One, Chinese wind news
1. The dispute of share price: As our country, it is the first and pure to do the stock company of the wind group production of electrical machine, golden wind one of science and technology ranks among the big share of 100 Yuan on the market. According to 3 quarterly each profit 0.23 Yuans of 2007 years that it announces , this profit rate of the stock market has exceeded 400 times. The golden wind share price of science and technology arouses field query.
Golden wind science and technology occupation Chinese wind news the share of equipment market 33%, ranking global 10th and China are first, though produce per year can only the Taiwan more than 100, hand holds the large order of near 600 sign tile level aircrew, producing contract even row have been 2011, is valued afterwards therefore by organization. Golden wind science and technology the on the market first tendency of day is to have surpassed the expectation of market in other words, he thinks that the appearance of this kind of tendency follows its this concept subject " wind energy" as well as dish little relevant department.
Organization grows up before this for golden wind science and technology to the price interval that happens on the foundations such as company's investigation and achievement increase based on value to reach , organization estimate value is also possible and prudent somewhat. Golden wind science and technology the tendency that appears on the market has certain relation with the promotion of fund quantity. For the investor who values this share , though this share has certain position in new energy, but at present price go up, should hold prudent attitude still to observe in advance moreover.
" flow if saying on the market first day into fund to be fund, that between meaning fund manager still thinks that golden wind science and technology have line space. If estimate in advance according to the achievement of each 2 Yuan of 2008 years, its price/earning ratio the times more than 60 in, belong to the average level of little board. " the certain energy analyst of securities trader thinks.
In fact, golden wind science and technology estimate value, have daunted a batch of fund manager," new energy lets me how to decide ". Certain fund company's manager in telephone wry smile show to media, " abroad mature market, like the companies such as solar energy, price/earning ratio is very high, 2 or 3 a hundredfold has , in domestic this how to fix a price , I now eat to forbid. "
I think only see share price price/earning ratio outside, company located profession and the position in profession and company's compound growth rate are to influence share price factor , can not sheet since see share price on the one hand.
2, the problem that market mainstream product is faced with: Set foot in wind as China most early news the company of profession, golden wind science and technology occupy absolutely leading position in the wind group market share of electrical machine of 600 KW and 750 KW, according to it, recruit share manual, the wind of its production news generator occupation the 33.29% of the share of home market , take the 80.81% of capital enterprise aircrew market share.
But the mainstream type of market does not be 600 KW or the aircrew of 750 KW. Golden wind science and technology also claim in it recruits share manual that 2005 ago, the aircrew of 600 kW is the type of main force on home market, after 2005, the aircrew of 750 KW becomes the type of main force gradually, after 2008, the aircrew of 1.5 MW will become the type of main force. Golden wind science and technology are in the aspect of the wind group development of electrical machine of 1.5 MWs do not possess first machine, in 2007, have produced 80 only, it develops the R%26D used in the wind group of electrical machine of 1.5MW, 2.5MW, 3 MWs and 5 MWs if publishing the fund raised this time openly have 610 million Yuan.
3, the dispute of the rate of gross profit: According to insider, reveal that present golden wind science and technology and east are electrical( 600.875 thousand, SH) and Xiang news stock( 600.416 thousand, SH) the fan of 1.5 MW when hand order is 15 billion Yuan. In which, eastern electric has had the productivity than the steady wind group of 1.5 KW of electrical machine, according to the information that it shows openly, this kind type rate of gross profit is 10%.
According to news from domestic wind, the competition of complete machine market is already very intense, though national policy requirement large scale wind news the rate domestic of equipment must reach 70%, but according to news from the present wind domestic, some complete machine crucial components are imported if axle center, blade and keel rely on , this part of cost is also relative and higher. In this year, golden wind science and technology have not still produced basically to sell the fan of 1.5 MW , financial data can not reflect future market completely truely achievement. Though, have not realized large-scale production yet to sell , but it will reach 20% if golden wind science and technology introduce the rate of gross profit of its fan of 1.5 MW on it recommends meeting on the market. " I for this doubt of data presentation. " Wang Peng says. However, golden wind Dong Mi Cai of science and technology dawn plum shows when accepting reporter interview, golden wind science and technology when wind news market operation many years, it has the supply chain stabilized by oneself and sells customer, the rate of gross profit affirms comparatively recently into trip person is higher somewhat.
4, analyst points out , according to its 2007 growth rates more than the net profit average 50% of 3 years with estimated securities trader, even if each profit reaches 1.21 Yuan, 1.67 Yuan and 2.38 Yuan respectively, it now exceeds the share price of 100 Yuan and price/earning ratio already overdraw does not come for two years achievement. Besides, according to the breath of open letter, show that thirdly in quarter, the income of main business of 695.8653 million Yuan is also close to the thirty percent of the base net profit of last year only below the net profit of 119.6963 million Yuan and half of the base income of last year of main business , is seen from present price, having estimate surely high, rear city risk is not little , investor should treat carefully.
2, invest
1, extend wind news service industry, increase profit bright spot: Compare with wind electrical machine to organize complete machine manufacture , the new commercial route that golden wind science and technology are trying seems. According to it, recruit share manual, this time open publication part raises fund, in the input of 281.6 million Yuan develops this kind of wind electric field seller field pattern. The so-called wind development of electric field is sold , denote from the wholly-owned subsidiary establishment wind of golden wind science and technology news development company carries out wind news project investment construction, the premium after builds completion sells project company's stock right in order to get profit. Cai Xiao Mei expresses that this year will sell more considerable fund input to the wind development of electric field, " this also is domestic is concerned with wind in news industrial stock company first have this try. As Cai name, this kind commercial pattern is just developed from 2007. Now, having had to have to remit wind energy implement crow to pull the special wind project of electric field , Ma depend on this tower testing demonstration wind project and golden wind of 49.5 MW of electric field to reach Mao the demonstration wind project domestic of electric field. Basis the stipulation of National Development and Reform Commission, large scale wind news project adopts wind news the way of the project public bidding of chartered right goes on. Is beginning from 2006 , National Development and Reform Commission adoption will invest in enterprise and wind news equipment manufacture the way that enterprise binds public bidding , but some small-sized winds news project may alter member by province hair to decide whether approve independently. The 3 above-mentioned wind projects of electric field that golden wind science and technology are building belong to this row. According to insider scholar, reveal that this kind of premium of " the wind sales of electric field " will reach 70% more. " succeed if runing , this will become golden wind science and technology a new profit growth point. " Cai expression.
2, company's self peculiar advantage: Company will have the aid of the strong support of capital market as well as according to news from self rich wind, industrial experience and good brand are vivid reasonable regional strategic layout and the control ability of supply chain of, unceasing strengthening , straight Qu the technical advantage of type and the management advantage of private enterprise, become profession ultra routine development the oldest beneficiary of stage.
3, golden wind science and technology are the present domestic biggest generation set of wind power complete machine manufacturer, also is present market goes up only a is pure with wind news the company with complete machine manufacture of main business. The unremitting effort via 10 years, golden wind science and technology become present domestic biggest wind news the complete machine equipment manufacturer and Xinjiang of research and development high technology manufacture industrial outstanding representative, company is from 2000 , continuous 7 years are taken in maintain 100% with profit more increase speed, is domestic wind news the tap enterprise with completely deserving market. In 2006, sales revenue is as high as 1530 million Yuan, net profit is as high as 319 million Yuan , has occupied the domestic market share and the base of 2006 years of 1/3 of fan equipment, company amounts to the fan of production to take arrive capital manufacturer total production the 83.36% of fan, take the 25.68% of the machine capacity of general assembly, it is first to rank; In the fan installed capacity that whole world increases in 2006 recently, golden wind science and technology produce fan to take to 2.8% , rank 10th, have promoted wind news the country of equipment produces melt , is domestic completely deserving wind news leading enterprise. According to eastern bond forecast, its each profit of 2007 years will be more than 1 Yuan , each profit of 2009 years will break through 2 Yuan.
4, now, the existing productivity of company's sign tile level aircrew has only 100, 150 thousand kilowatts controls , raise fund project goes into operation will maximum raising company's sign tile level aircrew produce can: The fund raised by this golden wind of science and technology will make investment produce can build , research and development of products and the wind development of electric field sales 3 big kinds of project. Produce can after construction project establishes completely, company will increase 900 thousand kilowatts of single class , the productivity of 1800 thousand kilowatts of two classes.
5 tends to gradually the energy price and increasingly heavy environmental pressure that runs high to our country, develop new energy to generate electricity to bring realistic demand. In present new energy the way of generating electricity , the soft breeze of solar energy of photovoltaic generating news is most the two technologies of mainstream, relative to price Gao Qi of solar energy of raw material , the market general layout of " besides both ends in ", it is that technology most ripens that now, wind power generates electricity , the new energy with minimum cost the way of generating electricity , the prospect of the future is also valued in field.
Wind news industrial development estimated future 15 years, according to news from global and Chinese wind, the annual complex of installation amount increases speed, will reach 20% and 26% respectively. The double pressure in human reply energy safe and climate change takes off , according to news from wind, rely on technical relative maturation , have to commercialize scale the comparison of application advantage, have risen up from the development of various renewable energies, It is expected that to 2020, may take the about 10% of electric power of installation amount, according to news from domestic wind, equipment produces per year value, have exceeded the Yuan of ten billion, for wind news enterprise has offered is historic to dig golden opportunity.
Now, the sea land resource amount of wind energy of our country is more than 2000 million kilowatts , but develop the amount of wind energy to reach 1000 million kilowatts , go to the base domestic wind of 2006 years news the 2600 thousand kilowatts of machine capacity contract of general assembly, take whole country only to generate electricity the 0.4% of the machine capacity of general assembly. However, domestic wind news industry already since Dao enter growth into issue to expect , the domestic development of next step of industrial policy and more golden wind science and technology that promotes to develop renewable energy actively has offered wide market stage.
3, stock
1. The company's shareholder Xinjiang limited responsibility company of wind energy, the Chinese investment group company of water conservancy and the Shenzhen new wind investment of distant view consult limited company and its relation company's Shenzhen far wind investment limited company, the Xinjiang research institute of wind energy and Shenzhen distant view, can invest in the consulting promise of limited company recently: Turn over a new leaf the boundary golden wind stock of science and technology of Joint Stock Limited Company appears on the market day rises for 36 months, not transfer or the stock that entrusts the management of other person to be held , also not counter-purchase the stock held by the Xinjiang golden wind Joint Stock Limited Company of science and technology; Company's shareholder China - Belgian direct stock right the promise of investment fund: Turn over a new leaf the boundary golden wind stock of science and technology of Joint Stock Limited Company appears on the market day rises for 36 months, do not transfer the stock held , also do not counter-purchase the stock held by the Xinjiang golden wind Joint Stock Limited Company of science and technology. Above shareholder thinks over hold share to take company's publication the 55.18% of former total capital stock.
2, other shareholder promises: Turn over a new leaf the boundary golden wind Joint Stock Limited Company of science and technology appears on the market day rises for 12 months, not transfer or the stock that entrusts the management of other person to be held , also not counter-purchase the stock held by the Xinjiang golden wind Joint Stock Limited Company of science and technology. Besides, high pipe people, prison matter and the director as our shareholder still promise according to "company law" related stipulation, during holding a post , the stock of annual transfer does not exceed me to hold the 25% of the golden wind stock total of science and technology; Leaving job for second half year, do not transfer the golden wind stock of science and technology held.
3, management level holds share condition:
4, before golden wind science and technology appear on the market , stock right scatters relatively, stock right structure is reasonable, besides 4 state-owned corporate shares and 25 social corporate shares, company still has the 30 shareholders of natural person. Golden wind science and technology urge livelihood the 2 millionaires of 1000 million and 26 billionaires on the market immediately and 2 must millionaire. Golden wind science and technology create 28 homes on the market on first day to exceed the millionaire of hundreds of millions , refresh Chinese the stock market again " make rich record ". The companies such as former this Beijing bank and Ningbo bank appear on the market also have batch achievement millionaire. Even the giant that appears on the market in the stock exchange of New York network has also created 21 billionaires only.
According to the price of opening quotation, come to calculate , this firm is in charge of in large quantities high to become the beneficiary that makes this time to have. The golden wind first nature person and shareholder of science and technology , the company's CEO military steel of chairman of the board holds share 10.548 million is the first shareholder of natural person, personal value exceeds the quantity level of 1000 million Yuan instantly, and it is 7,620.3 thousand that general manager Guo Jian holds , ranking second, home also exceed 1000 million Yuan; Picture the horse soldier and Dong Mi Cai of chief engineer of wild goose a dry high pipes such as dawn plum domestic error 100 million Yuan. It is 6,434.1 thousand that Beijing golden wind company's vice-general manager king enters to hold , market value reaches 842.8677 million Yuan; It is 5,263.2 thousand that company's vice-president Li Li holds , market value reaches 689.4792 million Yuan; The total stone of economic engineer is settled frequently it is 4950 thousand that parting with vice-president Wang Xiang Ming hold , market value reaches 648.45 million Yuan, this firm amounts to the super 100 million Yuan of personal value that has 28 persons.
Besides, the glamour of golden wind science and technology that invests in PE shows that has no to lose - - natural person shareholder Zhao Di to store so as hold 1,845.9 thousand become its 25th shareholder of natural person. And it can be that Zhao Di stores the increase on wealth, also it buies a share golden wind science and technology have created a record perhaps. Basis recruits share manual to show , May 14,2005, Zhao Di stores buy with the price of each 1.81 Yuan since Beijing monarch joins the intelligent field investment consulting hand of limited company into golden wind science and technology 410.2 thousand, pass afterwards is a series of to turn share and bonus, it is 1,845.9 thousand that Zhao Di stores the stock of the golden wind science and technology that hold to reach , it is compared with that according to the yesterday calculation of closing price, its total market value reaches 241.8129 million Yuan and its input to purchase the cost of golden wind science and technology , Zhao Di stores the rate of investment returns in two years to reach 325.7 times.
This part of shareholder some of natural person are at the beginning of company's wound lifetime buy a share shareholder, for example hold the with 4500 thousand shares for dawn great waves are " well-known company's senior statesman ", however, the more shareholder of natural person is still the high pipe of company. After company sets up , the stock right of natural person has passed some of developments, a lot of employees such as the horse soldier of wild goose receive stock right because of the contribution for company to reward , have just formed company gradually for now company's staff hold share situation.
Besides, before when appear on the market , company returns have sent considerably to turn one stock right. The company of basis recruit share manual, the first half of this year company with stock total 100 million is base number, turn to increase and send bonus , this makes original each a have become 4.5, process such turn time increase, the share number of natural person looks more astonishing.
However, though these hold share persons rank among " billionaire club", but what get is " the wealth on paper" only. Promise as high pipe people, prison matter and the director of company's shareholder in recruiting share manual: Day that appears on the market from the golden wind stock of science and technology rises for 12 months, not transfer or the stock that entrusts the management of other person to be held , also when hold a post for duration the stock of annual transfer does not exceed it the golden wind stock of science and technology held the 25% of total.
4. The bonus
2006-12 - 31 each profit 3.2, 10 sends 18.6
2005-12 - 31 each profit 1.6, 10
2004-12 - 31 each profit 1.31,
Company's
5, operation
A and company's
( Yi) main
Our main business is the development of the large scale generation set of wind power , in production and sales, examination type wind power generates electricity operation and the construction of site.
( 2) major
The golden wind current products of science and technology has 600kW, 750kW, 1.2MW and the series generation set of 1.5 MW of wind power mainly, the product that been developing has the partially new type of 1.5 MW, 2.5MW, 3.0MW and the 5 MW generation sets of wind power. Company is the national large scale project and national "95" and "15" of wind power of generation set of " 863 " , "115" science and technology tackle key problems the focal point of project undertakes unit, now is undertaking "115" country science and technology support " plan the big power wind group R%26D and demonstration of electrical machine " the 3 subjects of major project. The company's product of 1.5 MW of wind power of generation set has begun batch through the national project acceptance of " 863 " in 2007 to enter market , win the bid the wind of the Beijing "the Green Olympics" of Guanting Reservoir of 2008 years news project, become the equipment supplier of wind power of generation set of this project. Company's product is the large scale equipment of neting the type generation set of wind power , is the crucial equipment that wind power generates electricity. Company still offers for investor, measure wind, wind resource assessment, construction program and a series of services such as the wind group transportation of electrical machine, installation, debug and the wind operation maintenance of electric field from the wind early stage of electric field.
( 3) product
Company adopts order type production and sales
( 4) the major
Company's major raw material is outside buy component and accessory, from transmission system, structural systematic, electrical system and support system 4 parts forms. Company has formed strategic cooperative partner via long operation with domestic and international major component supplier, the supply of component can get reliable guarantee.
( 5) profession competitive
1 , profession
End to the base of 2006 years, according to news from the wind of our country, the 2,596 MW Chinese outside manufacturer of installed capacity of wind power of generation set who amounts to realization amounts to installed capacity, take the 65.92% of the nation-wide machine capacity of general assembly for 1,711 MW, the domestic manufacturer of wind power of generation set amounts to installed capacity, take the 34.08% of nation-wide installed capacity for 885MW.
2, company is
Golden wind science and technology are the present domestic biggest generation set of wind power complete machine manufacturer, the company's product of wind power of generation set in 2006 whole world increases wind recently news pack machine market share is 2.8%, global ranking is 10th. Company in 2006 China increases wind recently news pack machine market share is 33.29%, domestic ranking is first, the market share of near 3 years always takes the aircrew domestic for same year the 80% of product above; Company is selected in 2006 the cloth of good fortune " Si 2007 Chinese potentiality 100s " pop chart, position row 7th had been commented for the one of Chinese company that has to develop potentiality; In the same year, the world association of wind energy( WWEA) grants the golden wind science and technology of China " the 2006 world honorary awards of wind energy " and its military steel Mr of chairman of the board, so as honor company when promotion Chinese wind news the outstanding contribution made in industrial development. Now, it is 10 that golden wind science and technology have gotten technical patent, report technical patent 13; Receive relevant national sectors to entrust company's management to draft to establish 2 national standards and a local standards, is upholding to draft and participate to establish 5 national standards. In 2004, the national department of science and technology approves with golden wind science and technology is rely on unit, have established the first national wind power of whole country to generate electricity the research center of engineering technology.
B and the preferential policy of
( 1) Xinjiang the Uigur general office of autonomous region of people's government" the reply about agreeing the Xinjiang golden wind Joint Stock Limited Company of science and technology to enjoy the relevant preferential policy of tax revenue"( new Zheng manage letter [ 2006 ] No.202) relevant stipulation: " agreement continuity gives the Xinjiang golden wind Joint Stock Limited Company of science and technology to exempt to solicit the taking care of the 2 years of enterprise income tax, do not solicit time limit beginning from April 1,2006 till March 31,2008. "
( 2) Xinjiang the Uigur general office of autonomous region of people's government" the reply about agreeing the Xinjiang golden wind Joint Stock Limited Company of science and technology to enjoy the relevant preferential policy of tax revenue"( new Zheng manage letter [ 2005 ] No.4) relevant stipulation: " agreement continuity gives the Xinjiang golden wind Joint Stock Limited Company of science and technology to exempt to solicit the taking care of the two years of enterprise income tax, do not solicit issue beginning from April 1,2004 till March 31,2006. "
( 3) Xinjiang Uigur people's government of autonomous region" the reply about agreeing to do not solicit the Xinjiang golden wind enterprise income tax of science and technology of Joint Stock Limited Company"( new Zheng manage letter [ 2004 ] No.22) relevant stipulation: " agreement local taxation bureau of autonomous region mitigates the preferential policy of enterprise income tax to the Xinjiang golden wind Joint Stock Limited Company of science and technology in the duration from April 1,2001 to April 30,2004. "
C and major
Project 2007.6.30 2006.12.31 2005.12.31 2004.12.31
Floating ratio( time) 1.45 2.05 2.45 1.80
Move ratio( time) 0.72 1.47 1.99 1.43 quickly
Asset liability rate( parent company) %71.88 49.70 41.76 55.23
Intangible assets take the proportion of net asset %2.38 2.02
Each net asset( Yuan) 1.40 6.00 3.60 1.82
Total( 10 thousand Yuan) 45,000 10,000 10,000 7,000 of capital
Should receive the( / year) 2.16 7.81 8.14 9.13 of funds on
The( / year) 0.59 5.37 4.80 3.85 of inventory turnover
Basically each profit( Yuan) 0.29 3.20 1.60 1.31
Dilute each profit( Yuan) 0.29 3.20 1.60 1.31
The net asset %( add right) 20.08 70.17 70.90 64.04 of earning
The net asset %( spread thin) 20.33 53.28 31.17 33.13 of earning
Breath tax depreciation stand sells former profit( 10 thousand
Interest guarantee multiple( time) 18.52 25.74 26.81 16.10
The cash( Yuan) 0.02 1.34 0.23 0.32 of rate of flow that
Each net cash( Yuan) 0.32 0.46 2.02-0.15 of rate of flow
D and risk
( Yi) technology
According to news from wind, equipment technical development has high input, high risk and the long characteristic of development cycle, technical content is higher, in recent years global wind news the aircrew that market arises large scale and product renovation quickly waits for tendency for domestic wind news equipment manufacturer has formed certain pressure. Multinational wind news manufacturer can quickly launch new product to assault Chinese wind news market, if company can not launch continuously in time the new product that accords with market demand , may lose competitive advantage in future new competitive general layout. Is wind news the representative of profession, golden wind science and technology can not get rid of the development of entire profession still "chains". In field, expert thinks that the bottleneck that the current new energy enterprise of our country develops lies in: The ability of research and development is weak , key technology falls behind , talent is deficient, cruelty cause "elimination series" with field competition to come in advance.
" company and Vestas, the foreign competitors such as Gamesa and GEWind compare in the aspect of asset scale, technical development ability and global market share , have certain inferior position. " a related personage of near golden wind science and technology says , the enterprise of our country is faced with the problem of " country produces to melt " from the fan technology of foreign transfer. Many key technologies still get system in foreign countries such as controller and bearing etc.. With international wind news tycoon compares , the core competitiveness of golden wind science and technology( major research and develop ability) is hard to be now mentioned in the same breath yet. Research and develop vigorously , act on one's own completely to melt , golden prevailing custom has very long road to go.
( 2) system integration
Company adopts with system integration as the operation of major feature pattern, the wind set component of electrical machine of matched stack is produced by the technical parameter and quality standard that external cooperative manufacturer offers according to company. According to news from present domestic wind, equipment manufacturing is still in growth for initial stage, the quality standard system of the component of wind power of generation set is tending to perfect, some key components the parts such as blade, electrical machine, the case of gear wheel and bearing technical threshold is relatively higher, domestic optional room is relatively less. Above-mentioned key component may form in certain period the situation that drops behind demand , so causes the influence for complete machine production.
( 3) customer, relatively
Company's major customer is the large scale group of electric power and its subordinate is engaged in wind specially news the enterprise of investment, customer concentrates relatively. If these investors of electric power produce , operation situation occurs unfavourable change or adjustment investment strategy, puting slow wind power to generate electricity the increase speed of investment sells the product that influences company and by business Ji; The most of supplemental components of company adopt outside Xie the way of producing , and now, it is more few that domestic has the supplier quantity of corresponding productivity, company's major component supplier concentrates relatively. Along with company produce can enlargement, existent component can not measure satisfaction in time enough the risk of company's buying demand.
( 4) component
Company has determined complete machine development at the beginning of setting up and the operation system integration pattern, company takes the responsibility for the complete machine development of the generation set of wind power to design , quality control, general assembly and sales, supplemental component adopts outside Xie way. But since the supplemental component kind of company's product has brought greater difficulty than the quality control work that supplier distribution gives company in nation-wide every place, also makes company be faced with certain quality control risk.
( 5) scale the management
In recent years company's business high speed growth, it is nationwide company quickly from regional company's expansion, and to internationalization company direction development. Company's asset scale, people scale and business scale enlarge quickly, for the management of company, have put forward higher requirement. As company's business scale is more and more big, has the management risk that growth brings with high speed.
( 6) technology
According to news from wind, profession belongs to technology-intensive burgeoning industry, the platform of research and development and the technical standard of the present lack unification of our country, in profession, have the technician quantity of experience that is few comparatively, for technical talent rely on degree is higher. The profession in recent years develops fast, equipment manufacture enterprise is faced with talent deficient situation generally, the technical talent that company trains and saves in long practice becomes the object of the field manufacturer fight of colleague members. Brain drain is company's potential risk. Along with our country wind news field fast development, wind news equipment manufacture enterprise is faced with talent deficient situation generally. Not only the project construction maturation of urgent need high-grade specialized personnel, hereafter project operation , equipment maintenance, the quantity that needs medium specialized personnel is more. Technical talent, after-sales service talent and operation talent, will become wind news the focal point of equipment manufacturing fight. Golden wind science and technology land place Xinjiang, in the aspect of attracting talent, need to pay out larger effort. However, the high base of golden wind science and technology is technical family background , and many major technicians are to be born in 1976 around , are more young, compare on talent reserve ample.
( 7) profit the
Now, domestic and international capital market goes up possess numerous expectation to enter Chinese wind news the investor of field, because of lack wind news project construction management investment experience, is hard to control the wind investment risk of electric field, this gives wind the development of electric field to sell to offer , is greater to develop space. The wind development of electric field that company develops in 2007 sale business when home market is a kind of new profit pattern, company will raise fund partially to pass to increase capital Beijing, moisten in day to extend this business further, at the same time, drive the development of complete machine manufacturing affir. The innovation of this kind of profit pattern whether when home market gets successful existence certain risk.
( 8) core the risk
The key management team of company is domestic earliest intervention the manufacture of wind power of generation set the professional team of field, each member has accumulated rich professional knowledge and experience in the process of common business founding , has formed overall efficiency and the cohesiveness than winner , has guaranteed the continued fast development of company. But more structural comparison scatters company's present stock right, after appearing on the market , can still dilute further , cause management team if occuring hostility purchase to arise major change , manage the production given company to bring certain risk.
( 9) profession
Besides, current wind news equipment manufacture profession competition aggravates , the leading location of golden wind science and technology certainly will get challenge. In a senior field, expert says: " according to an incomplete statistics, now whole country has had the organizations more than fifty already or will soon enter fan complete machine manufacture profession, in which, China is sharp( Dalian heavy work) have produced to sell the 1.5 set sign tile aircrews more than 300 , win the bid or sign supply agreement the covers more than 1000; The eastern factory of steam turbine has completed tens sets of 1.5 sign tile aircrew supplies , has signed hundred thousands kilowatts of aircrew sales contracts. "
" Zhejiang arrives , Ha( Er bank) news group and spaceflight An Xun can , Shanghai electric , Xiang news many domestic enterprises such as group honest tramp enters complete machine manufacturing, these enterprises though set foot in wind news the time of equipment manufacture does not grow , but them a lot of have is the mechanical equipment manufacture of our country related field lead person, strength and experience are rich. Is other, foreign wind news equipment field giant has made investment one after another in China as Spaniard Gamesa, German REpower and Nordex etc. to set up factory; Domestic Xiang news in stock, China instrument electric and silver star energy , material science and technology and a batch of stock companies such as the electrician of the Great Wall have accelerated for wind news industrial investment intensity. These form huge challenge for the situation of 'Yi Zhi Du Xiu' of golden wind science and technology. "
In only when little board, now has had domestic company's intervention wind news industrial chain. In which, Yue water power enters the wind investment operation link of electric field, eastern source electrical equipment also plan in 2012 around since build wind power to generate electricity site base; Beginning from fan component and complete machine link and eastern source electrical equipment, participation is complete machine to assemble , day horse stock intervention wind news bearing field, is used to form a complete set the 1.5 sign tile generation sets of wind power, eastern force transmission participation 1.5 MW generates electricity with windward force in the research and development of the case of gear wheel, material science and technology and day odd stock enter wind news blade even wind news tower can production field
Golden wind science and technology also recognize in recruiting share manual , ripen step by step along with domestic competitor as well as international competitor increases to enter the intensity of Chinese market , profession competition will be more and more intense , company's increase speed will be put slowly, profession profit level can also tend to equalization gradually.
E, condition
Company for wholly-owned subsidiary Beijing day moistens to increase 28,160 capital 10 thousand Yuan , moisten with Beijing in day to implement the development of wind electric field for main investment to sell project , moisten in day by Beijing to pass through investment project company's construction wind electric field , project construction adopts the golden wind generation set of wind power, till project after building completion, transfer project company's stock right to get investment profit.
Crow La-Te the wind project of electric field includes crow La-Te-Zhong flag picture ancient day shelf wind electric field and crow La-Te two rear that flag benevolent precious force shelf wind projects of electric field, from have to remit the organization of wind energy enforcement, total investment is 80,000 10 thousand Yuan. It will be 16,000 10 thousand Yuan surely to have to remit the registered capital of wind energy , company's wholly-owned subsidiary Beijing moistens 8,160 investment 10 thousand Yuan in day , takes 51% of stock rights.
( 2) , raise fund
According to news from the wind of national basis, development is planed , the wind of our country news the machine capacity of general assembly the 5000 thousand kilowatts that will be 2010 with the 760 thousand kilowatts of increase of 2004 years, 30 million kilowatts of 2020. This signifies to grow a period in the future very much, the demand of our country for the power generating equipment of wind power will maintain strong situation continuously. Raise on price and the shortage of petroleum chemical engineering energy, the continued increase of the pressure of environmental protection, wind power generates electricity the technical step by step mature reduction of cost, national industrial policy support energetically, will become to promote wind news the increased continued power of profession.
This raises fund investment project is used to enlarge company's productivity and development mainly new product, raise the enforcement of fund project research and development and the industrialization of promote company efficiently level, strengthen the core competitiveness of company.
6, the growth
1.1986 years, the Xinjiang Uigur hall of autonomous region of water conservancy sets up the Xinjiang company of wind energy, the Xinjiang research institute of wind energy and Xinjiang new wind department work trade limited responsibility company. In October 1989, the Xinjiang company of wind energy accepts the free equipment grant and supplement of 3000 thousand dollars that Danish government offers , have introduced the 13 Danish BONUS company's fans of 150 KW with the domestic supplemental RMB of 6700 thousand Yuan, it is a that adding again Danish WINCON company's 100 KW that tests and tests before to choose net type fan, having established the Asia at that time biggest large scale wind power generates electricity site - - reaches slope city wind news is a. According to news from unique wind, advantage and the first piece of industry gather crowd, make this wind electric field become domestic wind news the forward position of industrial development. Absorb - through introducing - digestion to create , the pace domestic of fan also starts since then.
On March 26,2.2001, Xinjiang new wind department work trade limited responsibility company sets up golden wind science and technology by overall change. After setting up , near, golden wind science and technology have undertaken the national science and technology of " 95 " to tackle key problems and the project of autonomous region of the Key Technologies R%26D Program" the 600 thousand watts of aircrew domestic" the task of R%26D. From this, the wind group domestic of electrical machine of the golden wind manufacture of science and technology has filled domestic blank. In "15" duration, company undertakes again " national 863 " to plan the project " sign tile level wind electrical machine organizes and its crucial component is developed " and " national 15 " focal point the Key Technologies R%26D Program - -" the 600 thousand watts of wind group industrialization production of electrical machine" and" the 750 thousand watts of wind group R%26D of electrical machine" project. Technology is in the lead make golden wind science and technology quick grow up Chinese wind news the equipment key enterprise that makes profession. Up to the share of September 2007, company has amounted to to produce the 1402 groups of 750 KW of wind energy conversion system , the aircrew( 2008 will enter a large quantity of stage of production) 39 of 1.5 MW.
3. Another group figure is sufficient to explain that golden wind science and technology are in domestic profession tap position: Up to the base of 2006 years, company amounts to the fan of production to take arrive capital manufacturer total production the 83.36% of fan, the 25.68% that takes the machine capacity of general assembly is ranked first , and is in the fan installed capacity that whole world increases in 2006 recently , golden wind science and technology produce fan to take to 2.8% , rank 10th.
4. Comparing with domestic with field up to the golden wind science and technology and base of 2006 years take the nation-wide machine proportion over the years of general assembly, is 25.68%, and it is sharp to follow its rear China tightly, it takes proportion, is 2.89% only. Since market position is higher, company's and related component production enterprise has established close strategic cooperation relation , and has the ability of negotiated price than winner for the buying of related component, scale buying has reduced unit cost greatly.
5. Now, when golden wind science and technology is periphery, according to news from a wind, the embryonic form of industrial colony has shown , revolves around golden wind science and technology, a industrial chain already when is local to become type. Reign in the LM blade company of Denmark and the golden wind industrial park of Urumuqi Economic and Technological Development Area , Xi Xiang wind news equipment technical company , Xin wind equipment installation company , remit ventilation can the enterprises such as equipment company have developed into garden. In which, LM company is the fan blade manufacturer with leading world, 1 / 3 in fan blade that is operating produces whole world more by it. The LM cooperation of company's and golden wind science and technology includes development mainly and production 70 golden wind models and the 77 model turbine machines of 1500 KW blade, annual productivity is 150 sets. In October 2007, Danish LM company takes off line smoothly for the first fan blade of the golden wind production of science and technology in Urumuqi.
6. Past 10 years, the development speed of golden wind science and technology makes person Cheng eye: Build up with 3000 thousand Yuan, registered capital increases now to 450 million Yuan; Near 6 years, the annual increase range of sales revenue exceeds 100%; Net profit has increased from the 10 thousand Yuans more than 4200 of 2004 years, until 2006 to 320 million Yuan.
7. See the golden wind soft breeze of science and technology as a whole news industrial development history, it increases fast to cannot depart from the pull of " policy express ". Is same, the development of golden wind science and technology, is also just Chinese wind news the epitome of industrial development. Hong Yuan bond Xinjiang sale general manager of home office assistant Wang Bao Hua thinks , investor is for the attention of golden wind science and technology , actually is for our country wind news field prospect is filled with expectation.
For 8.2005 years, national renewable energy law promulgation is implemented , especially June 2007 the long-term development program in renewable energy that passes requirement, until 2010 and 2020, rights and interests generate electricity to pack machine total capacity , exceed the investor of 5000 thousand kilowatts, the non renewable energy of water power possessed generates electricity rights and interests pack machine total capacity should take it respectively to pack 8% and the 3% of machine total capacity more. Because of wind news is to be now not the technology in the renewable energy of water power to compare maturation , can realize scale to pack machine generate electricity type, having become investor input the key field of construction.
Along with " the renewable energy law of our country " and its supplemental method is implementing with the promulgation of beginning of 2006 in February 2005 , the support of government for renewable energy is increased step by step, and according to news from wind, the technology in present new energy develops relatively mature industry, the proportion that takes in energy structure will be also more and more high. So far, government has carried out the public bidding of 5 issue of special permission of right of administration totally, project totals 3400MW, have promoted wind maximumly news development. The price management and cost that generates electricity along with wind power are shared as well as the problems such as net get solution, different aspects investment wind news initiative run high unprecedented. The accommodation of policy, for wind news development have left maximum imagination space.
9. A expert of wind energy of Xinjiang thinks , the present momentum of development of basis, according to news from the nation-wide wind in the future of some years, installed capacity will increase into time. According to the report, 2006, whole country increases wind recently news pack 1310 thousand kilowatts of machine, have exceeded to pass over the years amount to to pack machine sum. " the national stroke nation-wide wind of front guide of 2020 years news installed capacity reaches 30 million kilowatts, now in field for industrial prospect, very optimistic, this figure will be surely far surpassed. " the name of this expert.
10. At the same time, for support the wind of our country news industrial development, in July 2005, National Development and Reform Commission stipulates in " about wind news build the notice of the relevant requirement of management ", " wind news the equipment rate domestic will reach 70% more, not satisfy the equipment rate domestic the wind electric field of requirement does not allow to build ". The requirement of the rate of 70% domestic , will make capital enterprise production fan when fan packs the proportion of machine promotes step by step. Have occupied for now the golden wind science and technology of the capital fan market share of 80%, it will let it maintain a pretty long time if market sends advantage first.
11. Encourage policy as country directly receive , golden wind science and technology confirm in recruiting share manual , form the major source of the income of main business in company's report issue in recent years in the domestic 600KW of production and sales and the fan generation set of 700 KW of wind power; " is beginning from 2006 , National Development and Reform Commission adoption will invest in enterprise and wind news equipment manufacture the way that enterprise binds public bidding , company has gotten the order of greater quantity through participating in public bidding. " according to the report, company's present order is sufficient, have signed sign tile level aircrew near 600, have won the bid the contract that been discussing near 500.
8, company's far
1. The golden wind military steel of science and technology of chairman of the board is expressed to media, the important development of company of next 10 years goal is to realize internationalization, include market internationalization, brand internationalization, talent internationalization, management internationalization and financing internationalization. He emphasizes that golden wind science and technology will strengthen after appearing on the market to perfect built-in control and legal person to administer , is determined in integration whole world to research and develop , makes and serves resource, when global wind news equipment market wound makes " Chinese manufacture" brand with reputation, become the equipment manufacture of wind power of generation set of research and development with first class world to serve business.
2. Is in the lead except technology , market first the advantages such as hair outside, the way of managing of diversification is also the one of reason that golden wind science and technology get market high praise. Golden wind science and technology are now sold with the generation set of wind power mainly, the future company will with wind news profession systematic solving schema and peculiar wind news key technology worths for customer continued creation, promotion wind news service professional development. On the one hand as the supplementary unit of the company's group manufacture and sales of wind energy conversion system, raise company's product competitive advantage; On the other hand when wind news the background that service market capacity drama increases takes off , extend wind news service content, promote service quality, will wind news service gradual development becomes the increase business of company.
According to news from company's wind, service is the research and development of rich use and manufacture background and when the experience in the aspect of the wind operation and maintenance of electric field advantage, engage in basic service industry the innovation affir of service industry with high added value, extend wind news the affir content of service industry, it is former that offering sell for customer , sell , the overall solving schema sold rear unification, while supporting the company's manufacture and sale business of wind power of generation set, form company's new profit growth point.
At the same time, the development of company for wind electric field - sales new pattern also gets market identification. The equipment of drive of this pattern sales, also embody the added value of each link in project project in the sales of project , may still get higher risk premium and time value, promotion profit level and competitiveness.
According to news from wind, equipment manufacture technical professional degree is very high, a lot of financial investors and the investment operators of electric power do not be willing to undertake the risk of early stage, the operation of golden wind science and technology pattern may be very good to solve this problem.
3. For future plan, golden wind science and technology have made the plan that walks out of. Enlarging the possession rate of home market at the same time drive forward internationalization process step by step , reach in 2010 the certain proportion that the sales revenue of wind power of generation set takes all sales revenues of wind power of generation set abroad. Company will adopt purchase or other ways at the right moment to enter international market , is now seeking goal company.
Synthesize above-mentioned analysis, golden wind science and technology are a tap company of the high speed development that is in the profession of the morning sun of wind energy , have investment value very much, radical investor may the few interventions of present price, it is been machine big act high that though, share price appears on the market to position , but recent share price in market volatility tendency independence, after observing a time continuously, may select to enter.
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