Power transmission and transformation industry leading special transformer will be divided into "Xinjiang Power East Loss"

Special variable Electrician (600089. SH) is one of the only two listed companies in Changji, Xinjiang.　　As a leading enterprise in the domestic power transmission and transformation industry, and also the concept of new energy, whether, and how to benefit from the revitalization of the plan? A number of analysts believe that the Xinjiang regional revitalization Plan issued to the special change electrician is undoubtedly a positive.　　On the one hand, the demand of transformers, power cables in the urban construction process is bound to increase, more importantly, the East power transmission will lead to the transmission and distribution equipment demand greatly increased.　　Special Transformer main income by transformers, wire and cable, solar energy systems engineering and solar wafer three components, of which the transformer business accounted for 60%, wire and cable business accounted for 17%, solar wafer and solar energy systems engineering business accounted for 10%. "In the domestic transformer industry, the company has been firmly seated in the leading position." "The Great Wall securities new Energy power equipment industry analysts recently accepted the" First financial daily "reporter interviewed, said," in 2009, the State Grid announced the successful bidder, the company occupies about 20% of the share. "A brokerage industry analyst in an interview, said:" Because the transport costs are too high, Xinjiang local coal can not be shipped out, so to repair a lot of power plants, the coal in situ into electricity, transmission through the grid.　　"It is widely expected that strengthening the transformation of Xinjiang's advantageous resources will be an important part of regional revitalization planning." According to Xinjiang 2010-2015 years of power supply capacity and power grid upgrade planning, the next 5-10 years installed capacity is expected to increase 20 times times, Xinjiang large capacity transformer market scale will reach 3 billion ~40 billion, and the company's transformer business in Xinjiang region market share has reached 60%~70%,　　There is a marked increase in future orders. Dongxing Securities an analyst also believes that the use of electricity is often seen as a reference indicator of economic development.　　As long as local demand for electricity is growing, the market for large-scale thermal power projects and hydroelectric projects is certainly growing, and the companies will benefit from the growth of the company's wire and cable markets. However, some analysts pointed out that the company is already the industry leader, the market share may be difficult to further expand, so from the point of view of value investment is particularly good companies, but under the Xinjiang regional revitalization plan may not be the best investment target. Because a company's benefits may not be as obvious as a small company.　　Although the company's leading position is established, the growth rate is likely to slow down. In addition to the company is a leader in Transformers, but also has a large number of coal resources.　　Han Ling, the bank's international analyst, said in the report that the company has more than 10 billion tons of production of high-quality open-air coal mine, but the coal mining rights are still awaiting the approval of the state authorities, is expected to be approved after the company's coal mine output can reach more than 5 million tons. In the new energy sector, affected by the macro environment, upstream raw materials are facing bottlenecks and high prices, making the company's business relatively weak. The company's solar wafer and components business gross profit margin is only 5.96%, the profit situation is not very satisfactory. The company's securities staff, Mr. Wei, interviewed by reporters, said the company more than 1500 tonsAfter the production of crystalline silicon, can solve the upstream raw material problems.　　Industry analysts believe that the future of polysilicon generation cost effective decline, it is possible to become the company's new profit growth point. The company's current orders are adequate, according to Mr. Wei, as at the end of 2009 the company has 17.3 billion yuan of orders.　　This means that the company's performance this year has a certain amount of protection. Annual report shows that at the end of 2009, the company's earnings per share of 0.85 yuan, with the company's share price recently with the market adjustment, from the top of the November high 26.12 yuan to May 18 the low point of 16.3 yuan, the adjustment margin of nearly 40%.　　According to the May 19 closing price of 17.29 yuan, the current static P/E ratio of nearly 20 times times, oversold very obvious, there is a considerable margin of safety. According to the great wisdom of statistics in the past six months, the various institutions of the special transformer for the future earnings forecast for each share: 2010 1.07 yuan, 2011 1.31 Yuan, 2012 1.48 yuan.