Ocean Motor: to create a complete "green" industrial chain by relying on additional projects

Ocean Motor: to create a complete "green" industrial chain by relying on additional projects




1. Ocean Motor Company is a focus on automotive, home electrical and drive system manufacturer, the product widely used in automobiles, household appliances, medical equipment and other areas, customers all over the world, is the world's motor industry an important force . Company plans to rely on additional items, to create a complete new energy automotive electrical industry chain and comply with energy saving developments.

2. New Energy Power and Control System project to expand industrial product structure, to promote the company's main business rapidly. Power and control system, new energy industry is the company and the Beijing Institute of Technology in early 2009, a comprehensive cooperation agreement reached long-term focus of the project since the start of the project product high power permanent magnet synchronous motor drive system is a typical mechatronic product, high power density and high efficiency characteristics, mainly used in urban buses, cars and all kinds of passenger side. The construction period is 3 years, the project is expected to begin production in June 2012, put into production the company will have annual output of 30,000 sets of production capacity, further expanding our product mix. Products of the project to follow the auto industry needs new energy derived from energy conservation, environmental protection and efficient green industry, the implementation of new energy vehicles in the national context of the strategy, project product prospects. Will help with the Foton Motor Company Strategic Partnership, the product initially for the Foton and medium-sized passenger car production, MPV, such as in heavy truck and light truck full range of commercial vehicles, the future will be supporting the vehicle manufacturers production, to achieve large-scale industrialization of electric vehicles applications.

3. New energy power and control system development and pilot base construction project will enhance the company's innovation capability, strengthen its industry leading position. The project will establish ROHS testing room, static testing room, PCB rooms and EMC testing laboratory, and other products and functional laboratory testing, the project construction period is 2 years, completion of the project will help the company to accelerate R & D and pilot production of new energy Power and control system of new products, achieve product upgrading technology, improving the company innovation; developed products will be through the new energy industry, power and control systems for industrial projects, help consolidate the company's industry leading position.

4. Drive start motor (BSG) and control system construction projects meet energy-saving emission reduction policies, prospects are bright. Drive start motor (BSG) hybrid technology through the idling stop and start function, to achieve car at red lights and traffic jams for engine to stop working to eliminate the idle running state fuel consumption and exhaust emissions, if the current generation product to install in the car machine will be saving 3 to 5%, in line with national energy conservation policy. Closing the end of 2009, the domestic auto market to maintain inventory of more than 60 million, if all cars are using BSG system, annual savings of 5.65 billion liters, to reduce carbon dioxide emissions 015 million tons, the country is important to implement energy saving policies significance. Start now drive motor (BSG) has been planned as a hybrid technology for all models of Chery Automobile standard technology, the future system is expected to become the standard car, a good prospect.

5. High-power IGBT and IPM module package construction project to extend the company's upstream industry chain, reduce product cost. IGBT modules are mainly used in the power inverter main circuit inverter and inverter circuit, IPM intelligent power module is widely used in motor control, industrial automation, electrical fields, electrical products, the company one of the main components, through high-power IGBT and IPM module package, and could be appropriately extended to the company's electrical products upstream to realize the intelligent electrical products available upgrade and improve value-added products and further reduce costs. The product mainly for the company proposed to develop new energy efficient smart car motors and motor, brushless DC motor and other household electrical supporting the use implementation of the project will solve the new energy automotive industry, production of motor system deep-level technical and cost bottlenecks the same time, according to customer requirements to meet customer specific needs. The construction period is 3 years, reaching production of 4 years, put into operation the new large, medium-power module and appliance module with a power capacity of 9 million, respectively, 6 million and 350 million.

5. Profit forecasts and investment ratings: not considered dilutive, we expect the company's earnings per share in 2010 -2,011 0.86 yuan, 0.99 yuan, according to yesterday's closing price of 42.93 yuan terms, respectively, corresponding to dynamic price-earnings ratio of 50 times, 43 times ; according to the maximum extent diluted basis, earnings per share in 2010 -2,011 were 0.73 yuan, 0.84 yuan, respectively, corresponding to the price-earnings ratio of 59 times, 51 times the current share price already reflects the company's issuance of the basic expectations, maintaining the "neutral" investment rating. The future of the country vigorously promote new energy vehicle development strategies and energy saving policies, the company may issue additional items to the company's expected performance space with a blazing performance, Women Jiang additional item Jincheng based company, the company earnings adjusted accordingly Yuce He Touzipingji.

6. Risk Tips: 1) Company export business accounted for more than 60% of operating income, there is risk of loss in exports and foreign exchange led to an economic downturn the risk of a slowdown in revenue growth; 2) the company issuing the motion failed to pass the approval of the risk; 3) The additional risk of dilution on the performance of the company.

Shenzhen Maorun Electric Co. LTD. is a manufacturer and designer of DC to AC power inverters. Maorun Electric features power supply products with compact size, light weight and high efficiency.

Maorun Electric dedicates to provide our customers with high quality power supply products. We export both BESTEK-branded and OEM products. Contact sale38@bestekltd.com now for more product information!