Home run MORE: The core business Circle, leader department store Xiang Army

--Zhao Di Business Co., Ltd. is Hunan's largest department store, the company's controlling shareholder for Hunan Friendship Apollo Co., Ltd.　　Company for positioning in the high-end department store retailers, currently has a total of 7 department stores, 3 home run many home appliances supermarkets. Hu Zijing, chairman of the company, said, home run many years of development, has become one of the leading retail enterprises in Hunan Province, has a high regional visibility, reputation, the future company will further penetrate other surrounding areas, and further strengthen their own strength.　　At the same time, actively prepare, save energy, for the future of large mergers and acquisitions in the retail industry to fully prepare. The three major advantages of establishing a leading position of home run more than rivals to copy the competitive advantage of the company established a regional leading department store status.　　Has a good development prospects. Advantage One: Own property is higher, store position is superior. The company owns nearly half of the department store real estate property rights own property management area of 83700 square meters. In recent years, the company's own property department stores revenue and gross profit contribution to the company's total retail sales and store gross profit ratio of more than 50%. The higher ownership ratio lowers the company's operating costs, enhances the company's value and enhances the company's competitiveness in the region. Company stores, the friendship Store A, B Hall is located in Changsha Yuan Jialing Commercial Circle Center location, Friendship Mall is located in the East Pond Business Circle Core position, Spring Department store Changsha (will become the company's own property) is located in Changsha, the most anti-Xing road pedestrian street, the core business Circle 51 of the core position　　The non-duplication of the business circle the scarcity of high quality shopping district also has a major impact on the competitive landscape, the company to use the first advantage, occupy the region's core market location, the formation of a very favorable competitive advantage. Two advantages: Local brand influence and strong investment ability. Company Friendship Store in the local operating history of more than 30 years, including "Friendship", "Apollo", "Home run More", "Spring department Stores" and many other brands, has established a high brand awareness, the formation of a better reputation. Among them, the friendship store is the Ministry of Commerce assessment of the National 35 "jinding Shop" one, is also the only company in Hunan won the honor of the department store.　　Hunan department Store market in the size of the advantages, as well as a wide range of visibility and market influence, so that the company more easily access to well-known brands, and the supply of commercial negotiations with greater bargaining and bargaining power, so as to obtain a higher counter rebate. Three advantages: The management team is experienced.　　The company's core management team in the local retail business for more than 30 years, the local market knowledge, experience, which ensures that the company more accurate market positioning and sales of goods portfolio selection. 2008, the company's large department stores in Changsha sales accounted for 35.8%, 38.2%, the first place in Hunan Province, the general merchandise industry. Company chairman Hu Zijing said that the future company will be based on the requirements of enterprise development will continue to increase the construction of Changsha retail market investment, for the next 3-5 years, Occupy Changsha department store industryHalf。　　Store renovation to enhance economic efficiency the company raised funds to three projects, all for the expansion of the old Store transformation, department store development depends mainly on endogenous growth, optimistic about the store transformation brought about by the improvement of economic benefits. Friendship Store (A, B Hall) expansion and transformation. Friendship Store is located in Yuan Jialing shopping district, from the beginning of business has been operating high-end goods. Through the transformation will make the friendship store's total operating area expanded to 46,600 square meters. The formation locates in the boutique department store, faces the high-end and the young consumer's management pattern.　　The project company was launched in 2006 and 2007 respectively, and began to resume operations in January 2008, and has now shown great profitability. Home run many department store Chaoyang shop transformation. Chaoyang Shop is located in Changsha People's road, positioning for the general merchandise, to the region of the family as the consumer object. The company plans to make it a "civilian department store + brand discount" store.　　It is expected that after the transformation of operating performance will have a greater room for improvement. Apollo Commercial Square Whole transformation. The shop is located in the railway station business district, is a shopping, catering, leisure and entertainment as one of the large-scale comprehensive shopping center, is the company's largest single store. At present, Changsha does not have a representative shopping center. The company hopes to make use of the dominant position and influence of Changsha railway station's business district to build the store into a large shopping mall which embodies the commercial culture of Huxiang, and integrates shopping, catering, leisure, entertainment, tourism and service.　　After the transformation of the Apollo Commercial Plaza operating area will be expanded to more than 60,000 square meters. In addition to the old store renovation projects, the company will also be in the long-tan joint company has leased land 280 acres, development area of 100,000 square meters of the theme shopping Park, the construction of sales of international and domestic famous discount products, set leisure, catering and entertainment as one of the shopping center. The project location is very superior, Changsha, Zhuzhou, Xiangtan City consumers are only 30 minutes by car to reach. The Austrian theme park is expected to be officially open since 2010.　　Austria's main discount sales of high-grade brand broken code, over the season of goods, very consistent with the pursuit of high-level consumer consumption and the lack of consumption capacity of the characteristics, the project will bring greater profits for the company, worthy of investors look forward to. The next three years will continue to maintain the rapid growth of the company's growth in the next three years mainly from the existing friendship store, Chaoyang Shop, Apollo Commercial Plaza upgrades, to enhance the business area and ping pin; New Austrian theme discount Shopping Park, starting 2010 to contribute to sales revenue;　　The continuous expansion of sales revenue has resulted in a constant dilution of the period costs. Investment securities Forecast, the company's 09-11-year income reached 2.552 billion, 2.884 billion, 3.464 billion, year-on-year growth of 15%, 13%, 20%, respectively, the net profit reached 149 million, 190 million, 237 million, corresponding to EPS0.77 yuan, 0.98 yuan, 1.22 yuan, year-on-yearGrowth of 24%, 27%, 25%.　　CIC Securities is expected to achieve 2009-2011 sales revenue of 2.51 billion yuan, 2.887 billion yuan, 3.319 billion yuan, compound growth rate 14%,eps0.76, 1.00, 1.24 yuan, compound growth rate of 26%. Compared with the IPO price of 19.58 yuan/share, the investment value of the company is still outstanding. Company Chairman Hu Zijing pointed out that the company's IPO price is based on the preliminary inquiry results, comprehensive consideration of various factors, and the main underwriter of the Joint Securities consultation to determine the network under the oversubscribed multiple subscription ratio of 244.2 times times, the issue price of the corresponding price/earnings ratio is far lower than the average price-earnings ratio of the