Topic: Industry Finance According to the latest report from KGI, the report believes that Sanan Optoelectronics is the main beneficiary of “Semiconductor Lighting Energy Conservation Industry Development Opinion†and the business has a concept of energy conservation, so the rating maintains “overweightâ€.
In 2009, Sanan's net profit growth in the first three quarters will exceed 300%. LED production capacity will continue to maintain high utilization rate. It is estimated that the LED business unit will still maintain a profit of RMB 30-40 million in the third quarter, and recently received financial revenue. The subsidy was 49.735 million yuan. Considering that the high growth period of China's LED industry has been established, and LED and CPV systems still have the opportunity to continue to receive state financial subsidies in the future, KGI expects LED business growth rate to reach 35% in 2010-2011, and increase it by 09-10 years. Financial estimates: Revenues in 2009-10 were 475 million yuan and 942 million yuan respectively, up 123% and 98%, net profit was 163 million yuan and 227 million yuan respectively, up 209% and 39%, EPS was 0.59 respectively. Yuan and 0.82 yuan. In addition, the Sanan business has a concept of energy conservation. The Chinese PV market and the semiconductor lighting market are in a golden cycle in 2010-2015. The requirements for localization rate are beneficial to Chinese companies. The research department estimates that the 2010-2011 EPS will reach 0.82 yuan and 1.35 yuan, KGI raised the company's target price to 37.9 yuan (equivalent to 35 times the PE ratio of 2010-2011 EPS), the rating maintained "overweight."
China is the world's largest production base and consumer market for TV, consumer electronics, and lighting. It is also the semiconductor technology development trend issued by the six ministries and commissions of the National Development and Reform Commission. It also establishes the rapid growth of China's semiconductor lighting industry. The period has arrived. Among them, the 70% localization rate for chips is more favorable to Chinese local manufacturers. Sanan, Silan Micro and Lianchuang will all be beneficiaries, and newcomer Dehao Runda can also pay attention. Sanan is the leader in China's LED chips and will be the main beneficiary of China's semiconductor lighting standards.
In 2009, Sanan's net profit growth in the first three quarters will exceed 300%. LED production capacity will continue to maintain high utilization rate. It is estimated that the LED business unit will still maintain a profit of RMB 30-40 million in the third quarter, and recently received financial revenue. The subsidy was 49.735 million yuan. Considering that the high growth period of China's LED industry has been established, and LED and CPV systems still have the opportunity to continue to receive state financial subsidies in the future, KGI expects LED business growth rate to reach 35% in 2010-2011, and increase it by 09-10 years. Financial estimates: Revenues in 2009-10 were 475 million yuan and 942 million yuan respectively, up 123% and 98%, net profit was 163 million yuan and 227 million yuan respectively, up 209% and 39%, EPS was 0.59 respectively. Yuan and 0.82 yuan. In addition, the Sanan business has a concept of energy conservation. The Chinese PV market and the semiconductor lighting market are in a golden cycle in 2010-2015. The requirements for localization rate are beneficial to Chinese companies. The research department estimates that the 2010-2011 EPS will reach 0.82 yuan and 1.35 yuan, KGI raised the company's target price to 37.9 yuan (equivalent to 35 times the PE ratio of 2010-2011 EPS), the rating maintained "overweight."
China is the world's largest production base and consumer market for TV, consumer electronics, and lighting. It is also the semiconductor technology development trend issued by the six ministries and commissions of the National Development and Reform Commission. It also establishes the rapid growth of China's semiconductor lighting industry. The period has arrived. Among them, the 70% localization rate for chips is more favorable to Chinese local manufacturers. Sanan, Silan Micro and Lianchuang will all be beneficiaries, and newcomer Dehao Runda can also pay attention. Sanan is the leader in China's LED chips and will be the main beneficiary of China's semiconductor lighting standards.
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