The momentum of performance recovery continued, and the transformation and adjustment continued to deepen

Soyute released the 2015 annual performance report on February 17. The report showed that the company achieved a net profit of about 200 million yuan in 2015, a year-on-year increase of 62.12%. The total operating income was 1.983 billion yuan, a year-on-year increase of 51.85%. Soyute said that in 2015, the company's terminal sales performance grew rapidly, and at the same time, it strengthened internal management and controlled related expenses, so that the increase in expenses was less than the increase in operating income, resulting in a larger increase in net profit.

According to the 2015 performance report released by Septwolves on February 2, the company achieved a total operating income of 2.46 billion yuan in 2015, a year-on-year increase of 3.02%, and achieved a slight growth for the first time since the performance declined in 2013. Net profit was still down nearly 6 percent to 270 million yuan compared with 290 million yuan a year earlier. Septwolves said that the main reason for the increase in revenue was that the company started to add a new knitting business in the second half of 2014, which contributed more operating income. However, the gross profit margin of the knitting business is relatively low, so the contribution to the total profit during the reporting period is small. At the same time, the company is still in the adjustment process of the transformation and reform of the wholesale model, and the revenue and profit of the original business are affected.

Pathfinder held an analyst meeting a few days ago. According to the disclosed meeting minutes, Pathfinder said that the outdoor industry has shifted from a stage of extensive and rapid growth in the past to a stage of continuous deepening and healthy adjustment. In the future, the domestic outdoor products industry will slowly step out of the initial stage dominated by shoes and clothing, and enter the connotative growth stage dominated by outdoor culture, market segmentation and specialization. As a listed company in the outdoor industry, Pathfinder's point of view reflects the development direction of the outdoor industry to a certain extent. In terms of performance, Pathfinder's overall revenue in 2015 was about 3.76 billion yuan, an increase of nearly 120%. Revenue from the travel service segment accounts for about 52% of the company's total revenue, and revenue from the outdoor products segment accounts for about 48%. Net profit fell slightly from the same period last year.

Judging from the performance reports of clothing companies that have been released one after another, in the context of economic slowdown, the performance sheets of many clothing companies in 2015 are not "ugly", and some even achieved growth against the trend. In 2016, the development road of apparel enterprises' transformation and adjustment, establishment of models and consolidation of advantages will continue.

Further overweight popular industries such as children's clothing

Recently, it has been reported that PEACEBIRD has established a children's clothing division, which will separate its children's clothing brand Mini Peace from PEACEBIRD men's clothing and develop its children's clothing business independently. It is said that the retail sales of Mini Peace children's clothing in 2015 reached 400 million, a year-on-year increase of 104%, and the number of stores nationwide reached 400.

It's not just the Peacebirds that have tasted the sweetness of children's clothing. Recently, it has been reported that JNBY, which will be listed in Hong Kong within this year, has also experienced rapid growth in its children's clothing business. It is said that JNBY's children's clothing jnby by JNBY has accounted for about 25% of JNBY's women's clothing in more than two years, and its profits are approaching its women's clothing. JNBY.

These news may further stimulate clothing companies to overweight the children's clothing market. The announcement of the "Comprehensive Second Child" policy in 2015 has detonated the expectations and enthusiasm of industrial capital for the baby market. The more typical second-child concept clothing stocks in the A-share capital market, such as Semir Apparel, Langzi Shares, Legg Mason Culture, and the newly-launched Gold Rabi, are increasing their investment in the children's clothing market. In addition, Smith Barney said it plans to open the stores of its two children's clothing brands Moomoo and Mihidi from more than 400 to 1,000 within two years. 361 Degrees, Li Ning, Xtep, Anta and other sports brands have already set foot in the children's clothing market. Tao brands Handu Yishe, Qigege, Chuyu, etc. have launched their own children's clothing brands. It can be expected that the children's clothing market in 2016 will be a year of war.

In the fierce competition of popular industries such as children's clothing, there is no shortage of money, no shortage of markets, and no shortage of policies. What is lacking is the real skill of operation. Today, the main consumer of children's clothing is a new generation of parents who are dominated by the young middle class, and it is not easy to please them. This requires clothing capital to abandon the short-sighted "making money" thinking, establish its own business model, and not blindly advance in pursuit of hot spots, so as to avoid the "homogenization" situation that appeared in the field of adult clothing before, and finally be abandoned by consumers. It can be expected that in the future, the children's clothing market will frequently appear in the situation of competition upgrade, model differentiation, mergers and acquisitions integration, which is the law of industrial capital. Apparel companies that overweight children's clothing should establish their own development strategies, and form their own brand positioning and development model, so as to better dig real gold in this hot market.

Seize the opportunity of capital market expansion

On February 18, Guangzhou Tianchuang Fashion Shoes Co., Ltd. was listed on the Shanghai Stock Exchange, and the daily limit was set at the opening. It has become another women's shoe company that has landed in the capital market. Some media observed from the performance of Tianchuang Fashion itself. Tianchuang Fashion's prospectus disclosed that the company's operating income in 2015 is expected to be flat with the same period of the previous year, and the net profit will drop by 10%-20% compared with the same period of the previous year. It is believed that Tianchuang Fashion's performance when it went public It has already changed its face, why can it be successfully listed?

The reason is that the wind direction of the capital market has changed, and it is at the juncture of reform. On January 29, a spokesman for the China Securities Regulatory Commission said at a regular press conference that for a long time, for the issue of the issue of the issuer's performance decline during the reporting period, the China Securities Regulatory Commission mainly focused on whether the decline in performance caused the issuer to fail to meet the issuance conditions and pay attention to performance. Whether the reasons for the decline are fully disclosed and whether the risks are fully disclosed. As long as it does not affect the conditions of the offering and is fully disclosed and fully disclosed, it will not constitute a material obstacle to the IPO.