subject: The Public And Share: Economic Recovery And Strong Strategic Transformation In The Industry Expect [print this page] Public and shares Company is one of the advantages of dyeing and finishing industry, company's main cotton casual fabric research and development, production and Sell The company's core competence lies in its outstanding R & D capability, efficient self- Marketing Sales mode and differential mode of production. Core gross margins over the years the company has been far higher than the average level of printing and dyeing industry, was significantly more than other printing companies have been listed.
Company recently announced 2009 annual growth of 80% year on year in?? 110%, we believe that in addition to the low base in 2008, the industry integrated downstream order to further focus the company and the previous years, sales in foreign markets and gradually expanding markedly is the most important background factors. In addition the export tax rebate rate down the cumulative effect of relatively low raw material prices decline and financial costs are also an important reason for business growth.
In the fabric industry as a more prominent with the development and marketing strengths of the company, the company's future development strategy is the main industry and stronger fabric, fabric business while relying on the brand to the downstream Clothing Field extension. The company's strategic goal is to become the ultimate end brand owners and operators.
In strong primary industry, the company plans to raise funds through private placement for capacity expansion, technological transformation and upgrading of value-added products. SVC, with France Cooperation Fabric will gradually improve the company's main production and management and more resources for the international high-end customers. Also starting in 2010 will also lower the top brands for customers to develop custom boutique line, with "more small, more expensive" to get more efficiency and better marketing unit of linkage effects. In addition to the expansion project to be additional technical innovation, we believe that follow-up companies are more likely to expand through acquisition of production capacity and access to rapid growth in revenue and earnings.
In addition to strong core business, the company's longer-term development strategy is to gradually shift to the lower reaches of branded apparel, the current implementation of the strategy is the implementation of "one-stop 'service. That is relying on material in the field of R & D strengths, while improving Fashion Design level of integration of domestic and foreign resources to domestic downstream enterprises in the high-end brand clothing apparel products directly. We believe that "one-stop" service is for Smith Barney, ZARA and H & M fashion brands such as wheat, while the downstream market capacity is large enough rapid growth is changing the business model the major highlights. Our preliminary estimate from the second half of 2011, the company's business model one-stop service will gradually play a contribution to company profits. In view of the company's competitiveness in the field of fabric and clothing a positive attempt to brand and retail experience, our company extends to the downstream retail brand clothing looking forward to.
We believe that the performance of the company started up in 2010 mainly from the subsidiary of Xiamen, China and India to further improve the self-weight, yarn projects into production markedly, Japan Chi Nigerian brand men's steady growth and additional projects into production. Without considering the additional diluted, we expect the company 2009?? 2011, earnings per share were 0.30 yuan, 0.44 yuan and 0.60 yuan. In accordance with the additional price of 6? 8 a month, the company's future expansion in the 38% equity?? 25%. In view of sub-sectors in the competitiveness and future growth performance, we believe that given its 2011 issuance of 20-fold diluted more reasonable valuation levels, the corresponding price of 8.7 yuan?? Between 9.6 yuan. Present to maintain "neutral" rating. Analysis that follow a reasonable price range of Private Placement 7 yuan.
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The Public And Share: Economic Recovery And Strong Strategic Transformation In The Industry Expect
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