129764786788125000_22Guidong electric power is the national water and electricity systems, network coverage in the widest and most complete, unique ring to 110KV transmission line network, has a complete power supply system of local power companies. Power has always been very stable cash flow of the business of the company, in the main industry of steady growth at the same time, companies looking for income diversification, also carried out a series of investment, now formed a power-orientedIndustry, electronics, security, oil trade, the travel patterns of many business sprouted.
Electrode foil business in particular, through development in recent years, has now become the power fly side by side pillars of business, two businesses as a whole profit gross profit more than 98%, is the company's core business. Power business: to existing plant network based, steadily expanding company electric power business networkI, after years of extension-expansion, growth to achieve nearly 300%; network based in hezhou, three areas of radiation, Guangdong, Guangxi, Hunan, in cooperation with the competition of Guangxi power grid regional dominance in the relationship will be long lasting. Constantly Happy Valley enclosure expand power generation policy support and demand a favourable company bigger and stronger. National support for the hydropower industry, for the development of companyCreating a favorable policy environment.
According to the plan, in the "Twelve-Five" period, China's power industry investment will amount to $ 5.3 trillion released machine near 500 million-kilowatt
diablo 3 power leveling, corresponding to the Central Government and all levels of Government have been issued a series of policies and measures to increase the support for renewable energy investment, the hydropower business policy basis for sustained and healthy development for the company. Company areaGrowth in demand for power provide opportunities for the development of the company. Government of the Guangxi Zhuang Autonomous Region "industry larger and stronger" and hezhou City Government "industry sets up the greeting, vigorously develop modern" ideas coincide, and related measures implemented the construction of the project will derive greater electricity demand; the great development of the Western region, the development of China-ASEAN free trade area, in-depth implementation of the Pan-Pearl River Delta cooperationTransfer is inseparable from power support.
Is expected in the area supplied by the company in the coming years the demand for electricity will continue to maintain a rapid growth trend. View from the companies listed to date, due to enhanced profitability, reduce associated transactions, taking into account, the company continued to acquire new power plants or overweight have a stake in power plant expansion and extension of health. We, as the sole hezhou PrefectureResource integration platform to market, the company will continue within the extension and expansion of health and company in hezhou's market share still have headroom (now 60%), this extension also provides the basis of expansion for the company.
In addition, the company also revealed that around will continue to actively look for acquisitions or mergers of small hydropower plants. Continued expansion of the network in the three companies of one party (Hunan, Guangdong, Guangxi) junction, location, network in addition to covering the eastern region of Guangxi (hezhou city under the jurisdiction of city, County, district and related factories), radiation of Guangdong (Yunan County, and luoding City) and adjacent areas of Hunan province (Jiang Yong, Hua Jiang, counties such as Yongzhou municipal), formed a mutual exchange of power of the three patterns. In the monopolistic advantages of core area of business of the company. In hezhouAre under the jurisdiction of the three-County area of contribution to revenues of about 50% for the company, is the market's core areas of the company, is also a regional company with monopolistic advantage. Hezhou City Government require other companies only in guidong power difficult to cover the area, allowed only after intervention by the company supply, thus ensuring that the company in hezhou region advantages. Now in hezhou city under the jurisdiction of the three counties of the secondMarket share of more than 60%, and is on the rise, monopoly position clear. Long term, the company as a State-controlled enterprise in hezhou city, is a tax-payer in hezhou city
tera power leveling, local government, and appeals to the interests of the company are the same, for protecting their own interests, local governments also will maximize the safeguarding the interests of the company. Company advantages of the power grid in the area for a long periodIs difficult to shake. Plant isolation policy does not constitute a threat to the company network.
From the perspective of various logical, dominant business model of the company play will be maintained over a long period. Continued investment in upgrading and improving the power grid system. Company expanding in power network upgrading and extension after listing has made a sustained investment to meet growing customer demand to ensure network reliability, safetyOf all. As the network expands, the company's sales are showing stable growth trend.
Future power grid upgrade and transformation of the company will also continue. Surprise: CDM CDM awarded subsidies (CleanDevelopmentMechanism, the clean development mechanism) is the third time the United Nations Framework Convention on climate change Conference of the partiesCOP3 (Kyoto Conference) by outside parties in implementation of a compliance mechanism for emissions reduction commitments. Company pingle and zhaoping GUI GUI River Company sea company starting in 2008 for CDM emission reduction projects, in 2011, the CDM CDM emission reduction project, the two companies have access to the United Nations verification of the Council confirmed that the GUI River company received the first transferEmission reduction targets revenue of $ 1.33 million, $ 1.7473 million (including the application fee), the GUI Hai received the first transfer of emission reduction targets revenue $ 599,400, and $ (including the application fee). CDM emission reduction gains every year in 2012-2014 also to at least maintain the current level, annual CDM subsidy income amounted to us $ 4.5398 million (about $ 28.6 million RMB), thickening of EPS of $ 0.104 per unit. Electrode foil business: perfecting industrial chain, gaining momentum since 2002, company subsidiary of guidong electrode foil for electronic business after several years of development has begun, and became the leading technology, advanced technology, customers stable high pressureElectrode foil suppliers, as in hezhou electronic industrial park construction company business will be allowed to enter the fast track of development of electrode foil. Electrode foil in terms of technology, size of the company is in the domestic leading level (1) corrosion of advanced technology. Corrosion and is at the heart of electrode foil manufacturing technology. Because electrode foil manufacturing process in a variety of combination of mechanical, electrical, chemical, metal materialsAnd technology, electrolyte formula, power control is critical, so, the competition between the manufacturers of electrode foil core is a variety of tricks, including parameters control development, equipment, technical barriers in the highest corrosion in electrode foil production link, the company's technology has reached the leading domestic level. Company is the world's advanced level of residual corrosion Technology Center, technical level has been reachedIndustry leader. (2) aluminum synergies evident. Is a high power of electrode foil industry links, from the electronic aluminum foil to foil electrodes per square meter on average consumes approximately 50 degrees, power costs in total cost about 40%, so the vast majority of a certain size electrode foil manufacturers in terms of power resources have layout, this link more advantages compared to other manufacturers: first of all, the companyLowest cost of hydroelectric power, far below the interbank level, hydroelectric power due to seasonal factors, kurong phase difference is large, guidong electronics can increase flood capacity of balancing electricity costs and, secondly, guidong electric demand large amounts of power to provide a stable Terminal, has a synergistic effect. Electronic electrode foil for eco-industrial park to provide new opportunities for business development in hezhou city electronic BureauUpon completion of the eco-industrial park, the disadvantage is the lack of industry chain cover. The company dealt only with corrosion and chemical sectors, lack serious industry chain, chain deficiency which caused the company's cost advantage, on the other hand long delivery period is extended, difficult to respond quickly to customers. Most of our electronic aluminum foil is the purchase of Xinjiang joinworld
diablo 3 power leveling, small amounts of imports,Electrode foil suppliers and customers are very dispersed, mainly customers in Shenzhen and Hunan. Hezhou electronic science and technology of eco-industrial park in East Guangxi electronic electrode foil for core, extends up downstream, supporting and perfecting industrial chain of aluminum electrolytic capacitors, electrode foil for the company business development provides a good environment of industrial cluster, which the company's customers and suppliers are set toIndustry Park, industry chain to the disadvantage of the lack of the original will be covered. Analysis and forecast of earnings forecast and valuation company, 2012, 2013, 2014, 0.49 and $ 0.92 EPS respectively, split according to different business valued at $ 17.5/unit company at a low price to buy early and power plants, power grid after the conclusion of the asset as depreciation and amortisationOn paper, the value will be increasingly less, but in fact as the upward push electricity prices rising power costs, profitability and the fair value of these hydroelectric power station and power is rising. We GE cost on the company's existing assets for revaluation came to the per unit cost of assets to GE for $ 19.36. var selfURL="http://quotes.cnfol.com/block/7020"; Online statement Gold: gold online reprint of the above content, does not indicate that confirm the description, for investors ' reference only and does not constitute investment advice. Investor operations accordingly, at your own risk.
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