• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Roley Home Textiles &Nbsp; Tax Rate Rise Affects EPS3%

    2010/6/24 18:56:00 20

    Home Textile

      

    Home textile

    002293 the change of tax rate in the textile and apparel industry resulted in a quarterly supplement of corporate income tax for 09 and 10 years, which had little effect on net profit. The EPS in the 09 year after adjustment was reduced by 5%, and EPS in the first quarter of 10 decreased by 3%.

    Originally, the company enjoyed preferential income tax rate of 20% and 22% in 09-10. Now it needs to declare according to the unified income tax rate of 25%, and retroactively adjust the 09 and 10 year first quarter results.

    It is estimated that the increase in corporate tax rates in the 09 and 10 quarters of the year will result in an increase of 7 million 500 thousand yuan and 1 million 230 thousand yuan in the cost of corporate income tax, which will reduce EPS by about 5% and 3% respectively.

    We expect that the adjusted 09-12 EPS will be 1.03/1/38/1.84/2.34 yuan (originally 1.08/1.42/1.87/2.34), which has little effect on the net profit of 09 and 10 years, with a drop of 5%.


    Because of 09 years

    EPS

    The base number also decreased, and the growth rate for 09 years increased from 31.5% to 34% in 10 years.


    In the long run, it is still optimistic about the future development of home textile industry and the rapid growth of Roley home textiles.

    Although the adjustment of income tax rate reduced EPS by 3% in 2010, it did not affect our judgment of the fundamentals of the company.


    The home textile industry has entered the "golden ten years" of brand development. As a leading enterprise in the industry, the home textile industry has been able to get faster growth than the industry's average growth rate based on its brand, marketing and channel advantages.

    We expect the company to achieve a compound growth rate of 22.5% and a compound profit growth rate of 31.5% net profit in 09-12.

    From the valuation point of view, after 10-12 years of adjustment, EPS is 1.38/1.84/2.34 yuan, corresponding to 10-12 years PE is 39/29/23 times, and the short-term valuation is relatively high. But considering its industry space and rapid growth, it is still optimistic about the company in the long run.


    Risk: it's too hot this summer.

    Summer quilt

    Sales have some impact; the reduction of real estate volume may have a lagging effect on home textile terminal sales, but the rapid expansion of stores will make up for the effect of Ping effect on revenue.

    • Related reading

    Nanhua Finance: Bosideng Will Have A Good Growth This Year.

    financial news
    |
    2010/6/24 18:52:00
    41

    Cotton Upward Trend Unchanged

    financial news
    |
    2010/6/24 18:47:00
    30

    PTA面臨三高:“高利潤高負荷高過剩”

    financial news
    PTA
    |
    2010/6/24 18:44:00
    35

    YOUNGOR: Good Data To &Nbsp, Full Of Power.

    financial news
    |
    2010/6/24 18:34:00
    33

    Central Enterprises Integration Deadline Is Approaching &Nbsp; Restructuring Stocks All The Way Up All The Way Up.

    financial news
    |
    2010/6/23 19:15:00
    35
    Read the next article

    The Fashionable Upgrades Of The Shorts Are &Nbsp; (Pictured)

    A high waist hot pants, waistline pants and long pants shrink. For shorts, this summer must have a single product, you really can not expect it to bring you a surprise. But you don't have to give up the fun of exploring new ideas. You know, despite all the changes, the innovations in the minutiae still provide new reasons for buying shorts this season. You can not stick to it.

    主站蜘蛛池模板: 国产亚洲成AV人片在线观看| 曰皮全部过程视频免费国产30分钟 | 欧美亚洲综合网| 国产色婷婷精品综合在线| 亚洲福利一区二区三区| 久久久久九九精品影院| 青青草91久久国产频道| 欧美日韩国产亚洲一区二区三区 | 真实乱小说在线阅读| 女性一级全黄生活片在线播放| 免费看特黄特黄欧美大片| www.99re| 波多野结衣全部系列在线观看| 国产麻豆成人传媒免费观看 | 中文字幕三级电影| 精品国产福利久久久| 日本精品少妇一区二区三区| 国产全黄a一级毛片视频| 久久亚洲AV无码精品色午夜麻豆 | 韩国成人在线视频| 欧美综合自拍亚洲综合图片区 | 久久婷婷成人综合色| 色宅男午夜电影在线观看| 性欧美大战久久久久久久| 免费无码又爽又刺激高潮的视频| 99这里只精品热在线获取| 精品视频麻豆入口| 好男人在线观看高清视频www| 含羞草传媒旧版每天免费3次| 久久精品一区二区三区日韩| 蜜臀AV在线播放| 日本特黄特色aaa大片免费| 国产AV无码国产AV毛片| 久久久噜噜噜久久中文字幕色伊伊 | 成年人的免费视频| 国产一级毛片卡| 久久久99视频| 精品久久久久久无码中文字幕一区 | 亚洲成Aⅴ人片久青草影院| a大片大片网y| 男女性色大片免费网站|