Long-term growth dynamics: professional custom + import substitution. As large-scalemachinery and equipment associated with large size, high precision, high performancecharacteristics, mainly by the host company set design, by sets of custom production,Miniature Ball Bearing, and they need the Department of kit is often used in outsourcing or outsourcingprocessing; Meanwhile, with the large equipment manufacturing industry, downstream customers on procurement of spare parts of the core has changed in the past to rely solely on imports.
The current growth momentum: the Ministry of Deep Groove Ball Bearing capacity gradually released.Since 2008 investment in building "large-scale power generation equipment, the Ministry of kit bearing technology projects", projects which will increase the generator shaft, turbine generator set with the guide apparatus, with cone hydro-generating unit, turbine power generation machine cover, turbine generator stator frame, turbine low-pressure cylinderand the AC and DC motor and other parts of the bearing capacity of the Ministry of kit; the end of 2010, the project is part of the production plant and production equipment in use,but still part of the equipment installation and commissioning stage, production is graduallyreleased.
We expect the company's EPS for 2011-2013 were 0.43,0.61 and 0.74 yuan, according to2011 times the PE level 24-28 range of 10.32-12.04 per inquiry given by the PE 22 times2012 levels six months after the listing given target price of 13.42 yuan.
