(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)又加了些Taisan！[学生 (1-14 11:10, Long long ago)] [ 传统版 | sForum ][登录后回复]21楼
(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)买了些Yamada.[学生 (1-14 11:25, Long long ago)] [ 传统版 | sForum ][登录后回复]22楼
(引用 学生:买了些Yamada.)工人中午要做Cream of Mushroom Soup， 好像要用到很多蘑菇， 也就买了该股！[学生 (1-14 11:30, Long long ago)] [ 传统版 | sForum ][登录后回复]23楼
(引用 学生:Sinograndness 好像不错！)是很不错！ 0.54！[学生 (1-14 15:18, Long long ago)] [ 传统版 | sForum ][登录后回复]24楼
(引用 学生:Eratat 又加了些！)再加了些！船要开了！[学生 (1-14 15:48, Long long ago)] [ 传统版 | sForum ][登录后回复]25楼
(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)Sunpower 又走了！[学生 (1-17 11:14, Long long ago)] [ 传统版 | sForum ][登录后回复]26楼
(引用 学生:又加了些Taisan！)再加了些Taisan。[学生 (1-17 11:21, Long long ago)] [ 传统版 | sForum ][登录后回复]27楼
(引用 学生:Sinograndness 好像不错！)SinoGrandness 已成为我第二大股！[学生 (1-17 11:40, Long long ago)] [ 传统版 | sForum ][登录后回复]28楼
(引用 学生:再加了些Taisan。)以我之见短期指数会横排和向下调的可能性会高过向上。STI中地产和银行所占的比重相当大海事和资源来股已涨了一大段了，而地产和银行貌似又梆在一起。目前咱似乎看不到那些类股能推动股指上攀。
我持观望态度.[峰峦 (1-17 11:53, Long long ago)]
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(引用 峰峦:以我之见短期指数会横排和向下调的可能性会高过向上。STI中地产和银行所占的比重相当大海事和资源来股已涨了一大段了，而地产和银行貌似�...)近来，中国股好像与STI指数没太大关系。 低估太久了！[学生 (1-17 12:01, Long long ago)] [ 传统版 | sForum ][登录后回复]30楼
(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)Foreland 也不错！[学生 (1-17 14:12, Long long ago)] [ 传统版 | sForum ][登录后回复]31楼
(引用 学生:Foreland 也不错！)周末受一位高人指点， 开市就买， 果然旗开得胜！[学生 (1-17 15:44, Long long ago)] [ 传统版 | sForum ][登录后回复]32楼
(引用 学生:周末受一位高人指点， 开市就买， 果然旗开得胜！)真是如有神助啊......[lioncity_sg (1-17 15:47, Long long ago)] [ 传统版 | sForum ][登录后回复]33楼
(引用 lioncity_sg:真是如有神助啊......)当时讲有50%的回报 (S$0.18)[学生 (1-17 16:09, Long long ago)] [ 传统版 | sForum ][登录后回复]34楼
(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)学兄的brightwor也花飙了...[lioncity_sg (1-17 16:11, Long long ago)] [ 传统版 | sForum ][登录后回复]35楼
(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)Sunvic 报告 （Phillip Securities Research） 20110117BUY
(Maintained)
Closing Price
S$0.71
Target Price
S$1.07 (+50.7%)
Trade price of core product holding firm
Revising our estimates up to factor in tax rebate, higher ASP and cracking plant
contribution
Maintain Buy, increased target price to $1.07
Tax incentive rebates
Sunvic announced that it has gotten approval to utilize the balance of the tax incentive which
was granted to its subsidiary in 2007 and 2008. The tax incentive amounts to RMB123.6
million out of which RMB11.5 million was already refunded in 2008. A further RMB19.3 million
would be refunded for 2010 while the balance of RMB92.8 million would be refunded by the
first half of 2011.
Benefits from mid-cycle expansion
In the tone of our strategist, the economy is in a mid-cycle which favours the basic materials
and capital goods segments. This arises from the general ‘feel-good’ sentiment of business
owners which then leads to investment and business growth. We classify Sunvic under the
basic materials segment which is appropriate as Sunvic provides the basic materials with
wide-ranging applications used in both the consumer and industrial sectors.
Persistently strong trade prices
Industry price for Acrylic Acid (AA) remains firm and checks on a trade website
www.16ds.com shows that prices for AA in China has steadily increased from July’10 till now.
We have not received permission to reproduce the price information so we can’t plot out a
graphical illustration, however the increases indicate that AA prices rose 11% in 4Q10 over
3Q10 and has remained firm. The prices of propylene, which is the main raw material for
synthesizing AA also increased during the same period, but at a lower rate of 7%.
Cracking plant contributes from 2Q11
The cracking plant will begin commercial production from 2Q11. The cracking plant has a 1
million tonnes refining capacity and will supply Sunvic with almost all of the propylene usage.
The cracking plant will also produce other refined products which will be sold to customers.
As the cracking plant is situated just beside Sunvic’s production facility, this upward
integration will provide cost savings in terms of lower transport and logistics expenses.
Raise our estimates and target price
We are adding in the tax rebates into our FY10E and FY11E estimates and also raising our
average ASP (average selling price) estimates in view of the persistently high trade prices.
Sunvic has a 71.2% effective interest in the cracking plant and we are consolidating the
revenue contribution. We are expecting 4Q10 revenue and net profit to come in at
RMB1,051.3m and RMB160.3m. This will bring full year revenue and net profit to
RMB3,504.5m and RMB 508.2m. We are raising our target price to $1.07, on 6x FY10E
earnings.
[学生 (1-17 19:47, Long long ago)]
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(引用 学生:当时买了Gaoxian, Sunvic, SinoGrandness, Qingmei, Eratat, 等等。)加了些ChinaFiberT.[学生 (1-18 9:03, Long long ago)] [ 传统版 | sForum ][登录后回复]37楼
(引用 学生:Sunvic 报告 （Phillip Securities Research） 20110117BUY (Maintained) Closing Price S$0.71 Target Price S$1.07 (+50.7%) • ...)Sunvic 成为我的第二大股了！[学生 (1-18 9:23, Long long ago)] [ 传统版 | sForum ][登录后回复]38楼
从现在到春节会很忙，会少来本论坛。相信各位过去三个月赚了不少， 希望大家接下来会赚更多！[学生 (1-18 11:41, Long long ago)] [ 传统版 | sForum ][登录后回复]39楼
(引用 学生:加了些ChinaFiberT.)跟着学生兄入了些CHINA FIBRETECH， 各位大佬可否评点下这只的走势，谢谢今天貌似动了些~不知还有没有上升空间[Elsa (1-24 10:22, Long long ago)] [ 传统版 | sForum ][登录后回复]40楼