3 Shares of this week: the market is expected to be 2% days, the steam mold still needs to force

Financial weekly researcher Wang Jiangtao 1. Lifan shares (November 15 purchase) Introduction: 14.5 yuan price, corresponding to P/e 45.31 times times.　　This issue 200 million shares, online issue quantity 160 million shares.　　This newspaper opinion: The passenger car starts late, did not form the scale effect. Lifan shares of the main products include motorcycles, motorcycle engines and so on. 2006 launched the first sedan, car export size rose to the industry third in the first half of this year.　　The total of 4 family members, such as Mingshan, controls the first 83% shares of the issue. Traditional strong motorcycle business income fluctuations, the proportion of revenue from 2007 to 72.54% to 2009 years of 54.62%, a slight rebound to 56.01% this year.　　Overseas income accounted for a relatively large (first half 41.08%), business gross profit margin is not high, the first half of motorcycle vehicles (domestic 20%, foreign 19%), motorcycle engine (domestic 12%, foreign 13%), passenger car cycling (domestic 18%, foreign 19%). Lifan shares involved in passenger cars later, 2006 years before the start of production. Passenger car and accessories accounted for only 21% of revenue in the first half. The proposed investment of 1.48 billion yuan, but also the majority of the passenger car project (150,000 passenger cars two period 50,000). Lifan shares the current passenger car capacity of only 50,000 vehicles, the scale effect has not yet formed.　　The company said it aims to build a core competitiveness in the 1.6L and below emissions and electric vehicles, so that passenger cars over the next three years to reach more than 150,000 units of production and marketing scale. 2. Days of the model (November 15 Purchase) Introduction: 17.5 yuan offering price, corresponding to 54.7 times times the issue of P/E.　　The issue of 52 million shares, online distribution 42 million shares. This newspaper opinion: the gross interest rate fluctuation is big, the overseas development still needs "the Power" (the proposal purchase) the day steam mold is china biggest automobile panel mold supplier. Hu Jinsheng and other 9 people actually control (total shareholding 51.12%). Core business Automotive panel die in the main business income accounted for nearly three years has been more than 70%.　　As a result of non-standard production and uneven order, mold gross profit margin each year fluctuations, the last three years, the average gross profit margin of 35.61%, 24.72%, 26.71% and 24% respectively. Day vapor mold is expected to raise capital 299.5 million for high-end car cover die. The future will focus on the development of international markets, the proportion of overseas sales increased to more than 50%.　　But the nearest three-year data see, overseas development still need "to power": sales accounted for the ratio has been less than 30%, the first half of this year fell to 13%. 3. Shun Jie Soft (November 15 purchase) Release profile: 38 Yuan Price, corresponding to 56.6 times times P/E.　　The issue of 40 million shares, online distribution 32 million shares. This newspaper opinion: the period expense fluctuation is big, the city occupies the rate advance 2% (the proposal purchase) in Shun Jie soft product line including rolls the paper, the handkerchief paper, the soft drawing paper and the box towel paper and so on.　　Deng Yingzhong father and son three control 72% shares. Nearly three yearsThe first period of net profit is 43.28 million yuan, 62.14 million yuan, 128 million yuan and 82.66 million yuan respectively, year-on-year growth of 22.83%. such as paper towels, such as fast consumer products, very test cost control ability. The total cost of the company grew more rapidly in 2008, up 42.54% from a year earlier, and 44.94% per cent in 2009. The significant increase in costs during the period was mainly attributable to a sharp rise in sales costs and management costs.　　In the last three-year period, the total operating expenses accounted for 16.05%, 19.56%, 25.33% and 21.21% respectively, and fluctuated greatly. Shun Jie soft to raise funds 790 million yuan, is expected to add 170,000 tons of raw paper capacity within three years, the market share is expected to increase by 2%-3%.