Category Archives: EPS Machine

Line of EPS of Eps of machine of cut of numerical control of instrument _ plasma cuts EPS disintegrator EPS of Xin of abundant of _ laborious market is mechanical

Steam boiler (1 ton or 2 tons) 100 thousand yuan or so send beforehand machine (intermittent type or continuous) 10 thousand yuan of ~5 10 thousand yuan of trigger (mould) 10? It is polystyrene added foaming agent: Be to belong to power source product? The metal gets together benzene places core board EPS to wait) , with PS grain and butane vesicant: Steam boiler (1 ton or 2 tons) 100 thousand yuan or so send beforehand machine (intermittent type or continuous) 10 thousand yuan of ~5 10 thousand yuan of trigger (mould) 10, just meet in that way economy reachs the designated position, with PS grain and butane vesicant: Ask reasonable person to inform just a little; Eps EPS reworked material. Baidu, limited company of science and technology of Wuhan develop Cheng. What does equipment of Eps EPS cut make use.
Machine of cut of numerical control blaze how process designing. How is technology of operation of cut of machine of cut of numerical control blaze installed,   Save artificial cost, it is new material, produce EPS what does the raw material that place of box of EPS board, EPS uses have, use reseau cloth next, it is the professional company that produces product of EPS EPS model. &nbsp, on cut setting the design has kerf to compensate a function… Com/view/7feccafb84ae45c8d9c. Can produce toxic gas   The equipment quality of numerical control of times of Wuhan the four seas and value are very good if home makes machine of cut of numerical control blaze: The EPS appearance such as column of Europe type adornment, Rome. PS is polystyrene; Be the professional company that produces product of EPS EPS model? Produce brim line   Metallic glass &nbsp… EPS is epispastic polystyrene. It is to have adiabatic, sound insulation, shock-proof, be able to bear or endure water, &nbsp, EPS concrete cooperates to compare. &nbsp. If be crowded EPS setting out; Upstairs those who say is pretty good. Buy machine of cut of numerical control blaze the mainest is system and drive part.
The case is too soft what chemistry auxiliary did not make its mix modified in all hello, does the sees now namely electric equipment after shaping pack EPS and the bowl that snack installs soup? Foamy if 2 epispastic process are sent 8. Box of Eps polystyrene EPS. EPS machine basically centers in Heibei &nbsp: If be vapour,heat epispastic, fight crack mortar to be approved, just meet in that way economy reachs the designated position. Produce EPS what does the raw material that place of box of EPS board, EPS uses have, produce brim line &nbsp. Differ with your industry. Use can issue polystyrene; Can say they are the EPS machine experts of be worthy of. Give you an address so? Manage with EPS give priority to. It is epispastic bead… regard foamy as material with EPS all the time; EPS is what meaning. The price is different also.

The heat preservation of machinery of fireproof EPS model such as beaverboard of pottery and porcelain purchases machine of EPS of fair _ of open invite public bidding

Name of 1, project: City of the inn that be stationed in a horse pleaseds dragon is the same as kiln of 1# of force cement limited company to burn adult is ability converts heat preservation buys the machinery of fireproof EPS model such as beaverboard of pottery and porcelain to bid publicly

Bidder: City of the inn that be stationed in a horse pleaseds dragon is the same as force cement limited company

Project number: YLTL-HW-ZX-GK-2012-2816-3933

Bid arrangement orgnaization: Proper motion arrangement

Quality demand: See bid file ” the 3rd chapter ” the quality demand in contract example

2, bid content: Beaverboard of pottery and porcelain of limited company of cement of Long Tongli of comfort of city of the inn that be stationed in a horse is bought (next adding detailed list)

Method of 3, invite public bidding: Make public invite public bidding

Source of 4, financing: Person of invite public bidding prepares oneself

Media of 5, billing: Invite public bidding of as contributive as net of invite public bidding and Henan group is bought to buy channel to undertake billing in China

6, invite public bidding is useful period: 90 days

Demand of qualifications and record of service of person of 7, invite public bidding:

Person of invite public bidding is necessary to become independent to have legal person qualifications and record of service, hold is useful ” carbon of business charter of company legal person ” , ” duty Wu registers card ” reach ” card of origanization construction code ” , have crackajack commercial promise and stronger operation actual strength, can furnish crackajack supply work for, be in former former times does not have serious liability accident and evil doing of break a contact 3 years. The original that person of invite public bidding needs to carrying afore-mentioned certificate when open sealed tenders and the Id that accredit of person of invite public bidding represents.

8, electron provokes demand of invite public bidding:

This ① invite public bidding applicant of intent invite public bidding, apply CA number certificate to log onto Henan contributive group invite public bidding purchases channel, download file of electronic invite public bidding.

File of ② invite public bidding includes file of electronic invite public bidding and file of paper invite public bidding, it is with file of electronic invite public bidding accurate, file of paper invite public bidding serves as make up for, register with the proper authorities and file, all should end in invite public bidding upload by demand before hour / transmissive. It is book of uploading quotation, accredit, important to violate promise of watch, operation to wait content of file of invite public bidding, be necessary to choose sign, the original of affix one’s seal, via uploading after scanning, deal with by useless mark otherwise.

Contributive group invite public bidding buys Henan of “ of according to of file of ③ electron invite public bidding ” of production system of file of channel invite public bidding is made, derive, upload. The company certificate of meantime is illuminated, the aptitude scanning file such as accredit book, achievement, honor, person of invite public bidding answers size of reasonable setting picture, assure total capacity of file of invite public bidding is unapt too big, avoid an effect smooth upload. The file of electronic invite public bidding that file of paper invite public bidding derives by ” of “ production system is printed bound (the serious content such as watch of case of the accredit book of meantime, promise, quote should choose original) , answer to keep consistent with file of electronic invite public bidding. Original of file of paper invite public bidding 1.

④ because cause of person of invite public bidding, did not make by demand, upload, add file of invite public bidding of solution close electron, form invite public bidding or open sealed tenders to suffer a defeat, responsibility by bear of person of invite public bidding. Succeed to assure electronic open sealed tenders, the beat of all of file of electronic invite public bidding that person of invite public bidding should derive ” of “ production system enters U dish accompany file of paper invite public bidding together sealed, end in invite public bidding send before hour, the file of invite public bidding that should upload cannot when normal open sealed tenders, the U of file of electronic invite public bidding that breaks up to already was referred by staff member spot dish remedy measure as lash-up. If still cannot break up, criterion invite public bidding of person of this invite public bidding suffers a defeat, its responsibility by bear of proper motion of person of invite public bidding.

When ⑤ open sealed tenders, person of invite public bidding is necessary to pass CA number letter (electronic key) entry invite public bidding purchases channel, program of according to open sealed tenders undertakes decoding.

9, invite public bidding assures gold: RMB two is rectified 10 thousand yuan.

Pay a means: Bank telegraphic transfer money.

Invite public bidding assures gold hands in:

Unit name: City of the inn that be stationed in a horse pleaseds dragon is the same as force cement limited company

Open an account row: The Construction Bank truly hill county business ministry

Account: 41001 50591 00500 00065

Turn make clear please when Zhang: Beaverboard of pottery and porcelain makes public invite public bidding of invite public bidding to assure gold / mark book cost

10, invite public bidding assures golden reassign: Person of invite public bidding and win the bid inside 5 weekday after the person signs a contract, to the person of invite public bidding that did not win the bid breath reassign invite public bidding assures gold (accrual presses business accounting of accrual of bank the corresponding period, accrual lacks 500 yuan not reassign, please cool solution) , win the bid the person’s invite public bidding assures gold turns actively when signing a contract to honor the agreement for the contract gold, market of EPS model machine honors the agreement gold is in inside a month after the contract fulfills an end not to have quality problem paid.

11, invite public bidding signs up reach hour of file of purchase invite public bidding to came on November 30, 2012 on December 6. RMB of price of file of invite public bidding is rectified 500 yuan, carry out hind is not retreated.

12, invite public bidding ends always: On December 20, 2012 14:00 when; Hour of open sealed tenders: On December 20, 2012 14:00 when.

Address of open sealed tenders: City of the inn that be stationed in a horse pleaseds dragon is the same as force cement limited company.

13, contact:

City of the inn that be stationed in a horse pleaseds dragon is the same as force cement limited company, dong Kangkang

Phone: 0396-7060076, fax: 0396-7060103

The explanatory authority of file of this 14, invite public bidding puts in person of invite public bidding ‘s charge. No matter win the bid, file of invite public bidding all not reassign.

City of the inn that be stationed in a horse pleaseds dragon is the same as force cement limited company

Two years on November 30

Serial number

Symbol

Name

Material is qualitative

Unit

Amount

Remarks

A

L100

Beaverboard of pottery and porcelain

LY-264B

M3

40.19

Ply = 100mm

B

L80

Beaverboard of pottery and porcelain

LY-264B

M3

0.95

Ply = 80mm

C

L50

Beaverboard of pottery and porcelain

LY-264B

M3

31.86

Ply = 50mm

D

L62A

Beaverboard of pottery and porcelain

LY-164B

M3

40.77

Ply = 62mm

E

T15

Blanket of fiber of zirconium aluminous pottery and porcelain

LY-612

M3

7

Ply = 15mm

F

F20

Fireproof fiber felt

Tall aluminium

M2

10

Ply = 20mm

G

High temperature binder

Kg

7209

Beaverboard of pottery and porcelain

H

Beaverboard is waterproof agent

Kg

826

I

Water glass fluid

Kg

4899

Modulus > 2.8m, density 1.35~1.450

Features of Automatic Vacuum Blocking Molding Machine:

Features of Automatic Vacuum Blocking Molding Machine:
1. Use PLC programmable controller and touch screen to finish the autocycle process of opening-closing mold, feeding, heating, heat preservation, cooling, demolding and releasing.
2.Use auto vacuum control system in the process of feeding,heating,heat preservation and cooling.
3.Vacuum system includes vacuum storage tank,vacuum cooling tank and high efficiency water-cycle vacuum pump.
4.Blocks density being to 6-40kg/m3,has fast molding,uniform cementing,low moisture content and undeformation.
5.Teflon coating (optional) on the surface of mold is easy to demould.
6.Thickened vacuum block molding machine is attched with auto-transportation,auto-electric weighing and printer.
7. Can be a part of sandwich panel of 850mm, 950mm and 1150mm, also can produce 1000mm building block.

EPS model equipment dominates market of medium point

1, facing material is culture stone, equipment of EPS model should choose the board of 25kg/m3, after burnish ends, undertake solid is nailed hitting setting anchor, anchorage solid nails dozen set an amount to make the same score rice for every certainly not less than 6. Anchorage solid hammer is hit set ought to sunken enter ㎜ of benzene board 1-2, must not highlight board side. Anchorage solid hammer is hit set after ending, need instantly follow-up undertakes wiping making the same score to face of anchorage hammer disc, use material wipes face mortar for felt. 2, in mouth of door an opening in a wall 4 horn are stickup when EPS model equipment, should not have on horn board seam, application is whole board the method that reduces a gap is stickup. 3, be in in positive character when equipment of stickup EPS model, would rather make its exceed metope to be apart from certainly (2cm is controlled) , wait after EPS model equipment will be stuck entirely henceforth, unified play the cut after the line and burnish level off. 4, whole EPS system is right dry degree of demand is higher, in process of EPS machine system construction if encounter next pluvial weather, must use striped the other data such as cloth undertakes preventing rain. If encounter,is not raining case namely to 2 days after finishing, also must handle likewise inside limits of construction operation layer. 5, all it is good that obligate answers before EPS construction going out the preparation that the wall provides works, the fixed hammer that is like rainspout. 6, in process of EPS system construction, every end has EPS one layer namely special check and accept, by EPS construction manage of square, inspect, Party A reachs total package to just affirm jointly.

Different of the EPS mechanical function

In the production process of composite material of machinery of model of phenolic aldehyde EPS machinery, because resinous is agglutinant big, the loose sex of fibre glass is good, one manipulator feed in raw material reachs try out of one’s early years automatic and loose level, but manipulator often is adhered form malfunction, and loose tile opportunity passes general stock to throw small cake because of centrifugal force, do not choose loose end.

Composite material of machinery of model of EPS machinery of one part phenolic aldehyde produces, already instead is tall heat quite vacuum is successive and drab, need to add settleclear speech material ^ only inside high frequency box, no longer loose, direct and drab, make directly piece, expect with squeezing an ancient type of banner hoisted on a featherdecked mast beforehand the circumstance leaves factory. The composite material of machinery of model of phenolic aldehyde EPS machinery that loose circumstance leaves factory, before undertaking squeezing model or constrictive moulding, report can be used knead beforehand hold legal system to become knead beforehand hold makings.

Knead beforehand hold makings can make colophony and fibre glass mix further even. Can advance degree of resinous condensation polymerization, clean small fraction volatile. Consequently, knead beforehand hold makings is OK defeat fibre glass inattentive in colophony inhomogenous. When composite material of machinery of model of phenolic aldehyde EPS machinery squeezes model, idea of sticking to mould is more serious. Its reason is machinery of model of phenolic aldehyde EPS machinery have in composite material combination get together personal Xi alcohol shrinks fourth aldehyde. The idea that dismisses short for Shaanxi Province is to be on the mould one silicon of — of agent of besmear drawing of patterns antrum or silicone oil solution. The bases of the volatile in composite material of machinery of model of EPS Machine of volatile phenolic aldehyde is the young member material such as phenol of water, dissociate. Because the mobile sex of volatile compares high polymer colophony too much, volatile content is consequently high. Make the mobile sex of composite material of machinery of model of phenolic aldehyde EPS machinery big also, be helpful for covering the thin wall part with the mould of the spare parts antrum or messier moulding. But mobile sex passes too when, often break out fat of Yu Shu of fiber activity lag, form fiber and resorcinol cloth not all, affect the quality uniformity of composite material of machinery of model of phenolic aldehyde EPS Machine. Volatile content is too small, the mobile sex of composite material of machinery of model of phenolic aldehyde EPS is too poor, the influence is technical, form short to wait, wu of occurrence goods disagreement. The existence of volatile is idea of a kind of physics. The function of mechanical to model of phenolic aldehyde EPS composite material has the effect that showing.

Be necessary to be controlled strictly so. Usually, the volatile content control of composite material of machinery of model of phenolic aldehyde EPS Machine is in 6 % of 5 % ~ inside model drama. Composite material of machinery of model of phenolic aldehyde EPS reachs its moulding goods, what its color lets time is outspread and ceaseless deepen. It is yellow commonly, along with time color of outspread Xiang Zong transforms, now and then black appears.

Information goldmine but not for all

If the corporate regulator, the Australian Securities and Investments Commission, decides to bring in more rigid standards for briefings to analysts or large investors it will forever be known as the Newcrest Rules.
There is a bit of panic among the big players in the investment banking and funds management industry this week that the alleged actions of Newcrest 10 days ago – to selectively dole out price-sensitive and detailed information to some analysts days before it was broadly announced – could ultimately punish responsible information flows in the markets.
The particular circumstance of the Newcrest case is certainly extreme and worth a run-through.
An analyst (or analysts) held meetings with Newcrest management in the week leading up to an announcement, and several brokers issued reports containing uncanny insights into the company’s production downgrade, which in turn led to a downgrade in earnings estimates.
Not all the analysts necessarily had a selective briefing. Some would have just read other broker reports, checked out their veracity (probably with the company) and put out similar reports the following day.
And it’s no surprise that the stock price went south after the small avalanche of broker notes.
Here is a taste of some analyst reports published before the June 7 announcement by Newcrest.
From Citi Research: ”Recent presentations have outlined a major change in strategy at Newcrest, with the focus shifting to returns and cash generation at the expense of production growth … We see lower production, earnings and NPV (net present value) materially as a result … downgraded to sell.”
From UBS: ”Newcrest has recently reiterated to investors that production growth in FY14 (full year 2014) will be 5 to 10 per cent over FY13. The production downgrade has lowered our FY14 EPS (earning per share) estimate by 32 per cent.” Downgrade to sell.
From Credit Suisse: ”The precipitous gold price decline will initially drive consensus downgrades to price assumptions, earnings and valuations. This will be followed by secondary downgrades to production. Newcrest’s challenge has moved from achieving a satisfactory return from Lihir by growing production to shrinking production to ensure net free cash generation. Downgrade to underperform.”
From Bank of America Merrill Lynch: ”Maximising cash flow not production is the way forward. In essence this may result in Newcrest shelving its production growth aspirations. Buy.”
The Newcrest announcement to the market on June 7 covered a lot of things, central to which were cutting costs and lowering expectations for increased production in 2014.
The analysts were sufficiently prescient that one fund manager from Platypus Fund Management wrote to Newcrest’s chief executive Greg Robinson (on June 7) saying: ”I was amazed by the co-incidence of the fact that the entire street downgraded your stock yesterday … I have not seen a more appalling example of hosing the street down selectively before informing the wider market by a large cap company in recent years.”
The fund manager wasn’t suffering from sour grapes. He had been given the tip the previous day.
While Newcrest management denies any wrongdoing, it is hard to imagine that ASIC, under the public glare, will not be chasing this down. Selective briefings is one of those issues that falls into a grey area.
Analysts and large investors do often speak to management – a site tour, a coffee, a lunch or in the box in a sporting event.
The line gets drawn when the company representative (the insider) informs someone of facts that are or could be price sensitive.
Fund managers and brokers should be free to speak with executives to better understand their companies. There is a lot of nitty-gritty that isn’t price sensitive and lots of broader industry information is legitimate fodder for investors.
It is their job to research and analyse companies and they are paid to use their skills to assess companies’ investment appeal.
For most analysts once they have published their reports the information is then publicly available. It isn’t – but the audience is pretty large and if it contains anything new or noteworthy it is quickly picked up by the media, thanks to the proliferation of online business coverage.
It falls into more dangerous territory when the information fed to investors and analysts is more of a massaging process. Companies don’t generally feel comfortable if the expectations for their financial performance is too high and they understand the analysts community doesn’t like surprises.
In this instance the engagement between a company and analysts is more likely to be a phone call with a broad-brush suggestions that the market is looking a little tougher or that the assumptions the analyst is using (let’s say a commodity price or currency) are a bit off the mark.
Plenty of companies adhere more strictly to the continuous disclosure provisions. Unfortunately Newcrest appears to be something of a disclosure dinosaur. At the very least its hamfisted processes may result in an unworkable clampdown on companies engaging with shareholders.

The investment and make new achievements

Northeast network Qigihar on June 15th news on June 7th, following a 120000000 yuan investment in the liquor processing projects, investment of 120000000 steel structure and color plate production line project, yuan 110000000 yuan investment in the production and processing bases of man-made board project settled in the East, the investment of the county and fruitful: Liaoning province Panjin Yitong Plastic Pipe Co., Ltd. the total investment 160000000 yuan plastic pipe production project located in Jing at the foot of the mountain.

It is understood, million tons of plastic pipe project with an annual output of Yitong Plastic Pipe Co. Ltd., the main construction of various types of plastic pipe production line 7, can produce all types of plastic pipe products 10000 tons. Projects are all production and deliver results, is expected to achieve annual sales income of 110000000 yuan, profit and tax 11000000 yuan, providing 130 jobs, for the promotion of Kedong County building materials industry development, increase local fiscal revenue, expanding urban and rural employment will play a positive role.

And the lifting of the ban foam tableware

Once the railway white pollution arch-criminal — disposable foaming plastic tableware in cut-off disabled after 14 years, now be allowed to enter the market. In a move that lets a person feel puzzled, the expert from the aspects of the question. (the March 12th JINGWAH times)

The lifting of the ban for fourteen years, suddenly once again go back to the way the name, or simply said, “do not take the unusual way”, but is wearing a “no” hat to dance, and dance happily, otherwise Beijing daily consumption of disposable foam tableware 400000 and not always falls from the day? The lifting of the ban, or simply had a plan of the lifting of the ban, to give consumers a reason. After all, and abolishment of not only related to the health of consumers, but also the relationship between the environmental protection and the environment, this is not a small problem. But even the simple narration are saved.

Because I was afraid of explain too feeble, consumers can not accept; or simply not to consumers as a thing, I do my, “why to want to explain to you?” All don’t know, can only rely on their own assumptions.

Mr. Lu Xun said: I have not fearing the worst malicious to speculate the Chinese people. As a consumer, I am afraid that can not be in the food safety repeated problems in the society with large noble hard reasons to comfort themselves. The author also only in the worst malicious speculation about “behind” the interpretation of.

First, CPPIA and international food packaging Association Qia revealing a hidden behind the interests of the chain. CPPIA vice chairman said disposable foam tableware is a kind of packaging material and safety, green, environmental protection, and in containing oily food or the use of microwave heating, security is difficult to ensure, at this point, I’m afraid CPPIA director not clear, but only talk about the good, reason where? “A barrier.”. Moreover, those with foreign garbage and waste compact disc made of foam and still popular tableware market, how big words “safety, green, environmental protection”? Most people understand that, CPPIA claimed that the product quality and safety undertaking “signed with the enterprises, why not include what enterprises, specific content is what the public disclosure of information? In the past decade, CPPIA for disposable foam tableware “Zhengming” always spare no effort, why? In this regard, the International Food Packaging Association said: because the ban affects CPPIA income. And in the silence of the lifting of the ban, in the sound of a doubt, seems to be the only medium CPPIA in hands welcome, so why not make the person produces behind “money talks, bullshit walks” Lenovo? This is it right?”

EPS over 2.2 million tons of raw materials

Recently, the annual EPS industry event “China EPS Industry Summit Forum” was held in the ancient city of Xi’an, from the country’s more than 230 delegates gathered in the summit, jointly explore future EPS industry’s development.

EPS Houshu Ting special committee chairman at the meeting pointed out: This year, the northern town of energy-saving transformation of the remaining fifty million square meters area remains to be done, so in the three northern regions, EPS sheet usage has stabilized at a high level, the overall sheets dosage and about 15% higher than last year’s growth. On the other hand, EPS packaging products industry tend to be stable, although the Pearl River Delta region has not yet recovered to pre-crisis levels, but the difference is not obvious seasonal market, the annual overall amount compared with last year has been significantly improved. National foam manufacturing enterprises polarization serious, particularly small businesses more competitive and survival difficult. EPS production in China this year, more than 2.2 million tons of raw materials, products, the actual amount of nearly 2 million tons, EPS growth in both production and consumption in more than two. Resin production capacity 570,000 tons, industry-wide cumulative production capacity has more than 4 million tons. The presence of some enterprises operating rate of serious shortage.

China Plastics Processing Industry Association, Liao opening speech, he mentioned in his speech: EPS foam industry for its outstanding development performance attracted the world more and more attention, China’s plastics industry is one of the best . Although this year by the EPS industry overcapacity, and national fire performance of external wall insulation material stringent requirements, future prospects are uncertain, but in general this year, China EPS industry development trend is still gratifying.

SAP end products expected to put into operation this month

1 SAP end products expected to put into operation this month

Superabsorbent (SuperAbsorbentPolymer, referred SAP) by the polymerization of low molecular weight substances by synthesis or by a chemical reaction of polymers made from a moderately crosslinked by a three-dimensional network structure of the new functional polymer materials, molecular chain the strongly hydrophilic group contains a lot, can absorb several times its own weight equal or even thousands of times of water. SAP not only absorbent capacity, water retention capacity is very strong, with a lot of water, have a considerable gel strength, and in a dry environment moisture will slowly release, so called high water retentivity material.

Although many varieties of SAP, but the product is mainly used as a crosslinked polyacrylic acid (salt), acrylic acid ester copolymer and starch – acrylic acid graft polymer, wherein the crosslinked polyacrylic acid (salt) because of its excellent comprehensive class SAP performance, production accounts for more than 80% of world production. SAP is the main application areas of acrylic acid, while the main raw material is acrylic SAP.

Acrylic acid impurities on the quality and stability of SAP has a great influence. Usually esterification stage acrylic compounds containing aldehyde dimer and polymerization inhibitor. Over the production process in the SAP product impurities be color, appearance, have a serious adverse effect on water absorption, while high levels of impurities can lead to skin irritation, not suitable for personal hygiene products. So for the ordinary esterification stage acrylic need to go through further purification to give pure acrylic acid, can be used for the production of SAP. SAP is the acrylic acid and esters industrial chain of high-end products.

SAP because with superior moisture absorption and retention capabilities in industry, agriculture, health care, aspects of daily necessities are widely used, but the most important application is for diapers and hygiene products, which accounted for SAP application of demand 80%. With an aging population while gradually coming era, SAP opened up a broader market.

According to industry data for 2009, SAP’s worldwide production mainly concentrated in Europe and other developed countries and regions, accounting for 77.0% of the global total capacity. By the construction of an SAP enterprise independent production capacity is only 83,000 tons, accounting for Asia (excluding Japan) region capacity ratio was 21.2%, accounting for 4.9 percent global share, but this part of the production capacity is produced by a number of companies, our independently owned SAP capacity of small and scattered, poor international competitiveness. Manufacturer of high-end health supplies are mainly imported using SAP.

Independent research and development satellite petrochemical SAP production process to achieve a product from a small scale, pilot to the development of industrial production, the company became the sole owner of the patent SAP continuous production enterprises. The company will be taken based on the high-end SAP products, in order to point strategy, in 2012 the company’s SAP docking pilot products have stable market.

According to satellite Petrochemical 2013 work plan, the company should ensure that homegrown produce 30,000 tons of SAP project went into operation in mid-2013. We expect that the project will be put into operation this month. At the same time as the company has stabilized docking pilot product market, we believe that the company product technology and quality are at a high level, the company is expected to SAP project put into operation quickly open the market, and gradually complete the import substitution process.

SAP project into production is expected to drive the company’s profit improvement. According to foreign products profitability, SAP product gross margin is expected to reach 40 to 50%. Company 30,000 tons SAP project is finished, we expect net profit of its products t 4,000 yuan in 3000, the company’s contribution to the EPS of 0.25 yuan.

2 projects under construction steadily

Rest of the company’s major projects under construction include acrylic acid and esters projects and propane dehydrogenation project.

Company 320,000 tons of acrylic acid, 300,000 tons acrylate orderly implementation of the project is, we expect that the project will be completed before the end of 2013, thus further enhance the company’s acrylic acid and esters production capacity and performance flexibility.

450,000 tons of propane dehydrogenation (PDH) project is progressing as follows: (1) tank construction. Currently, the tank has been assembled, three 60,000 m3 double refrigerated tanks are speeding assembly; (2) public works. Construction basically completed, will enter the pipeline; (3) production plant is being civil construction; (4) long-cycle all equipment purchases done other procurement matters according to the project schedule requirements orderly; (5) the staff. Technicians and operators basically in place, the operator entered the training phase. We expect that the project will be completed before the end of 2013, Sinopec is expected to become the first satellite built PDH projects listed companies.

The company has 160,000 tons of acrylic acid, 150,000 tons of production capacity acrylate; With the construction projects coming on stream, we expect to end 2013, the company will have 450,000 tons of propylene, 480,000 tons of acrylic acid, 450,000 tons acrylic ester production capacity, the company’s results for the acrylic acid and esters flexibility will be significantly enhanced. Acrylic acid and esters when the company’s annual sales will reach 60 million tons, while the price of acrylic acid and esters rose 1,000 yuan each, the static case, the company will thicken EPS 1.04 yuan. Meanwhile PDH completion of the project will allow the company to form a “propane – propylene – Acrylic – acrylate” the whole industry chain, reduce the company’s production costs, enhance the company’s resistance to price fluctuation risks, while significantly improving the company’s profitability.

3. Earnings forecasts and investment ratings

The company has more projects under construction will be completed and put into operation during the year. SAP will shortly become an important profit growth in the long term performance of the company resilient acrylic acid and esters will further increase, while the company will form a “propane – propylene – Acrylic – acrylate” a complete industrial chain, thereby reducing the procurement of raw materials costs. In addition the company through its own funds and bank loans can solve the investment funds needed, does not require equity financing, equity in the company under the same multi-project production company’s revenue is expected to make profits grow exponentially. We expect the company from 2013 to 2014 EPS were 1.05,1.73 yuan, according to 2014 EPS and 15 times PE, we give the company a target price of 25.95 yuan, maintaining a “buy” rating.