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Tielong Logistics Net Profit Rose For The Three Consecutive Quarter

2011/8/20 8:37:00 37

Under the Ministry of Railways

Railway

In August 19th, the pport company 600125.SH announced the interim financial report in August 19th. The first half of the year achieved 1 billion 320 million yuan in business revenue, an increase of 15% over the same period last year, and a net profit of 281 million yuan, up third consecutive quarters, an increase of 16% over the previous year and a 0.21 yuan of 600125.SH.

Net profit in the first half of this year was 2011, 49% of the expected market consensus throughout the year.

Railway special containers, the company said.

Management

Mode improvement and railway freight pport continue to improve turnover efficiency.

During the reporting period, we accelerated the pformation of the special box business model and actively expanded the whole logistics business. During the reporting period, the business revenue reached 368 million yuan, an increase of 75.62% over the same period last year. The total volume of pmission was 305 thousand and 600 TEU, representing an increase of 17.63% over the same period of 259 thousand and 800 TEU in the same period last year.

However, due to the slow growth of the number of special cases and the steady turnover speed, the pmission of special boxes has slowed down.

Railway freight and port logistics business achieved operating income of 777 million yuan, an increase of 33.95% over the same period last year.

In the second quarter of 2011, the company realized revenue of 749 million yuan, an increase of 31% over the same period last year, a rise of 31% in the annulus ratio, and a net profit of 155 million yuan, up 22% over the same period last year, and the annulus rate rose 24%.

In the first half of the year, the company achieved operating income of 1 billion 320 million yuan, an increase of 15% over the same period last year, and completed a net profit of 281 million yuan, an increase of 16% compared with the same period last year, and EPS was 0.21 yuan.

CICC recently analyzed the company's higher operating leverage, the improvement of its special container business structure and the improvement of its turnover rate.

Gross profit margin

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According to valuetool platform statistics, the company's operating income and net profit continued to rise for three consecutive quarters, and hit a 3 year high.

The realization of EPS (TTM) is 0.39 yuan, corresponding to ROE level is 15%.

The gross profit margin of the company was 33% in the current quarter, down 3 percentage points. The gross profit margin of other railway businesses and port logistics businesses increased by 3.27 percentage points except for 59% of the business.

The company's management fee rate dropped by 1 percentage points to 2% during the quarter.

Tielong logistics is a national network professional railway container pport company. At this stage, it insists on three main industries: special container, sand bar line operation and real estate.

The main development strategy of the company in 12th Five-Year is the continuous development of dry bulk containers, the development of tank pport main bodies (chemical containers) and the active cultivation of refrigerated containers.

For the two expansion and renovation project of the iron dragon logistics Sha Ba railway market, Dong Xiao Chang Xiao Dong told reporters that the project is expected to start in the second half of 2011. If the progress is smooth, it will be completed in the second half of next year.

After completion, the capacity of the Sha mo railway will increase to 8000-8500 tons.

According to the statistics of valuetool platform, a total of 5 institutions in the past quarter have predicted the 2011 EPS of Tielong logistics. The average value is 0.44 yuan, the maximum value is 0.48 yuan, and the minimum value is 0.39 yuan.

These institutions include CICC, Orient Securities, GF Securities (000776.SZ), and Anxin securities, among which CICC gives the company "recommended" rating.

The company completed the net profit in the first half of the year to be 49% of the unanimous expectation of the 2011 market in the whole year.

The closing price of the company in August 18th was 8.86 yuan, down 3.72% from the previous trading day.

The corresponding P / E ratio (TTM) is 22.5 times, and the TTM is 3.3 times.