China fiberglass first quarter net gain is twice times higher

NetEase Finance April 14 News China Fiberglass today announced the announcement, the company expects the first quarter of 2011 net profit increased by more than 200%.　　The same period last year, the company achieved net profit of 16.6084 million yuan, earnings per share of 0.0389 yuan.　　The report said that during the reporting period, the increase in net profit is due to the company's glass fiber product sales and prices have increased significantly. Guotai recently released China Fiberglass research report that the domestic fiberglass production capacity accounted for about 53% of the world's glass fiber capacity structure, Owens Corning capacity first, accounted for more than 27%, China's glass fiber accounted for 20%. Economic recovery leads to a new round of profits in the fiberglass industry The report notes that China fiberglass-domestic glass fiber faucet, profit fast upgrade: China fiberglass existing 935,000 tons of production capacity, has built the largest, most advanced equipment fiberglass research and development Center and laboratory, cost control and new product development capabilities in the world first-class. Company-directed additional acquisition of Boulder Group remaining 49% Equity, 11 is expected to complete the implementation of the Boulder Group 100% Holdings.　　With the development of a new round of the glass fiber industry cycle, the company is expected to continue to raise prices, to obtain Zisheng of high profit.　　Considering the implementation of the 11 issue, the company estimated 11-13 EPS for 1.50, 1.95, 2.42 yuan, and there is a price increase to bring performance upward elasticity, overweight, the target price of 36 yuan. China fiberglass closed at 29.85 yuan today, rising 1.67%. Responsible Editor: NF058