19 years of deep ploughing in high-end home decoration, steadily expanding the scale:
MingDiao Co., Ltd. mainly provides professional and high-quality integrated decoration services for medium and large residential customers. after more than a decade of steady development, it has become a well-known "integrated home solution" service provider featuring design. The company's financial situation is stable. According to KuaiBao's annual results in 2017, unaudited revenue reached 745 million yuan, an increase of 7.83% over the same period last year, while the net profit returned to the mother was 52 million yuan, an increase of 3.66% over the same period last year.
Integrated home improvement is unstoppable, and famous sculptures lead the development of the industry:
As a leading integrated home decoration enterprise in the industry, the concept of integration is reflected in five aspects: (1) Integrated business coverage: providing complete brands for different market segments, high-quality wood products customization services, convenient decorative materials selection services and standardized logistics and distribution services. (2) Integrated information platform: various business links are managed through an integrated information platform to realize the seamless connection between design, construction and supporting services. (3) Integrated marketing mode: construct the unique marketing mode of "experiential marketing + consulting marketing" and "direct branch and its supporting chain market expansion". (4) Integrated service standard: take the lead in launching the industry's leading integrated service standard "Golden Diamond Project". (5) Integrated pre-sales and after-sales service: the implementation of "24-hour gold service".
Keep up with the main line of industry development and strengthen the high-end line:
Since its inception, the company has attached great importance to brand development and developed a number of sub-brands according to the different needs of different consumer groups. create "famous carving design", "famous carving Dandi", "famous carving villa school" and "famous carving Shengbang" four major brands to meet the needs of different customer groups. The company builds the core competitiveness of the brand by constantly strictly controlling the construction process, improving its own design ability, construction level and all-round service. At present, his works have won hundreds of awards and formed the quality management system of "Golden Diamond Project". High quality assurance has made it highly recognized by peers and the market.
Financial forecasts and valuations:
It is estimated that the company's net profit from 2017 to 2019 will be RMB 0.52 million, an increase of 3.7%, 14.7% and 20.4% over the same period last year, corresponding to an EPS of RMB 0.39, 0.45 and 0.54 yuan. The current stock price corresponds to a PE of 53.8, 46.9, 38.9 times from 2017 to 2019, covering it for the first time and giving it a "recommended" rating.
Risk tips: the prosperity of the real estate industry is declining, fund-raising projects are not as expected, labor costs are rising, and so on.
