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Mainland sustained economic growth, income of urban residents continued to improve, the scale of the urbanization process accelerated the expansion of the city, driving city Home Appliances The market's long-term strong demand, is electronics retail chain, continued expansion and extension of the basis for endogenous growth. Down the real estate boom in consumer demand for urban household appliances update the short term negative impact to a certain extent, but long term, short-term suppression of the demand will be released in late middle; the present high inflation on the demand of rural households appliances strong inhibition, but Engel's coefficient is high, and inflation factors appliances raise the price of inflation on the retail market of the city appliances small home appliances retail Inflation ability. Appliance upgrades, improvement of income level, drive consumer appliances to upgrade the city, especially in flat TV Replace CRT Color TV, more energy-efficient frequency conversion Air conditioning Alternative fixed speed air conditioning, and 3G Mobile Era, Small appliances The popularity of the family in the town that gave birth to a new round of urban consumer appliance market upsurge. In communications, IT, Digital Areas such as 3C products, although the chain still faces professional, computer city competition, the level of home appliance chain industry margins have declined, and kept at a lower level, but the establishment of the channel, capital, management and many other advantages of the integrated speed speed up market share quickly to Suning , The National US-focused. Large home appliance chain at this market segment will gain a larger market space. In the home appliance retail competition, Suning, Gome, represented by the large home appliance chain enterprises based on size, channel, brand, logistics systems and management and capacity costs of lead significantly, the basic completion of the traditional home appliance market integration, oligopoly competitive situation, market share to Suning, Gome concentrated. But with Europe and the United States, Japan, compared to mature markets, the market concentration is still not high enough, Suning, Gome's market share is still large room for improvement. The end of channel integration of traditional household appliances, market competition strong competition from the more competition to the duopoly change, household appliances retail market has entered a new stage of development, the reduction in competition, bringing gross margins, consolidated gross margin and net profit margin improved. Meanwhile, the single-store profitability was improved compared with comparable-store revenues and significantly improved. Single-store profitability and earnings quality, increase access to nature, Suning, Gome has entered a new stage of endogenous growth. From a valuation perspective, Suning, Gome now corresponds to 2009 PE of 14 times the level of Europe and the United States and Japan market, Bestbuy, Yamada premium is not high in comparison, taking into account the Suning, Gome and the sustainability of high growth China's huge market space for development, the valuation is more obvious advantages. Suning Appliance to maintain "strong buy" recommendation, given in 2009 PE of 25 times the valuation, target price of 67.5 yuan. The e-commerce company in China offers quality products such as leather briefcases Manufacturer , leather business briefcase, and more. For more , please visit large leather briefcase today!
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