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Weida main product booster cables , battery clip, tow rope,ratchet tie down.

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Liyuan Hydraulic Components Hydraulic asset prices rose steadily re-

    2008 January to June, Liyuan Hydraulic Company achieved operating income of 896 million yuan, an increase of 62.33%; operating profit of 101 million yuan,booster cables an increase of 73.79%; 85.82 million yuan net profit attributable to parent company, an increase of 51.08%; diluted earnings per share of 0.48 yuan.

    11, 2007, after completion of the reorganization of assets, battery clip Liyuan Hydraulic Company has formed a gas turbine, hydraulic parts, aviation forging, heat the four main parts. Although the first half of 2008 by domestic macroeconomic tightening, RMB appreciation pressure, rising raw material costs and other factors, Liyuan Hydraulic year consolidated gross profit margin fell 3.4 percentage points, tow rope but the boom by means of upgrading the industry, product prices, sales The increase, the company continues to maintain a good growth performance. One route, the second flight of the merger and reorganization will allow the company to become China's aviation industry, heavy machinery assets,ratchet tie dowm integration platform, the company plans in 2008 not more than 8000 million private placement to raise funds for technological innovation and further acquisitions in order to improve the industrial chain.

    Earnings forecasts and investment ratings, we assume that in 2008 the company successfully completed private placement, increasing the total share capital of 8,000 million shares to 259 million shares. Diluted EPS is expected the next three years were: 0.70 yuan, 0.90 yuan, 1.19 yuan, respectively, corresponding to dynamic price-earnings ratio of 34.9 times, 27.1 times, 23 times, giving "overweight" rating.

    Risk Warning aspects, 1) in 2008 proposed private placement price of not less than 24.53 yuan / share, higher than the current secondary market price, so placement can be completed in 2008, to raise funds timely in place, yet uncertain. 2) in the first half increased by the pressure of RMB appreciation, rising raw material costs, power and energy costs, labor costs rise, Guizhou, snow and other effects, resulting in consolidated gross profit margin decreased, subject to snow outside the adverse effects of macroeconomic factors will continue. 3) part of the business from the military orders, military policy and national defense needs by the constraints are obvious.

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iande Weida Electrical Appliance Tools Co.Ltd. professionally manufacture booster cables , battery clip, tow rope,ratchet tie down.