Sa Sa International 0178

Re: Sa Sa International 0178

Postby winston » Sun May 11, 2014 8:59 am

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SA SA INT'L (00178.HK) upgraded to Buy, target reduced to $7.64 - UBS

2014-04-17

The stock price of SA SA INT'L (00178.HK) -0.370 (6.491%) Short selling $31.17M; Ratio 24.643% has plunged 30% over the past three months, which UBS believed the negatives have been factored in.

The broker lowered its earnings per share forecast on SA SA INT'L by 9%/8%/8% for 2014-16 to reflect lower same stores sales growth and profit margin.

Meanwhile, the target price was reduced from $8.25 to $7.64. Yet, SA SA INT'L is trading at 20x/17x FY14E/15E PE, which will give support to the stock price.

As such, UBS upgraded SA SA INT'L from Neutral to Buy.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Sun May 11, 2014 9:15 am

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SA SA INT'L (00178.HK) rated Neutral, target reduced to $6.9 - CS
2014-02-12

According to Credit Suisse, SA SA INT'L (00178.HK)'s same store sales in Hong Kong and Macau only increased 3% year-on-year during the first seven days of the Year of the Horse, the slowest growth since the first half of the fiscal year 2010.

Though the sales volume rose 20% during the period, each transaction amount dropped 10% on average, indicating a change of consumption habit of mainland tourists.

The research house reduced the company's 2014-16 earnings forecasts by 2-4%, and lowered the target price from $7.7 to $6.9, representing 2015E P/E of 17x.

The stock was still rated Neutral.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Sun May 11, 2014 9:20 am

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SA SA INT'L (00178.HK) rated Buy with target lifted to $9.8 by Citi
2013-11-19

Citigroup is still bullish on SA SA INT'L (00178.HK)'s resilient sales growth momentum and its flexible product restructuring strategy.

It believed the strong sales in the local market could offset the weak performances in the Mainland and Singapore markets.

The broker raised the company's 2014-16 earnings forecast by 4-9% to reflect the better-than-expected interim results and the increase in own-brand sales, which would help make long-term improvement in gross margin.

The target price was lifted from $9.2 to $9.8 with the Buy rating unchanged.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Tue Jun 17, 2014 11:22 am

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<Research Report>Macquarie slashes SA SA INT'L (00178.HK) target to $8.4
May 14, 2014

Macquarie reduced its FY14/FY15 net profit after tax forecast on SA SA INT'L (00178.HK) by 5%/7.5%, respectively, to reflect possible store closure costs in China, higher marketing expenses and weaker SSSG assumptions for Hong Kong.

The broker slashed SA SA INT'L (00178.HK)'s target price from $9.1 to $8.4, but the rating was unchanged at Outperform due to the brand awareness of the company in both the mainland China and Hong Kong.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Thu Jun 26, 2014 2:25 pm

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SA SA INT'L (00178.HK) annual net profit up 13%
2014-06-26

SA SA INT'L (00178.HK) +0.110 (2.140%) Short selling $682.24K; Ratio 4.647% announced that for the year as of the end of March, the net profit rose 13.27% yearly to $935 million, representing EPS of 33 cents.

A final dividend of 9 cents, coupled with a special dividend of 5.5 cents, was declared. Including the dividend previously announced, the full-year dividend equals 23.5 cents.

During the period, the turnover rose 14.16% yearly to $8.756 billion; gross profit rose 14.46% yearly to $4.073 billion; gross profit margin rose from 46.4% to 46.5%.

The retail sales value in Hong Kong and Macau rose 16.7% yearly to $7.122 billion; same-store-sales rose 12.8%.

The number of retail shops rose from 260 to 280.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Thu Jun 26, 2014 6:44 pm

SA SA INT'L (00178.HK) sees single digit growth in 2014 SSSG
2014-06-26

SA SA INT'L (00178.HK) +0.160 (3.113%) Short selling $3.09M; Ratio 3.587% reported SSSG in HK and Macau had drastically declined from 18.6% to 1.5% in 1Q.

Chairman Kwok Siu Ming commented the performance was worse than expected, since the business performance was negatively affected by the weakened consumption power of travelers, coupled with the austerity policy in China.

Nevertheless, Kwok projected SSSG will increase by a single digit percentage in 2014.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Thu Jun 26, 2014 7:05 pm

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SA SA INT'L (00178.HK): Rent rises 24.7% in April-June
2014-06-26

SA SA INT'L (00178.HK) +0.160 (3.113%) Short selling $3.09M; Ratio 3.587% Chairman Kwok Siu Ming stated rent of shops had increased 24.7% in average in April-June, while the figure was 43% last year.

He projected the rent will unlikely to move down in the future, especially for branches in prime locations.

Kwok mentioned the group will relocate certain shops in the future in order to reduce rental expenditure.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Wed Jul 02, 2014 1:16 pm

General cosmetics may no longer be imposed of general consumption tax - report
Jun 30, 2014

According to the sources of Legal Daily, China's Ministry of Finance is considering to classify the cosmetic products into high-end cosmetics and general cosmetics, and those belonging to general cosmetics may no longer be imposed of general consumption tax.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Wed Jul 02, 2014 1:17 pm

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<Research Report>SA SA INT'L (00178.HK) kept Hold, target reduced to $5.81 - Deutsche

Deutsche Bank mentioned that SA SA INT'L (00178.HK)'s FY2014 net profit rose 13% to $935 million, coming in line with the market estimate but missing its forecast by 8%.

The bank lowered SA SA INT'L's FY2015/16 net profit estimates by 20% and 21% respectively, and reduces its target price from $7.24 and $5.81.

The Hold rating was maintained unchanged.

Source: AAStocks Financial News
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Re: Sa Sa International 0178

Postby winston » Wed Jul 02, 2014 1:19 pm

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<Research Report>SA SA INT'L (00178.HK) downgraded to Neutral, target price cut to $5.5 - Citi
Jun 27, 2014

Citigroup gave a rating downgrade for SA SA INT'L (00178.HK) from Buy to Neutral, with target price lowered from $7.3 to $5.5, representing estimated P/E of 15x, which is lower than the historical average of around 17x.

To reflect the slowdown in growth of local business and the weak gross margin prospect, the research house reduced the earnings forecasts for FY2014 and FY2015 by 7% and 16% respectively.

Source: AAStocks Financial News
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