Shoemaker orders are full



Yuqi (9802), a major shoe manufacturer, saw an annual revenue growth of over 40% from January to November 2021, with impressive operations.



According to legal person analysis, December and January are usually the relatively high points of a company's monthly revenue. We are optimistic about future revenue growth, and the overall Q4 operation is expected to be better than Q3. In 2021, the EPS is expected to exceed 6 yuan.



The implied Dividend yield is more than 4% based on the company's past interest distribution rate of about 70%.



Yuqi's revenue from January to November 2021 reached 13.898 billion yuan, with an annual growth rate of 40.74%. According to legal person analysis, December and January are usually the relatively high points of the company's monthly revenue, and it is optimistic about the continued growth of revenue momentum in the future.

The company achieved a consolidated profit of 797 million yuan and an EPS of 4.29 yuan in the first three quarters of 2021, which is better than the 4.06 yuan in the same period of 2020. The legal representative expects that the company's Q4 operation will continue to grow compared to Q3, and the annual EPS is expected to exceed the level of 6 yuan or more.




In the past, the standard dividend distribution rate of the company was more than 50%, but in fact, it remained at about 70%. From the current stock price, the implied Dividend yield exceeded 4%.



In the past two years, due to the interference of the epidemic, there have been frequent closures or downsizing of small and medium-sized shoe factories, which has led to a tightening of supply and demand in the overall shoe market. Yuqi emphasized that at present, there are full orders and production capacity is in short supply, and has a positive view on the continued growth of revenue in 2022. The legal entity estimates that Yuqi's operations can maintain double-digit growth in 2022.



New shoes and leather repair in Haidilao's business scope

Haidilao newly added shoes business




According to Tianyan's App search, recently, Haidilao's affiliated company Xinpai (Shanghai) Catering Management Co., Ltd. has undergone an industrial and commercial change, adding "nail service", "shoes and leather repair", etc. to its business scope.
Xinpai (Shanghai) Catering Management Co., Ltd. was established in May 2013 with a registered capital of approximately 86.1136 million RMB, and its legal representative is Liang Yangbing.

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