Magnetic Level,Magnetic Level Gauge,Magnetostrictive Level,Float Level Gauge Wuxi Winsun Automation Instrument Co., Ltd , https://www.winsunwx.com
Comments: Following the rise of graphene, hexagonal boron nitride is expected to play a significant role in the future semiconductor industry. In the A-share market, companies involved in super-hard materials, such as Yu Diamond (300064), Sifangda (300179), and Yellow River Cyclone (600172), may be worth monitoring as potential investment opportunities.
Yu Diamond: A diamond company with a stock currently undervalued
Investment Highlights:
    For 2012, the company's performance fell significantly below the previous forecast of 4 cents per share. The main reasons include: 1) The micronized powder business did not meet expectations, contributing little to profits, which was lower than our prior estimate of 1 cent. However, after acquiring the Micronized Joint Venture in late 2011, the company made progress in relocation, registration, and tariff optimization, laying a solid foundation for recovery in 2013. 2) The decline in fixed asset investment growth affected the pricing of low-grade single crystal products, which in turn impacted profitability. 3) Equity incentive expenses amounted to 10.67 million yuan, affecting earnings by nearly 2 cents. These costs will be amortized over 2013 and 2014, reducing their impact over time.
    Looking ahead to 2013, the company's key businesses are expected to perform as follows: 1) Single Crystal: Although industry supply continues to grow, the top three suppliers still maintain control over mid-to-high-end grades, and prices for low-grade broken materials have stabilized. With the gradual commissioning of the 1.02 billion carat project, production is expected to increase by 30% in 2013. 2) Micronized Powder: After one year of restructuring, the company has placed greater emphasis on this business, aiming to transform it into a new growth driver. We remain optimistic about its expansion, especially in precision grinding and functional applications where its thermal and optical properties are highly valued. 3) Wire Saw: Due to ongoing difficulties in the photovoltaic industry, the company temporarily halted the wire saw project. However, with signs of improvement in the PV sector and supportive policies, the company plans to adjust its strategy accordingly.
    Recently, as the broader market rebounded, the company’s stock price rose only 20% from its lowest point. As a functional new material company with strong performance potential, it remains in a relatively undervalued position.
Investment Recommendation: We expect EPS for 2012–2014 to be 0.25, 0.33, and 0.42 yuan respectively. With a current P/E ratio of 17 times 2013 earnings, we maintain a "Strong Buy" rating.
Risk Warning: A sharper-than-expected slowdown in macroeconomic growth could negatively affect the company’s performance.
Boron nitride hand-held graphite thin superhard material breakthrough
Abstract Researchers from the Massachusetts Institute of Technology have developed a single-atom-thick hexagonal boron nitride, a material that shares similar thickness and properties with graphene. By placing a layer of graphene on top of this material, they created a hybrid structure that retains the excellent electrical conductivity of graphene while introducing an energy band gap—making it suitable for building transistors. This breakthrough has been hailed as a major step forward in next-generation materials science.