2016 YOUNGOR'S Online Revenue Doubled In The First Half Of The Year.

　　 Both clothing sector revenue and gross margin declined.

In the evening of August 31st, Youngor During the reporting period, the company achieved operating income of 8 billion 667 million yuan, down 0.53% from the same period last year, and realized net profit of 3 billion 71 million yuan, an increase of 5.78% over the same period last year. Among them, the apparel sector achieved 2 billion 214 million yuan in the first half of the year, down 7.2% from the same period last year, with a net profit of 395 million yuan, which shrank by 21.91% compared with the same period last year.

For the reasons for the decline in the income of the clothing sector, Youngor The relevant staff of the Securities Department said in an interview with reporters that they were mainly affected by warm winter, and the income dropped a lot before and after the Spring Festival. In addition, YOUNGOR continues to push forward the "big store strategy". Due to the continuous growth of rigid cost during the construction period and cultivation period, the profit level of garment business has become a drag. China Network Finance noted that the first half of 2016 Youngor The selling cost is 747 million yuan, up 3.55% compared with the same period last year.

From the point of view of sales channels, the revenue of self marketing and shopping malls which contributed most of YOUNGOR's revenue has declined, the shrinkage ratio is 6.51% and 7.01% respectively. It is understood that this is the first time that the business has declined in recent years; the income of the franchise and group buying channel has continued to decline by two figures, falling by 12.21% and 23.85% respectively. It is gratifying to note that YOUNGOR's online revenue doubled.

Apart from the obvious decline in revenue, Youngor The gross margin of clothing business also disappointed investors. Data show that YOUNGOR clothing The gross profit margin of the first half of the year was 65.08%, down 2.85 percentage points compared with the same period last year. The staff of YOUNGOR said to China net financial reporter that the main reason is "price goes to stock". Half year report shows that as of June 30th, the book value of YOUNGOR clothing business was 1 billion 687 million yuan, a decrease of 193 million yuan compared with the beginning of the year.

In addition, the number of YOUNGOR entities stores has also declined. According to the China Daily, as of June, Youngor There were 3230 sales outlets, representing a decrease of 7 compared with the beginning of the year. In the past financial reports, the majority of YOUNGOR's stores are expanding.

　　 Investment CITIC shares float 3 billion 400 million yuan three stakes or break the main business pattern

YOUNGOR's investment business can be accelerated as compared with the garment industry. In recent years, YOUNGOR has gained the reputation of "investment bigwigs" in recent years. According to statistics, YOUNGOR invested 12 billion 316 million yuan in total investment in 2007-2015 years, accounting for nearly 40% of the total profit in the current period.

YOUNGOR's first half year "stock speculation" proceeds (source: 2016 semi annual report)

　　 Youngor The semi annual report has just revealed that as of June 30th, the company held 13 stocks including CITIC shares, Bank of Ningbo, LIAN electronics, Shanghai Pudong Development Bank and Jin Zhengda, with a total book value of 25 billion 397 million yuan. According to the investment cost of 23 billion 800 million yuan, the stock float of YOUNGOR was 1 billion 597 million yuan, of which the holding value of CITIC stock was 14 billion 23 million yuan at the end of the term, compared with the initial investment cost of 17 billion 406 million yuan. Youngor Investment CITIC shares float 3 billion 384 million yuan. In addition, YOUNGOR's stock in the first half of the year was reduced and cash in the stock exchange, which resulted in a loss of 2 billion 292 million yuan.

And clothing And the investment sector income has shrunk across the entire range, benefiting from high housing prices. Youngor Real estate business achieved 6 billion 344 million yuan in the first half of the year, a slight increase of 2.29%, and a net profit of 1 billion 169 million yuan, an increase of 163.34% over the same period last year.

However, Li Rucheng, chairman of YOUNGOR, said in an interview with media reporters at the beginning of the year that he wanted to "return". clothing This may mean that YOUNGOR's clothing, investment and real estate "three pillars" of the main business will be broken. Li Rucheng said: "after the financial crisis in 2008, real estate has experienced several strict control over the country. Equity investment has been affected by the domestic and international situation. Based on the judgement of the whole economic environment, YOUNGOR decided to carry out business adjustment, return to its own strengths, and do well in the production and operation of clothing brands.