This week Jason Furniture (Hangzhou) Co.Ltd(603816) released the performance forecast. It is expected to realize the net profit attributable to the parent company of RMB 1.65-1.73 billion in 2021, with a year-on-year increase of 95% – 105%, and deduct the net profit not attributable to the parent company of RMB 1.42-1.5 billion, with a year-on-year increase of 140% – 154%. The performance is in line with market expectations.
According to the median value of the performance forecast, the company’s net profit attributable to the parent company in 2021 was 1.69 billion yuan, a year-on-year increase of 100%. If the impact of goodwill impairment loss in 2020 was removed (the provision of goodwill impairment loss was 480 million yuan), it still increased by 27.1% year-on-year, of which Q4 realized a net profit attributable to the parent company of 450 million yuan, turning losses into profits. If the impact of goodwill impairment loss in 2020 was removed, it increased by 41.3% year-on-year, The performance continues to maintain good growth.
Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) released the performance express: the operating revenue in 2021 was 31.89 billion yuan, a year-on-year increase of + 46.8%; The net profit attributable to the parent company was 4.185 billion yuan, a year-on-year increase of + 23.5%; Deduct non net profit of RMB 3.885 billion, a year-on-year increase of + 25.68%. Q4 revenue was 9.21 billion yuan, a year-on-year increase of + 36.3%; The net profit attributable to the parent company was 1.507 billion yuan, a year-on-year increase of + 20%; Deduct non net profit of RMB 1.417 billion, a year-on-year increase of + 34%.
The revenue slightly exceeded expectations, and the profit margin rebounded, showing resilience. The company’s annual revenue was 31.8 billion, exceeding the previous guidance of 30 billion. According to the company’s express, the company’s Q4 net interest rate was 16.36%, an increase over the previous three quarters (5.37% / 14.01% / 13.63%). The price of raw material asphalt is expected to fall in 2022, driving the company’s profit margin to further improve. We expect the company’s annual net operating cash flow to be 3.4 billion yuan, corresponding to a net cash ratio of 0.8, which is significantly better than that of peers.
This week, the commerce and retail sector closed at 4047.61 points, down 0.85%, outperforming Shanghai and Shenzhen 300 (down 1.98% this week) by 1.13 percentage points. The sector ranked 10th among 29 primary industries. Among the segments, general retail rose 0.78%, trade fell 2.27%, franchise chains fell 1.60%, e-commerce and services fell 2.16%, and franchise market operations fell 1.82%. The top five companies with stock growth were st renle (25.78%), Zhongbai Holdings Group Co.Ltd(000759) (15.22%), Sanjiang Shopping Club Co.Ltd(601116) (13.04%), * ST Zhongshang (12.33%), Changsha Tongcheng Holdings Co.Ltd(000419) (11.99%); The top five companies whose stocks fell were * ST Hemei (- 12.84%), * ST Xinyi (- 10.08%), * ST Hongtu (- 7.98%), * ST Quanye (- 6.30%), Jiangsu Guotai International Group Co.Ltd(002091) (- 5.70%).
Important industry news of the week
[commerce and retail] the Ministry of Commerce plans to hold “2022 national online annual goods Festival”
[Internet] Zhang Yong resigned from the board of directors of microblog
[Internet] Tencent acquires Black Shark technology to lay out the next city of yuanuniverse
