PCB industry investment rating remains "neutral"
2011 Tablet PC will become the leading consumer electronics market, with shipments expected to grow significantly to about 5,000 million units. Tablet PC's hot will make the enterprise master the key components include: flash memory, touch screen, PCB manufacturing, metal shell, camera, batteries and other companies to become big winners. This trend will gradually affect the PCB industry structure, soft board, HDI board will be the two fastest growing areas.
PCB,circuit board general would be more in the 4-quarter revenue slipped 3 from the previous quarter, Q4 revenue is expected to decline slightly. Emerging markets benefited from the growth in demand for electronic products, the Lunar New Year will bring some effects of the complement of inventory, we expect Q1 2011 revenue decline of traditional off-season is limited, there may not short off-season. We maintain the PCB manufacturing industry "neutral" investment rating, to maintain health benefits technology, ultrasonic electronics, Founder Technology "recommended" rating, to maintain the Shanghai Electric shares "neutral" rating.
Debon Securities: Asset prices under the revaluation
On the valuation and analysis of non-ferrous metals industry, there are many, including the PE relative valuation, the valuation of resources and so the absolute value of the discount. From the current situation of domestic non-ferrous industry, metallurgical aspects of the performance of listed companies and industries contribute little, and the current A-share market, or for non-ferrous industry, to determine the absolute value of resources based on valuation. pcba manufacturer &supplier Based on this understanding, we attempt to analyze the A share index of non-ferrous sector related industries, the CSI 300 Index and the international metal prices and metal prices between domestic and explore its resources between the A share price increases the value of related industries Revaluation of the phenomenon. We believe that there are no systemic risks in the broader market and metal prices do not make drastic adjustments in the circumstances, the current A-share market valuation of non-ferrous metal plate reasonable.
Combination of weather and demand for the recovery of previous judgments, we believe that the aluminum industry and the existence of lead and zinc industry, part of the stock to further increase the demand for revaluation of their value. pcba manufacturer &supplier We are optimistic about the aluminum industry in which vertically integrated Yunlvgufen, lead and zinc industry, we are optimistic about the expected strong asset injection, and Western Mining was the HTC undervalued shares.