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Channel Expansion Of Meng Jie Home Textile Promotes Industrial Growth

2010/7/12 18:32:00 74

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According to the latest statistics of WIND information,

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Home textiles this year, an undistributed profit of 3.2517 yuan per quarter, a quarter earnings per share of 0.32 yuan, net profit in the first half of 2010 is expected to grow by 40%-60%.

The high growth of performance and the high reserve of undistributed profit per share make its dividend potential possible.

The share price rose 6.91% in the week ahead of the Shanghai Composite Index.

Expand capacity + channel expansion: companies raise funds by 1781

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State securities 13.73+0.100.73%

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Home textiles 54.86-1.12-2.00%0 million yuan investment in the new annual production of 300 thousand sets of bedding decorations and 800 thousand core production lines, after the completion of the company bedroom decoration kit production capacity will reach 543 thousand and 800 sets, the core class capacity reached 1 million 309 thousand and 300, the estimated annual sales revenue of 500 million 200 thousand yuan, the new profit of 42 million 810 thousand yuan.

R & D advantages: as of the end of 2009, the company has gained more than 200 patents, and it is the largest intellectual property company in the industry.

The company has launched 600 new products every year, with more than 30 thousand sales of more than ten items, creating a sales record for bedding products.

China Daily report: the July 6, 2010 announcement indicates that the net profit attributable to the parent company's owners in 2010 1-6 is up 40%-60% over the same period last year.

Performance in the same period last year: net profit attributable to parent company owners was 21 million 360 thousand yuan, and basic earnings per share were 0.45 yuan.

The reason for the change in performance is the reporting period. The company's main business has been steadily growing, its product structure has been gradually optimized, and its internal management has been continuously strengthened, so that the company's performance has changed drastically over the same period last year.

State Securities believes that the home textile industry has broad market capacity and high growth in the next few years.

Meng Jie home textile accelerated the expansion of sales network and led to the growth of performance. The net profit of the company in the 2010-2012 years was 96 million yuan, 128 million yuan and 167 million yuan respectively. The growth rate was 8.02%, 33.4% and 30.9% respectively. After deducting the non recurring gains and losses in 2009, the net profit growth rate was 57.7% in 2010. The earnings per share were 1.519 yuan, 2.027 yuan and 2.653 yuan respectively.

The company's net profit growth in 2010 excluding non recurring gains and losses is more than 50%, and the net profit growth rate in 2011-2012 years will exceed 30%. Therefore, the company will give the company 38-43 times earnings in 2010, corresponding to the stock price of 57.7-65.3 yuan, and the current stock price is 53.76 yuan, giving the "buy" proposal.