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Cheng Fei integration Car Mold Orders increase in the demand. As a measure of car Mold An important indicator of business orders, the company accounts for 2009 an increase of 44.99 percent advance that the rise in car sales as the company's automotive mold orders demand. However, delayed by the impact of revenue recognition, operating income improved automobile mold may be delayed until the second quarter of this year. 2009, the company achieved operating income of 181 million yuan, down 15.98%; a total profit of 4,771.42 million, an increase of 1.41%; net profit attributable to parent company, the owner of 4,178.07 million, an increase of 1.77%; diluted earnings per share income was 0.32 yuan, and 2008 unchanged. Overall, the company's full year profit in 2009 were lower than the first three quarters year on year growth. Profit distribution to get 2 shares for every 10 shares 4 shares increase by transferring to send cash 1 yuan. 2008 fourth quarter automotive revenue recognized in mold operations substantially increase the company's revenue growth this year than the first three quarters of the main reasons. Domestic production is one of the leading car mold, mold business income share close to 60%. Car mold for the one-piece custom-style production, processing cycle generally 8-12 months, so revenue recognition generally has about 9 months of delay. 2008 fourth quarter operating income of 9,338.74 million, compared with 2,451.98 million for the same period this year, mainly because of early 2008, orders for more than a car mold orders in early 2009, not the company's profitability is poor. Foreign NC business continues to grow steadily. The company's CNC machining business primarily for the group process of Xiaolong fighters of the structural parts, business income and gross margins are more stable. Die in car orders downturn, the company actively seek overseas orders for CNC machining, and have achieved certain results?? 2009 NC revenue of 1.01 billion yuan, an increase of 21.46%. We believe that operating income in the automotive mold has not improved the situation in the short term, the steady growth of CNC machining operations will become a stable source of revenue. Accelerate construction of the subsidiary, with a bright future. By adjusting raised funds, companies and joint ventures associated with Chery to set up new companies (companies owned 55%), mainly to Chery supporting outer mold, low-volume vehicles such as mold and white body parts. The new company is expected to contribute to earnings as early as the second half of this year. 2010 and 2011 earnings per share were 0.40 yuan and 0.45 yuan. To March 17's closing price of 20.08 yuan, the dynamic price-earnings ratio for the year corresponding to 51 times higher than the automobile and parts industry historical average. Investment to maintain a neutral rating on the company. Note that the risk of major mold order to improve the vehicle lower than expected, uncertain prospects for the new company risks. Hot Recommendation: Watch 09 Hardware Ten selection The e-commerce company in China offers quality products such as Laser Light Equipment Manufacturer , China Laser Light Equipment, and more. For more , please visit Laser Stage Lighting today!
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