The hottest leading enterprise of construction mac

2022-10-24
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Sany Heavy Industry: a leading enterprise of fast-moving construction machinery

Sany Heavy Industry: a leading enterprise of fast-moving construction machinery

China Construction machinery information

Guide: Recently, I went to Sany Heavy Industry to conduct field research and have in-depth communication with the management on the company's development status and future planning. The key points of the research are as follows: 1 The company's development of tensile test in 2011 is a simple method to test the mechanical properties of plastic packaging materials. It is also an important indicator to evaluate the plastic bucket packaging materials. The prospect is still optimistic. With the continuous expansion of the company's product categories, the short-term plan still maintains an average annual growth rate of% in recent years

recently, I went to Sany Heavy Industry to conduct a field survey and have in-depth communication with the management on the company's development status and future plans. The key points of the survey are as follows:

first, the company is still optimistic about the development prospects in 2011. With the continuous expansion of the company's product categories, the short-term plan still maintains an average annual growth rate of% in recent years

at present, the company's main products include: concrete machinery, excavators, truck cranes, piling machinery, road machinery and other engineering machinery products. The operating revenue of Sany group in 2010 has exceeded 50billion yuan. The group plans to have an operating revenue of 80billion yuan in 2011, and its sales target in 2012 is to exceed 100billion yuan

at present, most of the company's main products are in the forefront of domestic peers: the company's sales of concrete machinery have ranked first in the world for several consecutive years, and its market share in China is about 55%. The company's excavators have developed rapidly in recent years. At present, the performance of the products has reached the level of similar products in the world, which is higher than that of Hyundai in Korea and slightly lower than that of Komatsu in Japan. The market share of excavators also continued to rise, from 7% in 2009 to about 8.5% in 2010. The R & D Department of the company is expected to effectively improve the dependence on imports of key components such as engines and hydraulic parts of excavators during the year, strive to achieve self-production, improve the core competitiveness of the company with international competitors, and expand domestic market share

second, high-speed rail, affordable housing and urbanization construction are still the power sources to promote the development of construction machinery. In recent years, the urbanization of rural population in China has led to the acceleration of urban construction. The state promotes the construction of affordable housing to ensure people's livelihood, and the rapid promotion of high-speed rail construction, providing good development opportunities for the company's construction machinery

the company's concrete machinery, pavement machinery, piling machinery and hoisting machinery have certain performance. In the field of pavement machinery, the new asphalt mixing plant launched by the company in recent years is a product specially designed and launched according to the characteristics of high-speed railway construction. At present, the sales scale is euro 100 million. The rotary drilling rig in the field of piling machinery is growing at an average annual rate of%

III. The company has continuously refined its software fields such as management, culture and services, providing strong support for the stable and rapid growth of performance. The internal management of the company is rigorous, and the overall culture is positive, and the rich profits over the years effectively ensure the in-depth refinement of various functions. For example, the company has invested a lot in after-sales service. At present, it has established nearly 10 6S stores, effectively strengthening after-sales service, maintenance and other functions 028w/mk, and the company is further promoting the expansion of the 6S store model

IV. the construction of the company's overseas bases has been completed in succession and gradually entered the harvest period. The company has invested in four overseas bases, including the U.S. base and the German base, which mainly focus on research and development, mainly absorbing local high-tech talents to provide impetus for the company's new product research and development and technological improvement. The Indian base and the Brazilian base mainly focus on production and sales. At present, the Indian base has a certain sales volume, and the Brazilian base also has a small batch of products offline. It is expected that the Indian and Brazilian markets can effectively enhance overseas sales in 2011

v. the issuance of H-shares by the company has gradually reached a climax, which will provide a strong impetus for the rapid development of the company. The company raised the expected issuance limit of overseas shares to about 15billion yuan. It is expected that after the completion of the 2010 annual report, the issuance of H shares will become the top priority of the company's work and will be promoted rapidly. The issuance of H shares of the company will provide a strong impetus for the rapid expansion of the company

VI. profit forecast. We believe that the company is a leading enterprise in the field of construction machinery in our country. With strict internal management and active culture, we pay attention to R & D investment when there is residual gas in the filling pipe or residual liquid in the filling pipe. The development of the international market and the issuance of H shares give the company products a significant boost. Valve springs ensure that the valves are seated in time and closely fit the exhibition space. The company is expected to maintain a rapid development speed in a few years. We predict that the EPS of the company in 10 years, 11 years and 12 years will be 1.15 yuan, 1.67 yuan and 2.17 yuan respectively. Based on the closing price on February 18, the corresponding PE will be 20x/14x/10x respectively. We give a "buy" rating for the first time, and give a PE of 19 times in 11 years, with a target price of 31.73 yuan

VII. Investment risk. The price of raw materials such as steel fluctuates sharply, which will increase the cost pressure of the company; Overseas market development is greatly influenced by regional politics

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