Main points of investment
Event: on June 6, 2017, the 55th meeting of the eighth board of directors of the company examined and adopted the "proposal on signing the Cooperation Agreement with the people's Government of Pengzhou City on the Cooperation of Gexianshan Sports and Leisure Town". Pengzhou Municipal Government and Rhine Sports will jointly promote the construction of Gexianshan sports and leisure town in "Pengzhou, China".
New resources are added to the field of "venues + IP". The cooperation between the company and the Pengzhou Municipal Government on the project of Gexianshan sports and leisure town in "Pengzhou, China" is an important layout for the company to open up the sports market in southwest China and create a small town with sports characteristics. This cooperation will give full play to the resource advantages of the sports industry "venues + IP" to create a Rhine sports outdoor sports service system represented by a small town with sports characteristics, which will provide support for the company to further enhance its market influence, consolidate its industry position and effectively integrate the industry. at the same time, it will also play a positive role in improving the company's economic benefits. At the same time, Gexianshan sports and leisure town is located in Chengdu one-hour traffic circle, with unique human and natural resources. The company's sports and leisure town is expected to develop well with the help of excellent geographical location and natural resources.
The company sports town landed in the southwest for the first time. At present, the company has four sports town projects: "Huangshan International Outdoor Sports Base", "Tonglu International Football Town", "Luzheng Puyang characteristic Sports Town" and "China Pengzhou 'Gexianshan Sports Leisure Town". Among them, Tonglu, Puyang and Huangshan projects are all located in or near the company's location in Zhejiang Province, while this new development project is located in Chengdu, Sichuan Province, which is the company's first southwest sports town project. The implementation of the project marks another improvement of the company's strength to develop and operate sports towns in different places, and lays a foundation for the company to further expand the national layout and obtain more high-quality accumulated regional resources.
Profit forecast and investment rating: the company's EPS from 2017 to 2019 is expected to be 0.08max 0.12max 0.16 respectively, maintaining the "overweight" rating.
Risk hint: the development of sports business is not as expected, and the operating performance of the town is not as expected.