Hua Instrument electric Big order concept triggers imagination space

July 1, 2010 announcement, the first half of 2010 net profit is expected to increase year-on-year 40%-60% (30.8147 million yuan in the first half of 2009, earnings per share of 0.1145 yuan), the main reason for the company's wind power equipment operating income compared to the same period last year a larger increase. In February 2007, the company shares a duplicate license, set into the group owned by the High-voltage electrical appliances and wind power equipment-related assets, and renamed as "Huayi Electric", officially into the development of high-voltage switchgear, wind power equipment, distribution automation three major business. After the replacement of the assets, the company has an annual production capacity of 15000-20000 sets of high and low pressure cabinets, outdoor switch 7000-10000, indoor switch 30000-35000, automation equipment, about 1000 units, wind power equipment 250 units of the scale　　High voltage electrical equipment in the domestic industry in the forefront of the comprehensive rankings, wind power equipment production capacity in domestic enterprises after the Goldwind, in the industry ranked among the top. October 2009, the company intends to establish a joint venture with Germany IPT Ebbitt Power Technology Co., Ltd. (tentative name), registered capital of 10 million yuan, of which the company invested 7.5 million yuan (accounting for 75%). Mainly in the middle and high voltage switchgear (3KV-1100KV) and related necessary parts of research and development, production and sales. After the completion of the joint venture company capacity of 1000 to 3000 sets per year.　　The investment aims to introduce Germany's advanced C-gis switchgear design and manufacturing technology, through the IPT Company's international market development and proprietary technology and other advantages into the world's high-voltage electrical appliances market. Wind power as the most mature new energy industry, the future development will continue to maintain high-speed growth.　　The country's new energy industry revitalization Planning, the 2020 wind power development goals have been raised to 150 million kw, and as of 2009, the total installed capacity of only 25 million-kilowatt, the entire industry development space is still huge. The company has a large order concept. 2009 won the 1.5MW wind turbine orders have reached about 120, plus the second half of 2010 Tongyu manufacturing base put into production, will also direct access to 50,000-kilowatt of orders, 2010 orders are expected to break through 200 units. November 2009, with Taiyuan Cheng da group Fanshi Cloud Yu Wind Power Co., Ltd. signed 252 million Yuan wind turbine procurement contract, the main contract 33 sets of hw82/1500kw wind turbine; September 2009, with Huaneng Jilin Power Generation Co., Ltd. signed the "Huaneng siping Xinfeng Power Plant 4x　　49.5MW Project host procurement contract, the total contract price of 225 million yuan; July 2009, the company's wholly-owned subsidiary of Huayi Wind Energy signed Ningxia Power generation company of Helan Mountain head off wind farm a 40.5MW wind turbine and ancillary equipment supply contract, the contract price of 207 million yuan. Hunan Securities said that according to the business performance forecast, the company 2010-2012 is expected to maintain an annual income growth of 50%, adjustedHigh EPS forecasts to 0.53, 0.74 and 1.23, corresponding to the current PE is 21, 15, 9 times times. Compared with other listed companies of wind power, the present stock price is underestimated, not responding to the high growth expectation of the future, increasing the company's rating to "buy" and the target price is 18.45 yuan.