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Transfer Of Clothing Inventory And Trademark Rights For Caesar Culture To Revitalize Assets

2020/9/16 14:15:00 0

Caesar CultureClothing IndustryWomen'S Wear

Kaiser (China) culture Co., Ltd. (hereinafter referred to as "Caesar culture") announced on September 15 that in order to further revitalize the company's assets and optimize the asset structure, the company intends to transfer the brand clothing inventory of Caesar culture and the corresponding matching trademark and other assets to Shantou Jihai Clothing Co., Ltd.

According to the announcement, the assets transferred by Caesar culture are clothing inventory and corresponding matching trademark rights. Among them, clothing inventory goods are mainly men's wear, women's clothing, leather goods, etc., which are mainly purchased and produced by the company from 2007 to 2016. The old style and repeated sales are still unsalable, and some leather goods are oxidized to varying degrees There are 95 trademarks in the company's name, including 41 registered trademarks under category 18 of International Classification and 54 trademarks under category 25 of international classification. Both parties finally confirmed that the total transfer price (including tax) was RMB 23.8 million.

Kaiser Culture said that the transfer of inventory and trademark rights is mainly to revitalize assets, accelerate capital flow, reduce storage and storage costs, reduce costs and expenses, and realize the full divestiture of clothing business. The transaction is expected to affect the company's net profit of - 916100 yuan in 2020.

Liu Jiawei, an analyst at Northeast Securities, said that the essence of clothing enterprises is "fresh industry, fashion is easy to die, and out of season products are difficult to be favored by consumers again. In the face of inventory, enterprises usually use ole channel and large promotion activities to carry out discount sales, which will affect the profitability of enterprises in the short term, while the long-term backlog of inventory products will face the risk of impairment.

According to observation, in the first half of 2020, the inventory value of key companies in A-share brand clothing plate slightly decreased compared with the same period last year, and decreased by 5% compared with the same period at the beginning of the year. Although the terminal sales were poor due to the epidemic in the first half of the year, the brand companies adjusted the supply of goods in time and promoted the strategic layout to reduce the sales pressure, so the overall inventory situation was controllable. In the second quarter, as terminal consumption recovered, inventory further improved. The inventory turnover days in 2020h1 were 275 days, 46 days higher than the same period last year, mainly due to poor terminal sales. We judge that the overall inventory structure is good and the inventory pressure is controllable.

Combined with the current consumer market environment, Liu Jiawei said frankly that China's social consumption growth trend is obvious, and brand companies are expected to speed up the layout of new stores in the second half of the year, and the pent up consumer sentiment in the early stage is gradually released. Therefore, it is expected that the textile and clothing consumption trend in the second half of the year will be further improved.

According to the public information, Kaiser culture started with clothing business in 1994. In 2014, it entered the field of Internet culture by acquiring mobile game developer kuniu interactive. In 2015, it successively acquired mobile game developer tianyoujia and copyright operation company magic technology. By the first half of 2018, the game business revenue had increased to 74%, and the game business with high gross profit rate promoted the overall gross profit of the company The rate increased from 38.36% in 14 years to 66.6% in 2017, and continued to grow at a high level after the expiration of performance bets.

According to the financial report, in the first half of 2020, Kaiser culture realized a business income of 305 million yuan, a year-on-year decrease of 29.39%, the net profit attributable to the parent company was 117 million yuan, a year-on-year decrease of 34.84%, and the net profit of the parent company after deducting non-profit was 111 million yuan, a year-on-year decrease of 37.29%. The decline in performance was mainly due to the impact of the epidemic and the sharp decline in overseas copyright licensing revenue. In terms of splitting, the operating revenue in the second quarter was 128 million yuan, with a year-on-year decrease of 25.78% and a month on month decrease of 27.53%; the net profit attributable to the parent company was 35.8554 million yuan, with a year-on-year decrease of 43.39% and a month on month decrease of 56.07%; after deducting non-profit, the net profit attributable to the parent company was 32.9133 million yuan, with a year-on-year decrease of 47.52% and a month on month decrease of 57.69%.

In terms of business, Caesar's main business includes cultural entertainment business and clothing sales. Cultural and entertainment business refers to the pan entertainment business with IP as the core, including copyright operation, online game R & D and operation. The company's main profits come from online game business and IP operation, and the game types are mainly mobile online games, including:

1. Game share: in the first half of the year, the company achieved a revenue of 294 million yuan, with a year-on-year growth of 8.87%, accounting for 96.17% of the revenue. The mature game products of Caesar culture, such as the chronicles of the Three Kingdoms and the star arrow of the saint: rebirth, continuously contribute to the company's stable income through refined operation.

In terms of new games, the "Three Kingdoms" developed by Kaiser culture began to be launched in Hong Kong, Macao and Taiwan in China in the first half of this year. Among them, Taiwan region (game name "the revival of the new Three Kingdoms Han Dynasty") successfully topped the No.1 list of free IOS games and won excellent results such as IOS recommendation and No.2 best-selling list in Hong Kong, contributing incremental revenue to the company's performance in the first half of the year.

2. Copyright operation: in the first half of the year, the revenue was RMB 04 million, a year-on-year decrease of 97.62%, accounting for 1.16% of the revenue. The reason for the sharp decline in copyright operation income is mainly due to the decrease of overseas copyright authorization income due to the impact of the epidemic.

3. Finished clothing: in the first half of the year, the operating revenue was 03 million yuan, a year-on-year decrease of 55.42%, accounting for 0.84% of the revenue.

The reporter noted that the clothing business is the main business of Caesar culture since its establishment. Due to the long-term existence of many adverse factors such as high inventory, high cost and low consumption in the clothing industry, Caesar culture has decided to accelerate the reduction of clothing business product lines and offline stores since 2014, continue to abolish clothing design, sales, related human costs, etc., and firmly implement the business We should focus on the development of Pan entertainment industry. The financial report also shows that in 2017, the proportion of clothing business revenue decreased to 11.1%, the game business replaced as the main profit source of Caesar culture, and the pan entertainment industry chain initially took shape.

On June 12, this year, Kaiser culture announced that it had signed a strategic cooperation agreement with Beijing Chaoxi guangnian Information Technology Co., Ltd., a subsidiary of bytecomb. Both sides will give full play to their respective advantages, integrate resources and implement comprehensive strategic cooperation in game distribution, channel, operation, IP, derivatives, market, advertising, capital, etc. Analysts believe that the signing of the agreement means that Caesar culture will become an important customized R & D provider and long-term product supplier of byte skipping game products. Caesar culture can use the channel and platform advantages of byte skipping to improve the game distribution capacity. At the same time, both sides have strong strength in game research and development, and are expected to launch excellent game products.

According to the announcement, from 2019, Caesar culture has carried out in-depth cooperation with the head platform: Once upon a time, there was a Lingjian mountain, the tomb keeper of silver: duel, the glory of the new Three Kingdoms, and Hunter X Hunter, which have obtained the exclusive agency of Tencent, Naruto has obtained the exclusive agent of byte jump, and king of navigation is also conducting exclusive business negotiations with large platforms, The above products are expected to be launched in 2020-2021. Earlier, in 2017, Caesar culture cooperated with 360 in-depth on the SLG game of "Three Kingdoms 2017" and made great achievements.

Wen Hao, an analyst at Tianfeng securities, believes that Caesar culture will cooperate with other large platforms such as IP boutique games, byte skipping, Tencent, express, etc., and a large number of high-quality games are expected to be launched in the next 2-3 years, which is expected to continue to increase the company's performance. It is expected that the online time of "the Three Kingdoms with version number" is expected to bring new performance increment for Kaiser culture in 2020-2021.


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