Eschde: "Pong brand" alongside the high growth

And the traditional sense of "waterfront brand" paste a derogatory label is different, now, alongside the famous brand has become a number of SMEs and Enterprise Board enterprises on the list of key factors. As an Apple handset in the domestic distributor, Aiwujiwu Invesco Great Wall Funds Madly "Love" Eschde (002416) (002416, closing price 47.00 yuan).　　So will "Apple" become Eschde's Eden? Invesco the Great Wall to "Apple" in the just released in the newspaper, Eschde was more than a fund concern. Huaxia Industry Select fund to 4.9999 million shares, accounting for 12.5% of the shares in the first. In addition, the Great Wall of Invesco has 5 Fund holding group to buy 8.03% of its circulation plate stock. "Daily economic news" reporter found that in the network under the placing list, there is no Huaxia industry selection and the King shun the Great Wall fund figure.　　This shows that the agency's massive involvement is done in the two tier market. Is there so many funds for He Jingshun Great Wall Eschde?　　The reporter found that the Invesco Great Wall was originally directed at the Apple phone. Data show that Invesco Great Wall Fund investment director Wang Penghui never once expressed the love of Apple mobile phone. As early as February this year, Wang Penghui in the discussion of market opportunities, said, bullish TMT (Digital New media) industry, and the Apple phone as an example, talk about its success. Apple's success, he points out, is simply a combination of a lot of technology, doing it more finely than Intel has the technology that China can't go beyond, which gives Chinese companies a lot of opportunities, because we don't have to compete head-on with foreign industry bosses on very strong core technologies, as long as they are differentiated. "And in the July 2010 Summer Investment Report of the King Shun Great Wall Fund, Wang Penghui again talked about Apple. He pointed out that mobile operators only develop users, content providers blindly provide content for others to click.　　"But Apple has broken the rules," Apple said, slicing users into the iphone's customer base, offering content for different layers of objects. In August, Wang Penghui said in an interview with the media, in the 3G, the smartphone will usher in a high-speed development period of at least 3-5 years.　　Smartphones now account for only 19.5% of global handset shipments, while high-end smartphones, such as BlackBerry and iphone, represent less than 15% of the shipments, so the market has a lot of room to grow. Alongside the famous brand Eschde and high growth Jing shun the Great Wall of Apple's favorite, but as one of the domestic public offering funds, it can not invest in Apple's shares.　　However, in the A-share market, there is a company to act as the speaker of the Apple phone, which is the reason for the Eschde of the Great Wall. How much technical content does one sell mobile phone?　　On the first day of the market will be lower open break, and then more is down, Eschde seems to be at the same time to their own and the market played a joke-China newspaper announced, Eschde share price but continued to rise. "Daily economic news" reporter found that Eschde kao JenLong behind, from the "Waterfront brand" of the success of the company operating all aspects of the famous brand. In terms of products, the 2009 Annual report data show that the company's Samsung sales accounted for more than Samsung's domestic total sales of 35%, more than the number of days and sound communications 33.3% of the proportion, become the country's largest agent Samsung.　　During the reporting period, Eschde was introduced into Motorola brand, forming the scene of Samsung, Motorola, Sony Ericsson, Cool Pie, Apple and other famous brands.　　In terms of channels, the company has become a strategic partner with China Mobile, China Telecom and Unicom (600050) in depth cooperation, and become Lenovo and Asus National agents, at the same time for Suning, Gome and other key customers to provide mobile phone sales channel integrated services. It is in the context of "waterfront brand", the reporting period, the economy to maintain growth, consumer demand has been released, the three major operators of the 3G market, making it in the mobile phone market (especially in the high-end dual-mode dual mobile phone market) rapid growth.　　In the first half, Eschde a total of 5.5371 million mobile phones, an increase of 39.57%, the realization of 5.156 billion yuan revenue, growth of 39.98% per cent, achieve net profit of 359 million, the year-on-year increase of 80.32%, the ownership of the parent company's shareholders of the net profit of 302 million yuan, an increase of 52.53%. It is noteworthy that the same as mobile phone distributors, the days of music Holdings has not been so good performance. In the middle of 2010, Eschde value-added distribution business gross profit margin of 18.9%, direct business gross profit margin of 18.9%, communications products, the total gross profit margin of 16.18%. These figures have increased from the 2009 annual report. And the Sky Sound Holding (000829) communications business gross profit margin only 10.11%, communication products sales gross margin is only 9.94%.　　The difference in profitability of two companies is evident.　　Why is the same as cell phone distribution, profit is so much worse? "Main business margin differences mainly from the company's operating capacity of the difference." "Haitong Securities (600837) wholesale and retail trade industry chief analyst Lu Ying pointed out that mobile phone upstream brand distributors to downstream distributors of the same model of mobile phones, sales prices are basically the same. In the case of the price competition of the retail terminal, the distributor must increase the gross profit margin by the difference of the company's operating ability.　　Lu Ying points out that, compared with the Eschde, the company has achieved high gross profit margin with accurate product positioning and selection, effective marketing and price control, etc. "Apple" will become the company's "Hot Story" "Apple mobile phone will be the company's future profit growth and market hype focus."　　"A private-equity man told the Daily economic news reporter when he talked about Eschde that the story of the iphone was a gimmick," he said. Data show that 2006, Eschde through a wholly-owned subsidiary of Cool Digital and Apple to carry out authorized retailers and distributors to cooperate. By the end of 2009, Shenzhen Cool move has been in 17 cities operating 68 direct stores, sales of 280 million yuan,It accounts for 30.6% of Apple's retail sales, surpassing the market share of other Apple's core retailers.　　The announcement, the company will also through the fund-raising, plans within 1.5 years, in 38 cities to invest in 90 new cool moving stores, further speed up the business development. "The company is the first domestic distributor of Apple digital products. It is expected that the composite growth rate will reach 100% in the next three years. As Eschde's main underwriter, Ping An securities is also very bullish on Apple's handset business. Ping An Securities analyst Zhang Hongjian pointed out that the current cool Apple authorized retail stores only 5 million yuan profit, there is a very large increase in space. According to foreign statistics, Apple's digital products retail stores in the United States, some of its flagship stores operating income even more than the same lot of luxury shops such as LV.　　This one and Apple's excellent store design and strong brand appeal is inseparable. In addition, the market total of cool move also has huge potential. Zhang Hongjian pointed out that, from the major digital electronics manufacturers in China sales in the global market, 2009, Nokia China sales accounted for 12.5% of the world, Samsung China sales accounted for 15% of the world, and Apple China's sales accounted for only 1.3% of the world, with more than 10 times times the market expansion space.