Shenzhou Thai Yue Market value of 400 million Yangxin pass

Gem, as always, the interpretation of the legendary high market value.　　April 13, the Gem 65 shares fell 63, the average decline reached 8%, 24.948 billion market capitalisation evaporated, equivalent to the end of the day, the value of the panda fireworks 10 times times.　　As of April 13 closed, a-share market hundred yuan shares a total of 11, and only the Shenzhou Thai Yue alone 200 yuan share the sole seat. In 11 hundred Yuan shares, the gem shares a total of five, the SME board accounted for five, the market stocks only the remaining Guizhou Maotai.　　The Hundred Yuan stock of gem is left only Shenzhou, Wambonda (300055.SZ), Robot (300024.SZ), Red Sun Medicine (300026.SZ) and Century Ding Li (300050.SZ).　　Shenzhou Thai Yue 4 times times the market value of super billion-Yang communications Shenzhou Thai Yue and billion Yangxin Tong (600289.SZ) The fundamentals are roughly the same, while the same industry of the Shenzhou Thai Yue market capitalisation is four times times the market capitalisation, two listed companies of the market value of 27.5 billion and 6.4 billion respectively. 2008 Shenzhou Thai Yue Gross profit margin and Yangxin Tong is roughly the same, respectively, 50.36% and 50.27%, the gap between the two is very small.　　In 2009 years, Shenzhou Yue net profit surged 124.6%, the gross profit margin from 2008 50.36% to 73.62%, while in the same industry to do the same business billion Yangxin pass only from 2008 50.27% to 2009 51.17%. In the main business expansion of limited, mainly rely on mobile flying letter business conditions, it is difficult to imagine the Shenzhou Thai Yue in the next few years will continue to maintain speeding growth.　　It is expected that 2010, the Shenzhou and billion Yangxin Tong, will enter a stable growth, high margin status, and the past high growth premium will no longer exist. Dongxing Securities computer industry analyst Wang Yuquan said, "Shenzhou Thai Yue and billion Yangxin tong business similar, are communication network business support system."　　In the former market, we think that the intrinsic value of China Thai Yue is 200 yuan, the current stock price has exceeded its intrinsic value, the future is very low probability of continuing.　　Wambonda market capitalisation of the same industry February 26 listed Wambonda to meet the current concept of environmental protection and energy needs, in the capital market all the way.　　In the field of environmental protection of nine enterprises, Wambonda to 11.264 billion of the high market value, ahead of the industry in the entrepreneurial Environment (600874.SH), combined with resources, the Dragon Net environmental protection, the Central Plains Environmental protection, St Country medium stock, created a gem of another myth. But the same industry's entrepreneurial environment has revealed the Wambonda risk. 2009 Annual business Environment Net profit 243 million, Wambonda net profit is only 81 million.　　But three times times the net profit of Wambonda, but less than the market value of the 20%.　　The same situation is also confirmed by the combination of resources, the financial data of the Dragon Net environmental protection.　　Robot Hurricane Radio Express another hundred unit "robot" with its own innovative technology, in the field of industrial automation has a certain influence. ButThe industry's demand for equipment is relatively stable, which can be seen from the robot's operating income for nearly three years.　　2007 robot income 280 million, 2008 year income 390 million, 2009 year income is 470 million, the revenue compound growth rate is only 30%.　　We use the same automation in the field of radio and Television Express (002152.SZ) comparison can be found, radio and television express market rate of 8, and the market sales rate of the robot is 14.13. Over the past three years, the composite growth rate of operating income is 38%, and the net profit compound growth rate is about 30%, similar to the robot fundamentals.　　But even if radio and television express enjoy the premium of the SME board, Radio and Television Express is still inferior to the comparison of listed P/E. As of April 13, the price-earnings ratio of the 30.9, the robot is 103, highlighting the gem's huge "advantage." Mr. Lu Yongguang, the Zhongyuan securities firm, expressed concern at the current high market value, "the robot is a very good company in terms of fundamentals." But at the moment it is really overvalued and there is a lot of risk.　　"Red Sun Medicine plate Small, the market value of high sun, with its blood will be net and Fasudil and other exclusive drugs, stand a high price, with 50 million of the equity capital to support nearly 6 billion of the market value."　　And through contrast is not difficult to find, the Red Sun Pharmaceutical market sales rate reached 20, and the same industry motherboard listed Heng Rui Medicine (600276.SH) only 10.13, Yi Bai Pharmaceutical (600594.SH) for 4.17, North China Pharmaceutical (600812.SH) for 2.75, far below the Red Sun pharmaceutical market sales rate. Shanghai's (002252.SZ), which has a smaller market value than the red sun, has a total equity of 160 million.　　Red Sun Pharmaceutical market sales rate of 20, Shanghai is only 17.7, is enough to be seen how strong the red Sun pharmaceutical industry.　　Zhang Hongbin of Datong Securities said that the red Sun medicine in the market segments have a certain degree of monopoly, two exclusive products for the Red Sun Pharmaceutical industry has been given to the high growth of the expected. "The current market value is still overvalued a lot, the stock price cut 20%~30% to reach a reasonable price range."　　Zhang Hongbin told reporters.　　Century Ding-li only lost to the China Unicom century Ding Lee is the SFC industry classification of the Communications Service industry, the main business is to provide a mobile network optimization test analysis System products. In the same industry, there are China Unicom, Century Ding Li, Guomai technology, Shanghai Jinling, Jinma Group, north latitude Communications and other enterprises.　　Century Ding Li's 8.1 billion market capitalisation has already surpassed China Unicom other industry board listed enterprises. Is it surprising that China's gem, like Nasdaq overtaking the NYSE, is entering a channel beyond the motherboard? As the robot's securities representative said, "This is not a matter for individual companies, but the whole gem plate problem."