Category: Money tips Release Date: 2006-06-16
Chongqing Department Store Group, the future will become a trading company in Chongqing's overall listing platform. Trading Company Group was established in 1996, is the flow of western China's largest industrial group, is supporting the 20 national key large-scale circulation enterprises, the only western company. In 2006, the trading company the size of group sales break 18 billion (of which 12 billion department store revenues, household appliances more than 20 million and the supermarket 3 billion), operating 221 outlets, business area of 880,000 square meters.
Trading Company Department Store Group, under the new century, Chongqing Department Store and commercial appliances in Chongqing market accounts for 50% market share, along with the development of Chongqing's economy, a strong regional groups are expected to share the leading trading companies in Chongqing's economic growth. In the extension and expansion, with consumption habits of the regional market knowledge, trading companies are expected to great efforts to develop the next group of Sichuan market. The connotation and extension of growth, the growth performance of the company is expected to constitute a double motivation.
Chongqing Department Store 07 and in 2008 opened 3-5 at home each year department stores, 12 supermarket stores, four electrical outlets. In order to open five department stores per year basis, the company's 06-08 annual net capital gains rates were 13.9%, 14.12% and 15.23%, earnings per share, respectively 0.43,0.48 and 0.56, net profit compound growth rate of 14.23%. Consider issuing more and the overall performance of listed company earnings and the growth of the pulled up, we believe that given the company in 2008 about 35 times PE ,18-20 dollars more appropriate pricing.
As the current stock price higher, has passed the company will not pose additional dilution (the amount of lock-financing), while additional programs in this communication and road shows, the company will make a statement on the overall listing of the program, consider the assets of major shareholders and converted into shares of major shareholders do not want to stock up now, while the outstanding shares of major shareholders in a contradictory state of mind, stock prices are too high, a major shareholder assets assessment too high a price the company's long-term development of the negative, so we believe that before the company announced the issuance of additional programs not be the best stock price performance. Long-term investors should now firmly holding and the holdings, short-term investors can be involved in such programs clearer.
Company risk primarily listed as a whole the program does not specifically identify risks. Out of Chongqing in Sichuan, the risk of pre-expansion. Performance reflects the rapid expansion has brought the risk of lagging behind. After listing a whole run-the risk management team.
Investment Advice and the timing
As the current stock price higher, has passed the company will not pose additional dilution (the amount of lock-financing), while additional programs in this communication and road shows, the company will make a statement on the overall listing of the program, consider the assets of major shareholders and converted into shares of major shareholders do not want to stock up now, while the outstanding shares of major shareholders in a contradictory state of mind, stock prices are too high, a major shareholder assets assessment too high a price the company's long-term development of the negative, so we believe that before the company announced the issuance of additional programs not be the best stock price performance. Long-term investors should now firmly holding and the holdings, short-term investors can be involved in such programs clearer.
Risk Warning
1, short-term risk is that the program does not specifically listed as a whole to determine the risk.
2, rapid expansion has brought the performance to reflect the risk of lagging behind.
3 out of Chongqing in Sichuan, the risk of pre-expansion.
4, the overall post-marketing risk management team of the run-in.
