Global chemical valuation level analysis
Light Girder
Suspension Crane
Maximum load:
2000kg
Used to transfer materials overhead,
our Light Girder Suspension Crane is especially suitable for use in workshop
that have low ceilings as well as factories and sites made of lightweight steel
frames where the bridge Crane reaches its limit.
The modular design contains fewer
standard parts that make crane assembly as easy as stacking blocks. With these
modular parts, users can reassemble a new crane, according to the change in
lifting requirements of the alterations made to the workshop.
Due to the ultra-light weight of the
crane, there is little friction between the trolley wheel and the rail. Easily
moved by hands, this suspension crane can move clumsy, heavyweight workpiece in
a fast manner. Available also with the mechanical electrical Chain hoist, hoist
drive, electrical control device, and matched system, the crane requires
limited maintenance and has a long service life.
This series of crane can run on both
straight and curved rails. By using many other modular parts, it can be
reassembled to become the single-girder or double-girder crane. Each of the
modular parts is bored to the standard connector for its size. So the crane can
be adjusted according to the layout of the worksite, in order to suit the
specific material handling requirement and satisfy customer specific needs.
Optional Parts
Aluminum rail
Railway turnout
Elevating platform
Power supply device
Electrical travel drive system
Light Crane,Flexible Combined Crane,Light Combined Crane,Light Duty Overhead Bridge Eurocrane (China) Co., Ltd. , https://www.eurocranegroup.com
In the international community, chemical companies are generally divided into two major categories: bulk chemical companies and specialty chemical companies. The substantive difference between the two is that the technical barriers to entry and the competition in the industry are different. The competition for bulk chemicals lies in the cost advantage, and special chemical The product is more important in terms of technology and R&D capabilities. In terms of profitability of enterprises, the general profitability of special chemicals is higher than that of bulk chemicals.
Because the difference in entry barriers and market competition of bulk chemicals and special chemicals has brought about different levels of profit growth in the future, the market has given different valuation levels. The valuation of international specialty chemical companies is significantly higher than that of bulk chemicals companies. According to the valuation of the 2007 average earnings estimates, the average PE level of special chemicals in the US market reached 16.9 times, EV/EBITDA reached 9.0 times; the average PE level of US bulk chemicals was 11.6 times, and EV/EBITDA was 5.6 times.
In comparison with the current valuations of international companies, most of the chemical companies that we focus on have a large discount. Because China has a huge consumer market, the demand for domestic chemical products grows far more than that of developed countries. At the same time, due to the low investment cost, resource cost, and labor cost, Chinese companies have brought the company's comprehensive cost advantage. The long-term growth potential of Chinese companies in the future is greater than that of international companies.
Bulk Chemicals: After Hualu Hengsheng added diluted shares, PE was less than 9 times in 2007, and its future growth is clear. Maintain cautious recommendations. Shenyang Chemicals considers PE to be approximately 13 times in 2007 after being diluted. As the future earnings may exceed expectations, the potential for significant growth in 2008 and 2009 will be maintained, and “long-term recommendation†will be maintained. The valuation of Yuntianhua in 2007 is less than 9 times. The expansion of glass fiber production capacity is rapid and the gross profit is stable. It can make up for the decline in profitability of the urea business and there is room for future valuations.
Special Chemicals: Xingxin Materials had a PE of about 13.5 times in 2007, and Xinan's 2007 diluted PE valuation was about 14 times. There is ample room for improvement in 2008 results, and “prudent recommendations†are maintained. Shanxi's three-dimensional diluted PE level in 2007 was 13.8 times. The growth in 2008 was also relatively clear, and the “prudent recommendation†was maintained. The performance of the San Ai Fuli Group is relatively poor, but we believe that the growth of the main business in 2007 will be determined. If management incentives can be implemented, there should be room for upward valuation.