China Electric Motor, Inc., (NasdaqGM: CELM)
Electrical Equipment
CELM is a China-based specialized manufacturer, engaged in the business of design, assembly and sales of electric micro motors to clients in home appliances, automobiles and digital equipment industries, in China and abroad. The Company primarily focuses on the underserved SME customers in the industry verticals of home appliances, tier 2 and tier 3 automobile assemblers, power tool manufacturers and digital appliance manufacturers. CELM offers short term work contracts (30 - 45 days) with quick turnaround time of (2 - 3 weeks) to its customers. The average selling price for the Company's products is 15 - 20% cheaper than their bigger competitors. Trading at less than six times trailing twelve months earnings, the Company trades at a severe discount to its industry peers such as Harbin Electric (15 P/E) and Baldor Electric (43 P/E). We are initiating coverage on CELM with a Buy rating and $10.20 price target.
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OverviewChina Electric Motor, Inc., through its subsidiaries, engages in the research, development, production, marketing, and sale of specialized micro-motor products in the People's Republic of China and internationally. The company offers micro-motors and micro-motor components for various applications in automobiles, power tools, home appliances, and consumer electronics. It provides direct current motors, including brushless motors, brushed motors, servo motors, and gear motors; and alternating current motors, such as single and multiphase motors, universal motors, servo motors, induction motors, synchronous motors, and gear motors. The company also offers drives; and mechanical power transmission products comprising mounted bearings, enclosed shaft mount, helical and worm gearing, bearings, sheaves, and conveyor pulleys. Its mechanical power transmission products are used in various applications and industries, including mining, petroleum, aggregate, unit handling, power generation, and package handling. The company provides its products under the Sunna brand name. China Electric Motor, Inc. sells its products directly to original equipment, automobile, and motorcycle manufacturers. The company is headquartered in Shenzhen, China.
http://www.google.com/finance?q=NYSE:CELM
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