METAL | Production | Processing | Trading

April 26 in Kunming Machine tool Published in 2010 a 1-March quarterly revenue the company completed 351 million yuan, up 48.1%; net profit attributable to shareholders of listed companies was 43.03 million yuan, up 57.6%. A quarter earnings per share of 0.10 yuan. Our analysis and determine 1) performance of the company's rapid growth is largely attributable to a sustained recovery as the economy, market conditions improve, showing a marked growth in downstream demand, driven machine tool industry to accelerate recovery. January-February 2010, China's machine tool industry to complete Pin Sales income of 67.95 billion yuan, up 37.5%; of which exports amounted to 4.46 billion yuan, up 25.6%; industry sales rate of more than 96% recovered to pre-crisis levels. The process of recovery in the industry, market structure differentiation significantly, the market demand to accelerate the trend of high-end product development, common, economical CNC machine tools Decrease in demand, popular type, advanced CNC machine tools demand continues to grow. According to the first 2 months of industry data, metal cutting machine tools industry-wide production of 88,170 units, up 28.4%; which CNC machine tool production was 24,332 units, up 57.7%, far exceeding the industry average growth rate, fully demonstrates the high market rapid growth in demand-side machine status. 2) trade and technological progress continue to speed up the recovery performance of the company's growth in the formation of double support. The company's leading product floor milling Boring And horizontal boring and milling are all high-tech CNC machine tools; particular floor type boring and milling machine, as the upgrading of the company developed products are widely used in Mining Machinery , Wind power, shipbuilding, construction machinery and heavy equipment, processing, market demand has been growing in recent years has been a major driver of growth performance of the company, in 2009 overall downturn of the industry, the company's floor-type milling and boring machine also maintained a 23.5 % growth in 2010 is still the company's revenue and earnings growth, most important driving force. The company will continue to promote Boring and Milling machine tools and other major type, but also will further consolidate and expand the competitive advantage of horizontal boring and milling and market share. For the past two years introduced CNC Gantry Boring Milling And related Key Feature product, the company will improve product quality and market development have increased efforts to foster new growth the next two years to prepare. 3) To further expand the sales network, optimize the customer structure, to avoid fluctuations in the economy is significantly affected by the company management, the company stressed that open up new markets, focusing on the new energy, railway construction and extension of military and automotive industries. We believe that the current trend of China's rapid economic growth more clearly, the manufacturing sector will be an important driving force of economic recovery. Construction machinery, wind power, railway, mining and other downstream industries will continue to faster growth; while high-end machine tools to the trend of development is also beneficial to the company's products. 2010 company revenue target for the completion of 1.8 billion, net profit of 260 million yuan, respectively, an increase of 31% and 22%.

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