What are the top five steel enterprises in China?

In 2007 1 quarter, the company realized operating income of 124 1 billion yuan, operating profit of 21700 million yuan, up by 49.62% and 592.82% respectively, and net profit of14/kloc-0. The return on net assets was 6.03%, up 4.83 percentage points year-on-year, and the operating cash flow per share was 0.23 yuan per share. Earnings per share was 0. 18 yuan, a year-on-year increase of 462.5%. The company's gross profit margin in the first quarter was 265,438+0.29%, up 65,438+06.03 percentage points compared with the same period in 2006.

(1) Industry Status: The company is the third largest iron and steel enterprise in China, and its steel products cover more than 500 varieties in seven categories, including cold-rolled and coating materials, cold-rolled silicon steel, hot-rolled materials, large profiles, wire products, plate products and bar products, with an annual output of100000 tons. It is one of the main production bases of plate in China, and it is also the product with the most complete variety and the highest output in China. The company will exclusively produce a full range of automobile steel plates in China. After the cold rolling is put into production, the company will have the ability to produce high-grade cold plates and high-grade automobile plates, and will strive to become the main production base of automobile plates in China and the most competitive production base of cold-rolled silicon steel sheets in the world.

(2) Leading manufacturer of cold-rolled silicon steel sheets: the largest manufacturer of cold-rolled silicon steel products in China, maintaining the exclusive domestic production position of cold-rolled oriented silicon steel sheets and high-grade cold-rolled non-oriented silicon steel sheets, and now having the production capacity of 6.5438+200,000 tons of oriented silicon steel and 960,000 tons of non-oriented silicon steel. In 2007, the planned output of silicon steel reached114,000 tons (270,000 tons of oriented silicon steel, including 20,000 tons of HIB steel). In 2006, the main business income of silicon steel products was 8.672 billion yuan, and the profit rate of main business was 44.06%. The company's annual production capacity of silicon steel has reached 6.5438+0.42 million tons. After the completion of three pieces of silicon steel, the passive situation that China's oriented silicon steel mainly depends on imports will be ended.

(3) Technical advantages: 25 products of the company have reached the international advanced level, 8 have reached the domestic leading level, and 3 have reached the domestic advanced level; He applied for 27 patents, obtained 23 patents, and participated in the formulation of national standards and industry standards 12. The company successfully developed low-alloy high-strength series steel for GDS, and signed a long-term supply contract with an American company, which broke the record of zero export of this product in WISCO and filled the domestic gap.

(4) Developing iron ore in western Hubei: WISCO will accelerate the development of iron ore resources in western Hubei and build a new industrial chain. At present, the proven iron ore belt covers an area of 6.5438+0.8 million square kilometers, with a reserve of nearly 2 billion tons, which can be used by WISCO for 654.38+00 years.

WISCO Group plans to spend 7 billion yuan to give priority to the development of about 65.438+400 million tons of iron ore resources in Enshi. From 2007 to 2009, the development of raw ore 1.3 million tons in the first phase, 1.0 million tons in the second phase and 25 million tons in the third phase after 2009 will rewrite the history that WISCO iron ore is 80% dependent on imports.

(5) Development goal: By the end of 20 10, the production capacity of150,000 tons of steel will be formed, and the labor productivity will reach 1000 tons of steel/person/year or more; Accelerate the adjustment of process structure and variety structure, greatly increase the proportion of deep processing of products, with the proportion of plate and strip reaching more than 86%, and strive to build the company into an important plate production base in China, which mainly focuses on automobile plates and cold-rolled silicon steel sheets, and enter the ranks of world-class enterprises. In 2006, the output of WISCO automobile steel reached 6,543.8+0,000 tons, and in 2007, it basically formed an annual production capacity of 6,543.8+0.80-2 million tons, with a market share of about 7%.

(6) Performance forecast: We predict that the company's earnings per share in 2007 will be 0.7 1 yuan, and the current P/E ratio is only 15.08 times, which is lower than the industry average. As the company has unique technological advantages and good growth in the future, we believe that the company's reasonable P/E ratio should be 18-20 times, and blue chips should get a 30% premium, so the company's reasonable valuation is 16.6- 18.5 yuan, and we give it a "recommended" investment rating.