Institutional differences sinovel wind power Inquiry minimum 60 yuan maximum 138

January 8 News, this week Wuhua Rui Wind power finally finalized a 90 yuan issue price, this is a a-share board of the highest issue price.　　It is worth mentioning that a number of institutions in the network under the initial inquiry when the price differences are quite large, the lowest quotation of 60 yuan, the highest is up to 138.68 yuan, the difference is as high as 131%. Sinovel is China's largest wind turbine manufacturers, 09 its new wind power installed Capacity 3.51 Million-kilowatt, market share 25.3%, the industry ranked China first, the world's third.　　The 90-yuan issue price, according to the 09 diluted earnings per share, corresponding to 48.83 times times P/E, only the listed wind turbine technology at present P/E is about 23 times times. Although the valuation is one-fold higher than the goldwind, as of January 5 3 o'clock in the afternoon, Sinovel purchase a total of 72 placing objects to participate in the effective purchase of funds of 18.27 billion yuan, subscription multiples of 9.67 times times.　　49 placing objects to give a minimum of 90 yuan for the purchase price, but there are 22 purchase price has not reached 90 yuan. Through the publication of the net under the initial inquiry can be seen, the agency of Sinovel wind power quotes are quite different.　　such as the industrial and Commercial Bank of Banrishin Fund Management Enterprise Annuity plan gives a minimum price of 60 yuan, while the investment account of warfarin securities declared prices as high as 138.68 Yuan, the same company inquiry, given the price difference reached 131%.　　Although most brokerages are bullish on Sinovel's future development, the price range offered by brokerages is also divided. The sponsor of the securities combined with relative valuation and absolute valuation methods, and consider the company's market position and high growth, it is considered that sinovel reasonable value range of 95.25 yuan-106.68 yuan/share.　　The proposed inquiry interval is 54.51-61.62 yuan.　　Xiang-wealth securities, according to the company's project planning and in-hand orders, the company's 1.5, 3, 5MW wind turbine sales forecasts, while reference to growth and valuation similar to the Goldwind, the price range for the inquiry is 54.51-61.62 yuan/share. For the future development of wind power industry, the Great Wall securities that the last decade, the global wind power installed significantly increased, and China 09 new installed capacity reached 13.8GW. Consider the wind power installed base has been large and "internet difficult" problem, the future land wind power growth will gradually fall. However, the leading position of Sinovel and the first advantage in the field of large capacity fan, the follow-up growth is expected to exceed the industry average level. (Xiao from Shanghai)