Expensive Birds In The First Half Of The Year Again Loss Of Pan Sports Layout Failure

The "noble birds" who want to soar in A shares have lost money in the first half of this year.

On the evening of August 26th, you released the mid 2019 performance report. During the reporting period, the business income of noble birds reached 810 million yuan, down 47.27% compared to the same period last year. Net profit -5837.07 million yuan, a sharp decrease of 269.59% over the same period last year.

In 2014, the A bird landed successfully. However, in recent years, it has changed its highly diversified strategy in the past. Selling assets, withdrawing funds and even frozen shares has become the key word.

For the first half of the year's performance and annual performance expectations and other issues, the "international finance daily" reporter interviewed in August 27th afternoon, "the bird of honor", only replied that "everything is based on the announcement".

　　 Layoffs and closing stores

The main business of the company is the design, development, production and sale of sports shoes and clothing. It has such brands as "noble bird", "AND1" and "PRINCE". Among them, the brand new brand introduced by AND1 and PRINCE is introduced. In addition, you also have a holding subsidiary shoes store, which is mainly engaged in the operation, sales and distribution of the famous brand sports products of the international and domestic front-line brands. Currently, the sports brand of the agency sales includes Nike, ADI, Andrea, CONVERSE and so on.

At present, the field of local sports brand is in the second period of development after the return of the trough. For the birds, the external environment is not bad.

According to the financial report, in 2018, the company achieved 2 billion 812 million yuan of business income, a decrease of 13.52% compared to the same period last year, and a net profit of -6.86 billion for shareholders belonging to the listed company, a decrease of 536.01% compared with the same period last year.

This is the first full year loss after listing. At that time, the precious birds pointed out that the performance loss was mainly due to the intensification of external competition, the repurchase of products from some distributors and the adjustment of the sales mode of the core bird brand business.

Entering the 2019, the noble bird still failed to get out of the predicament of loss.

"In the first half of 2019, the company still experienced many challenges, and the impact of the market macro environment continued to extend." In the semi annual report, the birds show this way.

According to the "bird of honor", during the reporting period, the company still can not find new financing channels for the capital market. Some financial institutions continue to lend money, loan or increase credit conditions to the company, and the land and housing assets held by the company are mortgaged. Because of the impact of capital market environment, the disposal of other non core assets is difficult. At the same time that we can not get financing, the negative impact of the centralized payment of the company's previous debts and the pressure from the financial institutions on the capital occupation of the main industry gradually appear.

You also said that the tight liquidity caused a series of business strategy implementation slowdown in the main business, coupled with the slow growth of the industry and increased competition, and increased the terminal sales pressure of the brand. At the same time, the downstream dealers resent the money slowly, making the company's allowance for bad debts increase. Last year, it launched the sale of the "noble bird brand" direct shop, absorbed some of the original distributors in the direct camp area, and implemented the new franchisee support policy, resulting in higher costs, resulting in the company's current performance decline.

"International finance daily" reporter noted that in order to solve the company's current business problems, the birds have taken various measures. It is said that the company has initially reduced the size of its employees, strictly controlled labor costs, and continued to shut down shops with no vitality or loss. During the reporting period, there were 188 closed terminals.

However, the company said that in the second half of 2019, it will continue to focus on industry, focusing on the main business development, and consolidating its operational capability in the traditional sports footwear industry. At the same time, we should continue to dispose of non core assets, promote capital operation, and actively introduce financial or strategic investors. In addition, it also points out that it will ensure that liquidity difficulties are overcome and the company can return to a healthy track of development.

Pan sports layout failure

Once upon a time, noble birds were also star enterprises in the capital market.

In the year of the year of listing, the great bird suggested that it should become a sports industrialization group based on the manufacturing of sporting goods and clothing and coordinate the development of various sports industries. In 2016 alone, the precious birds announced that they would invest 383 million yuan to share some of the equity interest in the development of the sports industry of Hubei Jay, and to increase their capital and invest 100 million yuan to increase the capital of Shenzhen Xingyou Technology Co., Ltd. and to jointly set up insurance companies.

But for now, the long march expansion is not successful. The key Road Sports Consulting Co., Ltd., founder of Zhang Qingxiang, "International Financial Daily" reporter said that after landing the capital market, you chose to carry out a diversified extension of the main business, which put forward higher requirements for the company's integration and operation capability. "Did you make a question mark for the time being, but the response from the capital market should be worse than expected."

Since last year, the precious birds have begun to deal with assets. At the beginning of August last year, the bird announced that it would transfer the 37% stake of Kangpai sports and the 37% stake of Kangpai consulting to the Jinjiang National Sports City Limited by Share Ltd, with a total transfer amount of 143 million yuan. In the same month, it changed its 273 million yuan to Hu Po sports, which has attracted much attention from other countries.

Cheng Weixiong, general manager of Shanghai Liang Qi Brand Management Co., Ltd., said that the pan sports capital operation after the listing of the great bird has placed the enterprise at a dangerous border. In the context of the initial adjustment of the national financial order, selling assets has become an inevitable choice.

At present, there is no doubt that expensive birds are heavily under pressure. The international finance daily noted that due to changes in economic policies and market environment, the original Chinese central bank, short fuse and offshore bond financing schemes could not be implemented. Since 2018, the scale of financing has been greatly reduced.

It is said that as of the end of June this year, there are two phases of the "noble bird" that will expire in the second half of the year. In order to repay debts, the company plans to raise funds by combining its own cash, continuing disposal of non core assets, promoting capital operation and exploring new financing channels.

In the course of diversification, the belief that you return to your main business is more and more firm. At the end of last year, the bird announced the "drastic" transformation plan, announced the purchase of 146 million yuan to sell the sales channel of the brand dealer.

Hung ho Chun, a famous man and director, admitted to reporters that his future development strategy is to return to the main business. "In the future, it will also seek cooperation between high-quality resources and strategic investors, and be stronger and bigger in the areas where companies are good at it. We will do a solid job step by step to turn the business down. "