Linear light is a type of Pendant Light that is primarily made of lines and is usually made of materials such as metal, wood, or plastic. The design of the linear light is simple and modern, suitable for various interior decoration styles, especially for modern minimalist style homes. The shape of the linear light is diverse, it can be straight, curved, or a combination of multiple lines to form a complex shape. The light of the linear light is soft and uniform, suitable for lighting in places such as living rooms, dining rooms, and study rooms. Linear Pendant Light,Flush Linear Light Fixture,Linear Light Fixture For Dining Room,Linear Light Ceiling Zhengdong Lighting Co., Ltd. , https://www.sundint.com
Superhard materials are still the main source of the company's operating revenue in 2010, accounting for 74.72% of the company's operating income, accounting for 81.38% of operating profit. The gross profit margin of super-hard materials is basically stable, but the proportion of the company's main business is slightly lower than that of the previous year.
Metal Powder's share of its main business income increased from 4.75% in the previous year to 6.98%. The proportion of its main profit increased from 2.93% in the previous year to 6.02%. The gross profit margin also increased from 17.5% in the previous year. At 25.15%, it showed a good development trend. In addition, the proportion of super-hard composite materials and super-hard tools in the company's operating income and operating profit has also increased, sales gross margin has also increased; but currently the proportion of the main business is less than 5%, the contribution to profits is very limited.
The growth of metal powders and super-hard composites is expected to drive the company's performance to continue to grow. The company's expansion in the secondary business is expected to enhance its competitiveness. Investors are advised to pay close attention to their progress.
Based on the principle of prudence, the impact of fixed-income on equity is not considered at present. It is expected that the company's 2011-2013 earnings per share may be 0.43 yuan, 0.75 yuan and 0.99 yuan respectively. Give an investment rating of overweight.
The whirlwind of the Yellow River (600172): The future is still in the "mainholding" of the main business
In 2010, the company achieved a total operating income of 821.476 million yuan, a year-on-year increase of 37.29%; operating profit of 77.4447 million yuan, an increase of 153.05%; net profit of 67.568 million yuan, an increase of 187.98%. The increase in corporate profits far exceeds the increase in revenue mainly due to the recovery of bad debts of receivables, followed by the year-on-year decrease in cost and expense ratio.