Semir Apparel Net Profit Fell Nearly 40% Of Inventory Difficult To Digest

Financial reports show that

Operating income in 7-9 months was 2 billion 100 million yuan, down 5.53% compared to the same period, 1-9 yuan in the month was 4 billion 611 million yuan, down 11.86% compared with the same period last year. The net profit attributable to shareholders of listed companies was 225 million yuan in 7-9 months, 39.24% lower than the same period last year, 1-9 yuan in the 1-9 months, and dropped by 225 million.

Compared with the company's competitor, the United States, which released its earnings.

Look, the net profit of the two companies both fell year by year, while the 13.4% of US bond clothing was slightly better than that of Semir.

In September 25th, Semir clothing also received 55 million 879 thousand and 900 yuan of government incentive funds.

In terms of inventories, the company said that inventories of new products were increased by 31.28% to 1 billion 439 million compared with the beginning of the year.

Before this, although the stock of American bond has slipped, compared to 1-9 yuan's revenue of 7 billion 199 million yuan, the stock of 2 billion 199 million yuan is also relatively large, and the pressure of Semir clothing inventory may be even greater.

Visible how to digest huge inventory, for the industry is a common problem.

As Semir's clothing increased due to the increase in the over season inventory, it made provision for more inventory depreciation, resulting in a 156.67% increase in the company's asset impairment losses over the previous year.

Similar to the net cash flow generated by the business activities of the 648.3% increase in the US apparel industry, the value of Semir clothing has also increased significantly, up by 253.19% over the same period last year. The company said the increase in interest income generated mainly from the rational use of funds and the receipt of larger government subsidies.

While in

While the industry is sluggish, companies are looking for a new way out. The real estate industry seems to be the same choice. When Lining is ready to enter the real estate industry, Semir clothing also has invested.

In September 5th, a plot of Wenzhou was awarded by the China Resources Land Limited and other Consortium at a price of 754 million yuan, and the boss behind the conglomerate was Semir group and Huarun group.

At this joint weight

Accounted for 49% shares, Huarun accounted for 51%.

According to WIND data, as of October 23rd, 11 organizations made forecasts of Semir apparel's 2012 annual performance, with an average forecast net profit of 988 million yuan. According to this forecast, the net profit of the company will decline by 19.27% in 2012.

In September 20th, Huatai Securities issued a research report that the leading position of the company was difficult to shake, and short-term performance was under pressure.

This round is expected.

Shuffling will make time and resources for the company's adjustment.

But the short-term performance is indeed under pressure, and the annual income and net profit are expected to be difficult to correct.

Maintain "neutral" rating.

According to statistics from the valuetool platform, a total of 8 institutions in the past quarter predicted Semir clothing 2012 EPS, with an average value of 1.43 yuan, a maximum value of 1.64 yuan, and a minimum value of 1.187 yuan.

These institutions include CICC, Huatai Securities, and Everbright Securities, among which CICC gives the company a "neutral" rating.

The net profit of the company in the first three quarters was 2012, and the market consensus was 49%.