The Prospect Of Double Elephant Synthetic Leather Market Is Bright.

August 3rd, the main business of Bi Xiang shares is

At present, the company has the production capacity of bundle like microfiber 3 million square meters, PU synthetic leather 14 million square meters, and high performance PVC artificial leather 25 million square meters.

The fund-raising will be invested in the annual production of 6 million square meters LDPE/PU super fine polyurethane short fiber super leather project, which is a technology industrialization project undertaken by the company to carry out the "863 plan - the key technology research of superfine fiber super leather", which is the only national "863 project" project in synthetic leather industry.

The project fills the gap of our original technology in the field of leather simulation. The product is positioned to replace the imported high-end microfiber products and has broad market prospects.

In the smooth progress of the investment and investment projects, our Forecast Ltd 10~12 earnings per share were 0.66 yuan, 1.34 yuan and 1.62 yuan, and the composite growth in the past three years was 55%. At present, the company's stock price corresponds to 10 years' earnings ratio 41 times, 11 times 20 times price earnings ratio.

At present, wo Xin shares of similar listed companies (002343) have 28 times earnings in 10 years and 23 times in 11 years.

The company's investment and investment projects are in the leading position in the domestic counterparts. The premium should be given to the company beyond the industry level, giving the company 10 times 50 times price earnings ratio, 11 years 28 times earnings ratio, which can reflect the actual value, and the reasonable value interval is 33 yuan ~37.52 yuan.