The LED illumination in the booming development stage, pull the LED testing instrument < http://www.semilamp.com > demand. LED lighting is not yet, product development and check the both need a great deal of photoelectric detection, national semiconductor lighting engineering research and industry federation predicted 15 years LED to domestic industry photoelectric detection laboratory equipment demand will reach 1.2 billion yuan, and the compound annual growth rate of 34%.
The company has technical accumulation, the product performance and import equipment quite. The company in the field of photoelectric detection technology has more than ten years' accumulation, through the continual upgrading of product performance improve added value. The company equipment complete kinds, can provide clients with one-stop service. The company equipment has been smaller changes can be applied to an object technology color and composition detection field, a broad market space.
The company have a cost advantage and local market advantages. The products of the company for small equipment, subsidiary of income than in software by more than 50%, related development personnel salary significantly lower than foreign competitors, the company have a cost advantage. Our country the LED illumination enterprise numerous, company with local market advantage.
Offering to cast project LED the market to expand capacity. The company plans to spend 116 million yuan, focusing on the market and increase of of all kinds of equipment LED to 750-1500 sets, output growth than 10 100%-158%. The r&d center and the sales service network project is spent 63.35 million yuan, used to increase the company technical reserves, enhance marketing service ability, be helpful for the long-term development of the company.
The profit forecast and company valuations: 11-13 expect the company earnings per share for $1.46, 2.14 yuan and 2.89 yuan. Similar analogy of listed companies, advise the company 12 years of reasonable p/e ratio is 18-23 times, corresponding valuations interval 38.52-49.22 yuan.
Risk tip: LED lighting investment growth wave, offline testing equipment demand saturated.
