Roley'S Home Textile Performance "Changed Face" Led To Heavy Pool Fund Collective "Trick"

Late July 10th, Luo Lai

[62.18 -1.58%] (002293.SZ) issued a semi annual performance forecast amendment notice, which adjusted the company's first half net profit forecast for the first half of 2012 from a year-on-year increase of 0-30% to a year-on-year decline of 0-30%, and estimated net profit from 162 million -2.1 billion to 114 million -1.62 billion.

The above announcement is attributable to macroeconomic and internal management factors, as well as other factors such as the increase in other costs over the same period, the increase in government revenue and less than the same period in the government.

In July 11th, Luo Lai home textile opened at the beginning of the day, with a drop of 7.19 yuan, or 10% yuan, and finally closed at 64.7 yuan, which also hit the biggest one-day drop since its listing, and the market value evaporated 1 billion 87 million.

Wang Wei, chief analyst of the textile and garment industry of [11.15 0.27%], exclaimed: "a company with its own fast growth has encountered some problems. The market's expectations have been very low, and it is still less than expected."

There are also unexpected funds for those who are heavily loaded with home textiles.

Heavy duty fund collective move

As a matter of fact, since the landing of small and medium-sized boards in 2009, Luo Lai home textile has always been the target of big funds.

Announcements in the past 9 quarters show that the top ten tradable shareholders have more than 7 seats in the fund.

Among the top ten tradable shareholders in the first quarter of 2012, there were 8 funds and 1 brokerages, respectively, for the steady return of Cathay Pacific gold horse, [0.71 0.85%], Yi Fangda's active growth of [0.82 1.18%], rich country Tian Hui selected growth, [1.14 0.57%], Yi Fangda 50, Jintai certificate voucher, GF preferred [1.34 0.63%], GF, [0.67 1.40%] and Orient Securities.

And in the announcement of the mine, they also moved in.

Cathay Pacific gold horse steady return from the 1 quarter of 2011 began to build 1 million 180 thousand shares, then gradually increased, to the 1 quarter of 2012 has held 3 million 20 thousand shares, according to the company's interval average price, the cumulative investment of 225 million.

According to Roley's home textile closing price at the end of March, it still loses 6 million 530 thousand.

If the 11 day falls, it will float 28 million 240 thousand.

There are also serious losses in Jintai securities and orient.

And Yi Fang Da 50 index [0.65 0.43%] fund, respectively float 530 thousand, 9 million 490 thousand and 19 million 580 thousand respectively.

And this time the thunder "hurt" the heaviest non - extensive fund.

There are 3 million 660 thousand shares in Guang Fa group, Guang Fa strategy and Guang Fa Ju Feng. After this fall, they will lose 51 million 410 thousand.

According to the statistics of reporters, Guang Fa Ji Fu was settled in the 3 and 4 quarter of 2011 when the stock price was at a historical high. The GF strategy and GF were newly joined in the 1 quarter of 2012.

The Yida Fonda Growth Fund and the rich country Tian Hui selection growth fund, which have long been established in the home textile industry, were saved by the early growth. The yvfonda Growth Fund made a profit of 14 million 10 thousand. The rich country Tian Hui selected growth fund and its cash in the 3 and 4 quarters of 2011 earned a profit of about 45 million 930 thousand yuan.

Roley's home textile 11 day turnover also exceeded the 9 month historical high point, achieves 103 million.

At the same time, dragon tiger list data show that the top five sales of the 11 days are five yuan.

According to the 11 day limit price of 64.7 yuan conversion, agencies fled 1 million 15 thousand and 400 shares.

Differences in performance

Roley, a top executive who did not want to be named, attributed the sudden change of performance to the adjustment of the sales team.

"Sales are not ideal, but the related costs have not decreased."

Wang Liping, an analyst at Shenyin world [2.20 0.00%], also believes that the problem lies in sales.

"The growth of retail terminals is weak, the pressure of channel inventory is large, and the enthusiasm of franchisees to take delivery of goods is reduced.

Although the two quarter retail terminal has improved over the first quarter, considering that the 2 quarter is the highest year-round performance, the higher base results in the two quarter improvement than in the first quarter. "

Wang Liping pointed out.

A person who has already left Luo Lai home textile does not agree with this. "The impact of sales adjustment will not be so great that it will not have much impact on the overall performance. After all, his strong channel culture has been formed for many years.

In fact, the performance of the whole industry is poor in the first half of the year, and the earnings of home textile listed companies will not be very good.

He also said he was not optimistic about mercury that had already passed.

"When the income growth rate is relatively low, the development strategy of" counter expansion "causes the cost pressure in the first half of the year is particularly prominent, which is more obvious than that of fuanna [44.45 -0.11%. The increase in the cost exceeds the income growth, leading to a decline in net profit growth over the same period," said Lei Yu, an analyst at [8.51 -0.58%.

In 2012, under the backdrop of the growth rate of the industry, the planned 600-900 new stores in the whole year were up to 25%-40%, and a large number of new employees were recruited at the beginning of this year.

However, the analysts are still optimistic about the development of the home textile market. "The second half will be better than the first half."

A private person on Shang Chuang Xin De, however, disagrees. He pointed out sharply: "in the second half of last year, the downward trend of consumption has been seen. The industry analysts have refused to recognize the cycle. How can the consumer goods such as home textile durable consumer goods and real estate related products be cyclical? The base price of the channel is not more than 70 percent off, and it started to be below 50 percent off clear six months ago.

How could retail sales be better in the first half of this year?