Xinhua Department Store is mainly engaged in commercial retail logistics commercial property rental. 23 stores were added in this issue. Reduced by 23 companies.
This period revenue was 3.1 billion yuan and net profit was 50 million yuan. Earnings per share was 0.22. Roe 2.5%.
Sustainable growth rate self-sustainable growth rate(SGR)=Net sales profit margin × Total asset turnover rate × Profit retention rate × Equity multiplier /(1-Net sales profit margin × Total asset turnover rate × Profit retention rate × Equity multiplier)=1.8%
Dipate payment rate 25%. This company basically distributes dividends, profit retention rate 75%, WACCh3.8%.
P-earnings ratio for this period = [dividend payment rate × (1+growth rate)]÷ (Equity Cost-growth rate)=12.7,P-earnings ratio for this period is 21.
per share value is 12.7*0.22=2.8. The current share price is 15, which is obviously overvalued.
Included growth rate =Included growth rate=Net profit/net operating assets*Profit retention rate/(1-Net profit/net operating assets*Profit retention rate)=0.5/28*0.75/1-0.5/28*0.75=1.3%.
This issue is mortgaged by the subsidiary's commercial real estate, and a total of 90 million yuan of long-term loans from banks were obtained. The loan interest rate is between 4.25% and 4.65%. After-tax debt cost 3.2%.
The company's main stakes are basically mainly based on losses. Among them, Yinchuan Xinhua Department Store chain made a profit of 62 million yuan.
Inventory for this period is 780 million. Mainly raw materials. Inventory goods , contract performance cost, entrusted sales of goods.
long-term receivables .03 billion, mainly financial leasing funds, of which the unrealized financing income is 8.74 million. The discount rate is between 4.7% and 5.3%.
Long-term equity investment, associate company Ningxia Jiutian Technology. 65 million. This period is losing money. Confirmation of investment income-122. This is the company's investment in 49% of the shares based on land use rights and related fixed assets.
other financial assets are 100 million. The bigger one is Ningxia Bank .08 billion. It should be measured as other equity tools .
Investment real estate is 70 million. This period added cumulative depreciation of 36 million yuan. Includes and other business costs .
fixed assets of 1.9 billion. The cumulative depreciation of this period is 840 million.
fixed assets leased through operating leases of 17 million.
borrow fixed assets 0.17
loan bank 0.17
borrow other business costs
loan cumulative depreciation Depreciation.
under construction project 290 million. Including the renovation of Xinhua store’s backyard and Helan Xinbai Commercial Plaza. Xinmei Data Center Retail Project.
Long-term deferred expenses .676 billion. All are renovation projects.
deferred income tax assets .013 billion. Among them, the unrealized profits of internal transactions generated 2.27 million. deferred income tax liability .039 billion. There are non-combined consolidated assets with an interim taxable interim difference of 70 million.
Lease liabilities 2.58 billion. Unconfirmed financing expenses -885 million.
borrowing right assets
loan lease liabilities 25.8
lease liabilities - unrecognized financing expenses 8.85
contingent matters. Adewi Company and its subsidiary Qinghai Xinbaiyou Construction Project Construction Contract Dispute.
Our company has a contract dispute with the World Group.
