Semir Apparel: There Is Still A Rising Potential For Mass Clothing Business, And Children'S Industrial Extension Brings More Space.

< p > > a href= "http://sjfzxm.com//business/" > electricity supplier < /a > business adopts O2O and high cost performance independent e-commerce brand parallel strategy, especially the latter is in line with the development direction of the industry, and the future development is worth looking forward to.

At present, the O2O business under the company's existing brand is continuing to push forward, and the mode is similar to that of other peers.

In June this year, the independent e-commerce brand launched by the company came to buy a product with high performance price ratio, standardized and large-scale purchase, which is in line with the general trend of consumption in the industry, and the future is worth looking forward to.

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< p > the further extension of children's industry will be a major new aspect of the company.

Recently, the company has entered the early education industry through the acquisition. The announcement also shows that the company will continue to invest in mergers and acquisitions related to children's education and children's culture in the future. In the medium term, Semir will build two platforms under the online and offline industry in the field of children's industry. The online platform will collect children's products, education, culture and other sectors. The offline platform will be a "dream town" project as a template, and it will gradually be replicated and promoted to the national shopping center after the project is streamlined and compressed, so as to jointly promote the coordinated development of various businesses in the children's industry.

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< p > > a href= "http://sjfzxm.com//business/" > Company < /a > is one of the most recommended varieties of our 14 year plate. The reasons are as follows: (1) at present, the market underestimates the development space of the company's public dress business, and is too entangled in its total market value of 20 billion. We have judged that the market value of Future Ltd still has much room for growth.

(2) the company has a solid foundation in the extension of the children's industrial chain. As a pioneer of the industry, it is more likely to share the cake of this trillion market.

(3) the company has good incentive mechanism planning.

(4) theoretically, the core management of the company also has a strong driving force to do business well.

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< p > < strong > financial forecast and investment suggestion < /strong > /p >

< p > we have slightly increased the company's profit forecast for the next three years. We expect the company's earnings per share from 2014 to 2016 to be 1.63, 2.01, and 2.35 yuan (originally forecast 1.63, 2, 2.32 yuan). Taking into account the fact that the public clothing business has always been the fertile ground for producing large market capitalization companies, and at the same time, the company is the sole investment target for the trillions of children's large industry integration in the A share market. At present, the integration and extension of the children's industrial chain has already had the action of landing, and the path is becoming clearer. According to the comparable company valuation, we maintain the company's 26 times PE valuation in 2014, corresponding to the target price 42.38 yuan, and we raise the company's investment rating from "overweight" to "buying".

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< p > < strong > risk < a href= > http://sjfzxm.com//business/ > > < /a > < /strong > /p >.

< p > the risk of domestic brand apparel retail terminal is continuing to be depressed, and the possible industrial extension in the future will bring management challenges.

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