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卓悦(00653.HK):业务前景稳定

Zhuo Yue (00653.HK): Business prospects are stable

金利豐證券 ·  Apr 1, 2014 00:00  · Researches

Local merchant Zhuo Li (653) realized an income of 3.039 billion yuan last year, an increase of 8.2% over the same period last year. Its gross profit margin rose 0.2 percentage points to 44.4%, and its profit increased by 22.5% to 273 million yuan. It can be seen that its cost has been properly controlled. In the heart of the city, there was a drop of 4% in same-store sales from the first day of the new year to the seventh day of the new year, not only because the base was too high, but also because some tourists changed to visit Hong Kong on normal days. However, in the mainland passenger consumption model, which used to focus on luxury goods to medium-sized goods, there is still a certain demand for consumable necessities. Management has indicated that sales in January this year still recorded a low figure increase year-on-year, so there is no need to be too sad.

As of the end of last year, there were 46 stores in Hong Kong, Macao and inland. It is expected that three to five more retail outlets will be built this year. The situation of high rents has not improved, but the rent level of the new tenancy agreement has been controlled. The rental cost of retail and development divisions has dropped by 0.9 percentage points to 12.8% year on year. In mid-February, the bazaar also bought a number of land stores in Tsuen Wan to Kangjian (3886), and the property was temporarily leased as retail stores, which helps to control rental costs and is also useful for investment purposes.

Its retail stores currently offer more than 24000 beauty and health care products, including more than 100 own brands and home agency brands. High-quality products are expected to enhance the profitability of the market. Earlier on, Kawaiiland was launched by Axin House under CEC in Hong Kong, focusing on the low-and medium-file road line. the market will become a threat to the market. however, consumers generally do not dare to try new brands for products related to beauty, such as protective products and cosmetics. Some of the Japanese brands of Kawaiiland are not familiar to people in Hong Kong.

The online shopping service on the official website has been in operation since 2005, and last year it opened an overseas flagship store in Tianyang to provide overseas imported goods to mainland consumers. The number of employees in online stores increased to about 5200 million yuan last year, but recently, the payment service has been blocked, so it is still desirable to look forward to the face-to-face impact of its network services.

The final dividend is 2.88 cents per share, plus a special dividend of 0.92 cents per share and one dividend for every 10 shares held, which attracts dividends. Yesterday, the rift opened high and re-opened to the 10-day line, the MACD bear gap narrowed, STC%K rose through the% D line, can be tested for 1.40 yuan suction, expected 1.54 yuan, do not fall below 1.35 yuan can continue to hold.

The translation is provided by third-party software.


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