of industrialization project provided the technical basis, as the pilot is more difficult, pilot success greatly improved the company's confidence in the production of Aramid 1414. Due to the procurement of industrial production equipment still need 1.5 years, is expected to achieve the mid-2010 1000 tons of industrialization. "Profitability, Aramid 1414 Technical barriers high, demand rigidity, gross margin will be maintained at about 48%." At present, there is no domestic aramid 1414, the required materials from DuPont or Japanese emperor company imports, the current serious demand. CIC Securities that 1414 excluding the tax price of about 260,000/ton, after the industrialization of the annual increase in income of 260 million yuan, accounting for the company's total revenue of 13%-15%, gross margin will be maintained at around 48%.