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The company has substantially increased its three quarterly earnings forecast by 14 times.

fengshengyanqi @ 2019/10/12

The disclosure of quarterly reports of A shares has opened the curtain. According to the regulations, the performance forecast for the first three quarters should be disclosed before October 15th, according to the larger performance changes. The performance notice has been released before, and in recent days, it has repeatedly issued the three quarterly bulletin notice of performance notice amendment, and the above performance is mainly.

In the evening of October 11th, Amway issued a revised notice of performance notice, and quite attractive to the market in terms of magnitude. The company expects net profit of 50 million 500 thousand yuan -5140 million yuan in the first three quarters, up 1441%-1469% compared with the same period last year, compared with the net profit run of 39 million 100 thousand yuan -4000 yuan in the first three quarters of the previous half year report, an increase of 1093%-1121% over the same period, an increase of more than 3 times.

The Amway stock of the main and middle class polyurethane synthetic leather has landed in the IPO stock exchange's GEM market in 2011, so far it has been 8 years since 2011. Judging from the earnings report, the company's total revenue has increased year by year after its capital market financing. The scale of corporate revenues has been increasing. However, the net profit has not been able to rise, and there has been no big breakthrough in the past years.

According to the results of the financial report, the net profit of Amway shares listed in the past few years was stable in the category of about fifty million. In 2017, it fell into a loss (-1666.29 million yuan), then lost profits in 2018 (net profit of 23 million 41 thousand and 600 yuan). The net profit in the first three quarters of this year increased 14 times compared with the same period last year (the contribution was half), so that the annual net profit of the 2019 annual report returned to 50 million yuan or more.

However, in terms of gold content, Amway's three quarterly report of high growth is not convincing for the market. During the reporting period, the company achieved a substantial increase of net profit by about 14 times compared to the same period last year, mainly due to three factors: first, the net profit base of the company in the same period last year was too low, only 3 million 276 thousand and 900 yuan in profit; second, during the reporting period, the price of the company's products increased, and the sales price of the main product polyamine synthetic leather increased by 5.92% over the same period last year, which played a stimulating role in the performance. Third, the government subsidy that was included in the current profits and losses totaled about 28 million 450 thousand yuan, an increase of 12 million 90 thousand yuan compared with the same period last year.

On the whole, the growth of financial reports in this pattern is hard to explain that enterprises are in a stage of rapid development in the past three quarters. Therefore, even if Amway shares announced that the three quarterly report was substantially increased to 14 times larger than the same period last year, the impact of the favorable degree will be limited.

In addition, under the good performance, we need to be vigilant. At the end of last month, Amway shares also disclosed the pre Disclosure Notice on the shareholding reduction plan for shareholders holding more than 5% shares, announcing the third largest shareholders of the company (12.14% stake), JINDA Enterprises Limited and fourth major shareholders (holding 10.75%) Hongkong min Fung Trading Co., Ltd. intends to clear the warehouse and reduce the delisting companies.

Personal analysis originating from wind and vitality For reference only.

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