Yongda Technology LCD Project is the next 3 years to watch

With two projects of the TFT LCD and the west Side chain project, the business structure of YONGDA technology (002326, closing price 55.50 yuan) will be closer to the liquid crystal chemicals and two directions of medicine. Tft LCD Project is the company's next 3 years the biggest aspect. Tft LCD has become the market mainstream display, accounting for more than 90% of the share, and the future will continue to grow by 15%-20%, is expected to 2012, the global demand for monomer LCD will be close to 800 tons.　　TFT LCD project has no large-scale domestic manufacturers to participate in competition, and the company to use existing customer resources and cooperation agreement to ensure the future sale of products, the project put into production, the company is expected to usher in the explosion of growth opportunities. Establish a partnership with Merck the company's current liquid crystal chemicals are mainly used for the production of liquid crystal monocrystalline materials intermediates, and TFT LCD series is in the company's current liquid crystal chemicals business based on the further extension of the industrial chain, to the field of monocrystalline materials, New products can be directly used in the modulation of mixed crystal materials and mainly for the production of TFT liquid crystal display.　　It is expected that the future large size TFT LCD panel shipments will continue to grow at an annual rate of 15%-20%, TFT liquid crystal display future prospects are very broad. The company raises the investment project The big single crystal product l1~l5, does not have the domestic manufacturer to carry on the large-scale production.　　This provides a good market opportunity for the development of the company. Companies to use over the years in the sale of liquid crystal chemicals established sales network, with the world's leading LCD material manufacturer of Germany Merck Group has established long-term and stable relations of cooperation.　　TFT LCD Project completely put into production, the market price of 5 million yuan per ton ~1000 million, conservative in accordance with 5 million yuan/ton price calculation, the reference market average of 50% gross profit margin, the project can bring the company 203 million yuan gross margin, is the company's 2009 gross margin of 1.5 times times the amount.　　Rapid growth of pharmaceutical chemicals from the company's main revenue growth, the fastest growth of pharmaceutical chemicals, and the rising income ratio, from the 2006 39.29% to 2009 57.2%, is the focus of the company's future development. The company's west Side chain project products are mainly used in the production of Ⅱ-type diabetes in the new drug. Since the advent of the product in 2006, market demand has been rising, the sales of this product is expected to reach 1.97 billion yuan in 2011, and the product accounted for the world's major diabetes treatment drug share will increase to more than 20%. The company has achieved the production and sale of the product before the investment project, according to the price of 750,000 yuan/ton, 40% Gross profit margin calculation, the project fully put into production, will realize the gross margin of 18 million yuan. These high value-added new products will become the company's main profit growth point in the future, and greatly enhance the company's profitability. Great Wall Securities