According To The Analysis Of Bailong'S Capacity In The First Quarter, It Is Possible That It Will Become A Bull Stock.

Baron East is likely to become a bull stock.

Recently, a comprehensive study of the stock of Baron East has been conducted, and the result is that the stock is likely to become a bull stock.

1, the current market environment is not good, the next few years in China's stock market is difficult to appear a big bull market, the market index was kidnapped by large cap stocks, the majority of the companies with large index weight belong to the traditional industries. Under the background of market capital and China's economic downturn, it is difficult to pry up large share stocks, and some structural bull markets.

Most of them will appear in small cap, undervalued and growth determined listed companies.

Baron East currently only 150 million shares of circulation, circulation market value of less than 1 billion 200 million yuan, the size of the low cost of non lifting the ban until 2015.

You may be unbelievable. Baron East is actually the 155 stock in the new stock market. The only listed company that broke the net assets is only 0.96 times the market rate (which can be sorted through Tongda letter and great wisdom). Even if it is ranked second in the city net rate, the market rate of CITIC heavy industry, which faces the industry downturn, is still 1.18 times, and the breaking rate is not as serious as that in Bailong.

2. Baron East is the leading color spinning enterprise in China.

The high-end products in the industry have a high threshold (which is different from the general textile enterprises), and the duopoly of Huafu and the duopoly, which are the same as the listed companies, are known as the duopoly of domestic colored yarns. The market share of the two companies in the domestic market is over 40%, the main business of Bailong is outgoing, the gross profit margin is higher than that of Huafu, the current dynamic P / E ratio of Huafu color spinning is 24.81 times, the market rate is 1.43 times, the dynamic price earnings ratio of Bailong Oriental is only 14.35 times, and the market rate is 0.96 (already broken), which is more attractive than the valuation of Yu Huafu color spinning Bailong Orient.

3.

根据棉价定价的机制，使得2011年国内棉价处于历史最高位的色纺纱企业很受伤，色纺纱企业原料棉的成本占到总成本的70%左右，且棉花又属于季节性作物，2011年采购的高价棉在2012年消化库存时，出现了销售价与成本价差缩小，从而导致业绩大幅下滑，随着国内棉价趋稳，国内外棉价价差趋小，行业业绩出现拐点已经确定无疑，从事色纺纱行业的上市公司百隆东方、华孚色纺、鲁泰A一季报均业绩大幅增长，已经提前发布中报业绩的华孚色纺预计2013年中期业绩同比增长80~110%，而百隆东方募投项目中的邹城8 万锭项目将于2013年3月底投产，新国8万锭项目将于2013年4月份投产，越南项目也将于2013年年底投产，增加了多个利润增长点;以增资4.3亿元参股的宁波通商银行于2013年3月取得营业执照，二季报中又有新的利润增长点，以上是华孚色纺没有的，连华孚色纺中报预增都

If 80-110% can be achieved, then the net profit growth rate of Baron East will exceed that of Huafu color spinning, at least not much worse than Huafu color spinning.

In addition, Baron East announced in May 11th that the three subsidiary companies in Xinjiang will be pferred by 129 million yuan (the June 27th announcement is no less than 135 million yuan). The strategic thinking of the listed companies doing the main business is very clear, and may even have a significant investment direction that we are not yet aware of.

4. Bailong's severe stagflation in the early days of the East: as of the closing of June 28, 2013, since the big bang rebounded in December 4, 2012, Baron's total rose by only 6.56%, lagging behind 52.9% of the similar enterprises, A, and 43.48% of Huafu color spun. In the 57 stocks that were listed on the same time with Baron East, Baron rose only in the bottom twelfth position.

Bailong issue price of 13.6 yuan, according to the current share price discount rate of 55.5% (below the issue price of 44.5%), in the same period of listed shares, Baron East is one of the lowest discount stocks.

5, before the listing of Baron East, CITIC fund's Mianyang science and technology city industrial investment fund directly invested 185 million yuan to subscribe for 18 million 500 thousand shares, accounting for 3.08% of the shares; CITIC Industrial Fund's CPEChinaFund, L.P. directly invested 185 million yuan to subscribe for 18 million 500 thousand shares, accounting for 3.08% shares; investment in Jinshi investment 50 million yuan subscribed 5 million shares, accounting for 0.83% shares.

The cost of investing in the original capital is 420 million yuan, and the above three are all very PE companies. In the past ten invested listed companies, there are several times of floating profits. From the current perspective, only Bailong is the sole investment target for book losses. The 18 million 500 thousand cap stocks held by Mianyang science and Technology City Industrial Investment Fund and CITIC Industrial Investment (Hongkong) Co., Ltd. will be lifted in September 2013. There is no big wave of market prices. They can not sell and have no cash in cash. The investment in Jinshi investment, which is the lowest, is still 1.6 times higher than that of CITIC. The subscription costs were 10 yuan, 32.45% higher than the current stock price of 7.55 yuan.

6, when Baron went on the market, 5 products of Taikang Life were allocated 14 million 500 thousand shares at 13.6 yuan. In the 12 year's decline, the number of shares decreased to 12 million 200 thousand shares (three quarterly in 2012). The number of shares increased from 2012 to 13 million 770 thousand shares in 2013, and a quarterly report in 2013.

Increased to 19 million shares (five products all added positions), Taikang chose the worst performance of the 2012 annual report released after a substantial increase, indicating Taikang's basic improvement of the Bailong East.

7, as the most familiar with the operation of listed companies, Yang Weixin, the vice chairman of the listed company, and Yang Weiguo, vice chairman of the company, increased 2 million 7 thousand and 200 shares in April to June at the average price of 8.62 yuan after the announcement of the annual report in 2012.

行情最差的6月，合计增持金额在二市高管增持排行榜中列第8位(实际排名为第6位，其中伊利股份、泸州老窑为股权激励上市)，2012年11月15日上市公司发布公告称：基于对本公司未来持续稳定增长的信心，杨卫新先生、杨卫国先生及其控制的企业计划在未来12个月内(自2012年11月15日起算)通过上海证券交易所交易系统增持本公司股份，累计增持比例不超过本公司已发行总股份的2%(相当于1500万股)，根据2013年一季报，杨卫新已通过其控制的宁波九牛投资咨询有限公司于一季度增持了275万股，由于非高管股东增持在不超过1%额度的情况下无须披露相关信息，二季度九牛投资公司是否也增持了百隆东方目前还不清楚，需要等2013年中报披露时才看得清楚，如此最少估计一二季度大股东增持至少在475万股以上;

8, since the listing of Baron East, the number of shareholders has dropped from quarter to quarter, from 47077 in June 2012 to 34886 in the first quarter of 2013. The number of shareholders dropped by 25.9% compared with that in the market. The chips gradually moved to Taikang, CITIC and Bailong departments. In 2012, when the shares were listed on the Internet, 45 million of the shares were sold, of which 14 million 500 thousand of the shares were purchased by the Taikang company, only 2 million 300 thousand shares of Schroder were cleared, which cleared the barrier for the future stock price of Baron East.

9, for Baron East, apart from the analysis before me, there are actually some other advantages in valuation, such as: the capital reserve fund per share is as high as 4.08 yuan, the undistributed profit per share is as high as 2.63 yuan, and the stock price is only 7.55 yuan.

At present, the cash on the Oriental hand is very abundant, in 2012, it has also used over 1 billion yuan to carry out financial management, and the whole enterprise asset liability ratio is relatively low. Under the background of many small and medium-sized enterprises financing difficulties in China, it has the conditions to be stronger and bigger.

I think large shareholders can invest about 13000000 yuan in the worst trend of June to increase their holdings, which shows that the fundamentals of the enterprises will not be bad. Some people may ask: is it possible to protect the large shareholders from other funds withdrawal? I think this possibility is almost zero. First, the original shareholders have not lifted the ban. Who can he cover for them? Two, is the stock price up after the increase of the major shareholders? Generally speaking, the main funds must withdraw if they really want to withdraw.

It may also be doubted that the financial data of Bailong are water. Is there any Yang who is not chairman of the board of directors and vice chairman of the board?

　　10、 色纺业三家上市公司，百隆东方、华孚色纺、鲁泰A，你去看K线，华孚与鲁泰股价表现的联动性比较一致，唯独百隆东方特立独行，6月份的行情中，华孚色纺仅下跌2.58%，鲁泰下跌5.59%，百隆东方却大跌19.03%，K线形态极为难看，但6月大阴线的成交量仅为5月阳线成交量的65%，值得注意的是大股东增持情况：4、5月份大盘行情好的时候合计增持仅43.5万股，而6月份大盘行情差且出现大阴线时却让大股东增持了至少156.91万股，6月13日、6月24日二根中阴线，大股东增持的股份差不多是日成交量的20%，合计月增持量约占月总成交量的3.5%以上(暂且不计杨董控制的九牛投资咨询公司增持可能性)，可以看出在K线形态恶劣时正是大股东高效增持的最佳时机。

From the view of the K-line of Baron East, it may be that our retail investors will think that the share price of Baron's eastern stock rises to the strong resistance of the downward jump gap in July 30, 2012, and the main force is unable to go up and choose to flee, leading to a sharp downward adjustment. Is this really the case? You see, when Baron shares hit a new high this year, there was no volume at all, and where did they run away? In the current round of decline, Bailong fell to support and was also a very easy process. Its trend was very unusual with the Huafu color spinning and Lu Tai A in the same industry, and there were no heavy weights in the middle and overcast lines in June.