By TX Investment Consulting Co., Ltd.
- Jul 21, 2011
- Food & Beverage
Residents’ income increases while industrial growth is stable. After reviewing income and profit of each sub-industry, we notice that sub-sector of food industry saw relatively stable growth in income and profit during recent 10 years. Since China is adjusting its economic structure, and residents’ income is increasing in order to expand domestic demand by promoting .......
By TX Investment Consulting Co., Ltd.
- Jun 9, 2011
- Food & Beverage
As of the end of 2010, building area of assorted land equity of the tourism integrated business was 6.628m square meter, and that of real estate was 2.3376m square meter, with the total at 8.9656m square meter. According to annual settlement speed of 0.5m square meter and average annual growth rate of 30%, the project .......
By TX Investment Consulting Co., Ltd.
- May 24, 2011
- Food & Beverage
During last week, Shanghai and Shenzhen stock market downwardly fluctuated. Shanghai Composite Index saw 0.44% decline; viewed from TX industry, market hotspot was in non-periodic industries like food & beverage, electrical appliance and communication. Viewed from configuration, we suggest emphasis be put on individual shares of weak periodic plate with steady profitability and relatively low .......
By China Galaxy Securities Co.Ltd.
- May 10, 2010
- Tsingtao Brewery Company Limited
Key Standpoints:
1. Brand structure upgrade is the main driving force for future long-term performance growth; increasing market share is the core driving force in longer term to decrease operating ratio in monopolistic pattern.
2. The company puts emphasis on operation (exterior) and management (interior), which not only boosts short & medium-term profitability, but also further consolidate .......
By TX Investment Consulting Co., Ltd.
- Apr 30, 2009
- Tsingtao Brewery Company Limited
In Q1 2009, the company reported business turnover of Rmb3813mn (+6.43% yoy), operating profit of Rmb262mn (+15.45% yoy), net profit attributable to shareholders of listed company of Rmb199mn (+53.83% yoy), and basic EPS of Rmb0.15.
Earning forecast and rating: When fundamental situations turn up, market proportion of the company’s main brand products improves and real income .......
By TX Investment Consulting Co., Ltd.
- Apr 15, 2009
- SDIC Zhonglu Fruit Juice Co., Ltd.
The company unveiled its annual report: In 2008, it achieved operating revenue of Rmb1.361bn (-11.47% yoy), operating profit of Rmb110mn (+5.16% yoy), net profit attributable to shareholders of parent of Rmb75.1138mn (-8.73% yoy) and basic EPS of Rmb0.41, which was above our expectation; besides, the company proposed dividend distribution of pretax Rmb1 cash for every .......
By China Galaxy Securities Co.Ltd.
- Apr 10, 2009
Event
The company issued 2008 annual report today.
During the period under view, the company realized business turnover of Rmb3.45bn (+26% yoy), net profit attributable to shareholders of parent of Rmb890mn (+41% yoy), and diluted EPS of Rmb1.70.
Our Analysis and Estimation
The company plans to promote its brand image with “high-end strategy” and to .......
By China Galaxy Securities Co.Ltd.
- Apr 9, 2009
- Tsingtao Brewery Company Limited
Event:
The company released 2008 annual report today.
During the period under view, the company realized operating revenue of Rmb16bn (+17% yoy), net profit attributable to shareholders of parent of Rmb700mn (+25% yoy) and diluted EPS of Rmb0.53; if non-recurring profit and loss deducted, net profit attributable to shareholders of parent pegged at Rmb600mn (+40% yoy).
Our Analysis .......
By China Galaxy Securities Co.Ltd.
- Apr 1, 2009
- Food & Beverage
Gap concerning capital recognition is likely to emerge between administrative & commercial and individual consumption goods in Q2 2009 and it will sustain for several years.
Key factor for performance smoothness is scattered from Mautai to other bellwethers, which triggers change in industrial growth expectation, and market hotspot is also transferred, thus investors will .......
By TX Investment Consulting Co., Ltd.
- Mar 31, 2009
- Bright Dairy & Food Co., Ltd.
In 2008, the company realized business turnover of Rmb7359mn (-10.33% yoy), operating profit loss of Rmb488mn, net profit attributable to parent of Rmb-2.86mn, and EPS of Rmb-0.27, which were below our expectation. The company planned no profit distribution plan or reserves-equity transference plan.
In view of a rapid recovery, we predict its 2009-2010E EPS to be .......