Your present location:HomeEntreprise newscompany news > CNR: Locomotive orders in line with the expected road market continued to develop

NEWS

CNR: Locomotive orders in line with the expected road market continued to develop

Number of visits: Date:2016-11-14

The contract price was RMB 14 billion, and the total contract value was RMB 9 billion. 2) The contracted value of the power transmission locomotives was RMB 14,600,000, Yongji Electric then received orders for Sinovel to provide 1.155 billion yuan of 1.5MW fan motor to Sinovel, 2011 delivery; and 3) Changchun Bus Factory received Chongqing subway orders of 625 million yuan.

Comments

Locomotive orders within the expected: First, the scale of the order in line with expectations, some time ago we have been expected to Ministry of Railways will be issued this year, 1200 7200KW high-power AC drive locomotive, 610 vehicles now see the North issued the car, the 590 will ; Secondly, from the market share, the North-South car basically equal shares of the 1200 locomotive orders, is also expected; last, tax 14.6 million locomotives, flat with last year also in line with expectations.

Ministry of Railways in the next 2 years on high-power AC drive locomotive demand is still strong: the Ministry of Railways in 2012 on-line running 7200 high-power AC drive locomotives, as of the end of 2009 issued orders 3940, on-line operation 1792, Of the 1200, the Ministry of Railways in 2012 need to be issued 2060 high-power AC drive locomotive orders.

The future 9600KW locomotive tender will become the main: the current issued 5140 locomotive orders, a total of 600 diesel locomotives, 9600KW a total of 1900, 7200KW a total of 2640 vehicles. At present, China's railway network has not yet completed the separation of passenger and freight, the locomotive running on the line to 7200KW-based, future passenger and cargo separation, heavy transport gradually unfolded, 9600KW locomotives will become mainstream. The last round of the Ministry of Railways 9600KW locomotive tender unit price of 22.5 million yuan / Taiwan (tax included) about 7200KW locomotive unit price is only 14.6 million yuan / Taiwan (including tax).

Yongji order to highlight the strength of the road outside the company's market development: the company signed with the Huarui electrical supply contract in accordance with 50 million / Taiwan, the number of roughly 200 units, Sinovel an annual output of 2,500 units, accounting for China Sharp 8% of annual production, showing the company in the field of wind power motor strength.

Investment Advice

We maintain our EPS forecast of $ 0.242 / $ 0.362 in 10/11 and maintain "Buy" rating.

TypeInfo: company news

Keywords for the information: