Industry hot spots this week: ① on February 16, the National Bureau of statistics released CPI and PPI data in January; ② On February 18, the national development and Reform Commission and other 12 departments jointly issued the notice on printing and Distributing Several Policies to promote the steady growth of industrial economy; ③ On February 18, the Shanghai Municipal Commission of Commerce released the first store data of Shanghai introducing foreign brands in 2021
Market performance: last week (2022.2.13-2022.2.18), CS trade retail index rose (0.14%), outperforming Shanghai Stock Index (0.80%), Shanghai and Shenzhen 300 index (1.08%) and Shenzhen Component Index (1.78%). Since the beginning of the year, the industry index has fallen by – 3.16%, outperforming Shanghai and Shenzhen 300 (- 5.85%), Shenzhen Component Index (- 9.41%) and Shanghai index (- 4.09%). Compared with other industries, the commerce and retail sector ranked 18th in the 30 industry categories of CITIC last week, down 3 from the previous week.
Supermarket sector: Wal Mart released the financial report. The total revenue of Q4 was US $152.9 billion, a year-on-year increase of 0.5%; The operating profit was US $5.9 billion, with a year-on-year increase of 5.9%. The total revenue in fiscal year 2022 was US $572.754 billion, with a year-on-year increase of 2.4%; The net profit was US $13.676 billion, a year-on-year increase of 1.2%. The financial report showed that Wal Mart China Q4 net sales increased by 26.7% and comparable sales increased by 19.8%; Among them, Sam’s club store and e-commerce business performed well. Wal Mart’s net sales of Q4 e-commerce in China increased by 93%, with a two-year superimposed growth rate of 158%; Dingdong shopping released the fourth quarter performance report by the end of 2021. During the reporting period, it maintained a rapid growth. The company’s Q4 achieved a revenue of 5.48 billion yuan, an increase of 72.0% over the same period last year. The annual revenue in 2021 was 20.12 billion yuan, an increase of 77.5% over the same period last year. In terms of private brands, the sales of Q4 commercial products accounted for 10.2% of the overall Gmv in 2021, The commodity sales of self-developed processing plants account for 6.5% of the overall Gmv. With the improvement of consumers’ acceptance of prefabricated vegetables, the sales of dingdong buy vegetables and prefabricated vegetables will also account for 14.9% of the overall Gmv.
Gold and jewelry sector: DEA shares and Chow Tai Seng Jewellery Company Limited(002867) announced the new self operated stores in January 2022.
Department store and comprehensive business sector: Lanzhou Lishang Guochao Industrial Group Co.Ltd(600738) released the annual performance express of 2021. In 2021, the national epidemic was gradually effectively controlled. Under the condition of continuously improving the renewal rate and rental rate of the company’s professional market leasing business, the operating income increased significantly, resulting in an increase in profits. In addition, the income from surveying and mapping settlement of sold properties increased, resulting in an increase in profits.
Cosmetics sector: Proya Cosmetics Co.Ltd(603605) director and general manager reduced shares twice.
Recommended target: keep the logic of Omni channel configuration unchanged. It is recommended to focus on retail channel Tianhong Department Store (002419. SZ), Wangfujing Group Co.Ltd(600859) (600859. SH), Yonghui Superstores Co.Ltd(601933) (601933. SH), Jiajiayue Group Co.Ltd(603708) (603708. SH), Chengdu Hongqi Chain Co.Ltd(002697) (002697. SZ), Vats Liquor Chain Store Management Joint Stock Co.Ltd(300755) (300755. SZ), Hangzhou Onechance Tech Corp(300792) (300792. SZ), Shanghai Lily&Beauty Cosmetics Co.Ltd(605136) (605136. SH); And Shanghai Jahwa United Co.Ltd(600315) (600315. SH), Proya Cosmetics Co.Ltd(603605) (603605. SH), Guangdong Marubi Biotechnology Co.Ltd(603983) (603983. SH), Yunnan Botanee Bio-Technology Group Co.Ltd(300957) (300957. SZ), Hangzhou Coco Healthcare Products Co.Ltd(301009) (301009. SZ), Hangzhou Haoyue Personal Care Co.Ltd(605009) (605009. SH), Winner Medical Co.Ltd(300888) (300888. SZ), Chongqing Baiya Sanitary Products Co.Ltd(003006) (003006. SZ) of consumer products.
Risk warning: the risk of insufficient market confidence; Risk that the progress and effect of transformation are lower than expected
