Ming brand jewelry is not a stock that is active in the market, but this does not obscure its potential to become a blue chip stock.
The semi-annual report's substantial pre-increase, strong high-sending expectations, and the long-term presence of privately-owned Daxiang Xuxiang's Zexi Investment, all prove the fact that the brand-name jewellery is undervalued by the market, and the long-term cow that indicates its opening. Quotes.
The interim results of the interim report increased by 477.51%.
In the A-share market that is good at telling stories, the concept of various themes is still very popular. But no matter what, a company's profitability is an insurmountable indicator.
Mingpai Jewelry recently released a report on the performance of the interim report. It is expected that the semi-annual report will increase significantly in 2014. The net profit will reach 150 million to 1.85 billion yuan. The company's net profit for the same period last year was 2.0342 million yuan, a year-on-year increase of 368.25% to 477.51. %.
Previously, when the first quarterly report of Mingpai Jewelry was released, the organization underestimated that the company's profit growth in the first half of the year was under pressure. CICC pointed out: "The company's revenue growth in the first half of the year was under pressure, mainly due to the sharp drop in the price of gold in the same period last year, which led to a significant increase in sales, resulting in a high base effect." BOC International believes that the fall in the price of gold will lead to a slowdown in the company's profit growth.
However, the large-scale pre-increase of Ming-brand jewellery broke this “pressure-bearing†theory. Analysts at Huashun Securities said: “This means that the company is obviously undervalued by the market and may re-initiate the presence of the institution and get out of the valuation correction. Quotes."
A statistic from the Securities Times also said: "Those stocks that increase more than the institutional expectations can bring real benefits to investors." Of the 72 pre-increased stocks that doubled in the 2014 semi-annual report, 16 The P/E ratio based on the forecast is lower than the agency's expected P/E ratio.
Ming brand jewelry is one of them. The data shows that the medium-term expected profit growth of Mingpai Jewelry is 422.88%, the converted P/E ratio is 17.62 times, and the institutional forecast P/E ratio is 27.58 times, which is up to 25.75%.
"For investors, if they can grasp the profit opportunities, pre-buying the blue-chip stocks that are undervalued by the market will be more effective than speculation," the securities analyst pointed out.
Not only is the semi-annual report significantly increased, but the profit forecast of Mingpai Jewelry in 2014 has also been favored by many institutions. As of the current six months, three institutions including CICC, Shenyin Wanguo and BOC International Securities have forecasted the 2014 annual results of Mingpai Jewelry, and forecast 2014 earnings per share of 0.89 yuan, compared with last year. It increased by 154.29% year-on-year, and predicted a net profit of 213 million yuan in 2014, an increase of 155.35% over the same period last year.
Among them, CICC made a profit forecast adjustment and raised the expectation: “In view of the increase in the company's hedging ratio and improvement in management capacity, the company's 2014-2015 earnings forecast will be increased by 10% each, and the net profit will increase by 183.1% respectively. Base) and 15.7%, corresponding to earnings per share of 0.98 yuan and 1.14 yuan."
High delivery expectation strongly urges Xu Xiang to stick to it
One detail that has to be mentioned is that among the top ten tradable shareholders of Ming Jewelry, there is a private fundraising of Xu Xiang.
From the perspective of the company's top ten tradable shareholders, the three funds under the private equity fund Xu Xiang - Zexi 6 single-fund trust plan, Longxin Fund Pass 1 collective fund trust and Zexi 4 its collective fund trust plan, from In the fourth quarter of 2013, Mingjie Jewelry was held (the cost of holding a position was around 17 yuan). As of March 31, 2014, it did not sell one. The three funds held a total of 7,318,300 shares, accounting for 3.05% of the total outstanding shares.
Some analysis articles pointed out that the number of Ming Jewelry can continue to shrink in the past month, and the stock price fluctuated between 22.50 yuan and 24.50 yuan, indicating that the chips are highly concentrated. Judging from the cost of Xu Xiang’s holdings, the profit so far has exceeded 40 million yuan, and the highest profit has exceeded 60 million yuan.
However, Xu Xiang has not sold one stock yet. The article believes that Xu Xiang’s adherence to Ming jewellery is “intentionally high.â€
The high-speed delivery of Ming brand jewelry is indeed strong. The company's financial data shows that its net assets per share reached 12.2319 yuan, the per share of the provident fund was 8.0781 yuan, the undistributed profit per share was 2.8265 yuan, and the operating cash flow per share was 1.0652 yuan. The undistributed profit of the parent company at the end of the first quarter of 2014 was as high as 702 million yuan, and the net profit attributable to shareholders of the listed company was 90.454 million yuan.
Flush Securities analysts believe that: "The high-transfer of Ming-brand jewellery conveys to the market a positive signal that the company's future performance will maintain high growth, which will attract the attention of many investors."
New product "Smurf" to enhance the company's gross profit
Behind the high growth in performance is the company's efforts in business. Mingpai Jewelry demonstrates the company's innovation and vitality with the continuous introduction of new products.
Since May of this year, Mingpai Jewelry has launched a new product series called "Smurf" series, which is eye-catching in the direct sales stores and flagship stores in first- and second-tier cities in China.
It is understood that Mingpai Jewelry has obtained the brand authorization of the "Smurf" brand owner Belgium IMPS, and has become the exclusive jewelry brand in China to design, produce and sell the "Smurf" theme image jewelry. The company believes that this will help expand its competitiveness and influence in anime jewelry and steadily increase its market share.
The company said that the promotion of the "Smurf" series of products with higher gross profit margins will effectively promote the company's overall gross profit margin. In the future, the company will continue to expand the "Smurfs" series of new products. In addition to the already launched gold (3D hard gold), K gold, diamond jewelry, color treasures, color shell jewelry are expected to be listed this month. Other categories of "Smurf" jewelry will also be developed and promoted.
As a jewelry enterprise, the future good trend of the jewelry consumer market is a guarantee for the company's future performance growth.
According to the analysis of CIC consultants, from the perspective of the potential market for jewelry consumption, the jewelry industry will face at least 4-5 consumer blowout periods, which will prompt the domestic jewelry market to mature. "China's luxury purchasing power will have a long-term strengthening period."
"We believe that the gold jewellery consumption in the mainland market has great potential, and the Midwest and the third- and fourth-tier markets are still to be developed." The CICC research report pointed out.
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