You are here:Home>News>Textile Machinery

Textile Machinery

Lu Tai A(000726) : The big logistic cotton spinning that prop up knits bibcock enterprise outstanding achievement to good

Published on:2014/11/21 11:18:01

Keyword:Cotton spinning, printing and dyeing, period cotton, cotton, weaving
Introduction:1.1-9 month finished business income 2014 4.574 billion yuan, decrease 1.40%; vest in to appear on the market together the net gain of company shareho...

1. 1-9 month finished business income 2014 4.574 billion yuan, decrease 1.40%; vest in to appear on the market together the net gain of company shareholder 710 million yuan, the cash flow net specified number that increases 5.03%; to manage an activity to arise together 843 million yuan, decrease 6.18%;EPS 0.74 together yuan, add together 4.23% . In the center, 3 quarters finish business income 1.459 billion yuan, decrease 7.53%; vest in to appear on the market together the net gain of company shareholder 233 million yuan, the cash flow net specified number that reduces 10.27%; to manage an activity to arise together 444 million yuan, add 8.89%;EPS 0.24 together yuan, decrease together 14.29% .

2. Is what report of company outstanding achievement gives the demand on foundation of conformity of industry of bibcock enterprise benefit from benefit from weak anabiosis: ? Actual strength of management of? of large bamboo hat of humble of  of herd of envy of  of  of razor clam of  of  of  chew Chi is stronger, accept overseas demand 12 years first half of the year not flourishing, raw material and labor cost rise wait for element influence, each quarter profit lasts basically; of 30% above negative growth picks up as overseas demand reach conformity of domestic industry interior to deepen, since 12 years of 4 quarters outstanding achievement chases season to improve, rate of gross profit of 13 annual profit from rises those who reach expense ratio to drop, the income that finish, net rises 9.78% , 41.17% . 14 years ago 3 season, because ratio of company whole expense is abroad produce the project is advanced and can climb somewhat litre, sale and overhead expenses defray are added in the center fast all exceed go up year of the corresponding period, rise respectively to 10.50% reach 13.42% .

3. Wool interest rate follows demand to growth and raw material cost are stabilized and rise significantly, drive net to add fast exceed income: 14 years ago 3 season, interest rate of company whole wool raises 1.71 to nod compared to the same period ceaselessly to 31.04% , in the center, suffer go up high cardinal number of year of the corresponding period, and setting of straight filling policy issues cotton the effect that cotton price takes low to anticipate, interest rate of wool of 3 quarters odd season falls slightly 0.34 percent come 30.37% .

4. Since straight filling policy published the portion in April 2014, catenary of cotton spin industry anticipates cotton price will appear on the market in new cotton consistently (9-11 month) hind drop considerably, the downstream client of each link all dismantles industrial chain carefully odd, interest rate of the order of cotton spin enterprise, wool all suffers order cycle to slant the influence; of the behavior such as short, digestive inventory, demand a low price the look forward to after we think to drop as cotton price is firm, interest rate of the order of the enterprise, wool all restores to come whack, rhythm of operation of catenary of industry of whole cotton spin returns to normal, the demand of filling inventory increases those who bring order those who reach wool interest rate to rise, interest good firm outstanding achievement is stretch 2015. In addition, overseas demand anabiosises, conformity of industry of link of printing and dyeing gets effective, the investment that all makes company of bibcock of spin of the cotton that prop up is logistic.

5. Firm client faithfulness is spent tall, technical actual strength is abundant, administrative group is stable, bibcock advantage is highlighted with management actual strength. Accompany layout of abroad industry catenary to be perfected further in the future, predict to will consolidate; of its cost advantage at the same time, the company devotes oneself to to increase capacity of research and development, strengthen development of poor dissimilation product and promotion, continue in order to abound the means of range of products demand of individuation of close to client. Predicting company 2014-16 year profit of net of parent company of the vest in that finish is respectively 10.95, 13.4, 1.5 billion yuan, add together 9.60% , 22.31% , 11.99% , corresponding EPS parts 1.15, 1.4, 1.57 yuan. Considering relevant can compare 15 years of average PE of company to be 13x, conservative provide a company 2015 8xPE, corresponding purpose price 11.21 yuan, buy grade.

6. : of main unsure factor? Ceaseless aggravation of demand of home of? of engrave て of M Sun this Zhan Huai.