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Huachang Chemical: fertilizer soda ash into the paper industry earnings recovery

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As the field of fine chemicals company to a key step forward, the company raised the tender, one of the listed 1,000 tons / year of solid sodium borohydride project is expected in December 2010 or January next year, officially put into operation. According to our research to understand, the company has overcome all the technical difficulties, is expected to put into sodium borohydride as one of the most quality products, wide range of applications. Successful operation of the product marks the company in the paper industry, pharmaceutical intermediates and the battery industry has taken a solid step, from a cyclical chemical and fertilizer industries to diversify the company forward. Sodium borohydride future growth for the company will become the key product. Fertilizer prices continue to rise, even in the absence of sufficient capacity utilization, but also the performance of chemical Huachang greater support. Beginning in 2010, soda ash prices rise, the current price stability in the 2,500 yuan / ton, a record high, resulting in significantly improved corporate profitability. In 2010 the company has played a key role in reducing losses. Dynamic adjustment of debt reconstruction project and the technological transformation of the company will reduce production costs. Company shares Jiangsu Yi Kewo green energy companies, accounting for 30% of the equity, the company mainly produces SWCO method of sewage sludge treatment plant, expected to be produced at the end of this year's first device, for demonstration of the company's operations. We believe that as countries increase the importance of sludge treatment and the introduction of relevant policies, the company is expected to start contributing in the performance of the next two years, the company plans to start a pilot industrial park in the promotion of the Yangtze River. Through analysis of the company's products, we expect the company main products in 2010-2012 to 2.38 billion aggregate sales revenue, 28.3 billion, 3.03 billion, gross profit of 2.6 billion, 600 million, 6.2 million. The first rating of "buy."
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