Rizhao Port announced that in order to reduce related party transactions, completely solve the potential horizontal competition problems and speed up the overall listing of the port's main business, Rizhao Port Group, the controlling shareholder of the company, decided to strive to inject the 4# and 9# berths and related assets in Lanshan Port Area into the company in a reasonable way in the first half of 201/kloc-0. In the secondary market, the stock opened higher and went higher.

Investment highlights:

1, iron ore and coal are the two main goods in Rizhao Port, accounting for 65% and 15% respectively. In the first half of 20 10, the company's iron ore throughput was 624 17000 tons, up 23% year-on-year; The throughput of coal and its products14106,000 tons, up 2 1% year-on-year. The throughput of foreign trade imported iron ore continues to rank 1 in the coastal ports of China, and the coal import continues to rank 1 in the northern ports.

2. In addition to improving the performance of existing berths, Wansheng Company plans to invest 570 million yuan to build a general berth with berthing capacity of 70,000 tons and 654.38+10,000 tons respectively (calculated by berthing capacity150,000 tons), which will increase the throughput by 4.5 million tons after completion.

3. The overall listing of Rizhao Port Group is a clear goal of the company's development. After the completion of the company's additional issuance project this year, the overall listing of the group is expected to be gradually put on the agenda. In addition, the construction of coal transportation pipeline in central and southern Shanxi and Shandong Iron and Steel Boutique Base also provided a solid guarantee for the company's future business development.

The company is a first-class ore port in China and one of the 20 major hub ports along the coast, with a vast hinterland. Located in the bridgehead of the new Eurasia, the planning and construction leader of the port-facing industrial belt in southern Shandong. In addition, the injection of group assets in batches is worth looking forward to. It is estimated that the company's earnings per share in 20 10-20 12 will be 0.3 1 yuan, 0.40 yuan and 0.55 yuan respectively. In the secondary market, the stock increased in volume on Monday, regaining its 5-day moving average. The valuation of the stock is near the market average, and the chips are barely locked in a stable position, and the trading volume can maintain an active trend. Short-term adjustment is relatively sufficient, and many technical indicators show an accelerated upward trend, so investors can actively pay attention to bargain hunting. It is recommended to operate in the band between 4 and 5.5 yuan.