October 13 Gem Issue stock Overview

Ding Han Technology (300011): Enjoy the construction of rail transit building feast drawing dedicated power growth blueprint

The company is mainly engaged in the development, production, sales and technical support services of the intelligent power system of rail traffic signal, the electric power operation system of rail transit, the rail traffic shielding door power system and the rail traffic communication power system, which plays an irreplaceable important role in the safety and stability of railway transportation. and rail transport industry customers have established good relations of cooperation, the formation of high visibility, rail traffic signal intelligent power system has been successfully used in 1,933 railway sites, covering all railway stations and urban rail Transit city. Since 2002, the company timely grasp the good opportunities of railway construction, and actively promote the rail traffic signal intelligent Power Equipment Technology update and safety and reliability improvement, in the entire rail transit market has achieved good results, established the industry market leading position. Increased demand for signal intelligence power and increased corporate market share will drive the company's revenue growth in this area. After the launch of the fund-raising project, the company's rail transit power supply system for 2010 to achieve market share 2.33%, 2013 to 20%, become the main rail transit power supply suppliers, will add 407.42 million revenue, more than 2008 276.87%.

China Test (300012): The largest independent third party private testing institutions in China

Company for a national, comprehensive independent third-party testing services, mainly engaged in industrial products, consumer goods, life sciences and trade security field of technical testing services, currently in the country has nearly 30 branches of the business network composed of chemical, biological, physical, mechanical, electromagnetic and other fields of 30 laboratories. The company has independent of the society to produce fair data qualifications, testing data has a high market credibility, including the United States, Britain, Germany, France, Italy, Japan, Korea, China, Taiwan and Hong Kong region, including a total of 42 countries and regions recognized. Since 06, the company's main business income and net profit year-on-year growth, the annual compound growth rate of 71.58%, 59.11%, mainly due to the expansion of corporate visibility brought business growth, gross margin year-on-year decline, from 06 81.85% slipped to the first half of the year 64.26%, Mainly testing service costs down, testing staff overall pay increase, equipment depreciation costs increase and other causes. As the market's first inspection industry stocks, and the gem, for the follow-up development has important significance, the financial advantage allows the company to acquire other testing resources, into the new detection field to bring opportunities. After the construction of the investment project, the company's testing ability will maintain a steady growth, the annual growth rate is basically maintained between 28.6–37.0, and domestic testing market needs.

Xinyu Logistics (300013): Fast growing electronic components bonded warehousing service Provider

Yangtze River Delta is a first-class integrated warehousing logistics service provider, has been focused on bonded warehousing and ancillary logistics services, has grown into the industry's well-known bonded warehousing service providers. Company to the electronic components bonded warehousing as the core, and the electronic information industry supply chain of raw materials supply, procurement and production links to provide Third-party integrated logistics services. In the relevant warehousing and logistics industry, "profit model" replication and the development of domestic electronic information industry for the company to bring good prospects for development, and has formed a support for the company's sustainable development of the core competitive advantages of high-end integrated logistics services capabilities. Company accurate, fast, safe, thoughtful, honest service has won the recognition of customers, has formed a relatively stable electronic information industry services, including: Tyco, MOLEX, Gold, Toshiba, Foxconn and other internationally renowned supplier of electronic components (or agents). The company has independent research and development of warehousing management system, the realization of modern bonded warehousing logistics services, integration and coordination. 2006-2008 years of operating income year-on-year growth of more than 35%, nearly three years gross margin of more than 50%, reflecting a better sustained profitability. This collection of funds is mainly used for civil construction, acquisition equipment, operational preparation and data center construction, hardware equipment updates, software platform development. Project duration of about one year, after completion will further optimize the existing network layout, enhance the company's independent innovation capacity.

Billion-weft lithium Energy (300014): Domestic high energy lithium battery industry leading company

The company's main business is the production and sale of battery products, the main products include high energy lithium primary battery and two times combined battery, including lithium-ion batteries and lithium-manganese batteries, two times combined batteries including lithium batteries, lithium polymer batteries and Ni-MH batteries, high energy lithium battery for the company's core business, It is widely used in intelligent meter, automobile tire pressure Monitoring system, smoke alarm and radio frequency identification and other related fields. From the first half of 09, the contribution structure of the gross margin, lithium-Asian battery margin contribution of 89%, mainly due to the downstream demand is better, while the product gross margin is higher, has been maintained in more than 44%. The future development of the company will continue to focus on the field of high energy lithium primary batteries, through the expansion of capacity and technology development to continuously enhance the core competitiveness. As the first Chinese company to enter the high-end lithium-manganese battery market, the company successfully developed high security, long life 9V Lithium manganese batteries, flexible packaging lithium manganese batteries, to break the monopoly of foreign manufacturers, market share from none to have, and then become the absolute leader of the domestic market segments, its core competitiveness should be specialized business positioning and technical innovation capability. The fund-raising project is mainly used as a green high-performance lithium-ion battery and lithium manganese battery automation, large-scale capacity-building, as well as the preparation of first-class lithium battery engineering technology research and Development Center, a year later Tatsu production will achieve 50% of the planned production capacity, the company's revenue will rise from the current 200 million to 560 million, net profit will rise to 97 million yuan.

Ai er Ophthalmology (300015): rapid expansion of the eye chain medical institutions

At present, the company has set up 19 eye hospitals in 12 provinces (municipalities), and the total number of outpatient clinics in 2008 has reached 631,100, and the operation volume is 66,400 cases, the outpatient quantity and the operation volume are the first in the same industry. Company through a unique "three-level chain" business model to enable its rapid and effective development, the overall scale and operating performance are to maintain rapid expansion and promotion. 2006-2008, the company's operating income composite annual growth rate of 51.55%, operating profit composite annual growth rate of 101.31%, outpatient volume compound annual growth rate of 29.68%, the operation volume of the composite annual growth rate of 42.38%. Companies rely on the advantages of talent, technology and management, with a large number of clinical experience of the core experts, through reliable diagnosis and treatment of quality, good medical services and in-depth marketing, so that the brand's market influence and penetration of love has been rapidly upgraded to become a national influence of the eye brand. This raise fund mainly expands 2 chain Eye Hospital, new 8 chain Eye Hospital and construction Company Information Management System project, with the expansion of the chain network, the first three years after the use of the average operating income is expected to be 201 million yuan, the company will inject considerable cash flow for the company's future performance of sustained growth lay the foundation.

North Land Pharmaceutical (300016): The dominant enterprise in the field of domestic contrast agent

The company's main business is drug production and drug sales, including pharmaceutical production, such as contrast Agent series products, hypoglycemic drugs and anti-anxiety of Chinese medicine, such as product production and sales. The company has long been focusing on the field of contrast, has been introduced magnetic resonance contrast agent-gadolinium injection acid dextran injection, CT contrast agent--iodized alcohol, and the first oral contrast agent-ferric ammonium citrate, in the field of contrast agent has a certain competitive advantage, and in China's radiation and related fields have a high visibility and market influence. The company continues to consolidate its competitive advantage in the field of contrast, but also actively explore the sugar-reducing drugs and psychotropic drugs market. The company launched the treatment of diabetes in the country two categories of new drugs---glimepiride urea, as well as anti-anxiety new drug nine-flavor town heart granules, of which nine taste of the Town of Heart granule is the first Chinese medicine to treat anxiety disorders, is expected to become a new profit growth point. Company products to stable and reliable product quality, reasonable prices and quality after-sales service, won the trust and support of the vast number of customers, including gadolinium injection of Dextran injection in the past three years, the market share has always been maintained in more than 40%, the market ranked first; the current sales volume and market share of iodized alcohol injection have leapt to third place. Companies to raise funds will be put into the contrast agent production line technology reform and marketing network construction, nine Flavor Town Heart granule production line expansion and reconstruction and marketing network construction, as well as new research and development Center and new product development of these three projects, the project will further enhance the company's core competitiveness.

Network accommodation Technology (300017): Internet platform provider spanning IDC and CDN

The company's main business for the Internet Business Platform Integrated services, that is, to provide customers with server hosting and network access, content distribution and acceleration, such as Internet business Platform solutions. Company's products can be subdivided into: CDN (content distribution accelerator network) services and IDC (Internet Data Center) services. Among them, to provide customers with server hosting and Internet access to the IDC business, as well as the content of the customer site to provide the distribution of accelerated services, improve the speed of customer Web Access CDN Business is the company's Internet platform services, the two core. The company's business, the fastest development is the CDN business, 2007 Year-on-year Growth of 181%, 2008 year-on-year growth of 240%, in the company's revenue accounted for 42%, the market share of the second, and the first gap in the year to shrink. Another 1DC business income accounted for 57%, the market share first, 2007-year income growth 60%, 2008-Year income growth of 63%, the company will rely on integrated services to form a differentiated, and constantly open up market segments to consolidate the status of the industry leader. The company serves the number of customers nearly 2000, is currently the market similar companies have the largest number of customers, customer industry coverage of one of the most extensive companies. The collection of funds to the streaming media and online network IDC platform for the construction and upgrading of CDN platform to upgrade two projects, the project will further expand the company's existing Internet platform, accelerate the company to customer penetration speed, conducive to the company to create an excellent Internet platform business provider strategic objectives to achieve.

China Yuan Huadian (300018): Power system two times equipment industry leader

Company's main business for the power system intelligent record analysis and time synchronization related product development, manufacturing, sales and services, products include power fault recorder, time synchronization system, power quality monitoring, power system instrumentation, mainly used in power systems and petrochemical, metallurgy industry, in communications, Rail transit and industrial control industries are also widely used in the future. The company has grown rapidly in recent years product profitability is good, in the fault recording system industry leader in market position, power fault recorder is the company's most important source of income, 08-year income accounted for 75%, the current domestic market share ranked first; time synchronization system in the domestic leading level, 2008-year income accounted for 17%, The company is currently the fastest growing business. The two business gross profit margin is maintained at about 58% and 46% of the higher level, the company's 2006-2008-year income composite growth rate of 24.3%, the first half of 2009 the company's revenue to achieve year-on-year growth of 28.6%. The power fault recorder is expected to maintain a high growth rate of around 25% by 2012 years, and the demand of time synchronization system is expected to maintain a high growth rate of 40%. The successful implementation of the fund-raising investment project will effectively enhance the company's product structure and enhance the market supply capacity. Provide strong support for future business development.

Silicon Technology (300019): Silicone room temperature adhesive production research and development and glue-making special equipment manufacturing integrated enterprise

The company is currently the only one set of silicone room temperature adhesive production, research and development and production of plastic-specific manufacturing equipment in one enterprise, the formation of silicone room temperature adhesive, glue-making special production equipment supplemented by the business structure, with a strong sense of innovation and technological innovation. The products are located in the downstream of the silicone industrial chain, widely used in building doors and windows curtain wall, energy saving and environmental protection, electronic power, automobile manufacturing, highway bridge and airport runway, Subway engineering, solar energy and other fields, higher value-added, better market prospects. Companies in the industry for the silicone industry, its products belong to special polymer materials, is the country's key to encourage the development of the object. In the domestic 3 major manufacturers of special-purpose equipment production enterprises, 2008 sales market share of the first, accounting for 38.3%, is the only current domestic production equipment for the export of plastic manufacturers. In 2006-2008, the company's main business grew well, earning capacity increased year by hour, the compound growth rate of operating income and net profit was 28% and 39%, respectively, 40.65%, 38.16%, 35.84%. The company participated in 11 national and industry standards for the formulation and revision, has issued 8 implementation, through the product key performance indicators in the country and industry standards to reflect the direction of the development of industry technology. The fund-raising project Tatsu production will increase the company's silicone room temperature adhesive capacity, expand the market share in the construction and automotive sectors, enhance the company's silicone room temperature adhesive field of competitive strength, expand market share, the expected level of gross margin in the future will be likely to decline to a reasonable level of profitability.

(China Galaxy Securities Co., Ltd. Investment Advisory Department)

(Source: China Securities Daily)