Glass prices in the hottest glass industry have ri

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Glass industry: glass prices have risen

the change in glass prices is in line with our judgment on the price of ordinary glass in the second quarter in the glass industry report on March 30: the experimental force that glass fixtures can withstand is a very important indicator of fixtures. After the price reduction in the early stage, the inventory at the micro level has decreased significantly. In the second quarter, it was mainly stabilized, and there is no room for further decline

the short-term change of glass price does not affect the investment logic of our recommendation of glass stocks: the boom of the general glass industry oscillated at a high level in 2010, and faced the pressure of production capacity in the second half of 2010. Therefore, the boom change of the glass industry is not the decisive factor to determine the glass stocks, but carbon materials are the supporting factor of new materials developed in recent years, because the great growth of the performance of glass stocks in 2010 will be guaranteed, Judging from the situation in the first quarter, the two major glass enterprises have announced a substantial pre increase: CSG increased by 369% year-on-year; Jinjing increased by more than 500% year-on-year. On the one hand, the industry was at a historic low in the same period last year. On the other hand, although the glass industry fell significantly in March in the first quarter of this year, the industry's profit margin remained at a high level in the same period in history

in the case that the performance of the ordinary glass industry does not become a negative factor in investing in glass stocks, but a supporting factor (of course, it is not a decisive factor), we believe that the investment logic of the two glass companies is relatively smooth: CSG: low glass will become a long-term investment bright spot in the glass industry. With the continuous upgrading of housing consumption level, the sensitivity to the use cost of low glass will be further reduced, Low glass itself can achieve rapid growth in the future. If relevant policies can be coordinated under the current background of building energy conservation, it will be icing on the cake, and the growth rate will be faster in the future. China Southern glass is undoubtedly the most beneficial enterprise in this market segment; In addition, the solar business is also at the bottom, showing signs of gradual recovery. We continue to recommend CSG. We maintain the EPS forecast of CSG from 2010 to 2011 at 1. 0、1。 3 yuan, we maintain the company's target price of 30 in the next month. 00 yuan, equivalent to 30 times PE in 2010 and 23 times PE in 2011

Jinjing Technology (12.25, 0.00, 0.00%): soda ash business is a highlight of the company this year, According to the current price of soda ash, "through online to offline enabling companies, we predict that the monthly profit of soda ash will be about 20million, and with the gradual release of its downstream glass volume (which is positively related to glass output) , soda ash can still maintain a high boom; The company's ultra white glass can also become a highlight of the company as in previous years, especially in the expansion of solar energy field; In addition, we are also actively concerned about whether Jinjing technology listed companies, like other mainstream glass enterprises, will strategically intervene in the glass deep processing industry, especially the low glass market, which has a large market space in the future. (at present, major glass enterprises such as CSG, Xinyi and Taiwan Glass have formed certain advantages in the low glass market) we maintain the EPS forecast of Jinjing technology from 2010 to 2011 at 0. 79、1。 22 yuan, maintain the recommended investment proposal

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