Wei Xing shares: the main business has improved

Sina tip: This article belongs to a stock comment column, only for securities consultants on the relevant stocks or plates of personal views and analysis, and informal news reports, Sina does not guarantee its authenticity and objectivity, investors operate on the basis of risk.　　For accurate information about the unit, please refer to the Bulletin of the Shanghai and Shenzhen Stock Exchange. The Galaxy Securities company remains highly critical of its customers.　　Rely on button industry leading position advantage, Wei star has been highly critical of customers, among them, small customers accounted for very little, even if the orders are mainly high gross margin, payment does not exist any problems of enterprises; even large customers, if the payment requirements can not meet the company's requirements, it is difficult to become a Wei star customers.　　Earnings forecasts and investment advice. The company's 2009, 2010-year income is expected to be 1.646 billion yuan (+11.43%), 1.91 billion yuan (+16.01%), the net profit is 183.9 million yuan (+17.6%), 220.2 million yuan (+19.7%), EPs are 0.91, 1.09 yuan respectively. According to the star's cash flow, growth, and the current market average valuation level, we think that should be given to Wei star 2009 20X valuation, corresponding to the value of 18.2 yuan. Maintain a "recommended" rating.