Brief comment
The recent performance of Coconut Island in Hainan is eye-catching, and it has risen strongly today. We are the only seller in the market to track Coconut Island in Hainan. At present, the company stands in the tuyere of "transformation and upgrading + system flexibility + great health". It is suggested to pay active attention to the first target price of 20 yuan. Once again, our logic:
The main results are as follows: (1) the equity relationship is straightened out and the background of the new actual controller is strong.
With the transfer of all the shares held by Haikou City SASAC to Hainan Jiantong in March this year, and the withdrawal of the original two shareholders "Baoan system" last year, the equity relationship between Hainan Coconut Island has finally been straightened out, and a new management team will be set up. China Jianyin Investment naturally becomes the actual controller of the company, and its excellent industrial investment strength will provide a strong guarantee for the future development of the company.
(2) transform and upgrade, improve the system and mechanism, and stimulate the vitality of all parties.
Through this additional offering, the company will complete the work of employee shareholding and the consistency of the interests of strategic dealers, further improve the market-oriented ownership structure and institutional mechanism, effectively solve the problem of employee motivation, and the enterprise is expected to coruscate.
(3) return to the main business and make the health wine bigger and stronger.
The company has been committed to the production and sales of health wine, which belongs to the field of health. China has gradually entered an "aging" country. As an advantage product of traditional health care, its health-preserving effect is well known by consumers and has a broad market space in the future. Hainan deer tortoise wine is the company's star product, used to be the first health wine brand, the market foundation is still there, there is no lack of market operation team, but for many years due to the company's strategic swing and insufficient market investment, the sales scale is stagnant. At present, the company has strengthened its determination to strengthen the main business. With the fund-raising in place and the establishment of a new marketing system, health wine will soon be back on track, which is expected to bring Hainan Coconut Island into a period of rapid growth.
(4) sitting on the resources, the big health industry will have a lot to see in the future.
Located in Hainan, there are many local specialty foods. In 2011, the company established Coconut Island Ecological Agricultural Beverage Co., Ltd., hired consulting agencies to carry out strategic planning, introduced Wa and other market sales talents, and decided to take "Coconut Island" coconut water as the main product. strengthen the in-depth development of markets such as Jiangxi, Fujian and Jiangsu. At the same time, develop 1 liter of coconut milk to supplement the market gap. Sales exceeded 50 million in 2014 and are already profitable and are expected to achieve double-digit growth this year. This is the first step for the company to enter the big health industry. Making use of Hainan's local resources, the company has broad prospects for future integration.
Earnings forecast and valuation: we forecast that the EPS for 15-17 years will be 0.14,0.38 and 0.69 yuan, taking into account the company's rapid growth, give a 16-year price-to-earnings ratio of 50 times, maintain the "buy" rating, highly recommended.
