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For The Sake Of Transcendence, Pathfinder Fight The Epidemic With Practical Action.

2020/2/21 10:41:00 0

Pathfinder

Recently, in order to fight against the epidemic, many domestic enterprises have joined the production of medical supplies, and SAIC GM Wuling has been praised by netizens for its anti attack mask.

In February 19th, as a leader of outdoor sports leading brands in China (300005), it also declared that in response to the need of national response to epidemic prevention and control, combined with market demand and actual operation of the company, the company should give full play to the advantages of national high-tech enterprises and make use of its own R & D and production organization capabilities in related fields, so as to support the new type of coronavirus epidemic prevention workers with practical actions. Do. For this reason, Pathfinder has attracted much attention from the market.

Pathfinder said that in order to meet the needs of business development, the company intends to add new business scope to "organize production, sale of protective clothing, sell medical devices", and amend the relevant provisions of the articles of association. At the same time, because the production and sale of medical devices still need to complete relevant registration and registration in the food and drug administration department, the contents of the company's business scope and the final change of the permitted operation project will be based on the registration and registration of the food and drug administration department and the approval of the business registration authority.

Leader of domestic outdoor products

Founded in 1999, after ten years of development, the company became the first Chinese listed company on GEM in 2009. At present, the company takes the R & D, design, operation, management and sales of multi brand outdoor products such as TOREAD, Discovery Expedition and Toreadkids as the main body, providing consumers with outdoor products with reliable performance and fashionable appearance. The products cover the main fields of outdoor life in China.

The competition between brands in outdoor products industry depends not only on the advantages of one aspect, but on the overall efficiency of the whole industry chain. As a leader in the domestic outdoor products industry, Pathfinder has established a leading comprehensive core competitiveness in brand building, marketing management, product development, supply chain management, and professional team building.

In 2001, Pathfinder worked out the first technology standard of travel tent in China, and was identified as the industry standard.

In 2002, Pathfinder built all outdoor products range from equipment to outdoor clothing and mountaineering shoes.

In 2006, Pathfinder passed the international environmental system certification and international occupational health standard certification.

In 2008, Pathfinder became the only outdoor product company to be selected as a licensed manufacturer of Beijing Olympic Games.

In 2010, the Pathfinder co founder and spokesperson Wang Shi succeeded in reaching the Mount Qomolangma.

In 2012, Pathfinder independently developed TiEF innovative environmental protection technology for rapid development and application.

In 2013, Pathfinder became China's first "green office" certified by WWF.

In 2016, Pathfinder became the top 100 garment enterprises in the year.

In 2017, the Pathfinder co founder and mountaineering Explorer Wang Jing served as chairman and CEO of the group, and established the strategic direction of "focusing on outdoor industries and integrating and distributing resources around the main industry". At present, the company's main business lines include outdoor brand Pathfinder, Pathfinder children's clothing, outdoor brand Discovery Expedition and outdoor sports community green field network.

Reverse losses, pre profitable 2019

Earnings report revealed that in 2009, the Pathfinder of the gem entered a steady growth of net profit for 6 consecutive years, but after entering 2015, the company's performance began to decline for the first time, and the net profit of the Pathfinder in the same year fell by 10.50%. In 2016, the total revenue and net profit of the Pathfinder declined sharply, down 24.42% and 37.13% respectively.

As for the reasons for the decline in performance, the Pathfinder mentioned in the annual report that the company's business revenue and profits were presented mainly due to the overall downturn in domestic retail consumption, the increasing competition in the outdoor industry, and the influence of many factors, such as the deterioration of company inventory, the increase of user service functions, the upgrading and transformation of the travel service sector, and the provision of large asset impairment. Degree of decline.

If 2015 and 2016 are the beginning of the decline in company performance, then 2017 will be the beginning of losses since the Pathfinder went public. In the same year, the company achieved 3 billion 34 million revenue, but its net profit had lost 84 million 853 thousand and 900 yuan directly, down 252.24% compared with the same period last year. By 2018, the situation was still not improving, and the revenue was only 1 billion 992 million yuan, down 34.34% compared with the same period last year. In addition, the net profit in the same year was a loss of 182 million yuan, and net profit after the deduction was over 200 million.

As for the causes of performance losses, Pathfinder said that the main reason is that the company optimizes the structure of the travel service business based on its future development strategy, and actively adjusts and reduces the business scale of international airline tickets with lower profit margins, resulting in a substantial reduction in travel service revenue. The sharp decline in net profit is mainly due to the company's goodwill, investment and asset impairment accumulated in the year 2018 and 268 million yuan and other business losses in the main business.

However, in the 2018 year, the Pathfinder showed a continuous loss, but the company's sales scale is still in the leading position in the industry. TOREAD (Pathfinder) achieves sales income of 1 billion 177 million yuan, and Discovery Expedition brand achieves sales income of 141 million yuan. In the 2019, Pathfinder reversed the loss situation through a series of initiatives.

After entering the 2019, the Pathfinder sold the real estate, transferred the loss subsidiary's equity and other factors such as the loss of the non outdoor main industry. In January 15, 2020, the Pathfinder announced the 2019 earnings forecast. It is estimated that the net profit attributable to shareholders of Listed Companies in 2019 will be 111 million yuan to 116 million yuan.

Pathfinder said that in 2019, the company actively responded to the adverse factors such as economic downturn, low consumption and fierce market competition, focusing on resources to consolidate the steady development of the main industry of outdoor products, actively optimizing the business structure, strengthening post investment management, and gradually withdrawing from the low profit travel service business and related investment projects, and improving the quality of business operations, compared with the same period last year. The risk of related investment and asset impairment of the company has been greatly reduced.

At the same time, in the 2019 year, the Pathfinder continued to enhance the competitiveness of the main products of outdoor products, enhance the dissemination of brand culture and brand spirit to users, optimize the online and offline sales channel structure, and actively enhance the efficiency of operation and management, and the overall expenditure was reduced compared with the same period last year.

Some people say that the Pathfinder has gone back to the outdoor products industry after some twists and turns. Although the cost of this attempt is relatively large, the outdoor industry market in our country is broad, and the Pathfinder should continue to make efforts in the main industry of outdoor products, focusing on channels, products and marketing, and occupy more market share.

Source: Lan Fu Finance

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