Shinfat technology directed to add more than expected assets re-injection there is still hope

January 12, 5 minutes after the morning opening, the Big Bill will (600391) pushed 27.10 Yuan High, the share price rose to 9.36%. This is just a microcosm.　　The recent gradual heat of the military sector as a member of the technology has been the pursuit of funds, but also in the second half of 2010 to focus on the formation of technology to return to the industry's attention.　　However, as far as the investment value of the technology is concerned, the industry does not seem to be very optimistic, mainly because it is well below the expected directional issuance programme. "The market is the hope that the technology one-step into the aircraft and Cheng Fako, which was not considered in the previous shareholders ' meeting."　　January 13, Li Zhiwei, director of science and Technology, said to reporters that asset integration is a step-by-step process, the directional add-add program does not mention the Cheng Fako can not be without the hope of loading. The directional issue of additional things to be said from April 2010, last April 29, into the technology in the suspension of the business half a month after the announcement of its private additional plans.　　On the day of the stock recovery, the technology did not continue the strength of the previous capital market, but the sharp decline, two consecutive drop plate, in 3 trading days, the share price fell about 25%.　　Shinfat Technology This non-public offering is intended to be used for joint ventures to establish the China-Kazakhstan axis project, the acquisition of the company's aero-engine business assets and aero-engine and gas turbine casing, blades, sheet metal and Heat table Specialized Center construction (phase I) project three parts. "There is a reason for disappointment, before the market expectations higher, that the asset injection will Cheng Fako can be loaded with the aircraft into the air, but the result is not the wish."　　CIC Securities analysts told reporters. It is precisely the expectation of investors that the Cheng Fako can not be injected into the technology.　　It is understood that Cheng Fako began to explode in 2007, 2008 sales revenue of more than 500 million yuan, 2009 also around 800 million. Hongyuan Securities industry analyst Shangjian pointed out: "The group is actually controlled by the Chinese aviation industry Group, while the company also has a common control of China Huarong Asset Management company." This means that China aviation industry in the disposal of the assets of the group need to obtain the joint control of the Chinese assets of the agreement, before they can successfully enter the next step.　　"In other words, two of the shareholders of the asset disposal of the divergence of views is the key to the issue of technology-oriented additional power."　　Secondary market, the stock price of the first half of 2010 from the high 32.35 yuan/shares down to the beginning of July of 14.10 Yuan/shares, the stock price once binary.　　Future can still Cheng Fako the accident, even let industry analysts on the positioning of the technology into doubt. Southwest Securities analyst Panglinglin held a more pessimistic attitude, "from the actual operation, only the group has the intention to inject is not enough, but also in line with the overall development planning of AVIC Industrial group." This time no injection of Cheng Fako can be estimated from the higher level of AVIC Industrial group planning considerations, estimated follow-up injectionis also very difficult. "An analyst at CIC also holds the same view:" From the point of view of directional additional content, the technology is not the group to build an integrated platform for engine transmission, people feel that the company's business is very marginal, Cheng Fako can be injected again is not very likely. "The positioning of attains technology, Li Zhiwei said the problem" to the Headquarters consultation. But he does not think that Cheng Fako can be loaded with no hope.　　Li Zhiwei stressed that the group in the company's share reform has made "timing gradually inject high-quality assets commitment", and said to the technology of the targeted additional high expectations. Shangjian also told reporters, "the outside expectations are too high, in fact, targeted additional programs can bring a lot of positive." "Shangjian that the two-yuan equity structure of the group makes the group's quality assets Limited, so in order to be able to use the existing platform for more effective integration, AVIC industry and its affiliated engine companies to the existing AVIC Kazakhstan axis project into the platform of the development of technology, so that not only to further improve the industrial chain of AVIC, a link, What is more important is to project the integration direction of the AVIC industry on the platform of attains technology, and its potential injection target gradually emerges.　　In addition, the further advance of the project will gradually show the strong profitability of the technology. In fact, in the second half of 2010, industry analysts have significantly reduced their research reports on technology due to lower-than-expected announcements of targeted issuance and the company's lackluster performance. A long-term focus on the technology of the analyst told reporters: "I see into the technology of the Dong Secretary many times, I think he said, although the forceful, but there are a lot of helplessness behind." "Company Profile technology is a production of aero-engine parts business." Company's products include blades, casing, ring parts, combustion components, and its performance and quality fully reached the current international level of similar products.　　Major foreign customers include the United States General Electric Company, the United States, Trinidad and export special-purpose, British Rolls-Royce and other internationally renowned enterprises. The company's main aero-engine and gas turbine components, pneumatic V-shaped draft device is mainly used in loom, has accounted for the domestic market share of 70%-80%.　　Large shareholder into the hair group is the production of aviation High-tech products mainly of large state-owned companies, the production of the main components of the No. 6th engine by the exclusive supply of technology.　　Future study plate small attention and many although small plate, but to research, manufacturing, processing, maintenance and sales of aero-engines and components of the main business of the technology is not lack of institutional attention. The company's three quarterly reports show that the value growth of the mixed securities investment funds, Bo time balanced allocation of mixed securities investment funds, the growth of domestic demand flexible mix of securities investment funds, Warburg Trust Limited liability company, Northeast Securities Co., Ltd., Xinhua Life Insurance Co., Ltd., the wealth of the financial universal Insurance, National Social Security Fund 109 combination, Lion Stock Securities Investment Fund, the core advantage of the surplus flexible allocation of hybrid securities investment funds areList of its shareholding institutions, the total number of institutions holding 7.7262 million shares, accounting for the proportion of the circulation of 10.76%. In the recent weakness of the market, the trend of technology has been strong. December 28, 2010, into the technology in the lowest share prices to 23.23 yuan after the start exerting force, out of the current market difficult to see the eight Lian Yang. January 7, the stock tail was suddenly a big single pull up, the stock price breakthrough 26 Yuan pass.　　In the subsequent two trading days, the technology has a callback, until January 12, by the four-generation flight test news, a boost to the opening of the technology to attract a large number of the bill, once Yong sealed trading, the highest share price touch to 27.10 yuan, become a few bright spots in the stock. In this regard, Shanghai Hongda Investment Management Co., Ltd. General manager Zhang Yunyi that: "The recent attention to the four-generation machine, so that the capital market also to the military sector to favor the small plate of the technology was selected to become speculation is not unusual, but from the performance, the stock is not a bright spot." "China's active fighters 10- -10" is the first fully independent of our own intellectual property rights fighter aircraft, 2005 formally equipped with troops and in a very short period of time to form a system, the formation of a systematic combat, the West will be fighter-10 divided into a typical third-generation fighter, Think it is China's first equipment of the third generation fighter aircraft, the first domestic fighter with a real air superiority and dual combat capability, the successor of fighter -10 is being gradually introduced, and some local details of the fuselage have been improved, which makes the performance of the aircraft greatly improved.