anybody looked into the research? eps 2011e: 0,58 eps 2012e: 0,74 eps 2013e: 0,94 target price on pe multiple of 4x2012=> USD 2,90 The equity finance option has expired and was not renewed. so no dilution visible in the earningsmodell with improving cash flow given. It should give CKGT a push with the full year earnings