High-end shoemaker C.banner is persisting with its expansion-led growth model, but slowing sales and rising costs will continue to squeeze margins, while inventory levels remain elevated.
Latest report
13 Jun 2013
Sections
Foshan Saturday – margin deterioration to continue
The Guangdong-headquartered shoemaker has failed to make progress in improving store productivity or reducing inventory, leading to declining margins and share price over the past year.
13 June 2013
China seeks a solution to land shortages
China’s land market is an often overlooked, but increasing important, aspect of the government’s drive to contain house prices.
13 June 2013
Fashion footwear – stepping into the future
Despite the almost total lack of near-term share-price catalysts, we remain positive on the medium- to long-term prospects for leading listed fashion-footwear makers.
13 June 2013
Time called on consumer subsidies
State media has reported that China will not issue any new short-term consumer subsidies this year, prompting debate as to the likely impact on retail sales, and on the new leadership’s economic reform efforts.
13 June 2013
Free-trade zone planned for Shanghai
Local commentators discuss whether plans for a new, enlarged free-trade zone in Shanghai will help the city to become a global financial centre.
13 June 2013
The great financial rollover
Risks are rising in the shadowy trust sector, as evidence emerges that much of the financing is merely being used to roll over maturing debts.
13 June 2013
Is it all downhill from here?
Several big – and inter-related – issues cloud the outlook for China’s economy. Industrial overcapacity, slowing fixed-asset investment (FAI), the dwindling efficacy of a long-running credit boom, heavily indebted local governments, a weak stock market, potentially volatile flows of hot money, a vast and unruly shadow finance system and official disquiet over rising property prices are some of the challenges preoccupying Beijing’s policy makers.
13 June 2013
Chinese home sales see pre-holiday surge
Sales of new houses in the 42 Chinese cities monitored by China Confidential rose in early June. Although, in part, this was due to sales being brought forward prior to this week’s holiday, there are increasing signs that the housing market is stabilising.
12 June 2013
RENMINBI COMPASS
Renminbi Compass reflects key changes in the renminbi-denominated investment environment.
Providing research coverage on asset classes as diverse as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art and antiques, as well as its traditional equity fund research.
Renminbi Compass provides orientation for investors navigating the expanding universe of renminbi asset classes.
