Zhejiang Shengsheng Baik's revenue last year was 1.762 billion yuan Tryptophan profit is better

Shenghua Baik (600226) released its 2010 annual report on the evening of April 11, 2011: The Company's 2010 revenue was RMB1,762 million, an increase of 16.18% YoY, attributable to the parent company's net income of RMB137 million, a decrease of 3.51% YoY, and earnings per share of RMB0.34The distribution plan is 1.5 yuan (including tax) for 10 sharesreviews
In the fourth quarter, the company's revenue was RMB482 million (up 8.25% YoY, up 26.64% YoY), attributable to the parent company's net profit of RMB39.53 million (up -19.35% YoY, up 18.17% YoY), or EPS0.10Earnings per share in 2010 were slightly lower than our previous estimate of RMB0.37, mainly due to the company's accrued loss of RMB18.98 million in asset impairment, of which the loss of inventory price was RMB16.16 millionThe loss of impairment of assets in the third quarter was RMB6.47 million, and the company paid RMB12.51 million in the fourth quarter, mainly for pesticide varieties such as glyphosateproducts, in 2010 pesticide demand is depressed, high cost of pesticides led to a decline in operating margin of 3.43% to 8.84%, of which Zhejiang Baikecape chemical glyphosate business loss of 14.34 million yuan, the current 2011 pesticide industry profits will be slightly better than 2010, the company's preparation volume will also help to restore profitability;Veterinary drug due to better profit, revenue increased by 25.28 percent, operating margin increased 2.39 percent to 25.14 percent, is expected to be with the release of nemona tryptophan production capacity, veterinary drug revenue and overall profit have a significant increase in space;company from the 38% of Qingdao Yibang investment income of 65.74 million yuan, with our forecast of 65 million yuan, confirmed in the fourth quarter 34.59 millionQingdao Yibang's 2010 revenue was 427 million (down 12.4%), and net profit was 175 million (down 9%), mainly due to lower prices for tenders in the old productsRevenue and net profit are expected to return to rapid growth in 2011 as new production capacity is launched and product upgrades expand, from inactivated vaccines to active vaccines, from single avian influenza vaccines to multi-species vaccinesAccording to the historical law, its first-half net profit accounted for about 15% of the year, the second half of the year, especially in the fourth quarter is the peak of confirmationcompany plans to have revenue of 1.95 billion yuan (up 10 percent) in 2011, with a total cost of $1.88 billion, a more conservative measure from current earnings and future trendsThe company has made it clear that it will strengthen its capital operations in the pesticide and tantalum business areas in 2011we maintain edge on the 2011 company's EPS 0.72 earnings forecast and introduce a 2012 forecast of EPS 0.80, holding a "buy" ratingSebasco Baik (600226) released its 2010 annual report on the evening of April 11, 2011: The Company's 2010 revenue was RMB1,762 million, an increase of 16.18% YoY, and the net profit attributable to the parent company was RMB137 million, a decrease of 3.51% YoY, or RMB0.34, per shareThe distribution plan is 1.5 yuan (including tax) for 10 sharesreviews
In the fourth quarter, the company's revenue was RMB482 million (up 8.25% YoY, up 26.64% YoY), attributable to the parent company's net profit of RMB39.53 million (up -19.35% YoY, up 18.17% YoY), or EPS0.10Earnings per share in 2010 were slightly lower than our previous estimate of RMB0.37, mainly due to the company's accrued loss of RMB18.98 million in asset impairment, of which the loss of inventory price was RMB16.16 millionThe loss of impairment of assets in the third quarter was RMB6.47 million, and the company paid RMB12.51 million in the fourth quarter, mainly for pesticide varieties such as glyphosateproducts, in 2010 pesticide demand is depressed, high cost of pesticides led to a decline in operating margin of 3.43% to 8.84%, of which Zhejiang Baikecape chemical glyphosate business loss of 14.34 million yuan, the current 2011 pesticide industry profits will be slightly better than 2010, the company's preparation volume will also help to restore profitability;Veterinary drug due to better profit, revenue increased by 25.28 percent, operating margin increased 2.39 percent to 25.14 percent, is expected to be with the release of nemona tryptophan production capacity, veterinary drug revenue and overall profit have a significant increase in space;company from the 38% of Qingdao Yibang investment income of 65.74 million yuan, with our forecast of 65 million yuan, confirmed in the fourth quarter 34.59 millionQingdao Yibang's 2010 revenue was 427 million (down 12.4%), and net profit was 175 million (down 9%), mainly due to lower prices for tenders in the old productsRevenue and net profit are expected to return to rapid growth in 2011 as new production capacity is launched and product upgrades expand, from inactivated vaccines to active vaccines, from single avian influenza vaccines to multi-species vaccinesAccording to the historical law, its first-half net profit accounted for about 15% of the year, the second half of the year, especially in the fourth quarter is the peak of confirmationcompany plans to have revenue of 1.95 billion yuan (up 10 percent) in 2011, with a total cost of $1.88 billion, a more conservative measure from current earnings and future trendsThe company has made it clear that it will strengthen its capital operations in the pesticide and tantalum business areas in 2011 we maintain edge on the 2011 company's EPS 0.72 earnings forecast and introduce a 2012 forecast of EPS 0.80, holding a "buy" rating (name)