2014 Meng Jie Home Textile Business Sales Hope To Break 200 Million

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"P" > a href= "http://sjfzxm.com/news/index_s.asp" > Meng Jie home textile < /a > recently, when communicating with investors, the company said that online sales in 2013 were 1 hundred million, and in 2014, it hoped to break through 200 million yuan. This year, the company's focus is to break through OTO.

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< p > the company said that the previous planning and operation of the company's electricity supplier were entrusted to the third party, and the company was only responsible for logistics.

This year the company set up a new e-commerce team, are the elite in the industry, professionalism and enthusiasm are very high.

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< p > annual report shows that the company achieved net profit of 98 million 680 thousand yuan last year, an increase of 70.91% over the same period last year. It intends to distribute 5 yuan (including tax) to every shareholder in every 10 shares, and 10 shares in every 10 shares of the capital reserve fund.

In a research report, CICC pointed out that the terminal demand in the first quarter was relatively weak, and estimated that the revenue side of the company declined slightly, and good cost control would enhance its performance.

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< p > < strong > Meng Jie home textile: the profit of the company rises and falls, the increase is significant, and the low base effect has a greater impact. < /strong > < /p >

< p > 2013 Performance Review < /p >

< p > business income and net profit growth both rise and fall, and the low base effect has a great impact.

In 2013, the company achieved a total operating income of 1 billion 423 million yuan, an increase of 18.55% over the same period last year.

Net profit attributable to parent company was 99 million yuan, an increase of 70.91% over the same period last year.

Earnings per share were 0.65 yuan.

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< p > main brand: Meng Jie and a < href= > http://sjfzxm.com/news/index_s.asp > brand > /a > rise and fall, baby and plain aesthetics increase significantly, seeking brand decline slightly.

The growth rate of the traditional advantageous regions increased steadily, and the northeast, southwest and Southern China regions were significantly increased by the low base number.

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< p > gross profit margin increased slightly, and cost control effect was less than /p.

< p > the consolidated gross profit margin of the company was 44.19%, a slight increase of 0.77 percentage points over the same period last year.

Net interest rate was 6.9%, a 2.1 percentage point increase over the same period last year.

During the period, the cost rate declined and the cost control effect gradually emerged.

In 2013, the cost rate was 34.65%, down 2.27 percentage points over the same period.

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< p > inventory accounts for a decrease in income, and accounts receivable account for an increase in income.

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< p > core points and investment recommendations < /p >

< p > 1, the overall judgment of < a href= "http://sjfzxm.com/news/index_s.asp > > Home Textiles < /a > industry: from 2.5 to 3 stages, in a rapid development period.

We think the market of home textile market is very large and enterprises have very good development opportunities.

2, brand classification planning is constantly strengthened, will further clarify the different positioning and different styles of different brands.

3, marketing channels continue to expand, create three-dimensional marketing channels, supply chain management level is rising.

4, improve management performance, compress cost and cost.

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< p > investment suggestion: we are optimistic about the huge market space brought by the upgrading of consumption and the development of urbanization to the industry. At the same time, we hope to realize the comprehensive advantages of our brand, product structure, marketing and management, and achieve steady growth.

We expect the company's 2014-2016 years EPS to be 0.72, 0.84, and 0.94 yuan respectively, giving a "buy" rating.

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< p > risk warning < /p >

< p > the cost of production factors such as raw materials and labor has risen, and the terminal consumer market has been depressed for a long time.

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