Precision technology shares far more than the price increase or lead investors to compete

12.94 Yuan issued a reserve price, 50.47 yuan of current prices, a huge profit margin or make the fine work technology (002006.　　SZ) This directional additional issue receives the investor to be very hot.　　Although the four-month rise has been more than twice times, but yesterday close, the precision work technology still to 870 million yuan of the transaction amount closed to trading, the same day turnover rate is also up to 13.63%.　　Raising capital to PV industry today, the fine work technology announced the revised Non-public issue of stock plans, the issue price is still not less than 12.94 yuan per share.　　The Non-public offering, the science and technology proposed to issue no more than 46.5 million shares, the issue is not more than 10 of institutional investors and natural persons. According to the fine work technology, the Non-public offering aims to achieve the goal of localization of PV equipment through the implementation of the capital investment Project, the formation of a series of solar polysilicon ingot furnaces and the capacity of solar polycrystalline silicon ingot-cutting machine series products and auxiliary equipment to further meet market demand.　　To solve the plant and power bottleneck restricting the capacity utilization of polysilicon chips, enlarge the production scale of polysilicon chips, realize the scale efficiency, strengthen the PV industry and enhance the comprehensive competitiveness of the company. In fact, the first proposal for the non-public offering of the technology was last September.　　Since the stock price was still below 15 yuan, its issue price was determined to be no less than 12.94 yuan per share at the base date of the current pricing.　　But since the announcement of the above Non-public offerings, its share price began to rise all the way, the highest ever reached 53.98 yuan.　　According to the current stock price and the company's development prospects, the non-public offering of the technology is highly likely to be welcomed by investors, and if so, its final pricing should be higher than its reserve price, at a relatively reasonable level. and precision technology also clearly said, "the issue price has been authorized by the shareholders general meeting of the company board of directors in accordance with the specific circumstances of the issue, in accordance with the principle of price first finalized." "But it is worth noting that, compared with the initial release plan, the revised plan, the expected fund-raising has been a sharp decline." Precision technology in the announcement of the plan, said, "the company's Non-public offering to raise the total amount of funds not more than 464.53 million Yuan", and in the initial issue of the plan, but said that "the company's non-public offering the net amount is expected to be 581.82 million yuan." The amount of money raised was significantly reduced by 117 million yuan.　　According to the latest total fundraising, even if the issue price is determined to be the minimum of 12.94 yuan, its issuance quantity is still less than 35.9 million shares, below the issuance limit of 46.5 million shares about 10.6 million shares.　　The agency helped push the stock price up. Although the participation in the precision technology directional additional may be able to achieve double the book yield, but there are many institutional investors can not wait, has been through the two-tier market to buy a substantial technology, but also helped push the precision of the technology price of the boom. In the fourth quarter of last year, the 2010 Annual report, which was released by the scientific and technological science and Technology of February 19, included private equity funds and a total of 6 institutionsTo buy, entered the top ten of the science and technology circulating stock shareholders list. Among them, Citic Trust Co., Ltd.-double surplus 8th at the end of 2010 has more than 1.5 million shares, the letter of the bank's leading growth fund and China growth Trend fund, such as three fund holdings are close to or reached 1.4 million shares.　　At the end of the three quarter of that year, the top ten circulating shareholders, in addition to the Zhejiang Provincial Science and Technology Development Center, the largest number of shares have only 670,000 shares.　　and the opportunity to increase the warehouse, in addition to the scientific and technological non-public release, another factor that can not be ignored is the company's PV equipment performance began to explode.　　According to the announcement of last year's third quarterly report, the market has revealed that the four-quarter main net profit will exceed the first three quarters of the sum. Consider the company's ingot furnace business growth, wafer capacity upgrade, its 2011-year performance will continue to improve significantly.　　Everbright Securities that the next 5 years, the global PV market should be sustainable growth of 40%, the proportion of PV equipment localization, the company also extends its product line in the field of photovoltaic equipment, the company is expected to maintain the PV equipment business will be more than 5 years more than 50% of the composite growth. The 2010 Annual report of the actuarial science and technology show that its profitability is far beyond expectations. Dongxing Securities noted that at present, the company has become the leading manufacturer of polycrystalline silicon ingot furnace industry in China, the company continues to develop the polysilicon PV manufacturing industry, and the future volume sales of the integrated products such as root machine and so on will ensure the company's future high profits. The upgrading of PV equipment and the maintenance and service of the core parts　　Will further broaden the company's product market space; On the other hand, the company actively involved in building energy-saving equipment manufacturing field, to create another core of the future development of the company. For the non-public issue of the two fund-raising projects, precision Technology also gives a profit forecast, of which, an annual output of 500 units (sets) of solar photovoltaic equipment manufacturing and expansion project built up to the postpartum, an average annual increase in operating income of 731.62 million yuan, the total profit of 130.07 million yuan　　, Zhejiang jinggong New energy company relocation and solar polysilicon slicing production line technical transformation project completed to the postpartum, the average annual increase in operating income of 466.67 million yuan, the total profit of 36.42 million yuan. Despite its good prospects, dongxing securities gave a "strongly recommended" investment rating after its annual report, but Dongxing Securities also pointed to its negative factors, namely whether the global PV industry could maintain a high growth rate and whether the domestic PV market could start as expected. Photographer/Jin Yuming