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Our main optical monitoring and control Apparatus Equipment and optical materials, major shareholders is the largest Institute of Chinese Academy of Sciences, is the oldest of our optical field of research, known as "the cradle of China's optical" in the vital area of our optical technology. Company in 2008 revenue and net profit of 1.7 billion yuan, 35.23 million yuan, gross margin and net profit margin was 46.36%, 21.94%. Average revenue growth of nearly two years, more than 20%, gross margin and net profit margin level of the overall upward trend. Optical monitoring equipment is the company's main source of revenue and profits, 2009H1 proportion of income and gross margin were as high as 85.47%, 95.57%, gross margins as high as 51.86 percent. Downstream customers are national defense scientific research units, military industrial enterprises and the military, according to orders for production, price of the implementation of the military trial system price. Optical monitoring equipment in the military field as a high-tech defense equipment. With the modernization of China's national defense, national defense, a large part of investment will be used for procurement of sophisticated defense equipment, optical monitoring equipment market is enormous. 2001-2004 alone, the state invested Chinese Academy of Sciences on the development of optical measurement and control instruments and equipment expenses reached 41 billion this year, 2006-2010, the funds will reach 6 billion yuan. Optical monitoring equipment manufacturing industry is integrated optics, optoelectronics, information processing and precision machinery and other cutting-edge technology and technology-intensive industries, while the industry product and more products for the military, need to implement strict military standards. Industries with high technology and qualification barriers. Optical monitoring equipment industry enterprises are mainly Chinese Academy of Sciences as well as relevant military production, the units responsible for different types of products, competition is not obvious. Among them, the Chinese Academy of Sciences Institute and its affiliated companies are related to the industry's main production unit, the company accounted for the CAS system, optical measurement and control instruments of national defense share of over 40%. Advantages reflected in the shareholder advantage, technological advantage and location advantage. This to be raised 171 million yuan, respectively, optical measurement and control equipment for industrial projects, new medical testing equipment production line construction projects to meet current defense needs of the new requirements, and part of the conversion. The construction period is 1-1.5 years. Expects the next two years to maintain a rapid growth ,2009-2011, EPS were 0.53,0.60,0.79 dollars. 25-30 times according to the starting PE, based on forecast results for 2009, the proposed inquiry interval (13.25,15.90) element; forecast based on 2010 performance, we believe that the price listed on the first day interval (16.19,19.79) dollars. Risk factors: exposure to fluctuations in military orders, and management mode conversion risk, the risk of brain drain. We are high quality suppliers, our products such as Pneumatic Butterfly Valve , Pneumatic Butterfly Valve for oversee buyer. To know more, please visits Wafer Type Butterfly Valve.
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