Yantai Wanhua: Continue To Maintain The Leading Position In China
The MDI capacity of the company has reached 380 thousand tons / year. In 2008, on the basis of large-scale investment in fixed assets, the Ningbo Wanhua phase I capacity increased from 240 thousand tons to 300 thousand tons on the basis of technological pformation. The Yantai plant will also expand to 18-19 tons in 2008, and the total capacity of the company will reach 490 thousand tons by the end of 2008, representing an increase of nearly 50% over the current period.
Ningbo's two phase 300 thousand ton / year project can be put into operation in 2010, when the total MDI capacity of the company will reach 740 thousand tons, and will continue to maintain the leading position in the country.
It is estimated that the EPS of the company in the 08 and 09 years is 1.31 yuan and 1.59 yuan respectively, so as to maintain the "overweight" rating.
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