Anhui Heli: stock price hit 6 year high, obvious advantages       

Recently, Anhui Heli company shares continued to steadily rise, right after the stock price hit a 6 year high, the current valuation of the company is still quite obvious advantage (14 years PE 10 times), we come together to analyze.

Asset quality is good, R & D and cash reserves are abundant

Completely different from other construction machinery, the quality of the company's assets is very good, the balance sheet is very clean and healthy (without interest bearing liabilities, accounts receivable balance only accounts for 10% of annual sales revenue). The leading position of the industry is stable, and R & D and cash reserves are rich. The company has more than 700 R & D team, the annual R & D expenses accounted for more than 4% of the revenue, and R & D investment of 268 million in 2013, the company has abundant R & D reserves. In addition, the company's cash and financial products reserves close to 1 billion, the main industry has no large capital expenditure, technical reserves and sufficient funds will become a new field of development guarantee.

Total logistics growth and artificial substitution drive forklift industry to grow steadily

Forklift industry is different from other construction machinery, the industry is driven by total logistics growth and artificial substitution, the future industry growth rate is expected to remain at GDP growth rate of about 1.5 times. The sales ratio of clean and environmentally-friendly electric forklift truck is continuously increasing, and the future upgrading direction of forklift truck industry is AGV unmanned forklift truck. The product upgrading of forklift industry will further open up the growth space of the industry.

Excellent management team, reform of state-owned enterprises to stimulate development potential

Anhui state-owned enterprise reform first Jianghuai state-owned enterprise reform program successfully landed, JAC program for Anhui joint force to learn from great significance, state-owned enterprise reform is approaching. The management team is excellent, the incentive measures of the management team are more flexible after the reform of state-owned enterprises, the team interests are bound, the operational efficiency will be further improved, and the business development will be more active.

Generally speaking, Anhui Heli company develops steadily, has sufficient funds and excellent personnel, and the company has great room for development. I believe that under the impetus of national policy, under the leadership of the company's efforts, under the impetus of all staff, Anhui joint force will be unlimited in the future.