share_log

南京中生联合(3332.HK):IPO认购指南

Nanjing students Union (3332.HK): IPO subscription Guide

國元(香港) ·  Jan 7, 2014 00:00  · Researches

The company is a retailer of nutritional supplements, with a total of two brand products, the Shengsheng series and the Compell series. In 2012, the company had a turnover of 150 million yuan and a net profit of 57 million yuan, with a compound growth rate of 50% 90.3% respectively. The number of people over the age of 60 in China is increasing, reaching 14.3% by 2012. The growing aging population will lead to the continuous growth of the nutrition dietary supplement industry in China. The total sales income of the industry has maintained a compound growth of 20.4% in the past three years, reached 580 billion yuan in 2012, and is expected to reach 1.73 trillion yuan in 2018, maintaining a high growth rate. China's nutritional dietary supplement industry is still in the early stage of development, highly dispersed, rapidly changing and high profit margin. In China, the government's regulation of the entire industry is relatively loose, but the health food approved by the State Food and Drug Administration is strictly regulated, and most of the company's products are approved by the State Food and Drug Administration. Qualified to produce health products. As of June 30, 2013, the company has 35 student retail stores in 22 cities in China, and 14 Compell retail stores in 13 cities. 39 retail stores are mainly concentrated in first-and second-tier cities, located in densely populated areas. Wealthy people, middle-and high-income families, the elderly and people in sub-health. Compared with the large enterprises engaged in this industry in China, the company has relatively few self-operated retail stores and relatively low sales, but it has a higher compound growth rate. For the four months ended 31 October 2013, the Company's turnover, cost of sales and gross profit were RMB66.3 million, RMB6.4 million and RMB59.9 million respectively. The company is expected to be valued at about 20 times in 2013, with a low discount with Dong'e Ejiao, a leading A-share listed company, although the company is still in a period of rapid growth, it is still recommended to participate in the purchase cautiously.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment