Increase of supply chain service penetration
The rise in commodity prices has driven more manufacturing enterprises to adopt supply chain services. First, the demand for price management has increased. In 2021, commodity prices rose sharply, and the gross profit margin of some manufacturing enterprises fell sharply. By using supply chain services, the price of raw materials can be locked when signing sales contracts and the gross profit margin can be kept stable. Second, the demand for financing increased. The price of raw materials increases, the demand for in transit inventory and working capital increases, and supply chain enterprises can provide advance financing services. Third, the manufacturing industry has improved quality and efficiency, transformation and upgrading, focusing on the core links and supply chain service outsourcing. Bulk supply chain enterprises provide professional raw material procurement, price management, inventory optimization, logistics distribution and other services to promote manufacturing enterprises to improve operation efficiency.
Supply chain industry concentration increased
The sharp fluctuation of commodity prices prompted the head company to increase its share. On the one hand, the sharp rise and fall of commodity prices will eliminate small and medium-sized supply chain enterprises with weak price management ability, and the market share will concentrate on the head companies with stable operation. On the one hand, the financing strength of small and medium-sized enterprises is forced to increase, and some enterprises are forced to give up their capital supply chain. The head company has obvious advantages in batch procurement, financing cost, turnover efficiency and risk control level, and its market share continues to increase. The bulk supply chain industry has formed a competitive pattern in which leading companies such as Xiamen C&D Inc(600153) , Xiamen Xiangyu Co.Ltd(600057) , Xiamen Itg Group Corp.Ltd(600755) , Wuchan Zhongda Group Co.Ltd(600704) , Zheshang Development Group Co.Ltd(000906) , etc. have taken the lead.
Rising commodity prices accelerate profit growth
In the stage of commodity price rise, the profits of supply chain enterprises have accelerated. Supply chain enterprises include the value of goods into their operating income, and the rise of commodity prices promotes the growth of operating income. Under the mode of charging service fee, the profit margin remains stable, so the profit increases with the income. Commodity prices rose sharply in 201617 and 2021, and the profits of leading supply chain enterprises accelerated. The conflict between Russia and Ukraine reflects the opposition between eastern and Western countries. The global industrial chains of energy, ore, manufacturing, science and technology may be reconstructed. Trade barriers have begun to trigger a sharp rise in resource prices. Commodity prices may remain high for a long time in the future, and the bulk supply chain is expected to usher in a period of prosperity.
Recommended Zheshang Development Group Co.Ltd(000906) and Xiamen C&D Inc(600153)
Recommend high growth Zheshang Development Group Co.Ltd(000906) and high dividend Xiamen C&D Inc(600153) and pay attention to Xiamen Xiangyu Co.Ltd(600057) , Xiamen Itg Group Corp.Ltd(600755) , Wuchan Zhongda Group Co.Ltd(600704) . Under the advance mode of supply chain enterprises, the receivables are huge and the cash flow is poor, resulting in PE close to bank stocks. However, the head supply chain enterprises have high growth, and EPS growth is expected to drive the stock price up Zheshang Development Group Co.Ltd(000906) incentive is favorable, and the annual growth rate of net profit in 201621 is 46%, which is expected to continue high growth in the future. We expect the dividend yield of Xiamen C&D Inc(600153) 2021 to be about 6%, and the future profit is expected to continue to grow rapidly. In addition, the profits of Xiamen Xiangyu Co.Ltd(600057) , Xiamen Itg Group Corp.Ltd(600755) , Wuchan Zhongda Group Co.Ltd(600704) also increased rapidly.
Risk tip: commodity prices have fallen sharply, the growth rate of infrastructure and real estate has declined, and the credit environment is loose
