share_log

【华泰证券】紫光古汉:控股股东增持,彰显对公司前景的信心

華泰證券 ·  Dec 3, 2012 00:00  · Researches

Incident: The company issued an announcement on December 1, 2012, stating that the company's controlling shareholder, Beijing Ziguang Venture Capital Co., Ltd., a wholly-owned subsidiary of Ziguang Group, increased its holdings of the company's 119,250 shares through the Shenzhen Stock Exchange trading system on the two trading days of November 28 and 29, 2012, accounting for 0.05% of the company's total shares. The price range for the increase was 8.04-8.14 yuan per share. Furthermore, according to market conditions, the stakeholders of Ziguang Group and Ziguang Group plan to quit the bulk trading system through the centralized bidding system of the Shenzhen Stock Exchange and continue to increase their holdings of the Company's shares within the next 12 months. The minimum cumulative increase in holdings was less than 1 million shares, and the highest was over 5 million shares (including the shares already increased). Demonstrating the controlling shareholders' confidence in the company's prospects: In 2009, the controlling shareholder Ziguang Group made adjustments to the company's management, firmly focusing on the development strategy in the field of traditional Chinese medicine health with “Guhan Health Essence” as the core, focusing on solving problems left over from the company's history, gradually divesting non-core assets, strengthening internal management control, and putting the company back on the path of growth. Revenue from Guhan Health Essence has hovered around 100 million yuan for 9 years, and has also risen to 250 million yuan in 2011. Considering that after getting rid of the Nanyue Pharmaceutical Factory, the company is making efforts to promote the return of value of Guhan Health Essence and promotion within and outside the province, and that Guhan Health Essence has the potential to become a major health brand. At this time, the controlling shareholder's increase in holdings shows that they are optimistic about Guhan Health Essence's prospects, and also strengthened our confidence in the company's development over the next 2-3 years. Sales of Guhan Health Essence picked up in the fourth quarter: In the third quarter, the company imposed product control on Guhan Health Essence, which affected the current season's business. The latest information from the company indicates that sales of Guhan Health Essence have returned to normal, and the growth rate is expected to be between 15% and 20% throughout the year. At the same time, the company's application to increase the maximum retail price of Guhan Health Essence is expected to be approved by the end of this year and early next year, which is expected to open up a channel to increase the price of health essence and further increase the market space for health essence. Profit forecast: We maintain the company's 12-14 EPS of 0.85, 0.45, and 0.63, respectively, and our main business at 0.32, 0.45, and 0.63, respectively. Considering the growth space of wellness, we maintain the company's “increase in holdings” rating. Risk warning: The company's price increase progress is lower than expected

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment