Foton Motor: Leading the Road to Industrialization of China's New Energy Vehicles
In 2009, Foton Motor was once sought after by the market as a leader in the concept of new energy vehicles. After revisiting the company's new energy business a year later, we discovered that the company is undergoing qualitative changes:
1) When 90% of new energy automotive companies are still in the conceptual stage, Foton has already taken the lead in profit. We expect 2010 new energy bus will bring more than 150 million yuan in profit contribution to the company, with an increase rate of 200%; 2 ) The order source of Foton's new energy vehicles in 2010 has spread from Beijing to the entire country and overseas. We expect the company will occupy 30% of the market share of new energy buses in China; 3) Unlike the 2009 full purchase of Eaton’s complete powertrain system in the United States, The localization rate of the powertrain of Futian New Energy Bus in 2010 has significantly increased, which means that the company's competitiveness in this area has gradually surfaced, and the synergy effect of the Beijing New Energy Vehicle Industry Alliance has begun to show.
There is no doubt that the new energy business of Foton Motors is far ahead of its competitors, and this is not fully reflected in the company's stock price. This is where the company's opportunities lie. The process of company-wide growth has only just begun. It is worth looking forward to: In the field of traditional commercial vehicles, the growth mode of the company has changed from an extension of the past to the pursuit of profitable quality. Cummins, Daimler and other cooperative projects are also expected to gradually contribute profits in the next two years.
The introduction of affordable housing policies has provided a rebound opportunity for the company's share price: We expect that this policy will bring an annual increase of 2.5 million new start-ups, driving demand for heavy trucks by 2%-3%, fully compensating for the negative impact and pessimistic expectations of real estate regulation. Bring back opportunities for heavy truck stocks such as Foton; investment advice. We believe that the market does not fully recognize the value of Foton's new energy auto industry and exaggerated the negative impact of macroeconomic risks on the company's performance over the next 1-2 years; Foton Motors It is still one of the most anticipated commercial vehicle companies in China in the next three years. We recommend that investors pay attention to it. Valuation. We forecast the company's 10-12 EPS to be 1.824, 2.286, and 2.814, respectively; Value should be fully taken into account the value of its new energy vehicles, respectively, given Futian Europe V passenger cars, light trucks, and heavy trucks 40X, 16X and 12X of the 2010 PE, giving the company a target price of 30 yuan, it is recommended to "buy"; risk. The risks that the company faces are still mainly from the systemic risks of the macro-economy and the auto market, but we believe that the company's future connotative growth will help Enhance the ability to cope with risks;
1. Naipu L series lower abrasive slurry pump description
L series Rugged heavy duty slurry pump for medium to lower heads.It incorporates the same design points of the NP-AH(R) and plus higher efficiency impellers at an attractive initial cost.Designed for rugged duties while offering higher efficiencies, the NP-L series is a combination of the proven NP-AH(R) unique features.The pump is available with interchangeable liner options including both metal and various grades of elastomer depending on the application.
Typical Applications---
Chemical Process
Heavy Minerals
Plant Water Supply
Thickener Overflow
Paper and Pulp
Slag Granulation
2.L series lower abrasive slurry pump construction drawing
3. L Lower Abrasive Slurry Pump select chart
4. L Lower abrasive slurry pump performance parameters
Type
Allowable Mating Max. Power(Kw)
Clear Water Performance
Impeller
Capacity/Q m³/hr
Head/m
Speed/rpm
Max Efficiency/%
NPSH/m
Nos of Vane
Impeller Diameter/mm
20A--NP-L
7.5
2.34-10.8
6--37
1400--3000
30
4
152.4
50B-NP-L
15
16.2--76
9--44
1400--2800
55
3.5--8
5
190
75C-NP-L
30
18-151
4--45
900--2400
57
3--6
4
229
100D-NP-L
60
50-252
7-46
800--1800
60
2--3.5
4
305
150E-NP-L
120
115--486
12-51.5
800--1500
65
2--6
4
381
200E-NP-L
120
234--910
9.5--40
600--1100
64
3-6
4
457
250F-NP-L
120
396--1425
8--30
500--800
77
2--10
5
550
300S-NP-L
560
468--2538
8--60
400--950
79
2-10
5
653
350S-NP-L
560
650--2800
10--59
400--840
81
3--10
5
736
400ST-NP-L
560
720--3312
7--51
300--700
80
2--10
5
825
450ST-NP-L
560
1008--4356
9--48
300--600
80
2--9
5
933
550TU-NP-L
1200
1980-7920
10-50
250-475
86
4-10
5
1213
L Lower Abrasive Slurry Pump
Lower Duty Slurry Pump,AH Mining Pump,L Lower Abrasive Slurry Pump
Shijiazhuang Naipu Pump Co., Ltd. , https://www.naipu-pump.com