The reorganization of large state-owned companies in Shandong Province is expected to become a catalyst for the company's stock price. According to recent media reports, on March 4, Shandong Province issued a draft of the “Shandong Provincial Automobile Industry Adjustment and Revitalization Planâ€, which clearly stated that it supported the joint reorganization of Weichai Holding Group, Shandong Automobile Group and Shangong Group. From the current point of view, integration is at the group level and has no direct impact on listed companies, but the news is expected to stimulate the company's stock price to rise.
We expect the company to achieve EPS of 2.26 yuan, 2.37 yuan and 2.60 yuan in 2008, 2009 and 2010, respectively, corresponding to a dynamic price-earnings ratio of 12.1, 11.6, and 10.5, taking into account the company's downstream construction machinery, heavy truck industry recovery As for the signs, we upgraded the company's rating from "neutral" to "overweight."
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