Vapor factory：Tobacco, e-cigarette, packaging and printing concept hot stock

Jiyou shares closed at the daily limit of 30.36 yuan. The stock has a daily limit at 15:00, but it does not open the daily limit. At the closing, the closed-end fund was 1074700 yuan, accounting for 0.01% of its current market value.

In terms of capital flow data, the net inflow of main funds was 4.25200 yuan, the net inflow of hot money was 6.8284 million yuan, and the net inflow of retail funds was 4.2996 million yuan.

The stock is a popular stock of tobacco and e-cigarette, packaging and printing concept. On the same day, the concept of tobacco increased by 2.23%, the concept of e-cigarette increased by 1.89%, and the concept of packaging and printing increased by 1.49%.

The investment logic of this stock is as follows:

Domestic enterprises with advantages in the cigarette binding paper industry are mainly engaged in the production of cigarette binding paper, cigarette label, cigarette sealing paper and anodic aluminum oxide; The cigarette brands served by the company include Yunyan, Honghe, Dajing liquor, Lanzhou series, Huangshan series, Hongxi series, HaoMao series, diamond series, tianxianxiu series and many other well-known brands; Anodized alumina, an important raw material for cigarette packaging paper, has achieved stable production, and the relevant indicators have reached or even exceeded the level of domestic mature enterprises; In 19, the revenue of packaging and printing was 669 million yuan, accounting for 99.67% of the revenue.

2. One of the earliest manufacturers specializing in the production of cigarette packaging paper in China, mainly engaged in cigarette packaging paper, cigarette sealing paper and anodized alumina; The company has supplied 9 of China's 18 provincial tobacco companies and served cigarette brands such as Yunyan, Honghe, Daban liquor, Lanzhou series, Huangshan series, Hongxi series and HaoMao series. For the important raw material of cigarette binding paper, anodized is basically self-produced; In July 2019, the holding subsidiary Ji youguangyu and Nantong tobacco filtration company signed the memorandum of cooperation on R & D of new tobacco homogeneous plate. The total revenue of cigarette labels, cigarette packaging paper and sealing paper in the whole year was 666 million yuan, accounting for more than 95% of the main business.

3. In March 19, the company said that it had signed a framework agreement with Anhui China Tobacco in October 17 to create new tobacco products. Its research directions mainly include electronic cigarette liquid, heater, atomizer, etc. In July 1919, Jiyou Guangyu, a holding subsidiary, signed a new cooperation agreement on the R & D of tobacco homogeneous plates with Chongqing China Tobacco Technology Center; The non combustible e-cigarette products of the subsidiary will be sold in the first quarter of 21.

From the financial situation, the third quarter report of Jiyou shares in 2021 shows that the company's main revenue is 462 million yuan, a year-on-year increase of 51.95%; The net profit attributable to the parent company was 91.7928 million yuan, a year-on-year increase of 168.35%; Deduct non net profit of 85.4952 million yuan, a year-on-year increase of 213.7%; In the third quarter of 2021, the company's main revenue in a single quarter was 183 million yuan, a year-on-year increase of 91.73%; The net profit attributable to the parent company in a single quarter was 39.4552 million yuan, a year-on-year increase of 400.12%; The quarterly non net profit was 37.285 million yuan, a year-on-year increase of 603.87%; The debt ratio is 26.46%, the investment income is 995300 yuan, the financial expenses are -11819700 yuan, and the gross profit margin is 37.17%.

According to the securities Star valuation analysis tool, Jiyou (603429) has a good rating of 3.5 stars, a good price rating of 2.5 stars and a comprehensive valuation rating of 3 stars. (rating range: 1 ~ 5 stars, up to 5 stars) in the last 90 days, one agency has given a rating and one agency has bought a rating. The average institutional target price in the past 90 days was 24.56;