tons of high dispersion silica production line is expected to put into

Ssangyong shares (300 108): results in line Bridesmaid dresses 2012 with expectations, looking forward to the

Tan Zhiyong tanzy2@essence.com.cn

interim results in line with Wedding dresses 2012 expectations: the first half of 2011, the company achieved operating income of 6,002.18 yuan, an increase of 13.48%, mainly due to T-B2 product,Cheap Christian louboutin T150 product, and hydrophobicity matting agent product sales revenue increased due to increase rates were 20.77%, 20.33%, 27.18%, 32.22%; net profit of 1,455.95 million, equivalent to EPS of 0.22 yuan, Christian louboutin boots an increase of 4.45%. In the first half consolidated gross profit margin 45.95%, down more than 7 percentage points over the same period last year, mainly due to the first half of this year, raw material, wedding dresses soda ash, sulfuric acid, in a significant reduction in coal prices, the average unit price of soda ash reporting period 1Cheap Wedding dresses,758.93 yuan, rose by 37%; reporting period, the average unit price of sulfuric acid 782.32 yuan, rose by 4%; production in the reporting period, the average coal price of 429.50 yuan, rose by 22%. Product price iphone increase of about 10%, raw materials prices rose by more than the company's comprehensive product price range.

first half net profit margin of 24.26% Discount christian louboutin overall, compared with same period last year only 2 percentage points, dropping by less than the decline in gross margin christian louboutin was mainly due to cost of sales rate of 12.93 percent last year to this year's 9.82%, a decrease of 3 percentage points.
slightly lower than expected Replica watches production schedule

project: raise investment projects Tonghua 20,000 tons of high dispersion silica production line is expected to put into operation on August 26, in line with expectations; raised funds over Rolex replica the project Wanzai produce 30,000 tons of precipitated carbon the black line was originally expected to reach capacity in October,Fake watches  but this year Wanzai in wetter areas, affecting the progress of the project, the project is put into the end of November. Raise investment projects and raised funds over the project is put into the company production Fake rolex capacity from 1.6 tons to 66,000 tons, will greatly enhance the company's profitability.

look forward to the green tire applications Ugg boots on sale breakthrough: the face of November 1, 2012 European tire fuel efficiency rating label on the pressure of the Bill will be formally implemented, the domestic tire companies have launched green tires, and Uggs tire reinforcement materials, production of traditional black stock company, Lone Star Chemical has announced the first half of this year bridesmaid dresseswere intended to enter the white carbon black production, we can see the future of the reinforcement material in tires, silica gradual replacement of carbon black is a general trend, we believe that in christian louboutin red bottoms the white carbon black areas of strong research and development into the future for the company supplier of tire lay a solid foundation. Company is currently working with the relevant tire product fake rado certification and look forward to open the company's future in the tire market situation.

lowered profit forecasts, investment rating to maintain buy-A: Given the company raised funds over the progress of Replica rolexes projects in production than we had forecast earnings assumption, we have reduced the company's earnings forecast, respectively, lower 2011,2012 years EPS20%, 6% to 0.57 yuan, 1.38 yuan. We are still fake iwc watches optimistic about the green tire in the field of great potential,