Industry hot spots this week: ① on January 11, China Chain Operation Association (CFFA) released the Spring Festival forecast; ② On January 10, Deloitte China released the new growth path of China’s footwear and clothing industry in the digital age; ③ On January 12, the National Bureau of statistics released the national CPI and PPI data in December 2021; ④ On January 10, lianshang.com released the opening of national shopping centers in 2021.
Market performance: last week (2022.1.10-2022.1.14), CS trade retail index fell (- 0.85%), outperforming Shanghai Stock Index (- 1.63%), Shanghai and Shenzhen 300 index (- 1.98%) and Shenzhen Component Index (- 1.35%). Since the beginning of the year, the industry index has fallen by 1.11%, outperforming Shanghai and Shenzhen 300 (- 4.32%), Shenzhen Component Index (- 4.76%) and Shanghai index (- 3.26%). Compared with other industries, the commerce and retail sector ranked 10th in the 30 industry categories of CITIC last week, up 7 from the previous week.
E-commerce and agent operation segment: Nanji E-Commerce Co.Ltd(002127) deputy general manager resigned.
Supermarket sector: Carrefour cooperates with meta for large-scale strategic cooperation.
Gold and jewelry sector: Leysen Jewelry Inc(603900) Shen Dongjun resigned as chairman.
Department store and comprehensive business sector: Ningbo Zhongbai Co.Ltd(600857) adjust the authorization scope of self owned fund investment management; Yintai department store Mini business cloud store entered Jiangsu for the first time; Maoye Commercial Co.Ltd(600828) foreign investment to establish subsidiaries; Part of the shares of Fujian Dongbai (Group) Co.Ltd(600693) controlling shareholders are released from pledge and re pledge.
Other chain sectors: China Tourism Group Duty Free Corporation Limited(601888) issued the announcement of annual performance increase in 2021; Vats Liquor Chain Store Management Joint Stock Co.Ltd(300755) released the performance forecast for 2021, with an estimated profit of 674 million yuan – 691 million yuan and yoy80 million yuan 61%-85.16%; Corresponding to the annual operating revenue of RMB 7.43 billion to RMB 7.6 billion, yoy5.0 billion 36%-53.80%； The significant improvement of performance lies in the continuous expansion of chain brand effect, the further recognition of the company’s concept by channels and consumers, the continuous improvement of the company’s comprehensive marketing ability, the steady improvement of the number and quality of stores, the significant improvement of distribution ability, the significant improvement of the sales of customized fine wines and famous wines, and the thickening of sales and profits; Mclon Jewellery Co.Ltd(300945) use some idle raised funds for cash management.
Cosmetics sector: Syoung Group Co.Ltd(300740) released the annual performance forecast. In 2021, it is expected that the net profit will be about 230 million yuan ~ 265 million yuan, yoy 63.5 million yuan 97% ~ 88.92%, the main reason for the performance change lies in the improvement of the company’s product structure, the company’s upgrading of brand image, diversified expansion of new products and new brands, and the rebirth of the business of its own brand “yunifang”; In addition, the company exported brand operation experience and steadily expanded its agency business.
Gehu block: Chongqing Baiya Sanitary Products Co.Ltd(003006) implement the 2021 incentive plan.
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.
