Plastic Cup (bowl) Packing Machine
What machines can we make for the automatic packaging of plastic cups?
1)The laser counter or mechanical counter to count the plastic cups automatically.
2)The plastic cup bagging machine can pack single row and twin packs.
3)The case loader can open the carton, stick the carton bottom and send the carton into the case machine.
4)The plastic cup case machine can insert the sleeves of cups into the carton automatically.
5)The carton packing machine can stick the tape to seal the carton automatically.
6)The carton stacker can stack the cartons on the pallet automatically.
Plastic Cup (bowl) Packing Machine,Plastic Cup Packing Machine,Plastic Cup Bagging Machine,Plastic Cup Counter Ruian Tiancheng Packing Machinery Co., Ltd. , https://www.tinchinmachine.com
January-November 2008 engine sales. The current domestic economic decline has exceeded our expectations. We believe that demand for heavy trucks has shrunk significantly in October and November, mainly due to the significant slowdown in domestic economic growth and the implementation of Euro III. According to statistics from the "China's auto industry production and sales news," November sales of heavy-duty trucks and semi-trailer vehicles fell by 39% and 71% respectively year-on-year. Therefore, we expect the Weifang Diesel engine sales volume in the fourth quarter of this year will drop from our previous forecast of 55,000 units to about 36,500 units. Overall, we expect diesel engine sales of Weichai Power in 2008 to enter the stock market will increase by 24% year-on-year to approximately 302,500 units.
January-November 2008 Truck Sales. In addition, according to the statistics of the "China's auto industry production and sales news," 51% of Shaanxi Weichai's shares held by Weichai in January-November 2008 sales of heavy truck reached 63,257 units, an increase of 16%, while the total domestic heavy trucks over the same period Sales increased by 15% year-on-year.
The outlook for 2009. Looking into the future, we must emphasize that there are many uncertainties in the prospects for heavy truck sales in the context of a significant slowdown in domestic economic growth. Heavy trucks are highly cyclical industries, so their sales growth is more volatile than GDP growth. However, we expect that the economic stimulus package will boost demand in the heavy truck industry in the second half of 2009. We expect Weifang Diesel Engine sales to grow by 3% to 310,600 units in 2009.
Valuation. In order to reflect the lower-than-expected truck sales, we cut our earnings forecasts for 2008 and 2009 by 7% and 9%, respectively. A shares are trading at 8.5x FY09 PER and 1.7x FY09 PBR, while H shares are trading at 5.9x FY09 PER and 1.2x PBR. We think the valuation is not expensive. However, based on the 09 P/E ratios of 9 times and 6 times for A shares and H shares, we will lower the A share target price from Rmb25.30 to Rmb20.74, and the H share target price will be lowered from HK$22.9 to HK$15.6. We downgrade both Weichai A shares and H shares from buy to hold.
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