Main points of investment
This Thursday (September 1) there is a main board listed company "Zhejiang Zhengte" inquiry.
Zhejiang Zhengte (001238): the company is engaged in R & D, production and sales of outdoor leisure furniture and supplies, and now has two product series of sunshade products and outdoor leisure furniture, in which sunshade products mainly include awnings and umbrellas. Outdoor leisure furniture mainly includes pet houses, outdoor furniture and drying utensils. From 2019 to 2021, the company achieved operating income of 675 million yuan / 910 million yuan / 1.24 billion yuan, YOY of-4.13%, 34.83%, 36.28%, 20.77%, 20.77%, respectively, and realized net profit of 42 million yuan / 80 million yuan / 108 million yuan, YOY of-12.97%, 92.87%, 34.08%, and 31.05%, respectively.
During the latest reporting period, 2022H1 achieved an operating income of 882 million yuan, an increase of 31.04% over the same period last year, and a net profit of 64 million yuan, an increase of 13.41% over the same period last year. The company initially expects to achieve a net profit of 83.7032 million yuan to 92.4101 million yuan from January to September 2022, an increase of 3.23% to 13.97% over the same period last year.
Investment highlights: 1. The company is one of the earliest enterprises engaged in outdoor leisure furniture and supplies industry in China, and has established a relatively complete business system of outdoor leisure furniture and supplies. Founded in 1996, the company is one of the earliest enterprises engaged in outdoor leisure furniture and supplies industry in China, and has accumulated certain advantages in sales channels, production management and quality control over the years. At present, the company is one of the most complete manufacturers of outdoor leisure furniture and supplies in China, with two product series of sunshade products and outdoor leisure furniture, in which sunshade products mainly include awnings and umbrellas. Outdoor leisure furniture mainly includes pet houses, outdoor furniture and drying appliances. The company's products are mainly sold to European and American markets. With the advantages of R & D and design ability and product quality, the company has entered the supplier system of large supermarket chains such as Walmart Inc and Costco Wholesale Corp. 2. The company pays more attention to the original design of products and has strong ability of product design and research and development. The company has been committed to independent product research and development, with a high level of technical research and development and strong product research and development capabilities. as of the end of 2021, it has 115 domestic patents (including 6 domestic invention patents), 24 overseas invention patents and 172 overseas designs. The company has outstanding original design ability, and its product design has won a high honor of innovative design in the industry, including winning the "innovative Design Award" of the SPOGA International Fair in Cologne, Germany in 2005 and 2009, and the "Red Dot Award" of the international Oscars in the design field since 2013.
Compared with listed companies in the same industry: the company is engaged in R & D, production and sales of outdoor leisure furniture and supplies. According to the similarity of business, Zhejiang Yongqiang is selected as a comparable listed company. According to the above comparable companies, the revenue of the same industry in 2021 is 8.151 billion yuan, and the gross profit margin of sales is 14.13%. Relatively speaking, the revenue scale of the company is smaller, but the gross profit margin is ahead of the same industry companies.
Risk hint: companies that have started the inquiry process still have the possibility of not being listed due to special reasons, the company content is mainly based on prospectuses and other public materials, and the selection of listed companies in the same industry is not accurate. Risk, content data selection may have interpretation deviation, specific listed company risk is displayed in the text content, and so on.
