Three-than-expected quarterly financial IC cards are entering the peak period

Expected annual results to a new level. Significant increase in the company's third quarter inventory balance of 84% compared to the beginning, when compared with the interim data have significantly improved. Considering the company has always been a more robust style, we think the larger companies in the procurement of a positive attitude may be plenty of behind as a support order or intention of the contract, in the fourth quarter, or will have a greater surprise. The company expects full-year results in 30 `% range, according to the current development momentum, we believe that the actual performance is likely to exceed the value of the trailer issuing financial IC card is entering its heyday. Four lines, the company has a good customer base in the ABC, the company is expected to receive a larger share; ICBC to launch a new round of bidding if the company there is a higher probability of finalists; while Bank of China, the current shipping schedule is far lagging behind the engineering, construction two lines, under the supervision of the central bank policy guidance frequent introduction of next year or significantly accelerate the company as one of the major suppliers will subsequently benefit. Look reported from other joint-stock banks, city commercial banks and credit card issuers are small bodies start, revenue from this part of the customer's point more likely to erupt embodied in the next two years. Overall, we believe that the market share will remain broadly consistent with the previous pattern will not change much to maintain highly recommended A investment rating: financial IC card shipments this year than expected, the situation is very optimistic about the next two years, From the company point of view the progress of the client company structure and the financial IC card issuing business of the golden era has just begun. Operators and mobile payment CUP promote strong force, the size of next year is expected to issuing several times this year, compared with growth, the company will also benefit fully as a major supplier. The company is expected to 2013,14 EPS were 0.44,0.68 yuan target price 20.40 yuan, to maintain highly recommended A investment rating Risk Warning: Financial IC card price and gross margin decline uncertainties mobile payment card issuers progress is less than expected.Three-than-expected quarterly financial IC cards are entering the peak period

Expected annual results to a new level. Significant increase in the company's third quarter inventory balance of 84% compared to the beginning, when compared with the interim data have significantly improved. Considering the company has always been a more robust style, we think the larger companies in the procurement of a positive attitude may be plenty of behind as a support order or intention of the contract, in the fourth quarter, or will have a greater surprise. The company expects full-year results in 30 `% range, according to the current development momentum, we believe that the actual performance is likely to exceed the value of the trailer issuing financial IC card is entering its heyday. Four lines, the company has a good customer base in the ABC, the company is expected to receive a larger share; ICBC to launch a new round of bidding if the company there is a higher probability of finalists; while Bank of China, the current shipping schedule is far lagging behind the engineering, construction two lines, under the supervision of the central bank policy guidance frequent introduction of next year or significantly accelerate the company as one of the major suppliers will subsequently benefit. Look reported from other joint-stock banks, city commercial banks and credit card issuers are small bodies start, revenue from this part of the customer's point more likely to erupt embodied in the next two years. Overall, we believe that the market share will remain broadly consistent with the previous pattern will not change much to maintain highly recommended A investment rating: financial IC card shipments this year than expected, the situation is very optimistic about the next two years, From the company point of view the progress of the client company structure and the financial IC card issuing business of the golden era has just begun. Operators and mobile payment CUP promote strong force, the size of next year is expected to issuing several times this year, compared with growth, the company will also benefit fully as a major supplier. The company is expected to 2013,14 EPS were 0.44,0.68 yuan target price 20.40 yuan, to maintain highly recommended A investment rating Risk Warning: Financial IC card price and gross margin decline uncertainties mobile payment card issuers progress is less than expected.