The hottest XCMG technology asset injection create

2022-07-30
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XCMG technology asset injection creates a new giant in the construction machinery sector

XCMG technology asset injection creates a new giant in the development and design of new products

China Construction Machinery Information

Guide: after this capital operation, XCMG group, etc; The largest electronic all-round testing machine in China, with an experimental capacity of 600kN and a grade 0.5 machine), and the main high-quality assets of XCMG machinery have basically entered the listed companies, so as to realize the market-oriented pricing of XCMG's value. After injection, XCMG technology became a top listed company in the construction machinery industry. The injected Xu Zhong has an indisputable reality in the construction machinery industry

after this capital operation, the main high-quality assets of XCMG group and XCMG machinery have basically entered the listed companies, so as to realize the market-oriented pricing of XCMG value

after the injection, XCMG technology became a top listed company in the construction machinery industry. Xu Zhong, who has been injected, has indisputable strength in the construction machinery industry and is the first enterprise in the domestic construction machinery industry with an income of more than 10 billion yuan. Its domestic market share of truck cranes, fire engines and crawler cranes ranks first, and pump trucks rank third. In addition to XCMG, the new company also has a high market position in truck mounted cranes, road rollers, loaders and small construction machinery. After the injection, the new company ranks first in the industry in six fields, and its product line will be the most comprehensive and strongest among the listed construction machinery companies at present

as Xuzhong contributed major profits, the growth of the new company in recent years still depends on the crane business. China's construction peak has driven the boom in the demand of the crane industry, with an average annual growth rate of about 25% in the past five years, and the market still has room for development. At present, the downstream rental yield is still high, and domestic demand can be seen for at least another five years. The export growth of the industry is also very rapid. In 2007, the export volume reached 20% of the total sales volume, and the export regions are mainly concentrated in emerging economies such as Asia. In the history of international demand, it is mainly renewal. In recent years, the collision with new demand has brought global industry prosperity. The capacity of crane giants is seriously insufficient, which has brought rare opportunities to emerging enterprises such as Xuzhong. Over the past five years, Xuzhong has achieved an average annual growth of 30%, higher than that of the industry, and its market share has been continuously increasing. It is expected that the benefited industries will be prosperous, and their export and domestic demand are expected to maintain growth

according to our assumptions, if the statements are consolidated for the whole year from 2008, the net profits of new XCMG technology are expected to be 1 The equipment provided is about 1.33 billion and 1.67 billion original machines ordered by users. Calculated by the new share capital of 885million after the issuance, the EPS of the years after the issuance is one life road respectively 5. 1.89 yuan. Compared with the existing Zoomlion and oneortwo giants in the construction machinery industry, XCMG is not inferior. The income growth fluctuation and the recovery risk of accounts receivable are very small, so it should be given a higher valuation. We suggest that the target P/E ratio is more than 15 times, the target price is RMB 22.5, corresponding to the market value of RMB 20billion, and maintain the initial increase proposal

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