Weixing shares (002003) quarterly report comments: Q3 2019 single quarter performance growth improved month-on-month
The company announced three 杭州桑拿网 quarterly reports. As of 2019Q3, the company achieved revenue of 20.
52 ppm, a 10-year increase3.
05%, net profit attributable to mother 2.
80 ppm, a decrease of 7 per year.
39%, net profit after deducting non-return to mother 2.
71 ppm, a decrease of 8 per year.
The growth rate of the company’s revenue and net profit attributable to mothers in Q3 2019 improved month-on-month.
36 ppm, an increase of ten years.
47%, net profit attributable to mother 1.
1.4 billion, down 6 every year.
24%. In the second quarter of 2019, the company’s single quarter revenue and net profit attributable to mothers continued to decline by 4 respectively.
85% and 10.
80%, the company’s third-quarter revenue and net profit attributable to mother have improved on a sequential basis, it is expected that the order situation has improved.
The gross profit margin of Q3 2019 decreased, and the expense ratio remained basically stable during the period.
45%, down 2 every year.
2019Q3 company selling expenses expenses 9.
35%, a decline of 0 every year.
A total of 48 subsidies for management and R & D expenses11.
34%, an annual increase of 0.
03 per share, financial expenses 0.
11%, an annual increase of 0.
32 budgets, period expenses 20.
80%, a decline of 0 every year.
Thirteen totals, during which the expense rate remained stable overall.
Earnings forecast and 合肥夜网 investment rating EPS is expected to be 0 in 19-21.
48 yuan / share, the current price corresponds to 15 times PE in 19 years. The company is the leader in the auxiliary materials industry. Although it is under short-term pressure, orders in Q3 2019 have improved.The 5-year average PE (TTM) assessment is 19 times, taking into account the short-term performance pressure, the 19-year PE assessment is given 17 times, a reasonable value6.
63 yuan / share, maintaining the “overweight” rating.
Risks indicate the risk of price increases of raw materials; the risk of price cuts involved in products; the performance of military industries is lower than expected risks.