129779318752656250_0 <a href="http://www.power-leveling.co.uk/tera-gold/">tera gold</a>2011 profit increase of 1.37 times times better than market expectations: as the cement industry supply and demand continued to improve, the company recorded a growth in cement production and prices allows the company revenue for the year increased by RMB 54% per cent, vested in the shareholders ' profits surged 8.015 billion to $ 1.37 times times, basic earnings per share of 1.48 dollars, excluding Southwest set up by the end of 2011 after a concrete contribution to revenue and profit is still better than market expectations, 0.215 million final income, comprehensive dividend for the year to 15%. Cement sector contribution to overall revenue of the company 74%, the business sector price Qi Sheng is the main factor driving company growth, cement sales rose20.6% per cent tons, cement prices rose an average of 30% per cent to $ 324 per ton. Benefit from tons of Maori in cement prices have risen: collaborative consensus due to increased demand for cement and 2011 per cent rise in the cost of increases in cement prices, makes the company consolidated gross margin rose 5gebaiPoints to 26.6% which cement gross margin rose 6% per cent in, tons of gross margin rose from $ 32 to $ 86; Southern Cement gross margin and the increase of 9.2% per cent, tons of gross profit rose 51 108 Yuan; Northern cement gross margins increased by 10.4% per cent, tons of hairProfits rose from $ 36 to $ 91. East China cement price stability increase in cement sales rose to 20% in the South: traditional market in East China before and after the spring festival season
tera power leveling, rainy weather and put into production new capacity larger
tera power leveling, Eastern cement prices decreased 1 quarter 4 quarter of last year and today, but it is expected that the most difficult period is over, cement price stability in East ChinaRose.����As southern cement company cement Division's biggest subsidiary, sales of 100 million tons last year are still 20% on the basis of growth, sales of up to 120 million tons this year. Southwest cement to form collaborative time higher than expected: southwest of the company is determined to be another important strategic area, in December last year to form the Southwest cement company by 2011Capacity of 25 million tonnes at the end of, is currently in financial capacity of 80 million tonnes, is scheduled for completion this year above the basic layout, capacity of more than 100 million tons, representing southwest regional 20%-25% market share. After 08 earthquake in Southwest China capacity expansion, overcapacity currently result in low industry profit, the company had expected beginning 8 SeptemberTogether, but this time advanced to May believe after 3 month of August we will see Southwest cement prices up.����Southwest cement industry profits in 3 years is expected to be comparable to the cement and the South. Capital increase and the North, Southwest big mixed business: company plans capital increase and cement in the North and South of cement and cement equity share increased from 55% in the North to 75%, Expected to be completed in April to; Southwest cement increased from 50% to 75%. The capital increase activity can bring to corporate profit growth. Extension development matured in cement industry was marked on the industry downstream, through the restructuring of the company make a big mixed business, 2011 mixed by the end of production capacity of 55 million cubic meters, currently 80 million cubic metres, target 1.100 million cubic metres.����Average purchase price is 35-40 Yuan/cubic meters, each party mix net profit is expected to be up to $ 36. Target price of HK $ 14.5, maintaining buy ratings: taking into account the average valuations in the cement industry, as well as the company's leading position and compound growth in the coming years, we maintain the company's target price of HK $ 14.5Or 2012 PE, representing a rise in new 39.6% space.
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