swtor credits Editor - ZNE

"Financial network zhuangao" journalist Maria q. Feng in 2012, the Ministry plans to invest 500 billion yuan in fixed assets, including railway capital construction investment of 400 billion yuan, although from 2011 reduced, but the scale of investment is still huge. 　　Data show that in 2011, the national railway capital construction invested 469 billion yuan is expected to be completed. January 31Today, ping an securities published an inquiry report noted that, currently the Ministry of railways in less than 20 billion yuan in net profit, asset-liability ratio of 60%. To meet the 2012 investment target is very difficult. As a subsidiary of Ministry of railways of the most profitable carriers, Daqin railway capable of making foreign investments and expansion is expected to be one of the investors involved in railway construction, for new railway projectsHolding or participating shareholders. According to the Daqin railway assets operating in good condition, debt ratio of only 36%. 　　Cash-rich, attributed to parent company's annual net profit of more than $ 12 billion, annual dividend yield of over 5%. But volume overload of da-Qin railway operational phase, design capacity is 400 million tons, the current traffic volume exceeds the actual capacity of the 10%。 In accordance with the planning, Daqin railway 2012-capacity target of 450 million tons. 　　Due to the strategy of the Ministry of railways by the pursuit of volume growth swtor credits, changing to focus on quality and safety of operations, da-Qin line there is no substantial increase in the volume of continued pressure, 2011 has completed 440 million tons of freight volume goals. Ping an securities said the old republic power leveling, as the railway reform involves intricate interests turned offDepartment of long and arduous process. Long term good for the company swtor power leveling, but the short-term impact on the company limited. 　　Railway reform and Daqin railway freight volume growth into account lower-than-expected lower corporate earnings forecasts and ratings. From 2011 to 2013, ping an securities predicted that vested in the parent company's net profit of da-Qin railway respectively, and $ 12.264 billion$ 100 million and $, EPS $ 0.82, respectively $ 0.87 and $ 0.93, corresponding PE 9.3 times, 8.8 times times and 8.2 times times, respectively. 　　And the company's rating from "strongly recommended" was cut to "recommend". 　　On January 31, the Daqin railway closed at $ 7.7, up 1.58%. (Stock market weekPublished in the feed) "author:" financial network zhuangao "journalist Maria q. Feng" (Editor: Wang Juan)