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"On the premise that the indicators such as technology and services meet the procurement requirements, we must give priority to the procurement of energy-saving products, and implement compulsory procurement for products that meet the requirements for energy-saving effects and performance." Recently, the General Office of the State Council announced the list of government-sponsored energy-saving products. According to the list, relevant listed companies in five major industries, such as home appliances, IT, lamps, power equipment and sanitary ware, are expected to benefit from it. Among them, Zhejiang Sunshine, a listed company in Zhejiang, became a listed company in lighting fixtures.
Positive impact but difficult to see
In the secondary market, Zhejiang Sunshine has also gradually increased. Last week's performance was even more prominent. On Tuesday and Thursday, the two daily limites were pulled. This week, after the soaring, they entered the rest.
Zhejiang Sunshine is currently the largest manufacturer of energy-saving lamps in Asia and the largest manufacturer of LED lamps in China. The main products include the development, manufacturing and sales of energy-saving electric light sources, lighting appliances and instruments, among which energy-saving lamps are the main products. In 2006, it reached a scale of 200 million. The sales revenue of energy-saving lamps accounted for 74.4% of the company's main business income in 2006, and the contribution rate to the main profit was 74.5%. 60% of its products are for export and 40% for domestic sales.
Asked about the possible contribution of the government's preferential procurement of energy-saving products to the company's performance contribution, Secretary-General Wu Qingyi explained: This is definitely a positive impact, but such purchase orders originally existed, and now it is difficult to estimate how much it will increase after the introduction of the policy. The performance contribution to the company will not be seen in the short term.
According to the analysis report of Tianxiang Investment, only the domestic lighting manufacturing enterprises are listed in the “Government Purchasing Energy Saving Products Listâ€, only Zhejiang Sunshine and Foshan Lighting, which means that in the process of compulsory procurement of energy-saving products by the upcoming government departments. Zhejiang Sunshine will be able to expand the influence and market share of its products in the domestic market to a certain extent, and will also be in a dominant position in the future competition of energy-saving products. They expect the company's main revenue in 2007 to grow by about 25% to 1.99 billion yuan.
Raw material prices have swallowed profits
For Zhejiang Sunshine, the positive is only expected, but the difficulties are present, mainly due to the rising prices of raw materials such as lamp holders, plastic parts, glass tubes and tungsten molybdenum wires, which have led to a continuous increase in production costs and a decline in gross profit margin. .
Wu Qingyi introduced that in response to the problem of rising raw materials prices, the company has also made some efforts to control costs, such as increasing purchase volume, stabilizing work channels, improving processes, etc., while products have a certain price increase, but even if the price increase is limited, It is difficult to offset the pressure on raw materials and the pressure from the appreciation of the renminbi. He admits that the specific data is inconvenient to announce in advance, but there will be a detailed explanation in the interim report published on August 21. According to the data released in the first quarter, its main income was 3.886 billion yuan, a year-on-year increase of 19.34%; but the net profit was 2011.75 million yuan, down 19.68% year-on-year. According to the situation, some investors also foresee in the stock market, which will not be too optimistic. .
However, Tianxiang Investment is very optimistic about its long-term prospects. The analysis pointed out that based on the rising cost of raw materials, the gross profit margin decreased. The company's net profit in 2007 was not much higher than that in 2006. It is expected to reach 130 million yuan and earnings per share of 0.68 yuan. The increase in government procurement and export volume of the company's energy-saving products in 2008 and 2009 will result in a significant increase in the company's performance.
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