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Shanghai Sinovel said Wang subscription of new shares to be 9 million children a number

    Today, China's largest wind power equipment manufacturers - Sinovel Technology (Group) Co., Ltd. formal release in the Shanghai main board market, the issue price of 90 yuan per share, the Shanghai stock market hit a historical record of the issue price of the motherboard.
    Previously, booster cables the maximum issue price of the motherboard Shanghai 3 years ago by the issue of China Shenhua to maintain, when the issue price of 36.99 yuan, all of a sudden will Sinovel this record by 143.31%.

    No child need to purchase a 9 million.

    Sinovel the total issued 10,510 shares (subscription code 780558), which issued 8410 shares online, issue 48.83 times earnings. Lower limit of the board for the purchase of new shares 1,000 shares, therefore, ordinary investors,battery clip even if only to purchase a chant, the use of funds also need at least 9 million; and 8.4 million of the purchase in accordance with its ceiling, the funds required for the 7.56 million yuan.

    According to the announcement, in a preliminary inquiry Sinovel offer a total of 107 placing the object, of which 72 provide an effective offer.

    Earlier,tow rope the Shanghai Stock Exchange Main Board issuers the highest price for the bull market peak in 2007 issued by China Shenhua, the issue price of 36.99 yuan. However, yesterday's close, China Shenhua's share price is down more than the issue price of 28.76% (at the right price re-calculation). April last year to 148 yuan in small plates issued Haipu Rui, the issue hit the highest record in Shanghai and Shenzhen, to yesterday's closing price, the stock still higher than the issue price fell 5.27%. Record for the highest GEM issue just released last December, the market-HEALTH,ratchet tie dowm than the issue price of the stock closed yesterday up 36.77%.

    2010, the Shanghai Stock Exchange main board there were 19 IPOs, the average price-earnings ratio is 33.78 times the issue. Chint distribution is the highest price-earnings ratio of 61.49 times the electrical, the stock market nearly a year, closing yesterday issued only gone up more than 1.67%.

    Leader optimistic about the wind power sector.

    Body blitz Sinovel reason, given the issue price of 90 yuan, mainly wind power is promising to support this policy by the state's new energy industry prospects, Huarui fan equipment is the leading domestic enterprises, not only occupy quarter of the market, and margins high.

    Prospectus shows Sinovel is the first company to develop, design, manufacture and marketing of wind resources and adapt to different environmental conditions, land, sea and intertidal of large wind turbines, 2008, 2009, to keep the Chinese market for two consecutive years share of the first.

    Prospectus also said that large-scale wind turbine in terms of technological innovation reached the world advanced level. MW level and above in the domestic wind turbine technology from foreign companies under long-term monopoly, the company introduced the first in China to the international mainstream of 1.5MW wind turbine technology, after the second digestion, absorption and innovation, and developed a different style for the domestic resources and environmental conditions of the grid-friendly 1.5MW series wind turbines. The company pioneered the development of a 3MW offshore China, land, inter-tidal wind turbine technology; the current 5MW larger sea, the land wind turbines are under development.

    Sinovel raised the issue of funding, mainly for the above 3MW wind turbine R & D projects, 3MW offshore and onshore wind turbine capacity building projects (including Dalian, Yancheng, Jiuquan three bases), offshore wind turbine shipments base construction projects, three projects totaling capital 3,446,500,000 yuan. The funds raised from the offering will actually reach 9.459 billion yuan, 1.74 times over raised.

    Sinovel in the country's main competitors include Vestas, GE Wind, Gamesa and other foreign manufacturers, and Goldwind, Dongfang Electric and other domestic or joint venture.

    2009, Sinovel and Goldwind, Dongfang Electric in the domestic market share of new capacity were 25.32%, 19.72% and 14.75%. Vestas, GE Wind, Gamesa, respectively 4.41%, 2.34% and 2% ranked 6,8,10 bit, Zhejiang arrived to 1.89% market share ranked 12th.
    Industry competition, growth decreased.

    In recent years, the state of wind power industry has given greater incentives and support efforts to make China's wind power industry has made considerable progress and development. At present, China's wind turbine manufacturing machine has more than 80. However, Sinovel in the prospectus also said that interest in the huge market driven, more and more companies entering the Chinese market with the industry, many domestic enterprises have a variety of ways to enter the wind power equipment manufacturing industry The company faces competition in the market will become increasingly fierce.

    From the company's financial data, the company's growth in 2010 compared to previous years has not. 2007 to 2009, net profit reached 127 million, 6.31 billion yuan and 1.893 billion yuan, an increase of 397%, respectively, and 200%. The first half of this year, the company's net profit 1.274 billion yuan, net profit and if the first half of the second half of the same year net profit 2.548 billion yuan, an increase to 35% or so.

    Fourth quarter of 2010, there are two fan manufacturers Mingyang Wind Power, the wind technology in the U.S. and Hong Kong-listed options, the results of Yang Ming wind hit the United States listed on the first day of break, the market value has fallen by three percent over now; Goldwind H shares listed in Hong Kong, the last two months also continued to slow down. Offshore wind turbine manufacturers in China market, and not as favorable as the A-share market.

    The industry believes that increased competition in the industry, the domestic fan to grasp the core of intellectual property rights very few manufacturers in the context of the domestic wind power manufacturing companies are likely to usher in a reshuffle.

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