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Company’s Fact

Sichuan Road and Bridge Co., Ltd. (SRBC) is a wholly state-owned large enterprise which is approved by the Sichuan Provincial People's Government with a registered capital of 500 million yuan. SRBC’s primary businesses are construction of roads and bridges, the toll collection of roads and bridges, and the generation and distribution of electric power. In 2002 SRBC received the ISO2000 international quality certification. It has more than 8,000 employees and various types of professional and technical personnel more than 3,000 people. SRBC has modern large-scale construction machinery and equipment over 4,000 sets, total assets of 6 billion yuan and about 7 billion yuan in annual output. SRBC was listed on the Shanghai Stock Exchange in 2003, the first A-share listed company in Sichuan transport system.

The predecessor of SRBC was founded in the early 1950s. In the past 40 years, the company has constructed more than 10,000 kilometers of roads, of which 4,000 km highway, major bridges over 500 blocks, tunnels, airports, piers, dams, municipal works and so on. Due to its high quality and efficiency, SRBC has won excellent reputation in the industry. In recent years, the construction of the Chengdu to Chongqing, Chengdu and Mianyang, Mianyang and Guangyuan, Chengdu and Nanchong, and Chengdu to Ya'an, Leshan and Chengdu, Neijiang and Yibin, Luzhou Longchang to, Fuling to longevity, Florida to Chongqing and Lake Nanxiang Lei Provisional long, Tan-Shao, Hubei Wuhan Ring Line, Ningbo, Zhejiang Taiwan, in Yulin in Shaanxi, Gansu Chan Liu, Guangxi, such as Friends of the South Expressway and the Yangtze River Bridge, Fuling, Wanxian Yangtze River Bridge, Hubei Yunyang Han River Bridge, the Yangtze River Bridge in Hubei Yichang, Hubei Hubei Huang Yangtze River Bridge, Luzhou Yangtze River Bridge No. 2, Wushan Yangtze River Bridge in Chongqing, Hubei Padang River Bridge, Wang Zhongshan, Guangdong Gate Bridge, Zhejiang Gate Bridge deep, Yibin Yangtze River Bridge and Zhoushan in Zhejiang Hou West Gate Bridge and other projects have been very well undertaken.

Since 1979, SRBC has received more than 110 contracts from overseas, the total sum of the contracts amounting to more than 300 million U.S. dollars. In 1993 SRBC gained the external foreign trade operation rights. Its current projects which under construction are mainly located in Eritrea, Tanzania and other countries, with an annual output value of more than 2,000 million U.S. dollars.

Financial Overview

6.84
+0.31 (4.75%)
Jun 20 - Close    Open:  6.35      Mkt Cap:  2.08B      P/E:  197.80      Dividend:      -    High:  6.88      52Wk High:  12.60      F P/E:      -      Yield:      -    Low:  5.88     52Wk Low:  5.51     Beta:      -      Shares:  304.00M    Vol:  24.99M      Avg Vol:      -      EPS:  0.03      Inst. Own:      -

Key Stats & Ratios

Sichuan Road & Bridge Co., Ltd has released the First Quarterly Report on April 30. Till the end of this report period, the company's total assets are RMB 4.89 billion, increasing 7.77% comparing with the same period of 2007. The net profits of the first quarter are RMB 4.07 million with the increase of 12.92% comparing to the same period, and EPS is RMB 0.0134, increasing of 12.92% compared with the same period of 2007.

State Development and Reform Commission yesterday announced that with effect from June 20, the petrol and diesel prices to be increased 1,000 yuan per ton, aviation kerosene prices increased 1,500 yuan per ton. From July 1 onwards, the average sales price per kilowatt-hour will be increase by 2.5 cents. There will be no adjustment on the liquefied petroleum gas and natural gas prices. Stimulated by this good news, power plate today rose 6.65 percent and this has brought terrific news to the investors as well as washed away the current markets blue.

I believe that the price increase will effectively boost the performance of the power production enterprises and upgrade the investment value of the listed companies in the power sector. I suggest that the investors should pay close attention to the related stocks. In the other hand, due to the huge cost advantage, the hydraulic power companies have benefited significantly more than the thermal power enterprises. In fact, today, the listed companies such as Sichuan Minjiang Hydropower Co., Ltd (600,131), Chongqing Three Gorges Water Conservancy (600,116), Sichuan Xichang Electric Power Co., Ltd. (600505) and other hydraulic power enterprises were strongly reflected in it. Obviously, SRBC who is also running the same business will be benefited as well!

In November 2005, SRBC established Sichuan Balang River Hydropower Development Co., Ltd. with registered capital of 120 million yuan. The company is mainly responsible for the investment and development of Balang River 180,000 kilowatt hydropower projects.

Sichuan has vertical and horizontal rivers with rich hydropower resources, thus it becomes one of the most important hydropower bases in China. In accordance with the Party Central Committee and State Council's plan, the provincial party committee and government aggressively implement the scientific concept to develop Sichuan’s hydropower market and effectively promote the economic and social development leaps and bounds. There is unlimited potential that you can imagine.

SRBC is a subsidiary of Sichuanba Hydropower Development Co., Ltd. (the company holding 51 per cent share), the company is mainly responsible for Pakistan Cascade River Basin water resources development and windmill power station constructions. In year 2005, Sichuanba Hydropower Development Co., Ltd. had generated revenue of 10.55 million yuan, and achieved net profit 3.4811 million yuan.

From the annual general meeting in 2007, SRBC revealed that the windmill power stations were starting to run successfully in October 2007. The building of Ganzi Pakistan Lang River Hydropower Station with installed capacity of 180,000 KW is also under smooth progress, it is estimated that the first generating unit will also be put into production in the second half of the year. Insider said, after these two power stations are fully completed, it will lead to nearly 500 million yuan of income, more than 100 million yuan of net profit every year!