raised 2013-2014 performance

Guanghui share: 34.8 per cent of volume target price of energy industry Guanghui shares the main structure had almost completed a full range of business into the energy industry, diversification, integration of clean production-processing-marketing industrial chain has become more and more clear. At the same time, non-energy commodity trading business in the business and commercial leasing business, the company has decided to exit in the near future. Pool resources to build up pure General energy industry, the company name will be changed to "Guanghui energy ". We believe that management not only have the strategic vision of the company, while also being verified its strong executive power. Companies in the petroleum and natural gas reserves, coal chemical industry and market development in railway project construction, once again a major breakthrough. (1) energy logistics base achieved important progress in xiaoliugou, Gansu province click here, complete linkage test fast loading system, coal sales are expected to usher in explosiveGrowth, future 3-5 years diablo iii power level, coal in Xinjiang guanghui, and (2) to Hami coal chemistry project will be put into trial operation in May 2012, with an annual output of 490 million to LNG/120 million tonnes of methanol began contribution to profit, and (3) jeminay LNG project might be put into production in October 2012, Shanshan, Hami, jeminay three LNG production bases of basic formation�� (4) in Kazakhstan held Mary Shefqet Zhai oilfield and the South germari oilfield, Zhai oilfield in 2012 began trial production of Mulberry is expected. Based on our tracking, analysis and judgment of the business of the company, the company is about to enter a period of rapid growth, and 2012 is the wide meeting rising energy, verify that the first year of transition. Key drivers for each period in the next 5 years, non-Often we keep on tracking. While the company may be due to a variety of factors, their project's progress may be slower than expected, but we are optimistic about its pace and aggressive determination. Considering the operational progress of the company, we downgraded 2012 performance, raised 2013-2014 performance, prediction of 2012-2014 net profit respectivelyFor: $ 1.936 billion, $ 4.554 billion, $ 8.45 billion. Equivalent to EPS respectively for $ 0.99, $ 2.34, $ 4.34. Continued optimistic about the medium-and long-term investment value of guanghui, maintain the company a "buy" rating and target price range $ 34.80~36.77. Slightly increased mainly due to the growth of the company's target price certainty enhancementsLower risk premium rates.