Hangmin shares: Industrial diversification printing and dyeing leading Maikangzhuang Avenue

Business News Agency August 10 News Airline shares released the 2011 interim report. The main operating results are as follows: In the first half of 2011, the company realized main business income of 1,135,858,800 yuan, an increase of 6.84%; operating profit, 151,322,200, an increase of 1.56% over the same period of last year. The total profit was 1,602,205 yuan, an increase of 5.62% year-on-year; the net profit was 110,126,400 yuan, a year-on-year increase of 8.00%. Earnings per share was 0.26 yuan, an increase of 7.88% year-on-year.

Our main points are as follows:

1. In the first half of the year, operating income increased slightly year-on-year, and printing and dyeing achieved steady development; 2. Gross profit margin remains basically unchanged, diversification improves gross profit margin; 3. The company's inventory decreased month-on-month; 4. Pay attention to research and development, strengthen management, management expenses rate increased year-on-year; 5. Leading companies benefit, diversified development of industrial chain, 6. It is expected that the company's operating income for 2011 and 2012 will be 2.599 billion yuan and 3.189 billion yuan, respectively, and earnings per share will be 0.632 yuan and 0.789 yuan respectively. Currently, the corresponding PE is 12.42 and 9.45 times, respectively, and the "recommended" rating is maintained.