Chinese UniCom: Double promotion of profit estimate value will be carried brace up share price
May 31, 2008
As field of A stock market is at present medium only telegraphic operation business, chinese UniCom (600050.SH) is thought generally will be the biggest person be benefited that this telegraphic industry recombines. Most analyst thinks, the Chinese UniCom A after recombining appraise value will win remarkable promotion. Country golden negotiable securities gives out its sound value interval was 2008 13.65 reach 15.6 yuan, restful negotiable securities gives out 11.9 yuan, stopped the price before the card on May 23 relative to its, still have bigger rise space.
The country believes industry of negotiable securities communication chief analyst Yan Ping suggests, a investor can continue to configure Chinese UniCom, one of reason are ” appear when the absolute level of management level and relative standard when ascendant trend, gain and the double heavy promotion that appraise is worth will bring ascendant space for share price ” . He thinks, uniCom and difference of mobile tremendous market prise will stay for UniCom future tremendous up space.
In order to stop the share price before the card 9.74 yuan plan, uniCom A total market prise is 206.5 billion yuan about, and Chinese mobile harbor newest market prise is 2.3 trillion yuan about (with closing quotation price wrote down) on May 30, both differs 11 times. And 2.4 times what China’s mobile and current user number is UniCom only, income also is 3.6 times of UniCom only.
Yan Ping thinks, industry of domestic communication operation is a very special industry, strategic intent of the country and development orientaton will are opposite the development trend of the industry, enterprise goes to quite main effect since the development of relative position, this the industry recombines give aid to the business of weak force operation, intention that goes after situation of relatively balanced trade is apparent, accordingly, at present business will be in the operation of relatively weak force to recombine and deal be benefited relatively in the management process after reaching, gradually hasten is strong.
To UniCom A appraise value, analyst of restful negotiable securities thinks, uniCom sells 1.4 yuan or so CDMA user asset will be appreciation of company share price with 50 times PE; The hopeful after the company sells CDMA promotes GSM network operation efficiency, crude guess outstanding achievement can promote 20% the left and right sides; In addition, if couplet is aglow prepare (static city was filled with 2007 lead for 24 times) as aglow as the net chip (static city was filled with 2007 rate for 16 times) incorporate with current share price, add thick every accrual about 25% . Calculate from this recombine to carry display vigour to use directly to what UniCom appraise is worth achieve 60% the left and right sides, its are reasonable appraisal is 11.9 yuan.
Nevertheless, also the orgnaization reminds, uniCom A investment value depends on greatly the amalgamative effect that UniCom and net know and place need time. Industry analyst expresses telecommunication of wide hair negotiable securities, amalgamative integral cost predicts will taller, the competition ability that two companies are running a side at present is weaker, brand competition ability is relative also weaker, consequently no matter new UniCom is be being returned from asset dimensions is from gain competitive inferior position is in for the state, at present UniCom A mirrorred adequately already anticipate.
Shen Yinmo country also expresses, the investment value of Chinese UniCom depends on an industry recombining good luck in to its the value of two pieces of mobile networks weighs appraise, to recombining later its and Chinese net connect the price judgement hang on of Chinese UniCom after incorporating the play of synergism. But be opposite at present the influence of this one synergism cannot specific calculate.
Although be put in certain difference, but the market still values those who recombine a company to bring to trade sexual value, the orgnaization investor such as fund is since May buy UniCom A in a large-scale continuously. Great wisdom wins statistic of rich TopView data to show, on May 5, mixed on May 13 on May 22, the orgnaization buys a quantity to be respectively completely 280 million, 390 million mix 290 million yuan, trade in half of May 23 in day, the orgnaization buys a quantity to amount to 640 million yuan completely, about 66 million. Up to stop a card, orgnaization capital flows into a quantity 20 days to amount to 2.63 billion yuan completely, the scale that maintain a warehouse rises to 28.78% . (Tian Ning)
Tags: Chinese, double, estimate, profit, promotion, UniCom, valueAdvertisement
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