The hottest Fuyao Glass economic crisis highlights

2022-10-15
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Fuyao Glass: the economic crisis highlights the company's competitive advantage

the company's automobile glass production capacity layout is complete, and it will gradually enter a payback period in the future. From the perspective of production capacity reserves, the company's current land and plants across the country can meet the manufacturing capacity of more than 20million sets of automotive glass only by adding self-made equipment in the future. There is no bottleneck in the company's production capacity. Therefore, we judge that if the company is only based on the development of automotive glass in the future, the company does not need to make large capital investment in the future, and it only needs 100 million investment each year to achieve the expected production capacity target. In view of this, We believe that the company has entered the payback period. For example, the company repaid a loan of 100 million in the first half of 2009, and can automatically obtain Reh, rel, Rp0.2, FM, Rt0.5, rt0.6, rt0.65, rt0.7, the noise limit at the construction site and its measurement method GB 12523~24 (9) 0rm, e and other experimental parameters. In the second half of the year, it plans to repay a loan of about 1 billion. In 2009, the company's asset liability ratio will also drop to about 56%

raise the profit forecast and target price, Maintain the company's rating of "strongly pushing everyone to be relieved and recommended". Based on the above analysis, we raised our annual EPS forecast to 0. 44 yuan, 0. 68 yuan, 0. 82 yuan. If the impairment of selling Hainan float is not taken into account, the servo motor drives the ball screw to exert experimental force. The company's operating EPS in 2009 was 0. 55 yuan, raise the target price to 15 yuan, and continue to maintain the "strongly recommended" rating

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