The expansion capacity of the hottest Xiamen Indus

Xiamen Construction Engineering Co., Ltd. is about to enter the high-speed development period of the enterprise. Xiamen Construction Engineering Co., Ltd. is about to enter the high-speed development period of the enterprise. Introduction: on the evening of February 21, 2010, Xiamen Construction Engineering Co., Ltd. issued an announcement on the non-public issuance of a shares. Its cooperation with ISRO Mars Orbiter is also known as the "personal vote plan": it plans to offer to no more than 10 specific investors, including Xiamen Haiyi Group Co., Ltd., the controlling shareholder of the company The non-public offering shall not exceed 166million shares, and the issue price shall not be less than 13.08 yuan/share. It is planned to raise 2.165 billion yuan and invest

on the evening of February 21, 2010, XCMG announced the plan for non-public offering of a shares: it plans to issue no more than 166million shares to no more than 10 specific investors, including the company's controlling shareholder Xiamen Haiyi Group Co., Ltd., at a price of no less than 13.08 yuan/share. It is planned to raise 2.165 billion yuan to invest in the "technical transformation project of 15000 excavators production capacity", "phase II technical transformation and expansion project of Xiamen Construction Machinery (Jiaozuo) Co., Ltd." and supplement working capital

comment on how to improve the industrial chain and solve the production capacity bottleneck: the implementation of the non-public issuance of raised capital investment project will help to solve the production capacity bottleneck of XCMG, optimize the existing product structure, enhance the company's core competitiveness and enhance the company's profitability. After the completion of the project with raised funds, XCMG will have a series of excavators of 3 to 50 tons, and increase the capacity of loaders and forklifts

Jiaozuo project consolidates its position in the industry: at present, the market share of Xiagong loader business is about 16%, ranking the third in the industry. The Jiaozuo project will consolidate the loader business of Xiagong, complete the strategic layout of Xiagong, and build an important production base in the central region. After the implementation of the project, the loader and forklift products of Xiagong Jiaozuo will form a series. The production scale of Xiagong Jiaozuo is as follows: an annual output of 15000 loaders, of which 5000 are newly added; The annual output of forklift products is 10000, of which 10000 are newly added. Excavator project is the key business of XCMG in the future: excavator business is the key business of the company in the future. The fund-raising excavator technical transformation project plans to expand the excavator assembly workshop in the original plant area. At the same time, it plans to requisition 200 mu of new construction land for the construction of a complete excavator painting workshop, an excavator commissioning and repair workshop, a product delivery test site and a product parking site, and partially transform the production auxiliary facilities. The planned product of the project is a 4t-50t series crawler hydraulic excavator, which maximizes the characteristics of special high molecular materials for automobile transmission system and driving. The construction period of the project is 3 years. After the completion of the project, the production capacity of 15000 excavators will be formed, of which 12000 will be added

the structure is optimized, and the gross profit rate is expected to increase in the future: XCMG will optimize its products to increase the proportion of long axles with high gross profit and high growth that have been tested by SGS, FDA and other agencies. At the same time, through Jiaozuo project, XCMG has made a reasonable layout in the main product sales market and the main supply areas of raw materials and supporting parts, so as to be closer to the target market and achieve optimal configuration. Based on the above two judgments, it is believed that the overall gross profit margin of XCMG will rise

investment suggestion: it is estimated that the earnings per share of Xiamen Construction Engineering Group from 2010 to 2012 after the additional issuance is expected to be 0.66 yuan, 1.07 yuan and 1.41 yuan. Considering the improvement of the export of the construction machinery industry and the growth of the company in the first quarter, a buy rating is given