Position:China Rare Earth Network>Market Analysis>Include steel rare land: Price of praseodymium neodymium oxide or drop to bottom
Include steel rare land: Price of praseodymium neodymium oxide or drop to bottom
From;  Author:Stand originally
Because price of praseodymium neodymium oxide drops quickly, accordingly, the outstanding achievement of company second half of the year will get major effect. According to at present the price of all sorts of oxide, the integrated price of oxide of our estimation company is 34000 yuan / ton, and the rise as a result of raw material cost, the integrated production cost of oxide criterion by 20000 yuan / ton rise 23000 yuan / or so tons, the wool interest rate of oxide of company rare land by medium-term 45% drop 32% , look objectively, interest rate level does not consider this wool low. Want prep above to go up as a result of the selling quantity of company of second half of the year annual, lead a level according to this gross profit, company second half of the year wants 120 million yuan when remain in target of profit of 370 million yuan of net to complete year, should be very relaxed, we reckon the net gain of second half of the year will achieve 160 million yuan.

9 years, according to price trend, our estimation, the profit increment that brings about as a result of difference of lanthanum cerium price is controlled 35 million yuan, because barter policy changes,the profit increment that bring about is controlled in 65 million yuan, accordingly, we estimate, 9 years the net gain of annual keeps balance basically with 8 years. If consider to buy, the growth of so net gain can be between 25%~35% .

According to the situation that newest understanding reachs, we the company 08, EPS of 9 years calculates a value 0.73 yuan from early days, reduce 0.51 yuan 1.05 yuan to mix 0.66 yuan, among them outstanding achievement of 9 years is forecasted included those who buy to anticipate. Although we reduced gain to forecast according to industry trend and company the actual situation, but, we also think at the same time, on one hand, the denotative type dilate of company future and inside natural disposition growth still is worth to expect; The 2nd, company share price is close 2 many months drop substantially, reflected the change of main area already adequately; The 3rd, the outstanding achievement of second half of the year behaves a bottom line that is prospective outstanding achievement, on this bottom line, outstanding achievement of 9 years has had relatively firm base actually, and through buying, growth of 9 years still sees so that see.

Accordingly, continue to worsen in most industry and company outstanding achievement in the investment climate with unidentified foreground, bag steel rare earth has such having outstanding achievement bottom line, the company that has constant growth still can yet be regarded as a nice investment variety. Continue to keep the investment grade that recommends to the company.