Taihe New Material: Special Fiber Begins To "Highlight"

< p > < < a href= > http://sjfzxm.com/news/index_cj.as > > < /a > in recent years, China has become the world's largest producer of chemical fibers. High and new technology fiber will be the highlight of the future development of chemical fiber industry.

Li Jianan, a researcher at CIC's chemical industry, said.

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< p > as the key high-tech enterprise of the national Torch Program, Taihe new material specializes in research and production of high-tech special fibers. It is the largest special fiber producer in China.

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< p > from the company's performance, from 2011 to 2013, its net profit was 140 million yuan, 45 million yuan and 84 million yuan respectively, up by -45.57%, -68.10% and 89.61% respectively compared with the same period last year. In the first quarter of this year, the company achieved a net profit of 51 million yuan, an increase of 278.40% over the same period, corresponding to the net assets per share of 3.48 yuan.

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< p > "benefiting from the rising industry boom, the market price of spandex in the first quarter of this year has been maintained at a high level, which has increased considerably compared with the same period last year, while the price of main raw materials has declined. The price difference between spandex and raw materials has widened to promote the company's consolidated gross profit margin by 9.43 percentage points.

In addition, the increase in sales and profitability of aramid fiber also contributed to a year-on-year increase in corporate profits.

Everbright Securities analyst Mao Wei said.

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< p > < < a href= > http://sjfzxm.com//business/ > > < /a >. In the past five years, the annual compound growth rate of domestic spandex industry has exceeded 17%, and the growth rate of spandex productivity has only kept about 4% since last year.

As productivity growth is far below demand growth, the industry generally maintains a tight supply pattern, spandex price elasticity is enormous.

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< p > Mao Wei said that because of the high technical threshold, the aramid products produced by the company in the field of protection, especially the colored silk, have obvious competitive advantages. It is expected that some of the products will continue to maintain a good profit level in the future.

In the aspect of aramid fiber, the company launched high-precision fiber for PM2.5, and intensified its promotion in the field of protection, such as military police, etc., which is conducive to get rid of the disorderly competition in the low-end market. In terms of aramid, the quality of the company's products is improved and its cost is reduced, and the space for subsequent development is broad.

However, analysts said that the company is also facing many uncertainties, such as the continued downturn in demand for textile products downstream, the expansion of aramid products market is less than expected and industry competition intensified.

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In the < p > two market, since last year's share price fell by 15.05% year-end, since the beginning of this year, as of July 4th, Taihe new material has been performing well, and the share price has risen by 11.64% over the same period, which has won 1.82% of the same period chemical fiber plate (Shenwan II industry). In the 27 listed companies of the sector, Taihe new stock price rose earlier.

At present, the company's TTM is 35.84 times higher than that of the 15.05 sector.

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< p > from the main position position, as at the end of the first quarter of this year, 7 main institutions, including 2 general legal persons, 4 funds and 1 brokerages, were holding Tai and new materials, holding a total of 214 million shares, accounting for 42.07% of the A shares.

Among them, the fund positions compared with the end of last year, 3 additional positions, holdings of 1 million 280 thousand shares; 0 reduction of positions.

After the company's share price outperformed the industry index, a total of 15 agencies issued a rating in the near future, with the overall rating rising.

As of June 28th, a total of 14 institutions made forecasts of the company's performance this year, with an average forecast net profit of 215 million yuan. According to this forecast, the net profit of the company increased by 154.62% over the same period last year.

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< p > < a href= "http://sjfzxm.com/news/index_c.asp" > investment > /a > opportunity, besides performance is expected to grow substantially year by year, and the company's stock price uplink will form a solid support. The good news of R & D, production and promotion of the new product will also produce a piece of catalyst effect.

At the same time, the amount of cash dividends since the listing of the company is much higher than the fund-raising amount, and it is also expected to get out of a "high delivery" market at the time of the release of the earnings report.

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