Short-term be controlled cost rises long-term prospect still is valued

Metaphase realized the company 2008 business income 28. 9.8 billion yuan, grow 27 compared to the same period. 49 ％ ; Implementation net profit four hundred and forty million three hundred and ten thousand yuan, grow 5 compared to the same period. 66% ; Realize every profit 0. 22 yuan, ROE12. 69% .
Automobile glass realizes income 20. 2.5 billion yuan, grow 22 compared to the same period. 36% ; Float law glass realizes income 12. 3.4 billion yuan, grow 38 compared to the same period. 20% .
Comment on:
Company outstanding achievement anticipates under ours. Outstanding achievement of 8 years of medium-term of company anticipates under ours apparently, as a result of,basically be (1) the car is truckload the sale is added fast put delay, if domestic car output grows 16 compared to the same period first half of the year this year. 71% , add fast drop compared to the same period 5. 65 percent; (2)
Below the setting that rises considerably as a result of the raw material price such as heavy oil, soda ash, the gain ability of company product is squashed apparently.
Income of domestic automobile glass has grown at the industry average level. Although car sale is added fast put delay somewhat, but because the company is main performance of sale of the firm that offer money is relative better, this makes domestic OEM adds the company first half of the year fast still achieve 19. 61% , as a result of car of cropland of abundant of second half of the year the order of 50% (predict to be 300 thousand / or so years) begin to carry out gradually, domestic OEM income still hopeful maintains 20% or so growth; In addition, the company increases the development strength of domestic AGR market, ADR of domestic automobile glass is added first half of the year fast achieve 28. 12% . Income of glass of automobile of country of our estimation company grows 23% to control compared to the same period, although everybody anticipates 8 years the car sells growth,be in 15% the left and right sides, but the OEM of integrated company and AGR business, we think income of domestic automobile glass grows 8 years still hopeful is maintained first half of the year level.
Export income is added fast put delay apparently, growth of exit OEM income still maintains reverse a growth. Global economy environment produces certain effect to company exit, the company exports income to grow compared to the same period first half of the year for 15. 0% , drop compared to the same period 22. 6 percent. The company presses exit of foreign currency plan to grow 24 compared to the same period first half of the year. 3% (growth of element of consideration exchange rate is 21. 9% ) , export income is added fast under automobile glass export income is added fast, because business of float law glass was contained in export income last year,basically be, and income of glass of law of the float in exporting income this year is very few. From the point of automobile glass exit, because export AGR to add fast opposite slower (income of area of referenced North America, income of AGR of mouth of appraise cipher out is added fast in 11% the left and right sides) , business of OEM of exit of support of more of income of automobile glass export is pulled move, understand according to us, exit OEM income still retains the firm first half of the year reverse a growth. Come to annual character, we think automobile glass exports income still tenability first half of the year increase fast level.
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