Wonder Auto Technology, Inc.( NasdaqGM: WATG )

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Wonder Auto Technology, Inc.( NasdaqGM: WATG )

Trading China Stock Tracker - Wonder Auto Technology (watg)

Business Outlook
On December 20th, 2010, Wonder Auto Technology announced that it has launched a project to list its subsidiary Jinzhou Halla Electrical Equipment Co. on China's Shenzhen Stock Exchange (SZSE). As part of the Listing, the Company anticipates that Jinzhou Halla will conduct an initial public offering of its new shares on SZSE, and WATG's shareholders will still hold more than 73% of shares of Jinzhou Halla after the IPO. The purpose of the Listing is to maximize the Company's capital value by taking advantage of attractive valuations on the SZSE and to raise additional capital that can be used to grow the business. In advance of the Listing, WATG intends to reorganize several of its subsidiaries to consolidate in Jinzhou Hall its automotive engine parts business, including its starter and alternator business and engine valve and tappets business. These businesses are expected to account for 50% to 60% of the Company's projected net income in 2010.

"Since listing on Nasdaq, Wonder Auto has experienced rapid growth with the support from its investors. The Company and management team appreciate the investors' great support and acceptance. We believe that China's economy and automotive industry will continue to experience growth in the next few years, which provides WATG, as a leading supplier of China automotive parts, with great opportunities. We believe that we will be able to achieve better business performance if the Company gets additional capital support. According to our investigation, the SZSE has been providing attractive valuations to companies. For instance, the current PE ratio range of past IPOs in SZSE in 2010 was between approx 40-140 times. Accordingly, we believe that listing a portion of Jinzhou Halla will provide the Company the capital that it needs to leverage its opportunities for growth and also increase value for WATG's existing shareholders."

The Company cautions investors that listing on the SZSE is a complex process that involves a number of risks and uncertainties, including without limitation, approval of China's Securities Regulatory Commission, and there is no assurance that the listing of Jinzhou Halla on the SZSE will be completed.

(Source: PR Newswire, 2010-12-20)
On November 30, 2010, Wonder Auto Technology announced that Jinzhou Jinheng Automotive Safety System Co., a wholly owned subsidiary of the Company, will start to supply customized airbags to a world-class European OEM in volume shipment in the first half of 2011. "This is a milestone to the Company and means that Jinzhou Jinheng's product quality, product performance and manufacturing technology have been recognized by top-tier customers worldwide, which will certainly increase our future sales both domestically and internationally."

(Source: PR Newswire, 2010-11-30)
On November 23, 2010, Wonder Auto Technology announced that management estimates that its revenue for 2011 will be about $445 - $455 million. These estimates are based upon management's analysis of market trends and the audited financial statements of Wonder Auto's newly acquired subsidiary, Jinheng (BVI) Ltd. (Jinheng BVI) among other factors. "The acquisition of Jinheng BVI has provided Wonder Auto an opportunity to get access into the automotive safety industry, which requires higher technical abilities, but we believe offers greater development potential. We believe that the automotive safety business will support Wonder Auto for long term and solid growth and contribute positively to revenues for 2011."

(Source: PR Newswire, 2010-11-23)

see all Business Outlook notes

Analyst Coverage (show more)
2010-12-20 Roth Capital Reiteration Buy $14.00
2010-12-07 Oppenheimer Reiteration Outperform $14.00
2010-12-06 Piper Jaffray Reiteration Overweight $15.00
2010-11-10 Brean Murray Reiteration Buy $14.00
2010-11-09 Roth Capital Reiteration Buy $14.00

watg is currently followed by 9 analysts. 8 give the stock a positive rating, 1 rate it neutral and 0 give it a negative rating. The average price target is 14.38, which implies 77.90% upside from current price.


see all Analyst Ratings

Recent Financings
2009-10-28 Priced $83.16 mill 6.00 mill shares $13.86

Investor Presentations
2010-04-01 (PDF) DOWNLOAD (right click, save as)

WATG Key Statistics | Wonder Auto Technology, Inc. Stock - Yahoo! Finance

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STOP loss 7$
 
Warren Buffett's Favorite Auto Investment

-- By Andy Obermueller

Quietly, Warren Buffett and Berkshire Hathaway have made a large investment in one of China's growing automakers. What Buffett sees is that the auto industry is on the cusp of a global bull market, but it's not the "Big Three" automakers that will profit most.

. Warren Buffett's Favorite Auto Investment

When I went to the Berkshire Hathaway (NYSE: BRK-A) annual meeting last year, there was something I really wanted to do.

It wasn't chat with Warren Buffett.

That's all but impossible at the yearly "Woodstock for Capitalists," and only first-timers make the trek to Omaha, Nebraska to see Buffett anyway. Longtime shareholders make the trip to listen to Berkshire's Vice Chairman, Charlie Munger.

But even the inimitable Munger, who's probably the smartest guy in American business, wasn't at the top of my list.

I wanted to see a floor model of one of Berkshire's newest acquisitions -- the BYD car.

You see, all of the Berkshire companies display their wares in the exhibition hall at the Qwest Center in Omaha, from the GEICO gecko to Fruit of the Loom, and tucked off to one side was a BYD vehicle -- complete with a leather interior. (Leather is an atypical option for BYD cars, which are barebones and compete on price.)

Hundreds of attendees, mostly younger men, were doing the same thing I was doing -- snapping pictures of the engine with our iPhones.

BYD is a Chinese company, one that Buffett took a major stake in at Munger's behest. Buffett sent his top scout, a guy named David Sokol, to China to meet with the company's CEO, who showed him BYD's electric cars and, just as important, the highly efficient car batteries the company is building.


The battery fluid in the power cells is non-toxic, and BYD chief executive Wang Chang-Fu even drinks it to demonstrate that fact. Sokol politely declined to take a sip, but Berkshire took a 10% stake in BYD, which has since shot up in value.

The car looked like a dressed-up Saturn, tinny, plastic, and cheap. The door slam sounded like a Toyota (NYSE: TM) Corolla instead of an Audi or a Cadillac, which is, incidentally, what Buffett drives. The BYD car was and is the polar opposite of the sleek and sexy all-electric Tesla (Nasdaq: TSLA) Roadster, the must-have car among affluent Greens.

But the investment in BYD proves a powerful point. The auto industry is changing, but it's never stood still.

The question is this: Are there companies out there poised to accelerate that rate of change, and do they have what it takes to enrich their shareholders in the process?

This is why BYD caused such a stir in Omaha. It shows that even the most famous investor in the world sees that U.S. car makers will not have the power they once did as new consumers around the world enter the car market for the first time.

As the Chief Strategist behind Game-Changing Stocks, I'm always on the hunt for the next big thing. I'm telling you now that major auto manufacturers like General Motors (NYSE: GM) and Ford (NYSE: F) aren't the next big investment in the space.

In my view, the game-changers in the the transforming auto industry will come thanks to one of three things:

New technology developed by small companies. Big automakers are happy to pay for this technology to give their vehicles an edge.

Whether it's power windows, keyless entry, satellite radio, synchronized cell phones/entertainment systems or any of dozens of other examples, automakers embrace new technologies quickly. Companies that develop these new systems can burgeon seemingly overnight into industrial powerhouses.

Small companies that profit from electric cars. A shift in automotive design has ushered in the global trend toward short-trip electric cars. These models, geared for city dwellers who drive less than 40 miles a day, are appealing to environmentally conscious consumers who are willing to pay for a gas-free lifestyle.

With strong government incentives in Europe, China, and the United States, the BYDs of the world and their suppliers that can deliver electric cars are likely to see meaningful growth. Nissan's entire 2010 production run of its Leaf electric car sold out in just a few days. Electric car makers -- or, more specifically, the suppliers that deliver critical components -- are potential game-changing stocks.

Companies that fit in the first two groups must also be able to go global, delivering their products to consumers or companies in markets where meaningful sales growth is still possible -- and that means India and China.


It's important to keep the sheer mathematical reality of the worldwide automotive marketplace in mind. Over the next 40 years, the global fleet of passenger cars is expected to quadruple to nearly 3 billion. China, which has overtaken America as the world's biggest car market, could have as many cars on its roads in 2050 as are on the planet today; India's fleet may multiply 50-fold. It's likely that some modes of mass transit will help limit some of that growth, but there's no doubt car use is on a major upward trajectory.

Even with that, I don't think the largest returns are going to come from the current major auto companies. But BYD, like a handful of other companies I've been following, has a real shot of starting at the ground floor in this huge global industry and growing exponentially in coming years.

Or at least Warren Buffett seems to think so...

Always searching for the next big thing,


Andy Obermueller
Chief Investment Strategist -- Game-Changing Stocks


HRBN? CAAS?? ci sono alle calcagna, pronto a studiarle..OK!
 
Wonder Auto Technology, Inc.
No 16 Yulu Street
Taihe District
Jinzhou City, 121013
China - Map
Phone: 86 41 6266 1186
Fax: 86 41 6518 0163
Website: WONDER AUTO TECHNOLOGY INC | INVESTOR RELATIONS | Stock Quote

Details
Index Membership: N/A
Sector: Consumer Goods
Industry: Auto Parts
Full Time Employees: 3,766


Business Summary

Wonder Auto Technology, Inc., through its subsidiaries, engages in the design, development, manufacture, and marketing of electrical parts, suspension products, and engine components. It offers starters, alternators, engine valves, and tappets in the People’s Republic of China, South Korea, and Brazil, as well as airbags and seatbelts in People’s Republic of China. The company’s products are primarily used in a range of passenger and commercial automobiles. It also manufactures and sells rectifier and regulator products for use in alternators; and various rods and shafts for use in shock absorbers, alternators, and starters. Its customers include automakers, engine manufacturers, and auto parts suppliers. Wonder Auto Technology, Inc. is headquartered in Jinzhou City, the People’s Republic of China.

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WATG Key Statistics | Wonder Auto Technology, Inc. Stock - Yahoo! Finance

Valuation Measures
Market Cap (intraday)5: 265.12M
Enterprise Value (Jan 12, 2011)3: 323.51M
Trailing P/E (ttm, intraday): 8.58
Forward P/E (fye Dec 31, 2011)1: 6.47
PEG Ratio (5 yr expected)1: 0.41
Price/Sales (ttm): 0.96
Price/Book (mrq): 1.17
Enterprise Value/Revenue (ttm)3: 1.18
Enterprise Value/EBITDA (ttm)3: 8.06

Financial Highlights
Fiscal Year
Fiscal Year Ends: Dec 31
Most Recent Quarter (mrq): Sep 30, 2010

Profitability
Profit Margin (ttm): 11.04%
Operating Margin (ttm): 11.45%

Management Effectiveness
Return on Assets (ttm): 4.08%
Return on Equity (ttm): 17.60%

Income Statement
Revenue (ttm): 273.34M
Revenue Per Share (ttm): 8.28
Qtrly Revenue Growth (yoy): 33.70%
Gross Profit (ttm): 51.36M
EBITDA (ttm): 40.12M
Net Income Avl to Common (ttm): 30.17M
Diluted EPS (ttm): 0.91
Qtrly Earnings Growth (yoy): 83.50%

Balance Sheet
Total Cash (mrq): 60.58M
Total Cash Per Share (mrq): 1.79
Total Debt (mrq): 139.29M
Total Debt/Equity (mrq): 61.67
Current Ratio (mrq): 0.90
Book Value Per Share (mrq): 6.67

Cash Flow Statement
Operating Cash Flow (ttm): 12.45M
Levered Free Cash Flow (ttm): 60.81M

Trading Information
Stock Price History
Beta: 2.35
52-Week Change3: -38.85%
S&P500 52-Week Change3: 12.17%
52-Week High (Jan 14, 2010)3: 13.49
52-Week Low (May 6, 2010)3: 6.58
50-Day Moving Average3: 8.00
200-Day Moving Average3: 8.50

Share Statistics
Avg Vol (3 month)3: 617,568
Avg Vol (10 day)3: 576,657
Shares Outstanding5: 33.86M
Float: 19.62M
% Held by Insiders6: 34.38%
% Held by Institutions6: 38.50%
Shares Short (as of Dec 15, 2010)3: 3.91M
Short Ratio (as of Dec 15, 2010)3: 7.40
Short % of Float (as of Dec 15, 2010)3: 16.30%
Shares Short (prior month)3: 3.86M

Dividends & Splits
Forward Annual Dividend Rate4: N/A
Forward Annual Dividend Yield4: N/A
Trailing Annual Dividend Yield3: N/A
Trailing Annual Dividend Yield3: N/A
5 Year Average Dividend Yield4: N/A
Payout Ratio4: N/A
Dividend Date3: N/A
Ex-Dividend Date4: N/A
Last Split Factor (new per old)2: N/A
Last Split Date3: N/A
 
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