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Emei A: area expected strong price increases
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Mt A (000888) is principally engaged in Yu Shan votes, cable transport, accommodation, catering, entertainment, car passenger, travel agencies and tourism product development, hydropower and tourism development. Mount Emei Scenic Area in which the company is double the world's natural and cultural heritage, has so far received the first National Scenic Area of civilization, the state-level scenic spot 5A, outstanding eco-tourism area and "the most beautiful in China
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Hong Yuan Securities +0.924.51% 21.33% China Construction 3.91 +0.123.17 Emei A18.30-0.51-2.71% ten famous mountains, "and many other awards, to consolidate the Mount Emei scenic area management services in the country's leading position. Today, investment" Online analyst "display: Company 2010-2012 Consolidated earnings per share forecasts were 0.51 yuan, 0.63 yuan and 0.75 yuan, corresponding to dynamic price-earnings ratio of 39 times, 32 times and 27 times; the current total of 14 analysts tracking, which strong buy and buy recommendations 4 and 10, respectively, integrated rating factor of 1.71.

First half of 2010, Mount Emei Scenic trips 844,000 passengers, an increase of 17.59%. Operating income of 330 million yuan, an increase of 33.24%; operating profit of 4,183 million, an increase of 159.93%; net profit attributable to parent company 3,471 yuan, an increase of 149.87%; earnings per share of 0.15 yuan. First half net profit was primarily driven by substantial growth in tourism and hotel industry in the two main operators have shown the positive trend of volume and price go.

Company is currently implementing the "seven marketing, one-third of management", increased market development and strong marketing, market research is based on the core of the overall marketing campaign, marketing channel development as ways to establish and improve the scenic, travel agencies, destination marketing system, marketing linkage mechanism for the formation of Mount Emei, and enhance the integrity of marketing, professional and systematic, to maximize the stability of the tourist market share; a network marketing alliance, build Mount Emei - Leshan Giant Buddha network of external platforms, network breakthrough in communication channels. Days congenial care that this will increase the number of tourists, and with the cable price adjustment, the company profit levels will be increased.

Which opened in 2012 Chengmianle intercity railway will greatly enhance the local convenience of tourists into the mountains, Emei Scenic Area is expected to develop into a tourist weekend Chengdu tourist destination, Chengdu and Chongqing area population of 113 million, and the population of Yangtze River Delta region rather, Hong Yuan Securities area the next three years is expected to maintain 10% -15% of the tourists growth, net profit compound growth rate of 20%. In addition, the area is currently running high season fare of 150 yuan / person, in the four famous Buddhist mountains in the lowest ticket prices. Hong Yuan Securities believes that the expected strong price increases area, according to the relevant policies and regulations, area in April 2011 to apply for price increase of 25%.

Dongguan Securities expects the company in 2010 and 2011 earnings per share reached 0.51 yuan and 0.63 yuan, respectively, corresponding to earnings multiple of 36.8 times, 29.7 times, to maintain its "recommended" rating.

Risk factors: the tourism industry affected by natural disasters, social impact of large emergencies, case of emergency, force majeure, and macroeconomic and other factors, will affect the company's business; the current performance of the company growth is mainly driven by the endogenous growth, The epitaxial growth potential is limited.