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Footwear Giant Baocheng International Shoes 2010 Pairs 287 Million Pairs

2011/2/14 13:49:00 82

February 14th hearing

Baocheng

(9904) in January, the company's Yuyuan business grew and its consolidated revenue increased by 0.4%. In the first quarter, the company estimated that it would be expected to recognize Yuyuan's revenue of 2 billion 400 million yuan, and the first quarter result was not.

Footwear market

With steady growth and Nike's optimism, it is estimated that 10-20 production lines will be added annually, and the annual output will increase again.

Looking ahead, this year, the legal person estimates that Yuyuan (including Baosheng) in 2011 will recognize that its revenue will be as high as 7 billion 700 million yuan, driving Baoji's earnings per share to grow by a small margin this year.

Baoji in January, because of the Lunar New Year's factory shutdown, the monthly sales revenue decreased by 14%, but the subsidiary company Yuyuan in January has a small increase of 4% in January, which has led to a slight growth of 0.4% yuan in the combined revenue of Baoji in January, which is still growing 14.4%, compared with the same period last year.

In February, the industry was partly affected by the stoppage of factories during the lunar new year.

The company estimates that in the first quarter of the lunar new year, working days turn less, Baocheng's revenue is estimated to decrease by about 15% in the quarter, but the factor company Yu Yuan first quarter (fiscal year 2010 10-12 months) has achieved outstanding performance. It is estimated that Baocheng is expected to recognize a revenue of up to 2 billion 400 million yuan, which is conducive to the first quarter combined performance.

At present, Baocheng has 226 mainland production lines, 114 Vietnamese factories, 120 Indonesian plants, and 3 plants in Taiwan, totaling 463 in 2010. Baocheng said that each production line was expanded according to orders, and the utilization rate of capacity reached 9 or more, and the total output in 2010 amounted to 287 million pairs.

The legal person assessed that this year, due to the steady growth of the shoe market and the optimism of Nike, an important customer, the production line of Baocheng will be increased by 10-20 this year. The annual output is expected to grow again than that of last year.

In terms of performance this year, Yu Yuan is optimistic about Nike's investment this year, and the growth of the footwear market will grow to $6 billion 500 million.

However, Baocheng said that rising mainland wages and soaring raw material prices would challenge Yuyuan's performance. The legal person estimated that the gross margin would fall by 2 percentage points. But overall, in 2011, Baocheng recognized that Yu Yuan (including Baosheng)'s revenue estimate would increase by about 8% annually, reaching 7 billion 700 million yuan, which led to a smaller growth in earnings per year and an estimated 3.14 yuan.