Sun Art Retail 6808

Re: Sun Art Retail 6808

Postby winston » Tue Mar 03, 2015 6:10 am

Sun Art expects to hit it big as online sales boom by Ling Wang

The mainland's largest hypermart operator Sun Art Retail (6808) expects its e-commerce platform Feiniu.com to generate sales of 10 billion yuan (HK$12.36 billion) over the next two to three years from just 150 million yuan currently.

Feihu.com was launched last year and made a loss. Executive director Peter Huang Ming-tuan expects the platform to post a profit in three to five years.

He added that the website took in 6,000 orders in January from just 500 transactions last year. Feiniu.com currently operates in Shanghai, Zhejiang, Jiangsu and Anhui provinces. Huang said it expects to cover the whole nation this year.

Sun Art a joint venture between Taiwanese conglomerate Ruentex Group and French retailer Groupe Auchan said on Sunday annual net profit reached 2.91 billion yuan (HK$3.6 billion), up from 2.78 billion yuan in 2013.

Although turnover rose 6.6 percent to 91.86 billion yuan, same-store sales growth fell 1.6 percent. Chief financial officer Jean-Patrick Paufichet said sales of electronics were weaker, but food sales were up.

Huang said the firm expects flat same- store sales growth this year as the mainland's retail market has not yet recovered and amid falls in prepaid cards sales. He also cited the impact of e-commerce, which has hit store sales.

Chief executive Bruno Robert Mercier said the group plans to open 50 to 60 stores every year although sales will be hit by online platforms.

Source: The Standard HK
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Re: Sun Art Retail 6808

Postby winston » Thu Apr 09, 2015 2:46 pm

Mar 04, 2015

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<Research Report>SUNART RETAIL (06808.HK) kept Buy, target cut to $8.8 - Deutsche

Deutsche Bank stated that SUNART RETAIL (06808.HK)'s management is not encouraging for FY15 same store sales, given the decline in prepaid card sales.

However, it is confident that the company can maintain its EBIT through profit margin improvement and rapid net expansion.

The research house cut Sunart Retail's FY15-16 EPS forecast by 7% to 12%.

The target price was lowered from $10 to $8.8 and the rating was maintained at Buy.

Source: AAStocks Financial News
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Re: Sun Art Retail 6808

Postby winston » Thu May 14, 2015 11:05 am

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<Result Ann>SUNART RETAIL (06808.HK) 1Q net profit down 9.7%

SUNART RETAIL (06808.HK) announced results for the first quarter ended 31 March 2015.

Turnover rose 5.6% yearly to RMB29.294 billion.

Gross profit amounted to RMB6.318 billion, up 9%.

Net profit receded 9.7% to RMB1.065 billion, with EPS of 11 fen.

Source: AAStocks Financial News
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Re: Sun Art Retail 6808

Postby winston » Fri May 15, 2015 9:51 am

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Disappointing 1Q15 results

Despite 5.6% yoy revenue growth, Sun Art’s 1Q15 net earnings fell 9.7% yoy to Rmb1,065m (38% of our full-year forecast), below our expectations, mainly due to weak SSSG and losses from online platform, Feiniu.com.

We lower our FY15-17 EPS forecasts by 8.0-10.7% and cut our DCF-based target price to HK$6.4. Sun Art stays a Reduce as we expect continued weak SSSG in FY15 and more expenses for Feiniu.com.

https://brokingrfs.cimb.com/01L9_dU0NUC ... I8AFQ1.pdf
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Re: Sun Art Retail 6808

Postby winston » Wed Apr 01, 2020 11:16 am

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SUNART RETAIL(6808)

Analysis:
Sun Art Retail is a leading retail with hypermarket and fast-growing e-commerce businesses in China.

Sun Art Retail operates its hypermarket business under two recognized banners – “Auchan” and “RT-Mart”.

As of 31 December 2019, Sun Art Retail had a total of 486 outlets in China, covering 232 cities across 29 provinces, autonomous regions and municipalities.

In 2019, the company`s same-store growth rate was -1.01%, which was narrower than that in 2018 (-1.72%).

Among them, RT-Mart`s same-store growth rate has returned to positive.

The company`s B2C business is leading among peers and continues to grow rapidly, and its profitability is expected to continue to increase in the future.

Strategy:
Buy-in Price: $11.00, Target Price: $13.20, Cut Loss Price: $9.40

Source: Phillips
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Re: Sun Art Retail 6808

Postby winston » Wed May 13, 2020 1:02 pm

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SUNART RETAIL(6808)

Analysis:

Sun Art Retail is a leading retail with hypermarket and fast-growing e-commerce businesses in China.

Sun Art Retail operates its hypermarket business under two recognized banners – “Auchan” and “RT-Mart”.

As of 31 December 2019, Sun Art Retail had a total of 486 outlets in China, covering 232 cities across 29 provinces, autonomous regions and municipalities.

In 2019, the company`s same-store growth rate was -1..01%, which was narrower than that in 2018 (-1.72%).

Among them, RT-Mart`s same-store growth rate has returned to positive.

In 2019, the company`s same-store growth rate was -1.01%, which was narrower than that in 2018 (-1.72%).

Among them, RT-Mart`s same-store growth rate has returned to positive.

The company`s B2C business is leading among peers and continues to grow rapidly, and its profitability is expected to continue to increase in the future.

Strategy:
Buy-in Price: $11.50, Target Price: $13.20, Cut Loss Price: $9.40

Source: Phillips
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Re: Sun Art Retail 6808

Postby winston » Mon Oct 19, 2020 10:00 am

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BABA-SW Buys SUNART RETAIL's Controlling Stake, Proposes General Offer at $8.1/ Shr

BABA-SW (09988.HK) announced to invest a total of approximately HK$28.0 billion (US$3.6 billion) to acquire, through its subsidiary, Taobao China, from Auchan Retail International S.A. and its subsidiary an aggregate of 70.94% of the equity interest in A-RT Retail Holdings, which holds approximately 51% of the equity interest in SUNART RETAIL (06808.HK).

Under the Hong Kong Code on Takeovers and Mergers, after the completion of the Share Purchase, Taobao China will be required to extend a mandatory unconditional general offer in cash for all of Sun Art’s issued shares at the offer price of HK$8.1 per share, i.e. around 2.14% premium to the closing price on the last trading day.

Pursuant to this mandatory general offer, Taobao China may pay up to an additional amount of approximately HK$17.0 billion (US$2.2 billion) to acquire Sun Art’s shares held by other shareholders.

Source: AAStocks Financial News
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Re: Sun Art Retail 6808

Postby winston » Thu May 18, 2023 8:56 am

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Still in a transitional period

Sun Art reported that its FY3/23 revenue declined 5.1% yoy to Rmb83.7bn, below our expectation, due to lower rental income and weak offline revenue.

Net profit in FY3/23 was Rmb109m, beats our expectation, due to better exps. control.

For FY3/24F, management guided for flattish revenue and net profit yoy, as Sun Art will invest more in private labels, fresh goods supply chain and multi format stores.

Downgrade to Hold with a new DCF-based TP of HK$2.6. We expect Sun Art to still be in a transition period, striving to form a more profitable business model, in FY24F.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... B2C0DFC981
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