Since 14 years, the company has cooperated with domestic art training institutions through equity participation to select high-quality enterprises for in-depth integration in the future, and is committed to creating a comprehensive, brand, professional and national art education and training brand. This acquisition indicates that the early inspection project has entered a mature stage, and the integration of the company's art training project 2018 has been launched again! The EPS from 2017 to 2019 was 0.14,0.16,0.17 yuan respectively, and the "strongly recommended-A" was maintained.
The steady integration of offline art education and training investment projects has been launched again. Since 14 years, the company has cooperated with domestic art training institutions through equity participation to select high-quality enterprises for in-depth integration in the future, and is committed to creating a comprehensive, brand, professional and national art education and training brand. The company announced yesterday that it would buy 38.89% of Ningbo Helen colorful Culture Development Co., Ltd. with 26.3684 million yuan in cash. After the acquisition, the equity ratio will be 49%. The net profit in 2017, 2018 and 2019 will not be less than 2.9533 million yuan, 4.3108 million yuan and 4.8359 million yuan respectively. The integration of the company's art training project has been launched again.
Technology accumulation supports brand advantage. The company continues to accumulate technology from piano accessories to piano boutique manufacturers, and its product research and design has won many international well-known awards (MMR Award in 2012-2014 and MMR Lifetime Achievement Award in 15 years). At the same time, Chairman Chen Helen and his wife have won the Schumpeter Award for 16 years, which is the first time that Chinese entrepreneurs have won this award, and the brand value of the company has been internationally recognized.
Brand accumulation accelerates piano sales. In recent years, under the influence of second-hand pianos, China produced 3573 million pianos in 2015, a decrease of 2.35% over the same period last year. The company promotes brand promotion by holding new piano product conferences, national piano master classes, piano concerts and other activities, actively opening up second-and third-tier urban markets, constantly tapping sales market share, and expanding marketing channels through e-commerce platforms. Piano sales increased by 7.39% in 2016 compared with the same period last year. Piano sales in the first three quarters of 2017 increased by 12.91% compared with the same period last year, and the accumulation of brands was gradually recognized by customers.
Maintain the "highly recommended-A". Since 14 years, the company has cooperated with domestic art training institutions through equity participation to select high-quality enterprises for in-depth integration in the future, and is committed to creating a comprehensive, brand, professional and national art education and training brand. This acquisition indicates that the early inspection project has gradually entered a mature stage, and the integration of the company's art training project 2018 has been launched again! From 2017 to 2019, the EPS was 0.14,0.16,0.17 yuan respectively, maintaining the "highly recommended-A".
Risk hint: the progress of the art training project is lower than expected.