The 21st century economic coverage on September 23 news on September 18, the department of commercial affairs counter-monopoly bureau convened about “purchases Delve operator to concentrate the counter-monopoly examination general” the close-door meeting, including the General Motors and Delve, as well as the Chery automobile and Chinese Automobile Circulation Association simultaneously appeared at the scene.

In the conference, including Chery and automobile circulation association Chinese representative primarily, expressed regarding has purchased Delve’s worry general, and hopes that the department of commercial affairs put out enough time, investigated this merger and acquisition the impact which probably brought to China; General and Delve considered stemming from the cash flow, then hopes that China allows to pass as soon as possible, lets Delve go out of the chapter 11 bankruptcy protection.

And uses in common internal news from Delve, whether in early October to examine and go out of the chapter 11 bankruptcy protection through the buy-back, is important regarding Delve. On September 21, newspaper reporter sent a telegram to the Delve Asia-Pacific region public affairs and CMO Jiang Jian, the opposite party said that “, because the counter-monopoly examination was being carried on, for did not affect the verification fairness, foreign made the commentary inconveniently.”

Jiang also appealed healthily that invites department of commercial affairs and domestic related organization considered Delve reorganizes the special details, as soon as possible through the counter-monopoly examination, “a healthy Delve, on automobile industry in China, and even whole world’s automobile industry will have the positive effect.”

China’s counter-monopoly examination duty

On August 31, general and Delve formally submitted the counter-monopoly to apply to the Chinese commerce ministry, simultaneously also according to Russia, Mexico, European Union and other various countries’ antimonopoly laws stipulated that to the above countries and regions’ relevant authority, applied for the counter-monopoly examination.

On September 2, the department of commercial affairs to the related line organization, as well as purchased the Chinese Enterprise questionnaire opinion which Delve involved general, and requested on September 4 to submit the opinion, afterward issued on September 16 held the notice of conference.

On January 1, 2008 “Antimonopoly law” which started to implement stipulated according to the Chinese government that is purchased Fang He to purchase the side to be over 400 million Yuan in sales volume in China, as well as both sides were bigger than 10 billion Yuan in whole world’s sales volume in the past, must accept the counter-monopoly investigation, this was general purchases Delve to undergo the Chinese commerce ministry counter-monopoly examination the reason.

After this time is the General Motors in 1999 strips Delve completely, the first decision buy-back Delve. In May, 1999, to comply with the global spare part industry globalization and specialized tide, Delve starts to be separated from general. At present accounts for Delve global business proportion general, already by being separated at the beginning of over 80% drop 30%.

In 2005 American automobile profession landslide, because the welfare and operation cost are excessively high, eventually causes Delve to apply for the chapter 11 bankruptcy protection. Before 2005, the debt freezes, Delve starts vigorously the conformity, simultaneously depends upon the syndicate loan to maintain the cash flow. In 2009 is away from the chapter 11 bankruptcy protection already 4 years, financing and cash flow become very major problem, if does not have the new investment again, Delve by again bankrupt settlement. The General Motors have to get rid to save Delve.

Delve until now was still the General Motors biggest supplier, in 2008 occupied the general quantity purchased about 11.3%, obviously, Delve went bankrupt and is out of stock to the general attack is fatal.

Some analysts analyze the extrapolation, short-term, general cannot look at Delve to give way, is long-term, after does not remove the financial crisis, American automobile output rise and financing brisk trade. When the investor realized when the spare part profession value is underestimated, may sell to Delve general again the new investor.

Delve “kidnapping” general?

Reorganizes Delve’s plan to involve three aspects general: First is Delve’s whole world changes the service, in addition Delve in the four factories in US, this service 100% is used in common takes away, new Delve will have no longer this part of service. At present this service has obtained the authorization of global each relevant country through the counter-monopoly procedure, the US government and European Union separately authorizes this service, the Chinese commerce ministry in August also to authorize on July 13 and on August 13 to pass.

Second is Delve in the bad assets in US, including production suspension factory, equipment and so on. This part of property will keep inside Lao Delve, after this property properly processes, Lao Delve will also die in bed of old age.

The third service is except the above two items outside, remaining all Delve’s services, is reorganizes later “newly Delve”, including Delve in China, Asia, Europe and other place the services, but newspaper each country examines and approves now is this “newly Delve” service , to continue provides the service for the customer is also this “newly Delve”.

According to reconstruction plan, “newly Delve” the master is the creditor organization which the General Motors and two investment companies coordinate, the General Motors will hold over 80% stockholder’s rights, what needs to pay attention, this reorganization plan, has obtained American chapter 11 bankruptcy protection court’s authorization on July 30, certainly the reconstruction plan realized the premise is, through each counter-monopoly examination of country, Delve goes out of the chapter 11 bankruptcy protection.

Has the Delve insiders to tell the reporter, the application country examination is to merging whether violates this country antimonopoly law to carry on the examination. “Theoretically, each country examines and approves the standard should only then, be this merger and acquisition whether forms the monopoly to this profession.”

According to using in common with Delve’s agreement, in future board of directors, will agree with the non-gain absolute superiority general. According to the plan, general and board of creditor appoints two trustees separately, then both sides found two independent directors again separately, finally this 8 individual same places, appoint the ninth independent director together.

Although accounts for 80% stocks general, but does not occupy the majority vote in the board of directors, this is a balanced composition of shareholders. General and Delve signs store clearly stipulated that general does not participate in Delve to manage daily, Delve manages the important decision, if involves to the populaces, BMW, Toyota and other competitors, the board of directors is also authorized to request the general trustee not to participate in the decision-making, to prevent other customer information divulging.

The worry of Chinese Enterprise

The Delve bankruptcy reorganization is experiencing now the most crucial time, Delve’s floating capital at present by “day” computation. “If cannot go out of the chapter 11 bankruptcy protection as soon as possible, to reorganize in Mongolia very big shadow, but Delve’s dominoes, once drops down, will affect will be very big, Chinese Enterprise will not be exceptional.”Participates in the conference participant of department of commercial affairs close-door meeting to say.

The Chinese service has the important strategic sense regarding Delve, last year the Delve global sales were 16 billion dollars, the Chinese service occupy 10%, but its huge potential and American market murky, let Delve gradually change the service center of gravity China.

Delve in 1995 entered China, at present includes Chery, the Great Wall, Beiqi, Huachen and auspicious almost all local auto enterprises is Delve’s customer. Delve product which provides for these plants, quite rich, and key. It is known that in the steering system sells completely after general, the new Delve’s service will involve four big departments, first is the electron and security; The second department is electrical construction; Third is the power unit; Fourth is the Delve heat change.

Investigates after the reporter in every way, as Delve in China’s big customer, worry of Chery mainly has two; first, once becomes the Delve major stockholder general, Delve each aspect quality resource to its incline; Another worry is information divulging. As a result of Delve and general information sharing, will cause with Delve to cooperate other plant core information to be shifted general.

Therefore Delve had evidently underestimated this China examines the value manner, “the American counter-monopoly investigated for two weeks ago to authorize this merger and acquisition, now this examination, in many countries is only a procedure question, we once think that in China was also only a procedure question, moreover examined the standard should be only, whether the merger and acquisition had the monopoly suspicion.”

Is out of stock is also one of matters Chinese Enterprise was worried specially, on September 18 examining committee, Chery took the Chinese automobile enterprise representative, was clear about opposition general buy-back Delve. Several years ago between Delve and Chery once presented excessively similar sudden being out of stock, let latter very be once passive, has to seek for the source of goods.

Chinese Automobile Circulation Association assistant deputy secretary-general Chen Dihong believes that we did not oppose purchases Delve general, but must have enough time to carry on the investigation, suggested the department of commercial affairs specially, the direct and indirect loss which will bring to the Chinese automobile enterprise carries on the investigation to this merger and acquisition.

“Not only that in supply agreement and product price’s stability and so on aspects, Delve should also make the written commitment.”Chen Dihong finally emphasized. (This article originates: The 21st century economic coverage author: He Fang)

The Eastern morning paper on September 23 news yesterday, suffered defeat and fled Shanghai strong wind from afar land parcel Lucheng Group to act crazy in Suzhou, under chairman Song Weiping arrived personally to command on the battlefield, Lucheng took two place kings by 6.1 billion Yuan total prices continually, and accomplished in the Chinese land sale history the unit price highest house land.

On the same day, Lucheng Group by 3.6 billion Yuan and 2.5 billion Yuan one breaths picks the Soviet garden mold to hang (2009) No. 06 land parcel and Soviet garden mold to hang (2009) 07th two lands, enters the Suzhou market successfully. And (2009) No. 06 land floor price reaches as high as 28057 Yuan/square meter. On the same day, guarantees the advantage real estate (quotation stock) also to pick under desert region house land in Hangzhou by 1.021 billion Yuan prices, similarly revolution zone price new high. When Wang Pin presently, professional said that the market risk started to be getting higher and higher.

Unit price king ultra base price 250%

Yesterday before the land sale, some developers predicted that this week must have the king to produce.

The material demonstrated that the Soviet garden mold hangs (2009) No. 06 land parcel starting bid price 1.0265 billion Yuan, the land area is 213852.71 square meters, the volume fraction 0.4-0.6, outset floor price 8000.05 Yuan/square meter. The Soviet garden mold hangs (2009) No. 07 land parcel, the license outset price 809.5 million Yuan, the land area is 155664.07 square meters, the volume fraction is 0.6-0.8, floor price 6500.376 Yuan/square meter.

The excellent golden rooster lake scenery, the rare low density house, naturally brings in the innumerable developers to hound. Including CITIC real estate, Sun Hung Kai and Lucheng Group and other real estate elder brothers all appear in same day’s transaction field.

On the same day sells, the developer increase in prices scope mentioned directly takes hundred million Yuan as the unit, short more than ten minutes, Lucheng Group under Song Weiping personally commands on the battlefield, takes No. 06 land parcel by 3.6 billion Yuan, surpasses the land base price 250%.

What everybody has not expected, (2009) No. 06 land parcel final 28057 Yuan/square meter floor price has also broken in the national house land public selling history highest record. Before then, the nation has not presented the unit price to be over 25,000 Yuan/square meter house land.

Yesterday, Lucheng China (03900.HK) closed 11.30 HK dollars, since this year this increase scope has reached 240%.

The East China soil-rent value 4 months rise 134%

On the same day, guarantees the advantage real estate also to take under Hangzhou by 1.021 billion prices the locality desert region house land – Hang Zheng Chu [2009]48 number land parcel.

East this land afforests to main road along the river, the winter solstice No. 6 avenue afforests, the west to the open area, the north to the open area, south the land parcel is bright poem international block. The volume fraction is 2.6 this land parcel area altogether has 52655 square meters.

The Bulgarian advantage passes through and Lucheng fights, to turn time of price close this land income pouch, similarly sets the record of local soil-rent value new high.

In fact, in past two months, the king turned into the national real estate market’s common phenomenon. The side side real estate elements of consultation issued yesterday reported newly demonstrated that this year July to August, the East China area 16 key city’s commodity apartment land selling quantities amounts to 9.53 million square meters, the growth nearly 30%, set the record in recent years new high.

Meanwhile, the land knockdown price also became the geometric series to grow. The data statistics revealed that the East China region average soil-rent value/Chinese acre has climbed to August’s 3.75 million Yuan from April trough time’s 1.6 million Yuan all the way/Chinese acre, the short 4 months, the land price rising rate reaches as high as 134%.

Hangzhou soil-rent value house price compared to ultra 50%

After taking the Suzhou two lands successfully, Lucheng group executive general manager Wang Hongbin when accepting the media visit said that the company “in natural heart is confident” to such price, indicated that this price and budget “almost”.

Finalized a deal many large-scale land parcels looking from the near future, the knockdown price was higher than the organization forecast rate completely largely. For instance Shanghai strong wind from afar land parcel, organization forecast deal floor price in 15000-18000 Yuan/square meter, but eventually the knockdown price has been over 22,000 Yuan/square meter; But Waigaoqiao (quotation stock) land parcel, finalized a deal 16128 Yuan/a square meter price also large scale to be higher than organization forecast finally 13,000 Yuan/about square meter ……Various real estate company high price strategy is as if far without limits.

Side side real estate consultation department manager Zhao Yuchuan said that rises along with the land price straight line, at present each big urban soil-rent value accounts for the house price proportion to be getting higher and higher, the Hangzhou area soil-rent value house price occupies compared to having surpassed 50%, Nanjing similarly so. By the present soil-rent value, the market risk accumulated to quite horizontal.

◎ related news

Last week national land market

Turnover drop

According to Xinhua News Agency, Tianjin, September 22 – the Chinese Index Research institute data message Center monitor demonstrated that from September 14th to 20th, the national land market transaction was relatively steady , to promote the quantity to go up, the turnover had certain scope drop.

According to statistics, promoted land area 6.79 million square meters last week, the link ratio increases 58%; Deal land 34, link ratio dropped 47%, the deal land area 1.22 million square meters, the link ratio drops 56%. Shenyang promotes land 20 , to promote the land area 2.16 million square meters , to promote the quantity to be situated 20 to monitor the head of city; Tianjin deal land 9, the deal land area 380,000 square meters, the turnover was situated 20 to monitor the head of city.

The monitor demonstrated that last week house deal floor even price 4878 Yuan/square meter, the link compared micro increases 6%. Premium level in 50%-100% has 7, the premium level is over 100% only 3. Some 2 house land were over 10000 Yuan/a square meter deal, was located at Baoshan District in Shanghai. And Baoshan District Pan Gu road south side house land 217% the Liang property development limited company is competed by the premium by Shanghai. (This article originates: Eastern morning paper author: Liu Xiuhao)

The NetEase finance and economics on September 22 the news Chinese government net announces “State Council about Further To promote SME development Several opinions” today (hereafter refers to as opinion) full text, the opinion is the State Council promotes the SME development conference’s content refinement to 19th about the research deployment.

The opinion pointed out that the country promotes the SME development using tax policy, to deal with the international financial crisis effectively, supports the SME development, from January 1st, 2010 to December 31, 2010, should the tax payment amount of income be lower than 30,000 Yuan to the year (including 30,000 Yuan) the small meager profit enterprise, it obtained reduces according to 50% includes should the tax payment amount of income, according to 20% tax rate payment enterprise income tax.

Central University of Finance and Economics tax affairs institute vice-president Liu Heng said to the NetEase finance and economics that the small meager profit enterprise income tax has deferred to 20% to carry on the collection, this stipulation is a tax payment volume lower enterprise carries on the preferential benefit to the small meager profit enterprise, gives to reduce the tax payment volume. For instance some enterprise year should tax payment amount of income be 20,000 Yuan, stipulated according to the opinion, this enterprise may defer to reduces half is 10,000 Yuan (it obtained reduces according to 50% includes should tax payment amount of income), then defers to 20% to carry on the collection again.

According to “People’s Republic of China Income tax law”, generally the enterprise income tax rate is 25%. But has also given the explanation on the particular case, the stipulation conforms to the condition small meager profit enterprise, reduces according to 20% enterprise income tax rate. The country needs the key support high-technology enterprise, reduces according to 15% enterprise income tax rate.

The tax law regarding the small meager profit enterprise explanation is two kinds: If industrial enterprise, the year should the tax payment amount of income not over 300,000 Yuan, the employed population not over 100 people, the gross asset not over 30 million Yuan; Other enterprises, the year should the tax payment amount of income not over 300,000 Yuan, the employed population not over 80 people, the gross asset not over 10 million Yuan.

Attaching: “State Council about Further Promotes the SME development Several opinions” full texts (this article originates: NetEase finance and economics author: lynch)

The NetEase finance and economics on September 22 the news in the evening Shenzhen Stock Exchange had issued opens a bank account the reply investor who buys the way with Shanghai to inquire about the undertaking board. The following is question and answer full text:

Question: Only participates in undertaking board new stock Shen Gou, did not plan that carries on the undertaking board stock transaction, whether must sign the risk revelation book, handles the transaction to clear the procedure?

Answer: Yes. The natural person investor must arrive at the securities company sales office scene to sign “Undertaking Board Market Investment risk Revelation Book”, in passing through the securities company confirmed and clears the undertaking board market transaction after the prescribed time limit, the investor may participate in undertaking board new stock Shen Gou.

Here, what needs to propose the investor to pay attention, in Shen Gouhuo who going through the above risk revelation book signature formalities cannot participate in the undertaking board stock on the same day buys and sells, and trades the investor of experience to need the time to be different differently, had over two years natural person investor of the stock transaction experience (T date) the second trading day (the T+2 date) then Shen Gouhuo to buy and sell the undertaking board stock (including two years) after the signature risk revelation book, but has not had natural person investor of two years transaction experience, then must the fifth trading day (T+5) be possible Shen Gouhuo to buy and sell the undertaking board stock after the signature. For example: Had two years transaction experience’s natural person A to go to the sales office to handle the undertaking board in the Monday normal trading day to clear the procedure, then A may start Shen in Wednesday Gou the undertaking board new stock; Has not had two years transaction experience’s natural person B to handle the undertaking board to clear the procedure in the Monday normal transaction other day, then B must only then start Shen in next Monday Gou the undertaking board new stock.

Question: In the weekend handles the undertaking board to clear the procedure, when can start Shen Gou the undertaking board new stock?

Answer: In order to facilitate the investor goes to the sales office to handle the undertaking board transaction using the relaxation time to clear the procedure, some securities companies provided the weekend to handle the relevant operation for the investor the service. If the investor goes to apply in the weekend to clear the undertaking board, regardless of being Saturday or Sunday, with clears for Friday application equally, namely will have over two years to trade the natural person investor of experience to be possible to start Shen Gou in next Tuesday, but has not had investor of two years transaction experience to be possible to start to participate in Shen Gou next Friday.

Question: Undertaking board new stock Shen does Gou have what difference with the platelet? Which does concrete Shanghai buy the item to operate the request?

Answer: Undertaking board new stock Shanghai buys item not to have the difference with the platelet, compares new stock Shanghai which cared to buy the item concrete explanation regarding the investor to be as follows:

Question: How do the investors carry on undertaking board new stock Shen Goupei and sign the inquiry?

Answer: Contact undertaking board new stock Shen Goupei and signs the situation to be possible through two ways; first, to arrive to inquire in the securities supervision commission; Second, inquired through Shenzhen Stock Exchange automatic voice call, the sound news number was 0755-82288800.

Question: Is the participation undertaking board online Shen Gou quantity limit what kind of?

Answer: Undertaking board online Shanghai buys the unit is 500, each security account Shen Gou entrusted many in 500; Over 500 must be 500 integral multiples, but do not surpass advocates the credit corroborative definite Shanghai to buy the upper limit in the release announcement. Buys quantity to surpass new stock Shen Gou who regarding Shanghai Shanghai buys the upper limit to entrust, Shenzhen Stock Exchange transaction system regards as the invalid request this request, does not give the confirmation.

Question: When the investors participate undertaking board each stock online Shanghai buys, can use same security account repeatedly Shen Gou? Can use many security account Shen Gou?

Answer: When the investors participate undertaking board each stock online Shanghai buys, can only use security account Shen Gou one time. If the investor uses an account repeatedly (including or many places) Shanghai buys with the stock, first Shen Gou will be confirmed that other will regard as invalid Shen Gou will remove the list automatically. If same investor by having many of the same name buy with credential number security account Shanghai with the stock, Japan will confirm finally the first Shanghai buys effectively, other accounts’ Shen Goujun process as invalid Shen Gou.

Question: Undertaking board online Shen can Gouxin the stock remove the list?

Answer: Not. New stock Shen Gou entrusted one to confirm after Shenzhen Stock Exchange transaction system that do not remove the list.

Question: When investor online Shen Gou does the undertaking board new stock’s fund defrost?

Answer: In the ordinary circumstances, Shen Gou the third trading day (the T+3 date), China will settle accounts Shenzhen Subsidiary company to not to sign the part new stock Shanghai to buy the fund in the future to carry on defrosting processing. After settling accounts the litigant to receive China to settle accounts Shenzhen Subsidiary company to return Shanghai which buys the spare money, again the fund returns to the investor. When the investors may draw money, reference securities company relevant operation stipulation.

Question: The undertaking board sells on ration the object only to participate under the net distributing, can’t participate in online Shen Gou?

Answer: . To each only undertaking board new stock release, same sells on ration the object to be possible to choose under the net or the online one way carries on new stock Shen Gou. But, every participates in preliminary inquiry quoted price the selling on ration object, whether regardless of quotes price effectively, cannot participate in the online release.

Question: Can the individual investor and general institutional investor participate under the undertaking board new stock network the inquiry and sells on ration?

Answer: Cannot. Under the new stock network sells on ration the object generally for the special financial institution or the securities product, its qualifications were recognized by Chinese Securities business Association.

Question: Does the undertaking board stock sell on ration the stock locking deadline which under the object net sells on ration is also three months?

Answer: Yes, the undertaking board stock sells on ration the stock locking deadline and motherboard which under the object net sells on ration is the same, for the date of share three months later going on the market circulation.

Question: Which account data to Shenzhen Stock Exchange and China under the undertaking board net distributes inquiry object to settles accounts Shenzhen Subsidiary company to send? How to send?

Answer: Under the net distributes the inquiry object to settles accounts Shenzhen Subsidiary company sending to sell on ration the object Shenzhen stock market A stock security account to Shenzhen Stock Exchange and China, including sells on ration the object respectively already to the Chinese Securities business Association report Shenzhen stock market A stock security account, as well as sells on ration other object drawn up Shenzhen stock market A stock security accounts respectively. The checkout system will take under the net to distribute the account which the inquiry object sends as the basis, to selling on ration the object participation online Shen Gou behavior carries on the monitoring.

Sends the way to see specifically “about Sending Under Net Distributes To sell on ration Object A Stock Security account Notice” (Shenzhen Stock character [2009] 120th, may, in Shenzhen Stock Exchange website WWW.SZSE.CN and China settle accounts on web site WWW.CHINACLEAR.CN inquiry).

Question: The inquiry object sells on ration the object account after Chinese Securities business Association report, when needs to Shenzhen Stock Exchange and China settles accounts Shenzhen Subsidiary company sending should sell on ration the object the connection account?

Answer: The inquiry object should sells on ration the object account 2 working days after the Chinese Securities business Association report, to Shenzhen Stock Exchange and China settles accounts Shenzhen Subsidiary company sending should sell on ration the object the connection account.

Question: To hasn’t sent to sell on ration the object security account according to the request the inquiry object to have what punishment measure?

Answer: Regarding has not sent to sell on ration object security account and prompt has not made an after-event report according to the request and correction related account inquiry object, will limit its subordinate to sell on ration under the object participation network to sell on ration.

Question: Does the undertaking board new stock release need to charge the related fee?

Answer: The publishers through Shenzhen Stock Exchange transaction system release stock, Shenzhen Stock Exchange do not charge the handling charge to the publisher, the investor cannot pay commission and stamp duty and other fees. (This article originates: NetEase finance and economics)

The Chinese negotiable securities newspaper on September 23 the news undertaking board first obtained the written instructions to a subordinate ten enterprises on 22nd the preliminary inquiry, some participation inquiries’ securities traders think that the platelet will become the undertaking board inquiry the important reference, the undertaking board company fixes a price to be hard in excessively many deviations the platelet, presented the superelevation market profit the possibility not to be big. Regarding whether participates in Shen Gou, hand grasps the large sum of money the organization to present the differentiation, because the undertaking plate current trades the value to be small, many organizations worried that “speculates in the stock market to fire shareholder”, expressed that will continue to wait and see. The following is 10 undertaking board company’s inquiry result:

300001 especially sharp German inquiry sector 21.20-25.60 Yuan

Especially sharp German guaranteeing and recommending people send negotiable securities writing up broadly the valuation report, thinks that its A stock reasonable value of each contribution sector is 21.20-25.60 Yuan. And in 2008 rejects the non-regular profit and loss after the release total capital stock the net profit computation’s market profit is 46.70-56.75 times.

300002 divine land peaceful mountain inquiry sector 47.27-56.36 Yuan

The national capital negotiable securities believe that this company 09-11 years each income hopeful is 2.00 Yuan and 2.67 Yuan and 3.49 Yuan, it is estimated that the company secondary market reasonable price is among 52-62 Yuan, the suggestion primary market inquiry will be 47.27-56.36 Yuan, corresponding in 2009 PE is 26 times.

An organization thinks the company reasonable estimate value sector is 63.64-74.53 Yuan, in the sector the value is 69.08 Yuan, the correspondence 09, 10 and 11 years PE respectively are 33, 24 and 19 times.

300003 happy Pu medical service inquiry sector 26.29-28.77 Yuan

The happy Pu medical service on September 22 conducted the IPO road show recommendation in Beijing. Bulgaria recommends organization Xinda negotiable securities writing up the valuation report to demonstrate that the happy Pu medical service’s reasonable estimate value sector is 26.29-28.77 Yuan, will be opposite after 2008 static market profit (release booth thin) will be 53-58 times, in 2009 and 2010 dynamic market profit respectively will be 36-40 times and 26-29 times.

300004 south wind stock inquiry sector 24-31 Yuan

Southern air blower limited liability company preliminary inquiry finished, the guaranteeing and recommending person letter of greeting negotiable securities think that its reasonable estimate value sector decides as 24 Yuan to 31 Yuan.

300005 explorer inquiry sector 19.82-25.49 Yuan

The host credit corroborative Dongxing negotiable securities give 19.82-25.49 Yuan estimate value sectors to explorer, the absolute estimate value’s reasonable price in 14-30 Yuan, will estimate in 2009 the dynamic market profit in 35-45 times.

But the Shenyin international negotiable securities reported pointed out that it is estimated that the explorer 2009-2011 years spread thin EPS completely are 0.56, 0.74 and 0.90 Yuan, in the future 3 years net profit compound annual growth 33%. Considered earlier release Saturday and Luo family spins release dynamic market profit nearly 30 times, the undertaking board company growth potential will have certain premium high, may 35 times of market profits take the inquiry upper limit. The suggestion 33-35 times of market profits takes the inquiry sector by 09 years, among the matching price 18.5-20 Yuan.

300006 beautiful pharmaceutical industry inquiry sector 15.2-17.6 Yuan

On 22nd, the beautiful pharmaceutical industry held the road show in the Beijing state guest hotel. The memoir of company main credit corroborative country gold negotiable securities believes that company’s reasonable value sector is 15.2-17.6 Yuan, will correspond in 2009 the achievement estimate value level respectively is 34 times and 39 times, will correspond in 2010 the achievement estimate value level respectively is 26 times and 30 times.

300007 Chinese prestige electron inquiry sector 26.77-32.13 Yuan

Chinese prestige electron credit corroborative country gold negotiable securities give the inquiry sector is 26.77-32.13 Yuan/.

Before this, the Shenyin international analyst forecast that the company inquiry sector should in 18.2-22.8 Yuan, correspond in 2009 28 times – 35 times of market profits. The national capital securities analyst thinks should in 24.15-27.60 Yuan/.

At present, the Chinese prestige electron correspondence’s 2009 dynamic market profit will be 39 times – 47 times. In current release’s several undertaking board enterprise, the market profit is relatively high.

300008 good bold ships inquiry sector 20.5-28.7 Yuan

On 22nd, the Shanghai good bold Ship Engineering design limited liability company convened the preliminary inquiry and meeting, its credit corroborative country Yuan negotiable securities gave company’s inquiry sector are 20.5 Yuan – 28.7 Yuan. Market profit 25-35 times.

The national capital securities analyst said that the company secondary market’s reasonable price should be 20.0-28.0 Yuan, the suggestion inquiry price is 24.0 Yuan.

300009 peaceful branch biology inquiry sector 13-17 Yuan

On 22nd, the peaceful branch biology’s road show held in Beijing Nationality Hotel, attracts more than 60 securities traders to come to visit. The reporter found that the securities trader the inquiry sector which draws up for company slightly has the difference, the conservative public figure estimated that in 13-17 Yuan, will correspond 2009 achievement estimate value level respectively is 27 times and 35 times, some securities traders will think in 14-18 Yuan.

300010 stand thinks of chen the inquiry sector 14.4-17.1 Yuan

Stands thinks of chen the main credit corroborative country sea negotiable securities the inquiry sector which draws up for it is 14.4-17.1 Yuan, corresponding in 2009 the dynamic market profit is 32-38 times.

Shenyin international on 22nd issued the inquiry report believes that company 2009 – 2011 EPS is 0.46, 0.58 and 0.71 Yuan. Gives company 09 and 10 years market profits is 36.7 and 30.0 times. The corresponding reasonable price about 17 Yuan, high and low adjusts 10% to decide on the above price sector. (This article originates: Chinese negotiable securities newspaper author: Cai Zongqi)

The Chongqing Evening News on September 23 the news implemented in yesterday’s implementation the new “Postal service Law” videophone joint conference, received the attention “postal service monopolizing scope” incident had the new progress. In the conference, communications and transport vice-minister Gao Hongfeng disclosed that before this stipulation postal service monopolizing scope reaches a deadlock temporarily. This act means that regards as by the privately operated express profession “lives dead line” the postal service monopolizing scope will have done the adjustment.

The monopolizing scope delimits will consider first people’s benefit

Gao Hongfeng explicitly said at the meeting, before this announced “Draft” not also carries out along with new “Postal service Law”, before the new standard appeared, the privately operated express company still may refer to the present standard management, at present the department concerned is grasping to study to formulate the new postal service monopolizing scope, the concrete measures for implementing appearing time had not determined.

Gao Hongfeng stressed that “delimit of monopolizing scope will consider first people’s benefit.”

State postal bureau chief Ma Junsheng said yesterday at the meeting that the postal service monopolizing specific scope present is grasping to study the making by the relevant authority according to the legal proceedings.

Ma Junsheng pointed out that the postal service monopolizing system is a “Postal service Law” basic system. The specific scope present is grasping to study the making by relevant authority according to the legal proceedings. The basic guideline must safeguard the postal service postal service, the safeguard national information security, the promotion profession health coordinated development. After means promulgation, is going to organize to execute.

In April, after new “Postal service Law” promulgates, the State Council immediately releases “Postal service Enterprise Monopolizing Business scope Stipulation (Draft)”. “Draft” clearly stipulated: The single unit weight (single unit weight which in state regulation’s super city urban district sends in 100 grams mutually in 50 grams) the letter domestic express service is monopolized by the postal service enterprise. The date of this view announcement, encountered the opposition of non-postal service express enterprise. “50 grams” and “100 grams” immediately regard as the privately operated express companies “lives dead line”.

Some insiders guessed, although “lives dead line” to reach a deadlock, but “Postal service Law” 55th clear-cut provision “express enterprise do not manage by the postal service enterprise monopolizing letter sends hands over the service, do not send hands over state agency archives” this not to change. After October 1, the non-postal service express company is very big buckle a part of business volume. The formulated monopolizing scope should revolve ordinary citizen’s document to deliver, if cannot the letter by the document way express, the document weight probably deliver by the postal service based on this and so on.

The building of residence must settle the mailbox

New “Postal service Law” stipulated that regardless of being the new construction commercial building, uses many years plot apartment building, as well as development zone and old building transformation area, after October 1, must install the mailbox. And opens every day takes the mail box time also to have clearly stipulated: The city should not be short in 1 time, township and town people’s government locus every day should not be short in 5 days and rural areas every week should not be short every week in 3 days.

Express relevant provision

The express company is authorized Zha Jian

New “Postal service Law” has entrusted with the new right and duty to the express company.

It is known that the express company will have the right to examine to send from now on, does not allow delivers, brittle, easy regarding the legal prescribed limit to damage, Yi Bianzhi and other goods, the express company is authorized to refuse to deliver.

At the same time, the express company to the goods which delivers safely will also be responsible, including goods whether damages, loss, wrong to send.

If the discovery dispute, the customer may sues to the local postal service administrative bureau or the express association, the department responsible for the work will give the reply in 7 working days.

The express service is about to standard

In to the business management request in express company, new “Postal service Law” requests the express company to “have the strict grade of service control system and complete operation standard; Has the perfect safety control system and measure”.

Regarding this, the city postal service administrative bureau indicated that they are drawing up to suit this city special details the express industry behavior standards. From now on, the express company visits to receive the time standard and exchange terminology use, sends single standard filling and so on, must according to the regulation. Moreover, the express company must provide website and sound news and other consult ways, enables the sender momentarily to examine that the goods deliver the situation.

Express envelope standard appearing

The city postal service administrative bureau disclosed that from December 1, which express company regardless of chooses, must use the standard the envelope.

Just appeared the national express envelope unified standards request, at the back of the envelope should indicate the glue express bill of lading the position. Externally requests the envelope surface should level clearly. The express enterprise operation letter express service, should leave leeway 2cm×3cm the blank region is used to label the black on white “letter” in the envelope positive left bottom inscription. At the back of the envelope should also be printed with the envelope suitable document thickness and weight, endures hands over the goods and other operating instructions. (This article originates: Chongqing Evening News)