Can superstar technology 20 15 go well?

Different from the market point of view, Superstar Technology is the leader of hardware tools industry, with its main business growing steadily, the American economy accelerating its recovery, and the upstream raw material prices falling, which promoted the performance improvement; The foreign hand tool market is huge, and the company still has a lot of room for growth; The domestic market is in the ascendant, and the company has laid out both online and offline, with a compound growth rate of over 70% in recent years. While consolidating and improving the market share and position of hand tools business, the company actively expands intelligent high-tech business and lays out logistics and service robot business by relying on its own perfect and mature sales network. New investment technology companies are in a leading position in China, and it is estimated that the popularization of technology in 15 years will create considerable benefits.

The main business has grown steadily, and many benefits have promoted performance improvement. The company's main products are hand tools, which are mainly exported to Europe and America. Since 20 13, the company's performance has grown steadily due to the accelerated recovery of the American economy, the depreciation of the RMB and the continuous decline in the prices of raw materials such as steel, aluminum and PVC. In the first three quarters of this year, the company's total operating income was 265,438+72 million yuan, up by 10. 18% year-on-year, gross profit increased by 2 percentage points to 29.88%, and net profit was 4180,000 yuan, up by 26.52% year-on-year. The annual output value of the global hand tool market exceeds 40 billion US dollars, and the company's market share is about 1%, so there is still much room for improvement.

The domestic market is in the ascendant, and the company has great potential. Affected by the rapid increase of housing stock, rising labor costs and cultural investment, the hand tool market in China is about to explode, and the potential consumers are expected to exceed 400 million. The company made efforts online and offline at the same time, and set up 83 first-class dealers and 54 1 second-class dealers and self-operated stores in Tmall, JD.COM and Amazon to speed up the construction of domestic sales network; In the past two years, the compound growth rate of domestic business has exceeded 70%; The domestic market will become a new growth point for the company.

Enter Zhong Yi, March into intelligent manufacturing, and build a new growth pole with robots as the core. Industrial robot: AGV logistics robot technology is leading, downstream customers are consistent with forklift customers, and the performance of Hangcha sales platform is expected to improve rapidly; Service robot: the $40 billion blue ocean market is to be developed, focusing on the international market. With the channel advantage, it is expected to explode in the short term; Solar energy central control: domestic monopoly of photothermal power generation technology, steady progress of tower technology; Zhong Yi and Energy Saving: 15 The popularization of energy saving technology is expected to bring considerable benefits; Central control research institute: focus on specific fields and help the development of brother companies.

Earnings forecast and valuation: We expect the EPS of the company 14 to 16 to be 0.54 yuan, 0.66 yuan and 0.80 yuan respectively, and the current share price corresponds to 24 times PE, 19 times PE and 16 times PE, which is the first replenishment. It is highly recommended.