Poineering Point

From the 29 GEM companies that have already announced the results, the 9 increase is basically consistent with the expectations of investors for the growth of the gem.

Hon Chuan Technology (300124)

Total capital stock: 108 million shares

Circulating capital stock: 27 million shares

2010 three quarterly earnings per share: 1.87 yuan

Restricted stock listing (September 28, 2011):2114.91 million shares

The company's predecessor is Shenzhen Hui Chuan Technology Co., Ltd.

In May 18, 2008, with the unanimous consent of all shareholders, Shenzhen Hui Chuan Technology Co., Ltd., with a net assets of 87 million 289 thousand and 900 yuan audited by Dahua law on the 31 th of March 2008, was converted into 81 million shares according to the ratio of 1:0.92794, and the Shenzhen technology company Limited by Share Ltd was set up as a whole.

The quality of high-end low-voltage inverter products has reached the same level as foreign brands. Most of the co controllers have experience in Emerson.

At the same time, the company is the only enterprise that has the core algorithm of high voltage LV inverter application.

At present, the failure rate of the company's products is about 1 to 1.5 percentage points, and its stability basically reaches the level of foreign countries, and the price is reduced by about 10% to 15%.

The company has ample money and funds, and its business model is expected to expand rapidly in the whole country.

The company has obvious advantages in price performance ratio, and its brand reputation and popularity are rapidly improving.

At the same time, because the main competitors in China are big agent models in China, there are no local monopolies and local government protection barriers.

In the future, through the development of research and sales channels, the company is expected to replicate the business model quickly in the whole country, and the market share will be greatly improved.

We raised the company's diluted earnings per share from 2010 to 2012 to 2.11 yuan, 3.65 yuan and 5.17 yuan, corresponding to the dynamic P / E ratio of 70, 40 and 28 times, giving the company a rating of "highly recommended".

Hai Lanxin (300065, stock bar) (300065)

Total capital stock: 55 million 390 thousand shares

Circulating capital stock: 13 million 850 thousand shares

2010 three quarterly earnings per share: 0.38 yuan

Restricted stock listing (March 26, 2011):2012.94 million shares

The predecessor of the company was established in February 14, 2001 in Beijing Highlander data recording technology Co., Ltd.

In March 14, 2008, the Beijing Hollander data recording technology Co., Ltd. was considered and approved by the third provisional shareholders' meeting in 2008. All shareholders of the limited company jointly act as the initiator and change the whole company to Beijing's Polytron Technologies Inc.

The company is a leading marine electronics enterprise in China. In 2009, the domestic market share of VDR products reached 24%.

With the gradual improvement of the global service network, the core technology leading edge and the local advantages, the company's leading position in the domestic navigation electronic market is more and more stable.

The company's competitive advantage is cost advantage, and its product is about 30% to 40% lower than that of European equivalent technology products.

The company's future performance growth comes from maintaining steady growth in traditional businesses.

In 2011, new products, such as SCS (Cao Tuoyi) and ECDIS (electronic chart display and information system), will begin to contribute to the performance. It is estimated that the company VEIS (ship electronic integration system) will be launched in 2013.

Silicon technology (300019, stock bar) (300019)

Total capital stock: 102 million shares

Circulating capital stock: 29 million 420 thousand shares

In 2010, the three quarterly earnings per share were 0.34 yuan.

Restricted stock listing (October 30, 2012):6232 million shares

The company mainly engaged in R & D, manufacture, manufacture and sale of special production equipment for warm glue and glue making.

In December 31, 2010, the company announced a memorandum of investment cooperation with Anhui Xiang Fei Li silicone new material Co., Ltd. and its shareholders.

After the completion of the capital increase, the registered capital of Xiang Fei faction changed from 10 million yuan to 20 million 500 thousand yuan.

The company holds 51.22% stake in Xiang Fei Li and becomes its controlling shareholder.

Silane coupling agent is one of the raw materials for silicon technology production. If the company can successfully control the professional coupling agent manufacturer, it will provide guarantee for the supply of raw materials.

The company's increase in the size of the company is conducive to the company's entry into the industry, changing the company's single silicone room temperature adhesive structure, and making it the first step for the company to become a well-known silicone material enterprise.

Domestic coupling agents have higher cost performance than conventional products, and international companies are gradually increasing their procurement of Chinese products.

The demand for some new varieties and high quality silane coupling agents has also promoted the development of new products and quality improvement of silane coupling agents in China.

We give the company "recommended" rating and give EPS 0.46, 0.69, 0.98 yuan forecast from 2010 to 2012.

Trimming environmental protection (300072, stock bar) (300072)

Total capital stock: 97 million 270 thousand shares

Circulating capital stock: 25 million shares

2010 three quarterly earnings per share: 0.49 yuan

Restricted stock listing (April 27, 2011):2695.67 million shares

The company is mainly engaged in R & D, production, sales and related technical services of desulphurizing agents, other purifying agents (dechlorination agents, DEARSENIZING agents, etc.), special catalytic materials and catalysts.

The desulfurization industry is one of the industries that the state strongly supports. Under the increasingly severe environmental protection situation, the state has promulgated a number of policies to promote the development of the desulfurization industry.

For example, the Ministry of environmental protection's "12th Five-Year plan" stipulates that in 2015, the total amount of sulfur dioxide emissions will be reduced by 10% compared with that in 2010, while the total COD emissions will be reduced by 5% over 2010.

We believe that with the support of the state, the importance of the desulfurization industry will be increasing, and the market demand of the industry will be greatly improved.

The company's desulfurization products are mainly used in petrochemical, natural gas, coal chemical industry and other fields. The market of desulfurization and purification agents has been growing rapidly under the stimulation of national policies.

According to the estimate, the demand for this part reaches 767 thousand tons, and the compound annual growth rate is above 20%.

The company's desulfurization and purification agent can partially replace the dry desulfurization market, and because the company's leading technology, leading position in the industry, will be able to fully sell the benefits of market growth.

We believe that when the company's capacity is put into operation as expected, it will significantly enhance the company's profits and its performance will grow rapidly.