Anta Orders Growth Gross Margin Is Expected To Rise To 38%

Recently, apart from the mainland's telecom industry restructuring and market concern, another focus has been the launching of the Olympic torch relay campaign. It also means that the Olympic Games concept stocks are coming closer to the opening day of the Olympic Games. A number of Olympic concept stocks are more eye-catching, while the sporting goods stocks are more directly benefited, and Anta (2020) has a higher value and higher rate of attention.

Anta sports, which was listed in 07 years, rose 265% in last year's gross profit and increased by 155% annually, with nearly 120 million yuan in interest income. However, even after deducting the relevant effect, profit has increased by nearly 2 times, which is higher than that of prospectus.

Management said that the company had completed the first 3 quarters of 2008, and its business recorded an annual increase of 50%.

Strong performance, mainly by the company in recent years, vigorously expand sales channels, and enhance the average price of products.

The gross profit margin is expected to rise to 38%. By the end of December last year, the group had 39 distributors, of which nearly half had business relations with the group for more than two years.

In addition, the group now has about 4700 sales outlets in the mainland. When the company completed its listing earlier, it increased to 4500 sales points at the end of 07, second only to Lining (2331), which was close to 5700 figures in the same period.

The company plans to add about 600 retail stores to 5300 in total this year.

According to the product classification, the average selling price of footwear and clothing increased by 29% and 15% respectively, driving the gross profit margin of sub items to 33%. The management said that the company has received orders for the first 3 quarters of this year to maintain a strong growth of 50%, while gross margin is still on the rise, and the gross profit margin is expected to further increase to 38% this year.

At present, the consumption of China's sporting goods market accounts for about 0.2% of the gross domestic product, far lower than the level of 1.0%-1.5% in developed countries, and the space for future development is favorable.

According to the survey report, the size of the sports wear market in the mainland is expected to reach US $7 billion 200 million in 2009, and the annual compound growth rate will be 23%.

With the general improvement of national salaries and the increase of consumer confidence, the retail consumption has brought some impetus.

Investors can buy less than 8 yuan, and expect 10 yuan in the middle line target, which is higher than the 8.50 yuan on Wednesday and 17.6% higher than that on 17.6%.

Deutsche Bank favors Liu Fu's return to the 6 yuan six blessing group (0590) in 07/08, the half year net profit increased by 40%. During the period, the sale of gold was reduced by 3% due to the reduction of customers, but the retail business performance was strong, with a more than 36% increase. During the same period, the sales volume of Hongkong business grew 20%, the unit price increased by nearly 12%, and the proportion of jewellery products with higher gross profit margin accounted for the total sales increased, driving the group gross margin to 23.6%.

As the group added 18 more stores in the mainland, while the mainland and Hongkong economy continued to watch, the per capita disposable income increased, and the demand for jewellery, watches and clocks and precious gifts in the consumer market was further increased.

According to the research published earlier by Deutsche Bank, the annual compound growth rate of Lufu in the fiscal year 08 to 2010 will reach 30%, and the risk of falling interest rate is about 13 times earnings and 4 percentage points above. The downside risk is very limited. If the market stabilizes further, it will have the opportunity to return to 6 Yuan Shuiping, which has a further 30.4% increase compared with the market price (4.60 yuan) on Wednesday.