Jinjing Ultra-white Glass weakens the impact of the downturn

From January to September, Jinjing Group achieves 1,272,000,000 yuan of revenue, up 22.68%, 188,000,000 yuan of profit, up 3.84%, and 142,000,000 yuan of net profit attributable to owners of the parent company, down 10.41%, respectively with the changes of 24.82%, -17.56% and -39.21%. The basic earnings per share is 0.24 yuan.

Profit forecast and rating
The soda ash production line of Jinjing Group is being put into production, and the ultra-white glass line is not restricted in production. It is expected that EPS of the company will be 0.41 yuan, 0.66 yuan and 0.86 yuan from 2008 to 2010, with the corresponding price-earnings ratios of 11, 7 and 5. The earnings are on the low side of the industry, which creates an advantage in valuations for the company to remain the rating of "gaining shares".