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Yuyuan Group: Prominent Brand Effect

2010/8/24 20:02:00 37

Hong Kong stocks remained narrow last week.

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A week's cumulative Hang Seng Index fell slightly by 0.4%, while the national index increased by 1.2%, and the average daily turnover narrowed to 57 billion 100 million yuan a day.

The US economic data are weaker than market expectations, making investors worry whether the global economy will have a double dip recession, coupled with the mainland's continuous regulation and control of real estate and tightening the supervision of bank trust products, which weakens the positive impact of business performance.

It is expected that there will be a clear breakthrough in the mainland market before easing the tightening policy.

Until then, the trend of Hong Kong stock leather is expected to continue, and the Hang Seng index continues to consolidate between 20600 and 21300.

Stock recommendation: Yuyuan group (00551-HK) is a company.

investment from Taiwan

Enterprises, the world's largest international brand sports shoes and casual wear shoes.

Manufacturer

Its global footwear brand customers include Nike, Adidas, Reebok, Converse, New Balance, Timberland, Puma and Asics.

The group also operates retail and wholesaling sporting goods in the Chinese region.

The group posted a net operating income of $530 million in July, a year-on-year increase from 23% in June to 23%, and a cumulative net income of 3 billion 410 million US dollars in the first seven months, with an annual increase of 18%.

The world cup and the Asian Games, which will be held in November, will speed up the sale of sporting goods, and the global sporting goods providers will also need to rebuild their stocks.

Yu Yuan raised about $700 million from loans and IPO. The proceeds would be used as general working capital and debt repayment to reduce financing costs and improve the financial position.