3% the same period last year. Acquisition of company's production capacity layout

The value added tax return policy deadline for unqualified, positive long-term development of the company. On December 7, 2009 announcement by the Ministry of the State administration of taxation on the comprehensive utilization of agricultural and forestry residues as raw material products tax policy notice (taxation. No. 2009.148) qualified implementation time from January 1, 2009 to December 2010Number, VAT return policies of this bulletin is not qualifying deadline, exceeded market expectations, positive long-term development of the company.　　11 VAT return thickening around 0.1 Yuan for the whole year are expected. Technical and cost advantages, activated carbon sales and prices continued to rise, gross profit margin increased gradually. Other domestic enterprises were mostly hand-made cottage wood activated carbon production, 1th domestic research and development company has automated equipment, increase efficiency, lower than the industry average cost 1000-1500 Yuan/ton; both companies rely on technology to develop special activated carbon, high-end products increased percentage, 6,800 Yuan/ton of product sales price from the beginning of up to 8,100 current Yuan/tons. At present the company activated carbon monthly close3,000 tons, representing a 3 quarter 20% growth, gross profit margin the first 3 quarters of 32.56%, 3% the same period last year. Acquisition of company's production capacity layout the old republic power leveling, thick EPS0.1 is expected to increase next year. Recently the use of funds raised $ 41.7 million to buy three of Yushan, Jiangxi province held by the investment company of three Pacific activated carbon limited 100% stake, will make the company's production capacity layout more rational, ease the forest of three remaining supply pressure, conducive to the long-term development of the company.　　Business procedure change currently undergoing, expects the acquisition to thicken EPS0.1 next year. Investment advice: the company in the field of wooden activated carbon technology and cost advantages, raise investment with 2 lines of production, productivity growth next year 50%, The growth performance over high margin of safety.　　Determination of the VAT return policies, we increase the company's EPS 11-13 respectively to 0.69, and 1.24 star wars the old republic power leveling, 6-12 month target price of $, it is highly recommended rating. (Specific content please see annex)