129773903182031250_61Paper light: Home toy surprise paper profits are still at the bottom
Profit differentiation clearly points a quarter of investment industry of light industry, printing and packaging and toy industries are small ripple effects. We operate from December, with downstream operations of export and industry analysis, light industrial manufacturing downstream requirements of most industries had not improved significantly, especially in durable goods industries export-related and cycle, the economy still lingered at the bottom;The other hand, printing and packaging and toy industry with a certain degree of consumer properties, business is relatively stable, there is not much impact, but overall declines in growth rates have some. Expected profit more excellent enterprises exist in the stable of industry and Enterprise continues to expand. We think the 1 quarter, demand stable business to exceed market expectations
tera power leveling, such as the toy industryStar model, the company exports remained stable, sales continued rapid growth, still in the rapid development of product penetration, is expected in the first quarter is still able to maintain growth above 30%; also, in a stage of rapid expansion of the company's enterprises can maintain rapid growth, such as home of the Sophia, despite the real estate industry is still at the stage of regulation, but Sophia in franchisingIncreased investment in 2011
tera gold, is expected to open 300 new stores in 2012, will maintain a speed of 200 new stores, we expect Sofia 1-quarter orders, maintain a rapid growth in demand, up to 30%. We expect this type of industry stability, no danger of fell, such as novel shares. Expected earnings do not reach the expected enterprise focused on the weekPlate. Learned from the industry from top to bottom tour, poor demand in the lower paper plates in terms of export growth rate is not high, and the Spring Festival factor, rising paper prices have been able to, and inventory in high, so wandering first-quarter profit is expected to remain at the break-even point, while others have a lot of capacity to inject, and the company of a higher base last year, growth is expected to slow. Investment strategies and recommendations of the second quarterRecommended configuration of steady growth of consumption and bottom out at the bottom of a cyclical company. We recommend that investors should focus on demand in the second quarter strong listed company, recommend a stable growth in light industry enterprise consumer, such as the Star model, novel, such as shares, Kan, also concerns East point shares (not rated), wonderful setting shares (not rated), these companies benefit from cost down whileNeeds more stable, have a certain price advantage, be able to enjoy the dividends of cost and 1 quarter operating performance is expected to have some protection. In addition, paper prices started in March bottoming, paper company second quarter earnings upward trend was established, we recommend dissolving pulp products companies
tera power leveling, such companies will benefit from the price of paper and cotton prices upward, as the Sun paper, and so on.
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