Ajisen 538

Re: Ajisen 538

Postby winston » Mon Aug 28, 2017 9:03 am

not vested

Expect topline growth acceleration in 2H17

Ajisen’s 1H17 core net profit rose 31.6% yoy to Rmb108.6m, above our expectations due to better-than-expected OPM expansion.

With SSSG recovering to positive territory in 2Q16 post 10 consecutive quarters of decline, we expect acceleration in store openings which will drive topline growth.

We believe market has priced in the negative news on Baidu Waimai, and further clarity on the topic in the near term should remove share price overhang.

We raise our FY17-19F EPS forecasts by 0.5-3.6% on the back of stronger margin expansion.

Maintain Add with higher DCF-based TP of HK$4.00 (WACC: 10.5%).

Source: CIMB

https://brokingrfs.cimb.com/KRVyDj4R433 ... 5zjhA2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 100651
Joined: Wed May 07, 2008 9:28 am

Re: Ajisen 538

Postby winston » Wed Oct 25, 2017 8:57 am

not vested

Remarkable SSSG recovery in 3Q17

Ajisen’s PRC SSSG of +9.7% in 3Q17 marked a significant improvement over +1.6% in 2Q17; this should boost investor confidence, in our view.

We forecast revenue growth of 5.7% in 2H17F on the back of continued strong SSG
recovery and 50 net store openings in 2H17F.

Online takeaway business continues to grow well.

Maintain Add and TP of HK$4.00.

Source: CIMB

https://brokingrfs.cimb.com/sA9UKpNTA0X ... _SXcw2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 100651
Joined: Wed May 07, 2008 9:28 am

Re: Ajisen 538

Postby winston » Wed Jan 17, 2018 7:41 am

not vested

Ajisen sales growth down

by Samantha Wong

Restaurant operator Ajisen (China) Holdings (0538) said its same store sales growth rate dropped 7.9 percent in Hong Kong for the fourth quarter ended December 31, while same store sales growth rate in China was up 5.3 percent.

The group's fast casual restaurant business sales grew 2.4 percent. Its shares closed at HK$3.77 yesterday, up 18 HK cents or about 5 percent from the day before.

As at June 30 last year, the group's restaurant portfolio consisted of 649 Ajisen chain restaurants, with the most in Shanghai with 132 restaurants, followed by 78 in Jiangsu and 60 in Zhejiang. While Hong Kong has 29, down from 37 a year earlier.

The group's four major factories are in Shanghai, Chengdu, Tianjin and Dongguan.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0117&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 100651
Joined: Wed May 07, 2008 9:28 am

Previous

Return to A to B

Who is online

Users browsing this forum: No registered users and 2 guests

cron