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local government financing platform specification work is in full swing, uncertainty about future debt issuance conditions. Ministry of Finance, Development and Reform Commission, the central bank, China Banking Regulatory Commission recently issued a \have been verified. \

\hospitals, parks, squares, party and government agencies and funding institutions such as office buildings, and municipal roads, water conservancy facilities, pipeline facilities, and non-pay business income can not bring the infrastructure and other public assets, not as a capital injection of funding platform for the company.

As for the concern of local government financing platform for corporate bonds issue, the relevant channel on August 18 said, the departments have developed the issue of the future city investment and debt programs.

program provides operating income mainly from government projects or government subsidies repurchase, and the proportion of total business income of more than 70% of the local investment and financing platform for issuing corporate bonds, in addition to existing laws and regulations to meet the corporate bond release conditions, must also approve the bond issue to provide the level of government agency debt balance and the integrity of integrated financial information. Platform for more than 70% of company revenue comes from local government, other companies may not issue bonds to provide security.

program specifically mentioned, for the bond funds for energy conservation, environmental protection, ecological control, affordable housing construction, urban rail transit construction, development and construction in Xinjiang and Tibet, a major natural disaster reconstruction projects in areas such as priority in the approval under the same conditions.

◆ 【Commerce: Import stimulus, the fastest in September announced】

held in 17 regular briefing, the Ministry of Commerce spokesman Yao Jian release that look from the current , the recovery in exports and imports of recovery in this period of time there does not match the phenomenon, we should further promote the development of imports, the promotion of international trade, balance of payments. Ministry of Commerce sources: imports stimulus is more close co-ordination of ministries, the earliest published in September.

National Trade and Economic Cooperation Institute of the Ministry of Commerce president, said Huo Jianguo, then, export and import growth will continue to decline, but July has been to the critical, the difference between the two drop rate will be reduced. He believes that the export growth rate dropped to 25% to 20% of imports, a difference of 5 percentage points among ideal.

Academy of International Trade and Economic Cooperation Research Center Liang Yanfen WTO that the country in order to balance the trade surplus, the deficit problem, to avoid pressure on RMB exchange rate will definitely put the policy regulating the trade balance. The Chinese Vice Minister of Commerce Jiang Yaoping said last week, in the second half may also reduce some of the high energy consumption and high pollution industry, export tax rebate, but the adjustment is very limited.

◆ 【890 companies to disclose the average net income by Liu Cheng Chung PO】

corporate data, according to the Shenzhen Securities Information Center statistics show that as of August 18, 2010, has nearly 900 listed companies announced the 2010 mid-year report, the total number of listed companies accounted for Nearly half of the average net profit growth over the same period in 2009 close to Liu Cheng.

As of August 18, a total of 890 listed companies published in 2010 semiannual reports. Net profit growth of which there are 697 listed companies, accounting for 78.31%, net profit year on year increase of more than 50% of listed companies reached 128, in addition to 85 companies achieve profitability.

data show that 890 companies an average operating income of 1.686 billion yuan, up 35.89 percent; the average net profit of 155 million yuan, up 58.38 percent; the average earnings per share of 0.2303 yuan.

◆ 【global stock markets mixed the Dow rose】

Wednesday, U.S. stocks close up, led by consumer stocks rose, Target Corp posted sales expected to temporarily ease of consumption who demand concerns. According to preliminary closing data, the Dow Jones industrial average rose 9.69 points, or 0.09%, closing at 10,415.54 points; Standard & Poor's 500 Index was up 1.62 points, or 0.15%, to 1094.16 points; Nasdaq index rose 6.26 points, or 0.28%, to 2215.70 points.

European stock markets closed at key technical resistance under the lower oil prices because oil stocks, BHP Billiton to Potash lower after a hostile takeover offer. Pan-European FTSEurofirst 300 index of blue chip stocks index down 0.4%, to 1052.45 points. The three major stock markets in Europe, the UK FTSE 100 index ended down 0.89%, to 5302.87 points, the German DAX stock market index ended down 0.32%, to 6186.31 points; the French CAC-40 index fell 0.41%, to 3647.93 points. Asia-Pacific stocks ended mixed

. Tokyo, Japan's Nikkei 225 index closed at 9240.54 points, up 78.86 points, or 0.88%. South Korea's Seoul Composite Index closed at 1761.99 points, up 6.96 points, or 0.40%. Australia's S & P 200 index closed at 4474.90 points, down 2.10 points, or 0.05%. Taiwan's weighted index closed at 7924.10 points, down 6.99 points, or 0.09%. investment strategy

◆ 【【】

◆ CICC: Market trends clearly show differentiation】

CICC research report released Wednesday said that with the Shanghai Composite Index once again approaching 2700 points mark, the market clearly show differentiation trends in the performance of small cap stocks beautiful theme, but the policy to see no obvious signs of relaxation makes the blue chip recovery in the doldrums, it also makes the current uncertainty facing the broader market trend. Judging from the disk, although the real estate section has been restored because of the recent turnover recorded a significant rise, but even Baosteel, Wuhan Iron and Steel and Anshan Iron and Steel and other large steel production in September raised the prices, also failed to stimulate investment goods plate outperform City, indicating the focus of investors is still in the periodic section. Some subject matter is still being touted stocks, including triple play, re-integration concept stock active.

periodic plate because there are still fundamental uncertainties, which failed to attract large inflows of funds, the index also rose sharply so difficult, but the market seems to be still in the \atmosphere, which is still optimistic mood in the market situation, driven by the news side as well as some growth stocks with high certainty the market is still expected to be sought after, this pattern will remain short-term, bottom-up individual stock selection is even more critical . Meanwhile, since the current round of rally in small cap index rose magnitude better than blue chips, China Securities 500 Index has returned to March levels, while the China Securities 100 Index has just returned to the level of the end of May, some in small cap stocks and even hit high, because for some time still can not see clear signs the economy is bottoming out, so systematic risk is still some small cap stocks overvalued in need of special attention to the risk of callbacks.

information surface, the Ministry of Industry and Energy announced the second batch of cars to promote directory, a total of 62 products into the catalog, energy subsidies to support industry to promote sales of products, subsidize vehicle is expected to be faster than the industry average growth. From looking at the impact on listed companies, Chang'an Automobile, FAW-rich dimension, Shanghai Auto, China Automobile and domain shares will benefit from the hippocampus. In addition, Potash rejected BHP Billiton takeover offer news, shares rose K, Salt Lake Potash and Guannonggufen the domestic or the existence of transactional opportunities.

◆ 【Galaxy Securities: market outlook is expected to maintain the broader market volatility trend】

Galaxy Securities, said the study released Wednesday, the Commerce Department said the trade surplus, based on the existing index structure and the main analysis, the next few months, export growth will continue to fall. July imports of lower than expected, some of the resources the amount of decline in value of imports was up there the situation, reflecting domestic demand began to drop. Policy on export trade, the State Council and relevant authorities will continue to maintain a stable foreign trade policy. Tape the two cities within a narrow range Tuesday, stocks remain active degree of good, stocks are still reflected in higher institutions Awkwardness pulled up, short-term speculation themes, oversold bounce characteristics, is expected to maintain the shock broader market trend market outlook.

◆ 【Industrial Securities: a good time to actively grasp the rebound】

Industrial Securities research report released Wednesday said the policy shift is not in the traditional sense of the stimuli, but an alternative stimulus, which showed more regional policy, restructuring policy. First, Wen Jiabao hosted the 17th plenary meeting of the Leading Group for the second time, to listen to Development and Reform Commission on the revitalization of northeast old industrial bases in the next phase of progress and focus of the report, reviewed and approved in principle the \and economies in transition planning \Second, Guangdong Province, recently introduced \items. In addition to these regional hot spots, the proposed Guanzhu Shenzhen Ben Degu's opportunities in a catalyst from 26 August 30 anniversary of the Shenzhen Special Administrative Region may 在 August Zhengshi State Department approved \

◆ 【Founder Securities: market turbulence eventually up】

Founder Securities research report released Wednesday said that the market price has quietly opened the second round, the final outcome of directional selection may be further up. Markets do not like the last rose as Bi Kong-style, because the main body substantially accumulation phase is over, and the profit drive has also appeared, but in the process of shocks up stocks will be very exciting. Short-term market position will challenge the 2686 point pressure, whether a firm decision in the 2686 point short-term trend is up above the break or continue in the \No matter what trends are eventually shock upstream.

◆ 【Tokai Securities: shock obviously about to break through before gaining high】

Tokai Securities research report released Wednesday said the recent disk, the market has been breaking up the many signals. Early in the doldrums, especially the performance of large cap heavyweight, began to gradually active signs. In fact, the recent strength of the profit share to stimulate the broader market over many factors, such as steel prices rise, BDI index soared so, the disk group in the central enterprises prefix stocks started. Once the heavyweight full swing, then break up any suspense early high point.

operating strategy, stock index rose heavy volume, the proposed patient holding bargain hunting, focusing on the pharmaceutical industry and Guangxi, Guangdong and other regional revitalization plate.

◆ 【letter dated securities: the venue to do more funds will significantly】

letter dated securities research report released Wednesday said that the current macro-side information is relatively flat, more concentrated in the regional market focus or structural policy changes brought about by individual investment opportunities. Following the news of the promotion of development in Guangxi, yesterday Premier Wen Jiabao chaired a State Council revitalizing old industrial bases in northeast China and other leading group for the second meeting, the meeting emphasized that efforts to implement the various policies and measures to speed up the formation of new economic growth pole. Northeast port traffic, equipment manufacturing, medicine, and the performance of resource stocks there is the opportunity.

Shenzhen Component Index, small board index rebounded straight break a new high, that the venue will still significantly more money to do the structural opportunity to highlight. Recommendations focus on new energy, energy conservation, as well as a large variety of investment opportunities in consumer, operations can be 5,6 into position around the band.

◆ 【industry rating】

◆ 【Guotai Junan: Metallurgical coal is relatively optimistic about the performance】

Guotai Junan to the latest research reported last week, Steam: the subject of domestic row hot weather, Hang Hau prices stabilized, Qinhuangdao price change, inventory power plants along the river continued to fall 8%, inventory days decreased from 1 to 18 days, the relative is still relatively abundant; last week, Australian thermal coal prices fell 5.36%, but the sea fee prices have soared, Western Australia the two major coal transport ship to Japan were up 5% and 51% improvement in freight demand or speculation is true remains to be seen to promote, maintain Guotai Junan season fell slightly after the point of view of domestic thermal coal remain unchanged;

coking coal, the construction steel prices up slightly last week, stocks fell slightly, plates downturn, steel prices rise the market has been delivered to the coke, coke prices rebounded slightly by 1%, but Lin Liu, Xiaoyi coke, etc. Hang Hau prices are still falling coal injection into the greatest highlight of the week up 3% -5% in September into the steel market during peak demand, coupled with backward elimination capacity, the probability of large steel prices up, coke production is used by downstream rate of recovery and eliminate backward production capacity two-way influence, will remain bottomed state.

the performance of the coal industry last week Underperform nearly 1 percentage point, line judge. Real Estate regulation does not relax out with high energy intensity down, demand-pull type of coal is expected to trend higher is still hard to form and maintain a neutral rating on the industry. Into the demand for steam coal in August after the off-season, the price adjustment is facing pressure to lower into the demand for metallurgical coal season is still relatively optimistic about the performance of metallurgical coal.

◆ 【Guotai Junan: Center Daily News drives market valuation of ocean plate rebound】

Guotai Junan to the latest research reported in 2010, the global economic recovery driven freight shipping industry rebound. In the first half, BDI, Qinhuangdao - Shanghai coastal coal freight, Containerized Freight Index, crude oil round TD3 line TCE mean, respectively, 3170.6 points, 52.2 yuan / ton, 1112 points, $ 49,517 / day, respectively, year on year increase of 50.5%, 70.5 %, 32.4%, 72%, which means the second quarter alone, the chain grew 9.3%, 15.9%, 3.7% -1.6%.

in the industry out of the shadows against the background of sharp rebound in freight rates in 2010, Ocean has A shares index fell 20%, underperforming the broader market, and the current book value is less than 2 times the absolute plate, at a historic low level, the relative book value of 0.74, just above the minimum value of 16.5% (minimum relative book value of 0.64, set in December 2008). The same period, overseas markets, in addition to bulk stocks underperformed the market, the oil tanker, Cargo, integrated shipping stocks outperform the market fundamental. Recently China Ocean, China Shipping losses interim results announcement, COSCO Shipping, China Shipping Development interim results announcement for more than 50% year on year growth, beautiful mid-year report data, and finally driven A rebound in stock valuations appear maritime industry. August 16, shipping stocks EADS were mixed, with China COSCO, China Shipping, COSCO Shipping daily limit.

shipping demand will not repeat the 2009 depression, sub-sector capacity will be allocated to more gradually slow down after 2011, so the industry supply and demand that the worst is over. But the second half of the domestic real estate regulation will affect the BDI, 2011 put large capacity tankers will inhibit the recovery tanker freight rates, export growth down will affect the demand for container shipping, the trend of the upturn is still uncertain.

◆ 【BOC: second and third tier cities in warmer driven rebound】

BOC transactions to the latest research reported last week (August 9 -8 16) 17 major City total area of 2,124,000 square meters of transactions, the chain rose 4.2%, which appeared in 10 cities up the chain, accounting for 58.8%. Volume rebound again, and differentiation of first-tier cities and third tier cities obvious than last week, the average annual amount of energy and high fell 8.3% and 55.0%. Average transaction price index rose, led the gainers week in Beijing and Xiamen. On maintaining a neutral rating, recommended investors to tap opportunities band operation.

◆ 【CITIC Securities: bottom-up selection of the pharmaceutical industry stocks】

CITIC Securities to the latest research reported in July, following the broader market rebounded plate medicine, but medicine is still plate underperformed (9% vs medical tape 12%); in August in the first half strong consumer segment, pharmaceutical sector performance also exceeds the broader market (10% vs2%). After this rally, medicine plate returned to the valuation of 33 times 2010, 2011, Dynamic PE of 27 times the level of more than 100% premium to the broader market. Among them, the front-line unit in 2010, the level of 45-50 times PE of about 35-40 times in the second-line stocks. Chinese plate basically reasonable valuation.

trade policies have been promulgated this year mostly concentrated in sales and circulation, which is the pharmaceutical industry in China is highly relevant to current development. The next 4-5 months, is expected to be introduced in the industry policy will focus on sales and circulation, which is very important to include: essential drugs limit the maximum adjustment of retail, national standard distribution of essential medicines, pharmaceutical distribution industry planning and The follow-up series of standards. China's pharmaceutical industry regulation and localization of management bull dilemma remains, making the impact of policies on the industry will be very subtle and complex, policy coordination and implementation will be different degrees of setbacks and reversals and local differences in the situation; therefore recommends that investors policy in the pre-judgment of the sector to remain objective and sober.

CITIC Securities recommended bottom-up, selection of individual stocks. Configuration in the company, focusing on recommended combinations include: (1)-than-expected annual results are expected and there are more Cuihua Ji: The days of disability force, Shanghai Traditional Chinese Medicine, Hong Chi Pharmaceutical; (2) product price increase rate than the market expected: Zhejiang Medicine, new and cost; (3) attractive valuation: health dollars, Double-Crane Pharmaceutical, CR 39, Kang U.S. medicine, in the constant group.

◆ 【Everbright Securities: \of an academic thesis describes a NDM-1 enzyme with Gram-negative intestinal bacteria. The paper is to discuss the susceptibility of the bacteria test and a new mechanism of drug resistance, but did not find conclusive evidence that such bacteria species around the kinship. The article reported by the media immediately after the panic turned into a super bacteria. Some domestic Chinese stocks appeared related to several days of rally.

Everbright Securities that, at present, the market reaction to this incident is the event type hype. First of all, this report was more academic research papers, and a flow of transmission of the virus not the same as (affecting wide spread fast). Second, the demand for such products will not significantly increase, but also mostly generic drugs, rather than the \In addition, the incident has once again pushed to the Chinese stock valuations high, in 2010 the absolute valuation 32.3xpe (earnings growth of 30%), the broader market, premium 100% (TTM, median 70%), the basic return to pre-crash location, pharmaceutical stock valuation increase of the space is limited (35xpe or ceiling). At the same time high stock valuations also make medical defense capabilities greatly reduced. From a fundamental perspective, drug prices, and against the policy of not clearing commercial bribery, influence is hard to determine the extent, continued earnings growth greater uncertainty, so to judge this round of Everbright Securities Chinese shares rebound coming to an end, the proposed \

◆ 【Ping An Securities: charging station or prior to the outbreak of new energy vehicle market】

Ping An Securities to the latest research reported in support of the new energy policy is expected in China 2010-2015 average annual demand for new energy vehicles will reach 352,000 by 2015 demand will reach 977,000, an average annual growth rate of 216%. As the infrastructure of new energy vehicles, Electric Vehicle Charging Station is expected to precede the outbreak of new energy vehicle market.

comprehensive consideration of the country by 2015, building 1,700 net charging stations in the planning and development of new energy vehicles, the charging station the next five years China's average annual investment in construction is expected to reach 3.0 billion, an average annual growth rate of 50% more than 2015 charging station construction investment in China is expected to reach 4.8 billion.

announced the beginning of the national grid will be built this year, 75 cradle power station, China Southern Power Grid will be built this year is that more than 80 cradle station. National Grid's current charging station construction program on schedule the implementation of the basic, which strengthened the bullish trend in the late charging station market confidence.

a complete charging station, (...) , including direct charging equipment, distribution equipment, management of auxiliary equipment in three parts. Among them, the direct charging device is the core of the charging station, charging stations generally account for about 50% of the cost. Now in the field of listed companies, including Otter fast, scientific land electronics, Siyuan Electric, XJ Electric, NARI so. Shenzhen, which is fast Ott first two charging equipment providers, mastered the high-current fast charging technology, the smaller income, the most promising development in the charging station to get the tide of the rapid development of the proposed long-term concern investors .

◆ 【Ping An Securities: coal stock market outlook will be oversold bounce】

Ping An Securities to the latest research reported this week, industry data from the point of view, the coal market continued weak balance local area coal prices continue to decline, the downstream sector coal stocks remain at high levels. In addition, the bottom of the coastal coal freight pick-up BDI index rose 21.6% last week.

Ping An Securities to judge: the next month until early September, the industry will enter a process to inventory. Thermal coal prices for some time will continue to weaken, mainly the one hand, the downstream industry, living in high coal inventories; the other hand, the weakening of the downstream sector coal demand, such as thermal power generation capacity than the lower ring for two consecutive months. Future coal prices will not be much room for adjustment to the spot Qinhuangdao coal in Shanxi excellent mix (5500 kcal), for example, the future price adjustment cap is about 10%, from 755 yuan / t lower cut of 650 yuan / ton around.

as of August 16, focusing on coal company PE is 16 times, while A shares of the overall PE of 16.2 times, coal stock valuations remain a comparative advantage. Follow-up to trend for the coal sector, Ping An Securities maintains that the views of the coal stocks oversold bounce, bounce round a maximum of 18 times the valuation of PE. Rating maintenance \

◆ 【Soochow Securities: Automobile Plate of New Energy and restructuring】

Soochow Securities to the latest research reported in August 2 weeks before the plates of motor vehicles and parts through July After the adjustment phase into the weak rebound, although the first 7 months of sales data is still relatively optimistic, but after the third quarter, the performance of the industry into the off-season may be the biggest test of the industry, in the current inventory levels stay high above, once the sale of a sudden slowed the performance of listed companies may lead to a greater impact, so until the fourth quarter, still cautious attitude. Expected sales to continue the chain down and gradually realized by mid-year report expected under these circumstances, automobile and parts industry in the current round of market will be coming to an end mid-year report, for the pre-earnings stocks can be more substantial band of operation, and for pre- shocks in the stock market in stocks than the firm, such as Weichai Power, universal money tide, Chinese domain car, Yutong Bus can continue to hold. New Energy and restructuring is still the market focus, such as ocean motor units, Ningbo Yunsheng, FAW Car and so on, if the share price correction may be actively involved in deep sites.

◆ 【Guoxin Securities: high-quality semi-annual report to promote the retail industry as a whole face of rising】

Guoxin Securities to the latest study reported that 1-July community to achieve zero total 8.4922 trillion yuan, up 18.2%. July total of 1.2253 trillion social zero, up 17.9% year on year growth accelerated by 2.7%, chain 0.4%. Guoxin Securities that the chain of data reduction is mainly caused due to traditional off-season consumption.

7-8 月 companies announced its high-quality semi-annual report, the first half of the company's high growth retail driven by strong performance of the industry as a whole up. Overall, retail sales performance in July was higher than previous expectations. On the second half is expected to remain more optimistic, the main bullish Midwest, Northeast and other less developed areas, the low-end consumer; the eastern region are optimistic about the wealth effect caused by the high-end department store and high-end product sales.

business unit through the second quarter, slightly adjusted, the current valuation is reasonable. January-July the retail industry as a whole rose by about 15% higher than the CSI 300. One department store industry 21.9%, 5.6% franchised supermarkets reached 39.3%. Industries where the economy continued, growth is the main line of investment. Investment selection principles: a stable niche market, the new industry, new regional solid expansion, and management capabilities and business model will achieve \companies, which must be the industry's best companies, focusing on ZTE business, Wangfujing, Friends of the A shares of agricultural products; 2) to the new integrated business body, the high-end department stores and appliance chains, etc. Yetai expansion of the company, focusing on configuration Inc. : Suning Appliance, Tongcheng Holding, E Wushang; 3) the concept of luxury goods companies: FIYTA, tidal Acer, building stock and so on.

◆ 【Industrial Securities: chip production capacity next year, but still optimistic about the future development of excess】

Industrial Securities, to the latest research reported in 2011 the global LED production capacity surplus, but still optimistic about the future of industry development. Industrial Securities, believes that an oversupply in the context of LED chips, LED chip prices to fall dramatically, the integration within the industry will accelerate. Even more optimistic about the industry chain downstream, the proposed rapid growth of selected downstream application, is expected to stabilize, the customer good corporate reputation. Industrial Securities is bullish on the future of the general lighting market, LED lights, as the third generation light source, a very bright future, will drive the LED industry, the second wave of growth wave. In addition, also sees the integration of upstream and downstream companies, ability to withstand greater their risk, such as Cree, Nichia and Samsung. LED industry to \

◆ 【Country Gold Securities: to configure the real estate leader】

States gold stock to the latest research reported in the HS media reported on the proposed introduction of regulatory policies to suspend the news. In the Society is concerned that further regulation and control logic will affect developers expected, on and after 2011 the supply pressure. Golden State Securities that such worries are unnecessary, although new construction July data down the chain there, but still significantly increased by 66% year on year, and the construction area are also at record highs, before the construction area of more than seven months in 2009 the whole , due to the inertia of the construction, real estate investment in the first quarter of next year, will not slump. However, this matter can see the implementation of real estate policy of interference factors is very large, often repeated if the market expected, the smooth adjustment of the industry is also more difficult to complete in the near future.

valuation of property shares through early restoration to begin looking into the sales division and the company's stage of horizontal low valuation, recommends marketing strategies to maintain a positive and attractive valuation of the company line, preferred Vanke, Poly Real Estate , because the company develops and markets a better rhythm control, abundant resources now available for sale, to avoid future supply of the peak, you can return as soon as possible the performance of funds and locked.

◆ 【Ping An Securities: lithium-ion battery market for the future high-speed growth】

Ping An Securities to the latest research reported benefit the rapid development of electric vehicles, the future market for lithium-ion battery growth. Estimated 2010-2018 global market for lithium-ion battery compound annual growth rate of 54.2%, and in 2018 reached 16 billion U.S. dollars.

power lithium-ion battery began in a small lithium-ion batteries, lithium-ion battery end of the giant monopoly competition, little changed. Manufacturers reduce costs through economies of scale, lithium ion battery car prices will gradually decline, to clear the way large-scale application of electric vehicles. The long term, lithium iron phosphate is the most promising cathode material battery. Lithium power requirements of various cathode materials rising gradually losing advantages of lithium cobalt oxide, the future will form iron phosphate, lithium manganese oxide and the coexistence of diverse materials.

electrolyte and the world advanced level in China close to has basically self-sufficient in the future pulling power lithium on electrolyte apparent, but the larger capacity expansion within the industry, profits or weakened. With lithium hexafluorophosphate electrolyte membrane technology and the high threshold, our country is a breakthrough period. Hexafluorophosphate Lithium Fluoride most progress Fosugufen is capable of producing low-end capacity of the membrane.

on maintaining the \Concerned about the three companies: R & D intensity of the cathode materials, it is expected to break monopoly of foreign technology companies as well as a strong electrolyte enterprise market position. To Fosugufen \

◆ 【China Yuan Securities: appliances listed companies for reporting the results will fall】

year per country reported the securities to the latest research, production, household appliances to the countryside, home appliance export data have shown operation of enterprises in the first half year improved substantially, the securities of state that the first half of the Household Appliance substantial growth year on year revenue trends have been identified. But in the first half, raw material prices rise to varying degrees, from the published several listed companies, reported figures of view, different degrees of decline in gross margins, profit growth over the previous year is less than revenue growth, cost pressures highlighted. Guoyuan Securities expects home appliance market in 2010 year on year decline in reporting the results companies will become inevitable, proposes a focus on strong cost control leading companies, such as Gree, Midea, Haier.

◆ 【love construction securities: August after the wine consumption is gradually entering the peak season】

love built to the latest research reported securities, wine production and consumption has obvious seasonal characteristics of winter Wine production and consumption peak in summer, the wine production and consumption of the bottom phase. After entering in August each year, the wine business scale and profitability of listed companies the level of monthly ring will appear more significant than the rise.

with residents, business, raising the level of government spending, high-end wines to the inevitable trend of development. Wine industry by the Bohai Sea region to Xinjiang, Ningxia and Gansu regions shift is the trend. A large number of foreign wine imports to China, the formation of the domestic wine competition.

to the wine industry, \Changyu A resident in the wine industry leading position, ST along the Tianshan Mountains in Xinjiang, China and Portugal with 12 mu grape planting base, total annual processing capacity of 100,000 tons of grape around, and have product superiority, additional funding for out of 2 billion yuan Financial Distress and breakthrough marketing bottlenecks, there is great potential for development; through the Portuguese stock after the reorganization of major assets, operating income increased by nearly 2 times, net profit growth of more than 10 times and has absolute superiority of Yunnan wine market share position and expand in the vicinity market facilities, more space for future growth. Stock Ratings

◆ 【【】

◆ CICC: Siyuan Electric cut annual business objectives (recommended)】

stocks in gold companies-to-date research reports, Siyuan Electric revenue 730 million yuan in the first half, up 0.64%, after deducting non-recurring gains and losses net profit 110 million yuan, up 13.08%, corresponding to earnings per share were 0.24 yuan, and the company's July 2 announcement Announcements amended agreement. However, management substantially lower annual operating plan, estimated 1.8 billion annual revenue in 2010, after deducting non-recurring net profit of 220 million yuan profit and loss. Lower performance expectations for 2010-2011, 0.55 and 0.74 yuan, to recommend ratings.

◆ 【CICC: Winbond with high growth potential in the pharmaceutical (recommended)】

in gold stocks has released the latest report said the proposed mergers in the pharmaceutical Winbond Beijing Ying Tai Jia, science and technology Co., Ltd. (hereinafter referred to Ying Tai), Ying Tai is a domestic pesticide industry in the development, production pattern, distribution channels, etc. The company has leading edge, unique profit model, combined with high growth potential. Ying Tai pesticide business is expected 10 to 12 years of income, net profit compound growth rate of 26.5%, respectively, 45%, a slight increase of the existing medical services, assuming completion of the merger, the current stock price corresponds to 2010 were 12 years PE 42.5x, 32.2x, 24.0 x. Chinese assets in accordance with 30 times in 11 years, (...) , 45 times the assets of pesticides to six month price target of 66 yuan, compared with 24% of the current share price upside. Concern for the first time, \

◆ 【CICC: China Southern Airlines in the second half profit to record levels (recommended)】

in the gold stocks of the company released the latest report, China Southern Airlines made the first half 2010 operating income 3.468 billion yuan, up 39.4% year on year. Operating costs reached 2.894 billion yuan, up 30.0% year on year. Final net profit of 2.076 billion yuan, 0.26 yuan a share, a substantial increase of 5,362.2 percent year on year. Passenger turnover increased by 21.6%; passenger yields rose 11.5% year on year; oil prices lead to rising fuel costs up by 63.4%. Boom in the high degree of industry support, with three quarters of the domestic market as well as the traditional peak season in the second half of the Asian Games and the arrival of the Canton Fair held in the domestic market, China Southern is expected to have better operating performance. .
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stuv156  [Aug 28, 2010 at 02:46 AM]
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Garmin on Wednesday issued a worldwide recall of 1.25 million Nuvi GPS units, saying the batteries can overheat and pose a fire hazard.
Roughly 1.25 million units are affected, with 796,000 of those in the U.S. Garmin said there have been 10 cases of the batteries overheating, but no injuries or significant property damage.
Models affected by the recall include the 200W, 250W, and 260W, and 7xx and 7xxT units (where xx is a two-digit number). The third-party supplier of the battery, which Garmin didn't name, will split the cost of replacing the battery packs, the PND maker said. Consumers with a Garmin Nuvi GPS can enter its serial number on a special site Garmin has set up to see if they're impacted.
In the U.S., customers can also call 1-866-957-1981 for more information.
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90后女孩背着患病母亲上大学 边工边读照料母亲
她出身贫寒,母亲长年患病,父亲在外打工。她背着患病的母亲去上大学,一边学习,一边打工挣钱,一边照料母亲。生活的苦难赋予她异于常人的乐观与坚韧。这个平凡的90后女孩,叫石秀琴,安徽师范大学物理与电子信息学院学生。

  在安徽师范大学教工宿舍区的一角,石秀琴正在晾晒刚刚洗好的床单,额头上虽挂满汗珠,脸上却飞扬着阳光般的笑容。

  “我简单而平凡,只是怀着一颗感恩的心去做我该做的事。”这是石秀琴的座右铭,也是她一直乐观面对生活的精神支柱。

  穷人孩子早担当
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  她从小就知道帮奶奶做家务、下地干活、照顾弟弟

  “妈妈在我不到3岁时就患上精神病,一直都没好。母亲病后,父亲常年在外打工不回家,对我们母女俩不管不问,家庭的重担落在年迈的奶奶身上。”石秀琴说。

  石秀琴出生在安徽安庆一个贫寒家庭,从小就知道照顾自己,不让家人操心,还帮助奶奶做家务、下地干活、照顾弟弟。

  因为家庭的贫困,石秀琴曾多次面临辍学。“我一定要上学,那才有更多的希望。”石秀琴坚信只有读书才能改变命运。

  “为了省掉书本费,我就用别人的旧课本;为了节约餐费,我就在学校食堂打工;为了省去住宿费,我借住在同学家里。”一路走来的点点滴滴,石秀琴犹历历在目。她告诉记者,虽然当年考上了重点高中,可为了节省学费,照顾家里,她毅然选择了一所离家近的普通高中。2007年,石秀琴以优异的成绩考上了安徽师范大学物理系。

  带着对家庭的挂念,怀着对未来的憧憬,石秀琴来到了安徽师范大学,开始了大学生活。然而,2008年,照顾妈妈的奶奶去世了,家里仅有的两间平房也意外被烧,妈妈不仅没了人照顾,连住的地方也没有了。亲戚们的推辞让石秀琴决定:带着妈妈上大学。

  就这样,在学校教工宿舍区一间不到10平方米的小屋里,母女俩开始了新的生活。“终于有了落脚的地方,为了交房租,也为了让妈妈过得好一点,我利用课余时间做兼职、做家教。”每一天,石秀琴都生活在忙碌和奔波中,承受着来自学业和生活的双重压力。

  女儿就是家的天

  “生活教会了我有更重要的事情去做,不管是怎样的困难,总要认真对待”

  为了让妈妈留在家里不乱跑,每天早晨上课前,石秀琴都会“交待”妈妈一上午的任务:这几件衣服洗一下,那些地方打扫一下……

  “我是一个女孩子,我也想躺在父母的怀里撒娇,可生活教会了我有更重要的事情去做,不管是怎样的困难,总要认真对待。”面对压力,石秀琴从来都是笑着面对,没有一丝怨言。

  2009年9月的一天晚上,石秀琴回来后发现妈妈不在家中,她忙跑到妈妈常去的地方寻找,但直到第二天凌晨4点,都没有发现妈妈的踪影。

  “妈妈丢了,我就跟魂儿丢了一样,不知道该怎么办才好。”石秀琴说,此后的40天里,她跑遍了芜湖的大街小巷,拿着妈妈的照片,挨家挨户地询问。国庆假期,她只身一人到南京、杭州等地寻找,可依然没有妈妈的下落。这时候,石秀琴的着急也变成了安徽师范大学不少同学的挂念,班上大部分同学参加了石秀琴的寻母行动。功夫不负有心人,一位记者答应帮她在电视上寻亲。两周以后,妈妈终于找到了!

  “见到妈妈的时候,她又瘦又脏,非常憔悴,我的心里一阵酸。”石秀琴和同学们抱着妈妈,哭成一团。

  满怀希望去生活

  “我想着一家三口团聚的那一天,妈妈也可以享受一下生活”

  “感谢这么多好心人,是他们让我和妈妈重逢。”石秀琴说,“我经常会在睡觉前想着那些帮助过我的人,是他们给了我鼓励,支撑着我一直走下去。”去年元宵节,她为班上100多名同学煮了汤圆,送到各个寝室。

  在石秀琴的家对面,住着一对年迈的夫妻,因为儿子意外去世,老两口无依无靠。石秀琴就常常抽空去看他们,陪他们说说话、聊聊天。

  暑假带补习班的时候,石秀琴给那些交不起学费的孩子免去了学费。“看着那些穷苦的孩子高高兴兴来上学,我真的很满足、很开心。”石秀琴说。

  尽管生活上遇到很多困难,石秀琴依然开朗、乐观,她的脸上永远都有给人信心和力量的笑容。“奶奶曾经告诉我,只要你对生活有热情,生活就会给你带来希望。”石秀琴说。

  “她生活虽然辛苦,但学习一直没有放松,去年还拿到了奖学金。”石秀琴的一位同学告诉记者,“她是班级的生活委员,工作上尽职尽责,在大家的眼中,她是一个善良、阳光、宽容的人。”

  因为弟弟在宁波打工,石秀琴打算带着妈妈去那里实习。“我会努力找到工作,那样的话就有条件给妈妈治病了。我想着一家三口团聚的那一天,妈妈也可以享受一下生活。”石秀琴坚定地说,“这一生,不管去哪里,我都会把妈妈带在身边。”