129756966825156250_9 <a href="http://www.power-leveling-service.com/diablo-3/gold">diablo 3 gold</a>Hexun homepage established mobile phone version of the stock/fund market for micro-blogging news blog live small company stocks the major new share placements by gem new third sector brokers New York themesBulletin deal prompted the financial calendar of earnings release memo block trade in thousands of shares of financial market Center collection of funds flowing to new share purchase financing Twitter pioneer financial management training in the daily limit of the unit gather Forum hexun.com shares > body font size print RSSMarch 08, 2012 from: hexun stock page 1th page 2nd Lan Ying equipment (300,293) listing analysis of liberal arts biology (300,294, unit) (300,294), listing positioning analysis, company fundamental analysis of companies is the only company in Jiangxi provinceCountries identified the production units of blood products. Specializing in people of human serum albumin, immunoglobulin, intravenous human immunoglobulin (pH4), rabies, freeze-dried human immune globulin intravenous human immunoglobulin (pH4), hepatitis b, human immunoglobulin and human Fibrinogen 3 categories 21 7 variety specifications. Company takes the lead in blood products in the industry throughout the country, through the nationalPharmaceutical GMP certification, 2001 was identified as the national torch plan key high-tech enterprise, 2010 was recognized as a national high-tech enterprise, there are provincial-level Enterprise Technology Center. The company has received the "top 100 most valuable investment enterprise", "Guangdong excellent new product Award" and other honors. Liberal Arts company has a complete quality assurance system, products are safe, effective, and moreYears has been widely praised by the user, best-selling products. Plate which the pharmaceutical industry, a, Fuzhou, biotechnology, biotechnology, biological products industry of the second, the first prediction of Shanghai Securities: CITIC Securities 24.25-29.09 (600,030, unit): 27.8~28.5Shenyin wanguo: 24.6-28 ping an securities: 25.8-29.1 shenyin wanguo: Liberal Arts bio-reasonable price range $ 24.6 per cent report title: Liberal Arts biology IPO analysis: technology, small elastic 2012-02-24 investment company performance: medium-size blood products and enterprisesIndustry. Company has five pulp, producing seven blood products, blood plasma products industry is the high utilization rates, relatively complete product range for medium-scale enterprises. Gaote group as a holding company shareholders, holding 35.11% shares after the issue, Chairman Xu Jianxin couple holding 11.73% shares after the issue, holding 11.7% 's Sheng Yang heshun plus investmentIs a private equity investment fund. The smaller, rapid profit growth of income. 2009-2011 annual compound growth rate of income 28.2%, 43.9% compound growth in net profit. In 2011, the company revenues of $ 197 million, an increase of 39%, and net profits of $ 65 million, an increase of 31%, net profit margin 33%. MainProducts include human serum albumin, immunoglobulin and coagulation factor 3 categories, with human serum albumin and static human immune globulin injection accounted for more than 95%. 25% composite of albumin in the past 3 years income growth, income composite growth rate of intravenous immunoglobulin 28%, growth is expected to remain stable in the future. Fibrinogen is a corporation of new profit growth point, 2009-2011-year compound growth rate of income 211%, expected over the next few years the product's growth rate is expected to remain above 30%. Blood products plasma of the core competitiveness of enterprises is the plasma source, comprehensive utilization and management, the company has technical advantages, small-scale performance flexibility. Plasma supply of blood products, and long-term demand. Blood products the core competitiveness of enterprises is the source of pulp,Comprehensive utilization and management of plasma.
����And blood products in large enterprises
diablo 3 power leveling, disadvantage is the smaller of the company, but the number is not inferior to internal development and management-holding power, once the new pulp, performance flexibility, future business highlights as well as immune globulin. Fundraising project: company offering investment projects is a new collection of plasma stands and specific immunoglobulin productionIndustry, thus further expanding the company's plasma resource and product line, enhance the core competitiveness of the company. Reasonable price $ 24.6-28: we expect 12-14 fully diluted EPS of $ 1.12, 1.42 and $ 1.78, net profit growth, 30%, and 25%. Recently listed pharmaceutical shares purchase forecast average price-earnings ratio22.5 times times, taking into account the high prosperity of the blood product industries, and in 2012 the Government will promote the new pulp, we offer 12 times forecast earnings, 24.6 per cent to $ at a reasonable price. Special Note: this report predicts new stock price is not the listed price on the first day, but under the current market conditions remained unchangedReasonable price range. Researchers: Lou duo affiliations: shenyin wanguo securities company limited CITIC Securities: Liberal Arts bio-reasonable price range $ 27.8~28.5 title: Liberal Arts biology analysis of IPO inquiry report: Cross blood products company company profile in regional development: regional blood product companies. Company specializing in bloodProduct research and development, production and sales, with human serum albumin, 7 varieties of production approval from. 2011 revenue and net profit to $ 197 million, respectively, and $ 65 million, nearly three-year compound growth rates and 28%, respectively. In 2011, the company mining and pulp of about 90 tons, hualan bio (002007, shares), Shanghai laishi (002252,Unit) and other leading companies is still a certain gap. Industry analysis: industry boom cycle, short tight price difficult to change. Medical market for annual basic needs of 8,000 tons of plasma, 2010 national mining slurry of 4,180 tons, climate cycles of the industry is in short supply. We believe that the rising prices drive the rapid development of the market, and estimates 2010The total market size of about $ 7 billion.
����Station construction requires 2-3 of new pulp cycle, plasma production period 7-8 months, we believe that the plasma shortage is still 3 years the biggest challenges facing the industry in the future, tight price situation difficult to change in the near future.
����Company analysis: development of three advantages of escort, new industrialization of injected growth dynamics. (1) extensionOutstanding show pulp sources, deep extension pulp a favorable position of local origin company, pulp station outside the province to develop remarkable achievements, in yuechi County, pulp, guanyun mixing station has been approved, and (2) technical obvious advantages, company static c 2000 b/1700/ton ton yield significantly higher than industry standards, and (3) professional standards high and stable management team. New pulping station and extension of existing pulpOr will provide solid protection for the company's development, static, Fibrinogen c look fast-growing sustainable, we expect sales in 2012 respectively and 116%, promote the industrialization of hepatitis b from inject growth momentum for the company. Companies offering investment projects. Company plans to raise $ 161 million for apheresis plasma station new and alteration, such as hepatitis b from eggWhite pilot system of industrialization and the project, total, 22.4% and 23.3% respectively. Hepatitis b-protein-free industry will significantly improve the company's profitability, 1 ton of plasma for hepatitis b vaccine production revenues of about $ 2.8 million, well above its production of static 850
diablo 3 gold,000 yuan revenues. We expect that after the implementation of the project, 2012 for the company16% revenue growth, profit growth of about 20%.
����Risk factors: security products; new pulping station policy risk; risk of price regulation. Profit forecasts and valuations. As pulp and source of ever-expanding product line and gradually improve, companies across regions limit, is expected in the future one of the industry's leading Echelon. We expect 2012/2012/2014 fully diluted EPS $ 1.14/1.45/1.61 respectively. Reference industry and comparable valuations of the company, given its 2012 times PE. With DCF valuation, company's reasonable price range: $ 27.8~28.5.
����According to the discount rate 10%, recommends that the inquiry range $ 25.00~25.70. Researchers: LiAgency: CITIC Securities Company ping an securities: Liberal Arts bio-rational valuation range for $ 25.8 per cent higher boom to ensure performance of fast-growing liberal arts biology focuses on blood products research and development, production and sales. Because blood products in a number of specific treatment or disease has an irreplaceable role in first-aid. Along with theRising of patients consumption, growth in market demand for the product is rigid, while the volume of domestic investment and pulp's growth can't keep up with the market demand growth, so the market will be the norm in the short term, the industry will maintain a high degree of prosperity. 2008-2011, the main business revenue CAGR of 29.7%, compound annual growth rate of net profit to 82.6%, high prosperity of industry ensure that the performance of the company rapid growth. Has application for qualification of new pulp is pulp sources to expand protection of the Ministry of health provides a new set of pulp enterprises need to be able to produce human serum albumin, immunoglobulin and coagulation factors in three major categories of products, China can produce three kinds of products have the qualification of new pulp enterprises, including companies, only 8.Company can produce three 21 7 varieties specifications product, market access to capital will strengthen the company's pulp expansion capabilities, improving market share through new pulping station.
����Company now has 5 pulp is expected by 2013 would add 2-4. Company's two specific immunoglobulin will go on sale in 2012, the company has a strongResearch and development, present at the opening of five kinds of new products, including large market share, higher added value of coagulation factor �� and prothrombin complex.
����Has received approval from the people of hepatitis b and rabies immune globulin will go on sale in 2012, sales revenue for the year is expected to reach 30 million. Valuation range for 25.8 per cent of $ IRigid and are optimistic about the industry's growth of blood products company pulp expansion capability, but is based on the precautionary principle, considering the relative valuation, DCF valuation, company PE valuation intervals in 2012 times, fully diluted EPS is expected to 2012-2014 to 1.12, and 1.4, reasonable valuations as 25.8-29.1/unit corresponds to static/dynamic PE-2011-2014: 30-34,23-26,18-21 and 14-16.
����If you are considering listing 15% room on the day, and recommends that the request interval for $ 22.4~25.3. Third, the company's competitive advantage analysis 1. times of tight supply and demand the maintenance of blood products industry:Companies over the past three years net profit up to 82.7% of compound growth rate reflects the characteristics of high prosperity of trade barriers increased. 2. formation of new sources of pulp and raw materials for the company support: the company currently has 4 operational and 1 has completed pulp slurry station station, is expected in 2013 total of 7~9 pulp, move closer to the domestic leading enterprises. Under policy barrier protectionNew plasma source development will become the important support of the company's future growth. 3. rich product line enhance profitability: company to produce three 7 varieties of products, in the domestic leading level in the enterprise, has obtained approval from the specificity of immune globulin contribution revenue is expected to begin this year, follow-up there was coagulation factor VIII, prothrombin complexMany new products at the opening of high added value, some have already started to complete the process of registration, Echelon layout conducive to further improve the pulp of good sources to find new profit growth point. 4. raising investment projects will further enhance the overall strength of the company. For high group company, which intends to sell 19.02 million shares to the public,After the release of the total share capital of 25.09%. This successful application to raise funds will greatly increase the company's production capacity, sales and new product development capacity, strengthen business, expanding the development space, significantly improve the company's overall competitive strength.
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