subject: Hunan Chain Suning Backgammon See Today Issued Parity [print this page] Issue price of 26.08 yuan, corresponding to earnings ratio is 29.98 times
As the only IPO in 2008 the first company in Hunan Province, backgammon online linkage will be formally released today. Yesterday the company held a road show to face the online medium and small investors, backgammon chains fill the face of shareholders, chairman of the king to ask questions, flashed out its strategic goals: to reach 134 stores in 2009, nearly 10 billion yuan of business revenue, net profit of 252 million yuan.
Institutions look to the "grass" line
For Hunan, the Backgammon is a "watch grown up" business. Years ago, Wang, chairman of BBK filled chain had established his "grass" line. He believes that in some cities are big business, when occupied, hastily rush into the fight to the bitter end is very unwise, he compared the weak but persistent backgammon grass, convinced the grass is small, but even the grass, the same can be surrounded by tree.
Hunan local supermarket chains backgammon online distribution today, Chairman Wang fill that price Bijiaxiaoying to watch "
Suning . " "The IPOs in our process of inquiry, institutional investors value most is a successful listing, BBK is able to persist continue to medium and small cities development strategy." Wang fill that small or medium city development strategy is focused on business success tips backgammon, who is also the sector most Chinese and core values.
13 years of growth in the process step by step, starting from the Xiangtan City, the gradual consolidation of the surrounding counties (cities), the District, adjacent to Zhuzhou, Loudi and other second and third line of urban development, gradual expansion. This layout strategy of encircling the cities from rural areas, the advantage of avoiding the fierce commercial competition in large cities and to preserve their strength, concentration of forces will be divided and conquered the surrounding market, steady beat Ying Pun, step forward. Network of intensive and stable, but also bring with them a cost advantage, this advantage also contributed to low-cost strategy, resulting in turn promote the consolidation of outlets.
To establish medium and small cities as retail target market, there is another advantage that the operating costs of small and medium cities, such as property rental and labor costs low, and place of origin to facilitate the implementation of procurement, which the company consolidated gross profit margin always stability and increasing every year.
Investors worried about loss of stores
For the supermarket chain is following a "channel for the king." Both GOME Suning, are expanding up and down enough capital in the stores, but for small investors, network expansion ultimate goal is to improve company performance. Backgammon in access to huge amount of funds, the store expansion is also planned. Wang filling said, "Based on our fundraising project, to open in 2008 a total of 19 supermarkets, department stores 4; in 2009 to open 19 supermarkets, department stores 5. By 2009 the company will reach 134 stores home business income of nearly 10 billion yuan, net profit reached 252 million yuan, the overall strength to a new level, we have the ability to maintain a rapid store expansion pace in 2010 -2 012 years, the maintenance shop in 2009 levels can be achieved. 2008, 2009, BBK will continue based on Hunan and Jiangxi provinces, in 2010 around the capital will be strategic to enter. "
In yesterday's road show, one outspoken shareholders, "Jiangxi backgammon set up three consecutive losses, and losses year after year, when the energy losses, when the profit?"
This, Wang fill that, "Jiangxi is the backgammon into the current strategic market, in July 2005 in Yichun out the first store, a total of 10 branches. The characteristics of the retail industry have a new store ? 2 years of market cultivation period. "Wang said, Jiangxi province, as a new entry, backgammon brand influence and market environment are on the rise, with low image of the occupation of the market, since the fourth quarter of last year, has Yichun and Jian two stores profitable throughout the year is expected to have 2? 3 stores break even or profit, in fact, the most fundamental reason is that Shanghai-Kunming line of high-speed opening section of Hunan and Jiangxi delayed opening of the second half of last year, leading companies in Hunan competitive advantage of supply chain not covered in Jiangxi.
"With the supply chain to improve the future, I believe we can win the market in Jiangxi." Wang said filling.
Hunan Chain Suning Backgammon See Today Issued Parity
