Fund together Suning appliance waiting for the "command"

With the benefit of April 16, 2010 to share, Suning appliance jumped into the fund two quarters of the largest increase in the stock, the fund heavy warehouse shareholding number of the chain increased 595 million shares.　　By the end of June, the Fund had held a 37.59% share of the company's circulation disk. Because there are funds to support, although the two quarter of the sea wave, but suning appliance performance resistance, run to win the market more than 14%.　　Analysts say the stock is still undervalued, with a three-quarter focus on gross margin increases. After entering the July, most of the chips in the hands of the agencies began to collect suning appliance chips.　　According to the Compass Body cipher data, from July 1 to July 23, a total of 351 million dollars were added to the company, and only last week it was 278 million yuan. "The biggest advantage of suning appliance is that it is cheap. Because the market believes that it will be affected by real estate policy, to some extent, the impact of its valuation upgrade, but on the other side, its shares belong to consumer stocks, plus the size of the increase, the performance is more stable, so in the weak city, or a good risk aversion choice.　　A business analyst at a general brokerage in Shanghai told the Securities Daily. According to the person's point of view, the three quarter, suning appliances The biggest aspect is whether the gross margin can be upgraded. "Before the company took a series of measures, hoping to increase the gross profit margin, according to the truth, three quarters should have a little results." Because the company is larger, even if the gross margin is only increased by 1%, will also greatly enhance the company's performance.　　The analyst stressed. Conversion of funds to promote fund positions over the 32% quarter of the agency to lighten the 900 million according to wind data, as of 2010, the number of funds for the unit was increased to 88, with a 8 increase at the end of the quarter, and the total number of shares increased significantly from 1.179 billion to 1.772 billion, up by 33.58%.　　By the end of June, the Fund had held 37.59% of the company's circulation plate. In fact, the large increase in fund positions is not the initiative, more of the conversion factors. In 2009, Suning put forward a cash dividend of 0.5 yuan per 10 shares, at the same time each 10 shares to increase 5 shares of the profit distribution plan. The programme was eventually adopted by the parties and was formally implemented on April 16. This led directly to a substantial increase in the Fund's shareholding. According to statistics, at the end of the first quarter, the fund heavy warehouse held the company 1.179 billion shares.　　In this calculation, after the transfer of shares, the Fund's heavy holdings will increase to 1.769 billion shares. In fact, in the two quarter, the Fund and other institutions overall reduction of suning appliances.　　According to the organization password data, this 4-June, the agency accumulated reduced the company 924 million yuan chips, of which the April was a large exodus of 1.689 billion yuan, 5, 6 two months, respectively, back up 195 million yuan and 569 million yuan. However, there are still a large number of funds in the two quarter to continue to stay behind Suning appliances. Statistics show that at the end of the first quarter of the company's 80 funds, 60 chose to stay, accounting for up to 75%.　　Among them, the Guangdong Poly Fung, Silver wah core value optimization, rich days Benefit value optimization, Bo Time selected holdings continue to rely on, respectively, holding 170 million shares, 100 million shares, 77.8758 million shares and 77 million shares, each accounted for the company's circulation of 3.61%, 2.12%, 1.58% and 1.65%. In addition, there are 28 "new faces" in 88 funds of the heavy warehouse suning appliance.　　The new fund has more shareholding in the value of the Baode, Everbright Core and the new blue-chip, Guangdong, the growth of domestic demand, respectively, holding 40.0002 million, 29.9997 million, 19.4697 million shares and 18.4966 million shares. It is noteworthy that, in the two quarter, 32 fund companies to choose the heavy warehouse suning appliances, which have more positions with the GF Fund, Bosera Fund and rich-country funds, these companies have 7, 5 and 8 Fund heavy warehouse, respectively, holding 1,356,830,900 shares,　　191.8667 million shares and 180,320,590 shares, each accounting for the company's circulation of 7.57%, 4.07% and 3.83%. In the second quarter, the fund's strategy came into effect. The market fell nearly 23% against the backdrop of the Suning appliance only a small drop of 8.75% percentage points.　　But because the position is huge, the floating deficit of the heavy Warehouse fund on the stock is still as high as 1.931 billion yuan. July institutions to increase the value of 351 million yuan rose 6.1% valuation is still low into the July, with the market, Suning has ushered in a larger increase. Since July, the stock has risen 6.84%. At the same time, the Fund and other institutions launched the overweight plan.　　Organization password data show that since July, the institutions have increased the number of the company 351 million yuan. Most of these purchases were completed last week. Between July 19 and July 23, the total net inflow of funds from the agency was 278 million yuan. With the help of institutional funds, Suning rose 6.1% in the week.　　Last week, the report closed at 12.18 yuan/share. And since April, Suning appliances in the two-tier market performance has been bland not fire, although July with the market rebound, it finally reversed the dull situation, a moderate rise, the July has risen 6.84%.　　But analysts say Suning's valuation has more room for improvement. "The biggest advantage of suning appliance is that it is cheap. Shanghai analysts said.　　According to wind data, as of July 23, Suning's dynamic P/E ratio was 25.83 times times, well below the retail average of 37.12 times times earnings. Gross profit margin into the key to the valuation of the interim increase 50%~70% but, suning appliances also want to upgrade the level of valuation, but it is not easy. "For the company, the three-quarter point of interest is gross margin. Shanghai analysts say. "Before the company took a series of measures, hoping to increase the gross profit margin, according to the truth, three quarters should have a little results." "It is reported that in recent years, suning appliances through the adjustment of productionProduct structure, regional layout, as well as the expansion of customized underwriting gross margin measures to enhance the level of gross profit. The company said that the future will be through the adjustment of product structure and richness, increase high value-added products such as extension, accessories, entertainment products sales, custom underwriting, increase OEM, ODM underwriting products accounted for, shorten the length of the industrial chain, to gain more profit space; increase the proportion of proprietary products,　　Even if the future can not underwrite customized products also strive to promote the use of proprietary means to enhance the gross margin space. After a quarterly rise in gross profit margins last year, the 2010-year quarter, Suning Appliance's gross profit rate returned to last year's first quarter level, to 16.59%.　　This 2009 two, three or four quarter, the company's gross profit margin of 17.3%, 17.54% and 17.8% respectively. Although the company's first half of the gross margin need to be reported on the data to be true, but from the notice, the first half of the company's performance will also have a decent performance. Suning Appliance in a quarterly bulletin said: "With the gradual realization of chain planning, the company's network scale further expansion." At the same time in the further improvement of the background platform on the basis of the overall promotion of marketing transformation, change, innovation, the company's operating quality steadily improve. Another household electrical appliances consumer market in a series of macro-policy promotion under the 2010-year development space is larger. In summary, the company expects net profit of 2010 1-June attributable to the owner of the parent company to increase by 50% to 70% over a year earlier. "2010 years of the first quarter of suning appliances to achieve total operating income of 16.712 billion yuan, an increase of 32.02% per cent, the realization of attribution to the listed company shareholder net profit of 884 million yuan, the year-on-year increase of 86.08%."