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In The First Three Quarters, At Least 3 Hundred Million Of The Net Profit Was 700 Million, And 700 Million More Than 3 Years.

2019/10/9 17:40:00 0

Be MelevenThe First Three Quarters

Entering the October, the three quarterly performance of listed companies has come to intensive disclosure. The first Chinese Golf dress -- Limited by Share Ltd (hereinafter referred to as "Bi") has issued the performance forecast for the first three quarters of 2019. It is estimated that the net profit of the company will be 303 million yuan to 312 million yuan in 2019, compared with 206 million yuan in the same period last year, an increase of 47.28% to 51.33% over the same period last year.


The company's industry changes during the reporting period are mainly based on the following reasons: the company has continuously increased its R & D investment, and its product competitiveness has been continuously improved. At the same time, it has increased brand promotion, optimized marketing network construction and supply chain management, strengthened staff training, and continuously launched the employee stock ownership plan incentive plan to enhance the cohesion of the team so as to maintain sustained sales growth.


According to the insiders, the company has a good track record, a distinctive product style, a sports business style, and a differentiated competitive advantage. At the same time, the new brand has been developed and will continue to contribute in the future. In addition, the company still has room to shop. With the continuous contribution of the new brand and new channel, the company is expected to maintain sustained and rapid growth.


According to public information, the company is mainly engaged in R & D, brand promotion, marketing network construction and supply chain management of its own brand than BIEM.L.FDLKK, and is committed to becoming the "leading brand of Chinese golf apparel". Founded in 2003, the company landed on the A share market in December 2016. According to the results, in 2018, the total revenue of the company was 1 billion 476 million yuan, an increase of 39.96% over the same period last year, and the net profit attributable to the owners of the parent company was 292 million 300 thousand yuan, an increase of 62.16% over the same period last year. Among them, "coat" and "coat" are still the main sources of income of the company. Specifically, the "jacket" business income is 610 million yuan, accounting for 41.6% of revenue. "Jacket" business income of 470 million yuan, accounting for 32% of revenue. "Downloading" business income of 290 million yuan, accounting for 19.8% of revenue.


It is noteworthy that the "coat" contributes most to the profits of the enterprise. The report showed that the overall gross profit margin of the company was 63.3%, down 2.1% from the same period last year. Among them, the gross profit contribution of "coat", "coat" and "lower garment" were 41.7%, 31.6% and 20.4% respectively, and the gross profit rates of "coat", "coat" and "lower garment" were 63.3%, 62.4% and 65.1% respectively.


In the first half of 2019, compared with the same period last year, the company's operating income reached 845 million yuan, a 25.15% increase over the same period last year. The net profit attributable to shareholders of listed companies was 173 million yuan, an increase of 42.01% over the same period last year. As of June 30, 2019, the marketing network of bairvin covered the core business circles, high-end department stores, airports and well-known golf clubs in 31 provinces, autonomous regions and municipalities directly under the central government, and the company had 798 terminal sales outlets, with a net growth of 34 over the end of 2018, including 385 stores and 413 stores.


Mr Bi said that the company is actively building a full channel service platform, introducing an independent R & D production management system, a mobile business intelligence BI system, a distribution management system, a financial management system, an engineering office system, and online channels. Through the whole channel platform project, a resource sharing platform is established to achieve the unified management of the internal core resources, providing backstage support for the new needs and new models emerging in the rapid development of enterprises, forming a complete accounting system, ensuring the real-time sharing of commodity information and merchandise inventory information, improving the efficiency of logistics path selection, realizing the data operation, efficiency and intellectualization of the company operation, and laying a solid foundation for the Future Ltd to create a globally competitive apparel industry chain.


Mi Hanjie, an analyst with GF Securities, believes that the performance of the company in the next three years is expected to continue to maintain high growth. In particular, the fourth quarter is the traditional peak season for clothing, and the company's performance is expected to accelerate further. Secondly, the main brand has a large store space, and the market capacity is expected to reach 1500 to 2000. Third, the average single store efficiency is expected to maintain double-digit growth, the sports apparel industry is expected to continue to boom, 2020 Tokyo Olympic Games, 2022 Beijing Winter Olympic Games, and the company's product category continues to enrich, channels continue to optimize, through the strengthening of information technology, operation capability continues to improve. Fourth, the company is fully motivated and has launched two phases of employee stock ownership plans. Fifth, the state issued a document to stimulate the potential of tourism consumption. The new brand of Venice, focusing on holiday tourism and clothing market, is expected to become a new profit growth point. Finally, the company keeps a reasonable level of inventory, and accounts for more than two years of storage age.


The market participants also said that in the field of special training in the field of deep golf, the "professional sports + fashion leisure + holiday tourism" product matrix should be built to accurately grasp the upgrading trend of higher income consumer demand, and with continuous investment to create an abortion quality and membership service capability, it is expected to continuously enhance customer consumption stickiness, and it is expected that the future consumption space and potential will continue to grow.


The further expansion of the company has also issued a Switching Company bond plan in the near future. According to the plan, the company will raise 689 million yuan to invest in the following projects:


1, marketing network construction and upgrading projects. The total investment of the project is 356 million 551 thousand yuan, and we intend to raise 320 million yuan. On the one hand, it will redecorate the 200 stores in the first and second tier cities of the city of bresling brand, and upgrade the image and intelligence level of the store to optimize the offline key channels. On the other hand, the company will launch the marketing network of the brand in Venice (Carnival Carnival) throughout the country, and plan to lay 150 stores within 3 years to expand the coverage of the marketing network of the new brand of holiday tourism clothing.


2, supply chain Park Project


In order to enhance the logistics supply chain capability and warehouse operation efficiency, the company is planning to build a new supply chain Park in the SLG15-01 plot (10791 square meters) of the mountain area industrial park in Panyu District, Guangzhou. It includes the construction of three dimensional storage area, sorting and distribution center, comprehensive office building, dormitories, canteens and roads, greening and other public works in the area. The total investment of the project is 149 million 607 thousand and 200 yuan, and 140 million yuan will be used to raise funds.


3. R & D center project.


The design and development center of the company's new office building will be built by Bi Bren. It will serve as a R & D office base for the new brand of brin and the future. The total investment of the project is 45 million 273 thousand and 200 yuan, and it will use 40 million yuan to raise funds.


Mr Bi said that the use of the convertible bonds to raise funds would be closely related to the company's main business and closely related to the company's development strategy and its existing main business. And through the successful implementation of the project, the company's profitability and business performance will be improved.
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