Dealers Will Start To Fall Prey To The Seven Wolves Next Year.

"It is said that dealers are hard to make this year. The seven wolves' acting days are particularly bad. They all have to pay 30% of the annual order volume and take up a lot of money because of the joining policy."

The above sources said that if we set a task of 2 million, we had to pay 600 thousand advance payments to seven wolves ahead of schedule.

A cold order will make the seven wolves fall into the embarrassment of sales.

"Seven years ago, the seven wolves gave us too much distribution task, and this year we caught up with the domestic macro-economic downturn, so now we dare not take orders more."

In the spring and summer clothing ordering meeting that just came to an end, a dealer representing the wolf wolf told the reporter that the number of participants in the order meeting was much lower than in the past, and the order volume of the dealers in the meeting was also shrunk by more than half in 2009.

The emergence of this situation will obviously affect the performance of next year's wolves.

An analyst familiar with the seven wolves told reporters that since 2006, the seven wolves have increased the intensity of the channel expansion, and made an additional issuance last year. The power of the channel has begun to show up this year. This is the main reason for the good performance, but next year's situation is hard to predict. According to the situation of the order meeting, the good scenery of the seven wolves will no longer be.

Tight financial pressure

"It is said that dealers are hard to make this year. The seven wolves' acting days are particularly bad. They all have to pay 30% of the annual order volume and take up a lot of money because of the joining policy."

The above sources said, "if our task is 2 million, we have to pay 600 thousand advance payments to seven wolves ahead of schedule.

Moreover, the general distributor is not just a shop, but now our capital is under great pressure. The seven wolves themselves are not short of money, but dealers are spending money on the channel, so now we have to reduce the quantity of orders.

As a result, the amount of cash received by the seven wolves will also be greatly reduced.

According to public information, the seven wolves pre receivable account is the most important part of the company's current liabilities. This is because the domestic sales of the company's products are mainly based on the agent system. When the agents issue orders, they pay a certain amount of advance payment to the company, and pay all the goods before delivery. The prepayment made by the agents constitutes the main content of the company's accounts receivable accounting and keeps pace with the company's revenue.

At the end of 2007, the company's pre payment figures were as high as 263 million yuan. In the middle of this year, the figure dropped to 48 million 883 thousand and 200 yuan. The explanation given by the company was that the order products were sold out in advance in the spring and summer, the sales revenue was confirmed to be reduced, and more advance receipts were collected. Moreover, in order to support the dealers, some of them were postponed in advance for the 2008 autumn and winter deposit.

When the reporter consulted a securities company's industry analyst, he said they expected that next year the seven wolves could still achieve about 20% growth.

But it is not impossible for the seven wolves to tighten their funds, because the pressure on dealers of the seven wolves is really huge, especially the backlog of funds, which is also pmitted to the seven wolves themselves.

"But the company is not bad, there's nothing wrong with the fundamentals."

Huatai Securities Zheng Guo admitted to reporters.

The first entrepreneurial report shows that although the seven wolves are not top of every single item, they have a higher overall score and have the potential to win the all-around championship.

Reporters also learned that in the first half of this year, the seven wolves could enjoy unlimited scenery and their business income reached 845 million. This figure is close to that of last year's turnover of 876 million, an increase of 151.6% over the same period last year, while net profit 85 million increased by 190% over the same period last year, which is far ahead of YOUNGOR, the good news bird, and Shanshan stock.

In 2007, the company issued 22 million 850 thousand public offerings to the two tier market, with a net investment of 585 million yuan, which was used for 20 living quarters, 200 flagship stores and 600 stores. The sales network began to upgrade.

By the end of that year, the national marketing network project had generated a total profit of 47 million 439 thousand and 100 yuan, of which 33 million 833 thousand and 300 yuan was extended to the exclusive agency store, 13 million 605 thousand and 800 yuan for flagship stores and exclusive stores.

而七匹狼并未滿足于此，還進(jìn)一步加快了銷(xiāo)售網(wǎng)絡(luò)升級(jí)的效率和步伐，據(jù)2008年半年報(bào)的數(shù)據(jù)顯示，公司擁有專賣(mài)店（廳柜）數(shù)量為2368 家，比2007 年底統(tǒng)計(jì)的1976 家增加392 家，這比起去年的一年增加519家店面的速度無(wú)疑更上一層樓。

In the three quarter, the company still predicted that the net profit would increase by 140%-170% compared with the same period last year. However, this year's order will be so cold, whether the seven wolves will continue to write brilliantly, and the industry analysts will be cautious.

Next year, fortune legend is hard to continue.

316 million, 488 million, 876 million, 3 years, turnover is almost geometric growth, and asset liability ratio is the lowest in the same industry, in the first half of 2008 only 18.35%, but next year is unknown.

In October 10th, a brokerage analyst admitted to the newspaper that next year the seven wolves had to maintain such a growth rate, which was too difficult.

In fact, he has just lowered expectations for the company's growth.

He analyzed that this year's performance of seven wolves is beautiful, mainly for several reasons: first, inventory, the early delivery of orders in the summer, so as to confirm revenue, advance the performance of the second half of the year; plus this year's climate is special, the gross profit margin is higher than the winter sales.

"From the end of the order, the situation is really not ideal, the company is now very sensitive to this."

According to a person close to seven wolves, the number of dealers participating in the order meeting has been greatly reduced, and the number of single store orders has declined. However, due to the adjustment of the product range, the order quantity has not fluctuated greatly.

In addition, the number of shops has been increasing, so turnover is still on the rise.

Reporters from its semi annual report found that the six subsidiary companies of the seven wolf company, one holding Sun company and one share holding company were two profitable, five loss, one has not yet officially opened, and the results were not good.

"In recent years, the expansion of channels has been so fast that integration and management is a big problem."

One analyst pointed out.

This puts forward higher requirements for the company's product development capabilities, supply chain response speed, control and control capabilities of retail terminals and market demand collection and analysis capabilities.

The personage commented that the seven wolves were not short of money first, and the manufacturing procurement and cost rise of upstream were not a problem. Now the average gross profit margin at more than 30 is also within the normal range.

Instead, what is worth noting is whether indigestion will be present after the huge expansion of previous years.

Problems such as affiliate distribution and other problems may affect the performance of enterprises for a period of time if concentrated explosion.

Reporters also learned that some people have sharply questioned the seven wolves' strong terminal policy, occupying large amounts of agency funds, selling indicators to the terminal, and putting in style, causing many dealers to complain, which directly affects the order amount next year.

In fact, the seven wolves have already begun to slow down: the funds raised by the last year's issuance increased to 195 million by the middle of this year, and nearly 390 million have not yet been used.

A person close to seven wolves told reporters: "because enterprises have been mainly franchised stores, they intend to invest heavily in their own stores. Now that they are too expensive, they will not be able to put money temporarily."

For the current shortage of distributors generally, the seven wolves also give some relaxation in policy.

The policy of prepayment of 30% deposit has been fine-tuning, and some long-term cooperative dealers can pay 25% deposit in advance. When the goods are collected in season, they are paid in principle and are extended to 10%-20% credit limit.