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中天精装(002989):新股网下申购询价建议报告

東莞證券 ·  Apr 30, 2020 00:00  · Researches

  The company is a leading domestic batch finishing service provider. It mainly provides batch residential decoration services for large domestic real estate companies. Its specific business includes building decoration engineering construction and building decoration engineering design. The company has strong market competitiveness in the field of batch decoration. After more than ten years of accumulation in the field of batch finishing, the company has strong strength to meet the diverse batch decoration service requirements of customers with high quality, and has established good cooperative relationships with suppliers from large real estate companies. The company has accumulated strong market influence and recognition in the field of batch decoration, and has won the title of “China's Top 100 Building Decoration Industry Enterprises” by the China Building Decoration Association; it has obtained the “China Building Decoration Industry Top 100 Enterprise” certificate issued by the China Building Decoration Association for three consecutive years; obtained the “High-tech” certificate of enterprise credit rating “Enterprise Certificate” and many other honors. In 2017-2019, the company's revenue was 939, 13.63 billion yuan and 2,340 million yuan respectively, and net profit was 0.80, 1.00, and 183 million yuan respectively. The compound growth rates of operating income and net profit over the three years were 57.81% and 51.20%, respectively. In 2019, the company's consolidated gross profit margin was 16.10%, and the net margin was 7.83%.

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