Golden ham is not fuling mustard hot money taste decided its first day performance

Every reporter Mao Jinnan "side eat ham, while drinking maotai, eat tired of a bit of sesame paste regulation."　　"This is an analyst for the food and beverage industry, a message on MSN before the Chinese premier ham (002515) is listed." A food and beverage industry analyst at a listed brokerage told the Daily economic news reporter that the premier ham was a good company.　　But now hot money ferocious, positioning high and low on the attitude of the floating capital.　　Pocket Equity convenience Hype Gold ham is a pocket plate company, today will have 14.8 million shares listed. He June, an analyst at Shanxi Securities, told the Daily economic news that, as a consumer company, only 14.8 million shares of the circulation plate, the first day of the listing was almost doomed to stir fry.　　Its fundamentals also provide a lot of room for speculation. The products of the Premier Ham company have also entered the upscale hotels and wine village, and its Baroque ham has reached the best hotel in Jinhua, "Guomao". In addition, low salt, pammal ham as the company's key products, has developed a more complete marketing plan. The low salt ham mainly by the existing ham channels, gradually promote the replacement of traditional ham. Pammal Ham customer groups are mainly aimed at high-end hotels, high-end venues, foreign supermarkets, as well as KTV, bars and other special channels.　　Pammal Ham has been promoted on September 18, the current customer investment work smoothly, by the end of October, has been interested in more than 200 customers, more than 50 intention agents, has signed with 3 agents, agents Annual Sales task of 1 million yuan, each city is ready to set up 1~2 agents. Price-raising pricing ability this time the premier ham raising project for the annual output of 1 million low salt ham and 5000 tons of low-temperature meat production line project, the project was actually in 2008, the project has been put into production, now in order to impact the small and medium-sized plates, the project adjusted for "technical transformation" refinancing.　　At present, the company's profits should have included some of its capacity, the future project will be faster. China Merchants Securities believe that the investment project will improve the company's capacity, improve product layout. At present, the company's ham production capacity of 700,000, and the traditional ham mainly, raise the project fully up to the postpartum will be the company added 1 million low salt ham and 3250 tons of low-temperature meat production capacity (not 5000 tons).　　But the project will replace part of the traditional ham production capacity, so the future of the company's traditional ham production will be reduced every year, while the low salt ham and pammal ham production will improve, effectively improve the company's production layout. National Gold Securities pointed out that the Chinese premier Ham is the largest production and marketing enterprises in Jinhua ham, compared with the recent listed food and beverage enterprises, the national Gold securities that the company has three bright spots: one is based on the future growth of the fine molecular industry potential, national promotion has not yet started　　The second is the company through positive product innovation is expected to further expand the space for development, low salt and pammal ham is expected to become a new growth point; three is Jinhua ham products have certain optional consumer goods attributes, and liquor is the same as fermented food, the future price increase ability. China Merchants Securities believes that the Jinhua ham industry is currently producingProduct concentration degree is still not very high, Jinhua small and medium-sized enterprises, processing workshops everywhere. And the company has a certain brand size advantage, listed after the company funds abundant, if can play its advantage in traditional Jinhua ham, integration industry, will further improve the brand reputation and competitiveness, but also will promote the development of Jinhua ham industry.　　But the company says it will reduce the proportion of traditional ham production, a part of the imagination is limited. The sellers ' valuation is more conservative according to the announcement of the IPO, the company 2010 1 ~ September to achieve operating income of 118.6782 million yuan, an increase of 10.39%, to achieve total profit of 35.1752 million yuan, an increase of 30.53% per cent, To achieve net profit of 33.9793 million yuan, an increase of 29.21%.　　According to the total share capital after the issuance, earnings per share in the first three quarters were 0.4623 yuan.　　However, earnings forecasts and valuations are relatively conservative, according to the seller's research report. Investment securities Forecast, 2010-2012-year earnings per share of 0.62 yuan, 0.80 yuan and 1.04 yuan.　　Give the company 2011 30~35 Multiples, a reasonable price range of 24~28 yuan. National Gold Securities estimated that the company 2010-2012 years after the diluted earnings per share of 0.677, 0.917 and 1.295 yuan, year-on-year growth of 25.98%, 35.53% and 41.12%.　　Reference can be compared to the company's P/E ratio, the recent listing of the first and medium-sized board price and valuation, and comprehensive consideration of the future growth of the company, reasonable prices range of 27.08~33.85 yuan, corresponding to PE for 39.96~50.00 times. Ham is good, but because the taste is salty, cause some people are not accustomed to, "foreign consumption of ham is more common, but domestic consumers to generally accept or need time."　　said the food and beverage industry analyst. This may also be the key to restricting the "ham" hype, unlike mustard, which is suitable for all ages. If the hot money does not like ham, then today "Ham" performance, may be less than expected, and this also provides long-term investors a good opportunity to intervene.