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: 118527
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: 118527
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: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Ajisen 538

Postby winston » Thu Mar 14, 2019 8:03 am

not vested

Ajisen China alleges ex-CFO misappropriated HK$23.6m

Ajisen China Holdings alleged in a statement today HK$23.63 million have been misappropriated by chief financial officer Robert Lau Ka-ho, through fraudulent checks between January 2012 and November 2018.

On December 14, last year, the company said Lau is suspected to have misappropriated certain funds of Ajisen China Group Management, which is a wholly-owned subsidiary. The funds were transferred to the personal bank accounts of Lau.

The amounts have been reflected in the company’s audited financial statements for the respective years as staff expenses.

The financial position of the company for the year ended December 31, 2018 is expected to be impacted to the extent of HK$5.53 million.

This compares with the group’s unaudited consolidated turnover and unaudited consolidated net profit for the six months ended June 30, 2018 of

1.15 billion yuan (HK$1.34 billion) and 133.77 billion yuan (HK$156.51 billion) respectively.

The company has engaged RSM Consulting (Hong Kong) an independent consultancy on March 11, 2019, to investigate the Incident, and to review internal control procedures and systems and make recommendations to the board to address and rectify the weaknesses identified, if any.

The investigation and review are ongoing.

The company has taken formal legal action to recover its loss, Ajisen China said.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0313&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: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Ajisen 538

Postby winston » Mon Oct 21, 2019 5:46 am

not vested

Ajisen quarterly same-store sales rise

Ajisen (China) (0538) posted a same-store sales growth of 6.9 percent year-on-year for the quarter ended September 30.

The company's fast casual restaurant business sales in mainland China also grew 9.9 percent from a year ago.

Shares of Ajisen rose 1.27 percent, or 3 HK cents, to close at HK$2.39.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 1018&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: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Ajisen 538

Postby winston » Tue Feb 06, 2024 9:32 pm

not vested

AJISEN (CHINA)(538)

Analysis:

For the six months ended 30 June 2023, Ajisen`s turnover increased by 30.6% to RMB885 million.

The increase in revenue is mainly due to the global easing of the COVID-19 pandemic.

Restaurants are able to operate at full capacity without any epidemic restrictions, allowing the company to achieve higher revenue compared to the same period last year, despite a reduction in the number of stores.

Profit attributable to owners of the company amounted to RMB133 million (30 June 2022: loss of RMB107 million).

For the period, gross profit increased by 34.0% to RMB665 million, while gross profit margin of the company increased to 75.1% from 73.3% for the corresponding period in 2022.

In addition to the gradual recovery of the business from the pandemic, the company is expected to continue to increase sales by optimizing store operation efficiency in the second half of the year, which is expected to bring greater return on investment.

Strategy:
Buy-in Price: $0.97, Target Price: $1.08, Cut Loss Price: $0.90

Source: Phillips
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: 118527
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 9 guests

cron