Broad hundred shares will continue to expand rapidly in the next two or three years

The number of hundred shares (002187), which set the record of historical opening in 2009, has not slowed the pace of expansion.　　According to the public information of listed companies, 2012 years ago, the company may be able to maintain a faster rate of open shop. The latest expansion of the case is the Guangzhou Beijing Road complex to gain a five floor (excluding the fetch part), Beijing Road No. 328, four to five floors and Beijing Road No. 326, 10 years lease rights.　　The total leasing area of the complex is about 14,000 square meters, and the contract agrees that the annual rent for ten years is about 49 million yuan. In this respect, Northeast Securities analyst Loo said: "As the Broad Hundred shares in (Guangzhou) Beijing Road has a wide hundred and new large two mature stores, located in the high-end and middle and low-end, the complex shopping malls will be differentiated with the two positioning, mainly engaged in fashion department stores, and the two formed a better dislocation competition to avoid the original stores to form a diversion, At the same time enhance the overall customer capacity of the business circle. "Data show that 2009, the new Open Jieyang, Huizhou, Maoming and Shenzhen Longgang and other 4 stores, the new operating area of about 79,500 square meters, increase the lease of zhaoqing shop business area of about 4100 square meters.　　At the same time, the broad hundred shares also through the Non-public offering acquisition parent company Hundred Group holds the new daxin, the Huayu Sound Company and the Huayu Power company three company Equity, after the acquisition completes, the above three companies become the Broad Hundred shares wholly owned subsidiary, the new 5 department stores and 58,300 square meters operating area. In the next two years, there are still a lot of stocks of shares of the project waiting to open.　　Since the second half of 2009, Guang Hundred shares have announced the new signing but has not yet opened the project has six cases, in addition to the above-mentioned complex shopping mall project, but also includes the Pearl River New Town Store project in Guangzhou, Huadou Phoenix Square Store project, Panyu Branch expansion project, as well as respectively located in Wuhan and Chengdu, two other projects. There is also a Heyuan project that has signed a letter of intent, and further increases the project reserves of the company if the project is formally signed before July 27, 2010. Loo said: "Up to now, the total area of the company's reserve project has reached 207,000 square meters, do not consider Zhanjiang store and Heyuan shop, 2010 New area is expected to exceed 150,000 square meters, is the 2009 new area of nearly twice times." "But it is noteworthy that Guang hundred shares at present only part of Beijing Road shop and New Daxin Beijing Road Shop belongs to the complete own property, plus the Canton Hundred New City store and Conghua store to take its own rental mode, other stores are leasing form." The huge leasing costs can be stressful for the company's short-term performance. Haitong Securities analyst Lu Ying said that the company's extension of the overall cost of expansion is more reasonable, individual store rents are still higher level of market rent. While the current rapid expansion will lay the groundwork for later performance growth, however, the company opened a new shop in 2009, it is expected that there are still 3 stores open in 2010, more new stores bring incremental start-up fees and decoration fee amortization, and rental costs in 2010 to reflect, so that the new store short-term loss will be on the company2010 of profits constitute a certain pressure. Loo told reporters: "Every company has its own considerations, but the rapid expansion model of the broad hundred shares is likely to be more flexible than the leasing model." ”