There Is No Sign Of Revival In The Dream Home Textile Business.

< p > it is no exaggeration to say that < a href= "//www.sjfzxm.com/news/index_c.asp" > Meng Jie home textile < /a > is now in the most difficult period since its listing.

The company has already reported that its net profit margin attributable to shareholders of listed companies has been -50%-0% in 2012.

The main reason is that the macroeconomic environment affects the market demand of high-end products, and the continuous market input leads to higher corporate expenses.

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< p > reporter noted that compared with the home textile listed company's home textiles and fuanna, the performance of Meng Jie home textiles has the largest decline, and the stock price has also fallen the most.

Wang Peng, an analyst at UBS Securities, said recently that "in the first half of 2013, the company will continue to focus on savings, and it is difficult to see the turning point of its performance."

He also maintained the company's "sell" rating.

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< p > < strong > annual net profit fell sharply < /strong > < /p >

< p > in 2011, the performance of the company still maintained a 22% growth rate. In 2012, Meng Jie home textile was hit by "Waterloo". After the first half of the year's growth decline, the net profit in the third quarter came to a loss, which also resulted in the net profit of only 46 million 67 thousand and 400 yuan attributable to shareholders of Listed Companies in the first three quarters, down 28.68% from the same period last year.

Meanwhile, in the three quarterly report, the company expects annual performance to decline within 50%.

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< p > in fact, after the three quarter of the company was released, there were market participants who thought the performance was "below expectations", especially the cost of the company increased by 5.06 percentage points, showing that the cost was not effectively controlled.

In addition, influenced by factors such as continuous consumption of terminal consumption, the company's final inventory has reached 527 million yuan, accounting for 65.4% of its revenue, and a small increase in accounts receivable of 135 million yuan; the net cash flow generated by operating activities is -1.5 billion yuan.

All the financial indicators show that the operation is worrying.

Journalists in the industry learned that, due to the continued downturn in demand, the national day, Christmas and new year's day had a rather dull effect on the company's fourth quarter sales. The fourth quarter was less than a href= "//www.sjfzxm.com/news/index_s.asp", and sales were less than /a.

This is also supported by the sharp decline in annual performance of the company.

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< p > < strong > it is difficult to see the turning point of performance < /strong > < /p >.

< p > the performance of the two tier market of dream home textile is also very bad.

Since its record high in August 2011, the company has been on the low side, and the decline in 2012 has reached 54.69%, ranking the top of the A share decline.

On the other hand, the net profit of the home textile listed companies in 2012 is estimated to be -15% to 15%, while that of fuanna is 3%-30%.

The decline of these two stocks was also significantly smaller than that of the dream home textiles, which fell by 41.55% and 16.10% respectively in 2012.

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< p > it is worth mentioning that, from the current situation, the business crisis of Meng Jie home textile has not been improved after entering 2013.

Wang Peng, an analyst at UBS Securities, said, "a href=" //www.sjfzxm.com/ "target=" _blank "> clothing < /a > terminal retail of home textile industry has not yet seen obvious signs of recovery, and demand continues to be fascinated.

Due to the lack of cost control in 2012, the sales cost rate has risen sharply. In 2013, the company will focus on improving the quality of open shop, continuing to carry out big promotion and strictly controlling sales expenses, but its effect needs to be tested by the market.

It is expected that in the first half of 2013, the company will still focus on stock elimination, so it is difficult to see the turning point of its performance.

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< p > he also said that the target price of the company was 8.6 yuan, maintaining the "sell" rating.

At present, the price of the two level market of the dream home textile is 12 yuan. If the target price is reached, it means that the stock price of the company will have a drop of nearly 30% in the future.

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