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Leather Market Expands Rapidly In Ningbo City

2010/8/23 10:53:00 75

August 23rd news, events:

Haining

In the first half of 2010, [40.01-3.94%] issued a 559 million 100 thousand yuan operating income, an increase of 107.24% over the first half of the year, a profit of 159 million 790 thousand yuan, an increase of 183.72% over the same period last year, a total profit of 160 million 70 thousand yuan, an increase of 122% over the previous year, a net profit of 119 million 960 thousand yuan attributable to shareholders of listed companies, an increase of 133.89% over the previous year, and a gain of 0.45 yuan per share, an increase of 87.5% over the same period last year.

Comment:

High income growth mainly comes from the sales revenue of shops.

During the reporting period, the rapid growth of company revenues was mainly due to the fact that

The city of leather

The eastern phase of the three phase of the project confirmed that sales revenue was 309 million 760 thousand yuan, accounting for 55.5% of the reporting period, up 257.42% compared with the same period last year. Other businesses such as shops and supporting property leasing, hotel services and merchandise sales increased by 30.4%, 28.64% and 43.48%, respectively.

Lease

Increased area and higher rent level.

The gross profit margin increased and the cost rate decreased.

During the reporting period, the gross profit margin of the company rose by 7.87 percentage points compared to the same period last year. The gross profit margin of the hotel service business increased by 57.49 percentage points compared with the same period last year, mainly because of the large investment in the start-up cost of the hotel when it opened last year, and the relatively stable expenditure in the reporting period. The company's annual expenses increased by 48.87% over the same period last year. However, due to the large increase in revenue, the period cost rate dropped by 2.61 percentage points over the same period last year, making the company's operating profit increase higher than that of the revenue growth.

The expansion of quality emphasizes the growth of performance.

The company's external expansion project will become a profit growth point for 10 years. The three phase, Tong Er Bao and the four fur city will continue to contribute to the revenue in the second half of the year. Therefore, the income of the leasing business will increase in the second half of the year. In addition, the Oriental Art Hotel and the Xinxiang Leather City Project in Henan will start to make contributions in the next 11 years, which will ensure the fast growth of next year's performance.

Give a "cautious recommendation" rating.

With the rapid growth of the company and the possibility of rents rising, the future performance is expected to grow rapidly, but the company is now highly valued and given the "prudent recommendation" rating.