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Zhengzhou Huaxin Refractory Material Industry Co., Ltd.

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Guotai Junan Comments building materials industry: upstream and industry consolidation opportunities

Number of visits: Date:7/20/2010 05:08:36

Abstract:

China's refractory industry basically maintained a growth rate of more than 20% (8% in 2008), 2009 annual growth rate of 33%. At present, production and sales of refractories refractories has remained the world's first. In 2007, refractories production in China has more than 50% of total world refractories, the annual sales income is above 100 billion yuan, total profit of 8.0 billion break. Refractories industry "two high" proportion of the costs of raw materials accounted for more than 50%, gross margins as high as 30%. Mainly due to refractory industry has a relatively high technical requirements, and downstream firms need to be quality assured and stable refractory to ensure the sustainability of their production, stability and security. Therefore, the four listed companies for its technology-based high-tech and R & D ability to win. Refractories for the inevitable trend of industry consolidation mergers. Is mainly upstream integration and industry consolidation. Integration of listed companies have the resources or will occur in refractory enterprises have customers. Pu-resistant shares (002,225, stock it) proposed the first allocation, holdings, target price of 17.4 yuan.

TypeInfo: Industry News

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