Hong Fuyuan, General Manager Of Taiwan Chemical Fiber Limited By Share Ltd, Visited Panjin

In September 24th, Hong Fuyuan, general manager of Taiwan chemical fiber Limited by Share Ltd, went to Panjin for inspection.

Sun Guo Xiang, Secretary of Panjin Municipal Committee,

Gao Ke welcomed Hong Fuyuan and his delegation and exchanged views and suggestions with Hong Fuyuan and his party on the pformation and development of Panjin, petrochemical industry and fine chemical industry.

On the morning of that morning, the relevant leaders of the Panjin municipal government accompanied Hong Fuyuan and his entourage to inspect Huajin Group refining and chemical company, ethylene two company, Liaodong Bay New Area Huajin Group refining and chemical integration project, Panjin port and Red Beach National Scenic corridor.

The relevant leaders of the Panjin Municipal Committee met with Hong Fuyuan and his party.

Huajin Group's refining and chemical integration project is a major project for Panjin to realize the pformation and development of resource-based cities and build petrochemical and fine chemical industrial bases. The early stage work has been strongly supported by the state and relevant ministries and commissions.

After several years of construction, Liaodong Bay New District has complete infrastructure, Panjin port planning science, collection and distribution system is perfect, already has the basic conditions for the development of large-scale chemical industry.

With the entry of Taiwan enterprises such as Changchun Petrochemical Company and Liancheng chemical company in Taiwan, Liaodong Bay New Area is speeding up the construction of Taiwan chemical industry gathering area.

The meeting said that the municipal Party committee and municipal government will fully support the development of Taiwan chemical fiber Limited by Share Ltd in Panjin to provide all-round services for enterprises and achieve mutual benefit and win-win results.

Panjin's Liaodong Bay New District is planning scientifically and reasonably. The key elements of developing chemical projects such as port and land are complete. The chemical fiber Limited by Share Ltd of Taiwan will further evaluate the investment environment of Liaodong Bay New District, and strive to find suitable projects for enterprises in the New District, and join in the tide of Panjin's reform and development as soon as possible so as to contribute to Panjin's economic and social development.

Deutsche Bank's first purchase price for Yizheng chemical fiber is 5.5 yuan.

Deutsche Bank published research report, first to Yizheng chemical fiber (4.35, 0.21, 5.07%) (01033.HK) "buy" rating, the target price of 5.5 yuan, because of the reorganization of the group, Sinopec [micro-blog] oil service (SOSC) is China's second largest oil engineering and oilfield technology comprehensive service provider, plans to backdoor listing, the profit assets into Yizheng, and the loss of chemical assets pferred to the parent enterprise Sinopec (00386.HK), after the reorganization can produce synergy effect.

The bank mentioned that the net profit of SOSC last year was only 1.7%, significantly lower than that of the same industry. However, it is believed that the reform of state-owned enterprises will be better in the next few years, and the management will be more efficient. It is expected that the net profit will be improved by 1 percentage points every year, and it will be over 5% by 2016, which means that the compound growth rate of 3 years will reach 48%.

SOSC also aims to increase the dividend payout ratio to 40% in 2015.

The bank also pointed out that the Shanghai and Hong Kong pass is about to be launched. It is believed that the Yizheng AH stock price gap may narrow, and the Ministry of land and resources will auction third blocks of shale gas.