129729332267656250_186-EXER

Liu Jiawei Golden seeds of wine (600,199), released January 20 2011 pre-increase announcement of annual results, due to liquor sales revenue growth, improved sales structure, the product gross profit margin increased, expected 2011 attributed to owners of the parent company net profits rose more than 110%. In this calculation, 2011 earnings per share of the company at more than $ 0.64, Slightly below our expectations in the three quarterly reviews. According to our investigation of the grass-roots, 2011 the actual overall sales of the company significantly exceeded expectations, but more cost-total for the four quarters and take into account factors such as sales income smoothing to the first quarter of 2012, four-quarter net profit before growth rates significantly lower than the growth rate in the third quarter and cumulative growth in the third quarter. Net profit in 2011Rose 110% calculation, growth in net profit in the last quarter of 2011 year for 27.14% only, substantially lower than the first three quarter 152% growth. "Hui-Yun" vintage gold seed has spread in the Anhui Province, formed a good relay situation, elevating the brand level. Growth of the company in the market in the province relay, continued to take a deep, penetrating, doing fine, doingStrong. Foreign market marketing mode of replication within the province, relay market growth in the province, the company targets reconstruction within five years a market in Anhui Province. ����Company plans in Huangshi, Hubei Xianning, Hubei Huanggang, and 10 in Jiujiang, Jiangxi, Anhui border region, 72 counties and county-level market building a level of 100 million dollars. Golden seeds of wine is the production of Luzhou-flavor liquor, but on the product quality demands,Some popular elements such as height and liquor industry distinguishes wine, spirits, and adhere to the quality of green, soft taste, "do not rush do not sting", creating a new consumption trend of liquor. In addition, the Fuyang city government strongly supports requiring "Twelve-Five" corporate "five doubling" objective, namely, to market to quadruple sales quadrupled, doubling in net profit, paid taxesGold doubling, quadrupling employees with an average annual income. Based on the corporate market relay, relay, relay, relay and management philosophy of Marketing Innovation Relay to bring high growth performance is expected, and strongly supported consideration of the Fuyang city government, we believe that the company's net profit in the future growth of more than three years will remain 50%, expected in 2012 and 2013 per unit chargeYi-$ 1.11 to $ 1.67. Currently undervalued, maintain the "highly recommended" rating. ����Risk: high end brands in the company "Hui-Yun" in addition to the Hefei city promotion may be lower than expected, foreign market due to lack of regional managers, and so affect the growth rate. (Author: rising stock practising certificate number: S1480510120001)