Industry demand to pick up, the company improved the marginal margin significantly
Forklift sales for three consecutive months of growth of more than 20%, pick up obvious signsForklift industry 8-10 months for three consecutive months of sales growth of more than 20%, the third quarter since the industry demand to pick up the trend gradually established, in accordance with the current industry growth, we judge the 2016 forklift sales is expected to record high. The main reasons for the demand for the truck industry are: (1) the demand for industrial enterprises to pick up, the recovery of industrial enterprises to recover (2) the rapid development of commercial logistics, driven the demand for industrial transport forklift; (3) labor costs continue to rise. Demand in the current round of recovery, in the time scale, many areas remain the same, the recent construction machinery, machine tools, robots and other areas of demand improved, the middle reaches of the manufacturing sector needs to pick up from the point to face spread.Anhui Heli is a forklift leading enterprises, financial health and sound, is expected to benefit from the industry to pick up
Anhui Heli is the leading enterprise in the field of domestic forklift, the market share for many years ranked first in the industry, from the past financial situation, from the company’s revenue and profit growth, cash flow, asset-liability ratio and other indicators, the company operating a sound, Finance is very healthy. The current round of forklift industry needs to pick up, the company is expected to continue gains. From the company’s third quarter earnings have been revealed, the third quarter revenue, profit growth significantly improved in the current demand pattern, the fourth quarter is still expected to continue.Actively explore new products, state-owned enterprises to accelerate the reform to enhance the vitalityIn recent years the company in the electric forklift, intelligent forklift and forklift rental business continues to develop, and gradually expand the connotation and extension of forklift manufacturing. In addition, the company benefited from the reform of state-owned enterprises in Anhui Province, state-owned enterprise reform is expected to enhance the company’s operating vitality.Investment advice: the company is expected to 2016 – 2018 annual income of 67.72 74.66 7.849 billion yuan, corresponding to EPS were 0.80 0.89 0.93. Companies operating sound, financial health, compared with the industry, the current valuation of the company have certain advantages, we continue to give the company “buy” rating.Risk hint: macroeconomic fluctuations brought about by the downstream demand uncertainty; raw material prices brought about by the decline in gross margin; industry competition; state-owned enterprise reform lower than expected.