Wangfujing (600859) Company Review: Chengdu Industrial Investment Inc. Increases Shares to 5% Underestimates National Department Stores Worth Watching!

Wangfujing (600859) Company Review: Chengdu Industrial Investment Inc. Increases Shares to 5% Underestimates National Department Stores Worth Watching!

1.

The event company received the “Report on the Change of Simple Equity of Wangfujing Group Co., Ltd.” from the company’s shareholder Chengdu Industrial Investment on December 17, 2019. Chengdu Industrial Investment from December 9, 2019 to December 17, 2019日 日期间渐增增持公司股份2.

47%.

After this change in equity, Chengdu Industrial Investment Holdings Co. 5 shares.

00%.

2。
Comments Chengdu Industrial Investment increased its shareholding to 5%, underestimating the value of leading national department stores.

Before this change in equity, Chengdu Industrial Investment Corporation held the company2.

53% stake.

This time the Chengdu Industrial Investment Corporation increased its stake in the company2.

47%. After this change in equity, Chengdu Industrial Investment held 5% of the company’s shares.

As a long-term investor of the company, Chengdu Industrial Investment has been cooperating with the company on the scale of business. Recently, based on the optimism of investment opportunities in the industry and confidence in the company’s sustainable and stable development, Chengdu Industrial Investment will increase its holdings of the company’s stock, and in the next 12 monthsThere are plans to continue to increase the company’s shares, and the increase plan does not seek controlling rights.

Leading national department store companies, department stores & outlets are developing synergistically.

As a leading national department store company, the company has formed a business layout that integrates the four major formats of department stores, outlets, shopping centers and supermarkets.

The company accelerates the overall improvement of the department store format’s commodity operation capabilities and customer operation capabilities, continues to deepen the innovation model, promotes the construction of omni-channels, vigorously 无锡桑拿网 develops the shopping mall and Olay formats, and leverages capital to develop commodity self-operated and supermarket formats.

As of September 2019, the company has a total of 52 large stores, including 37 department stores, 9 outlets, and 6 shopping malls.

The company involves seven major economic regions in Northeast, North China, Central China, South China, East China, Southwest and Northwest China, covering 22 provinces, municipalities, autonomous regions, and 32 cities including Beijing, Inner Mongolia, Shanxi, and Henan.

The equity of Wangfujing Dongan is allocated to the BTG Group for free, and the reform of state-owned enterprises is trying to accelerate.

The BTG Group is planned for free along the Wangfujing Dongan equity, and the BTG Group directly holds the company26.

With 73% of the shares, BTG Group became the controlling shareholder of the listed company.

The transfer of equity will further deepen the reform of the Beijing State-owned Assets Supervision and Administration Commission on retail state-owned enterprises, further promote the “6 + 2” industrial layout of the BTG Group, realize resource sharing and complementary advantages, and solve the problem of competition in the industry.

3.

The investment suggestion company is a pure national department store leader. The traditional department store business has grown steadily. Outlets has become a new growth point, which is equivalent to the bottom of history.

It is estimated that the net profit for 2019-21 will be 1.1 / 12/13 billion, and the current market value will correspond to 9/9 / 8xPE.

Risk reminder: The macroeconomic growth rate is not up to expectations, the social retail consumption growth rate is not up to expectations, the company ‘s same store growth rate is not up to expectations, and the company ‘s store opening progress is not up to expectations