Anta Shoes 2010 Net Profit Or Super "One Brother" Lining 600 Million

March 3rd despite

Anta sports (02020, HK) announced its annual performance report for 2010.

Data show that in 2010, Anta's turnover increased by 26.1% to 7 billion 408 million yuan, gross profit margin increased to 42.8%, and shareholders' profits increased by 24% to 1 billion 551 million yuan.

Although Lining (02331, HK) has not yet released a performance report, the company's 2010 performance forecast in January 17th indicated that "the gross profit margin and net profit margin of the group in 2010 are comparable to that in 2009". The data show that Lining's operating income in 2009 is 8 billion 380 million, and its net profit is 945 million yuan.

In contrast, though

In addition, the order volume of the third quarter of 2011, which was announced by Anta in the same period, increased by 20% over the same period last year, which is higher than that of Lining's previous "third quarter and fourth quarter order growth rate not higher than the first two quarters".

The number of stores has greatly narrowed.

Though late than Lining, the growth momentum of Anta listed on the HKEx in 2007 should not be overlooked.

According to the reporter's data, as of 2010, Lining had more than 7900 stores, and the number of Anta stores has increased to 7549 in 2010, and the gap with Lining has narrowed considerably.

The independent critic of the industry, Ma Gang, said that in terms of profitability, Anta almost ran ahead of Lining every year.

By contrast, Lining's recent performance has not been much improved since he experienced the change of bid at the beginning of last year, and the company's forecast for this year's performance is not optimistic.

Despite repeated comparisons with Lining, Anta does not recognize competition between the two sides.

Yesterday (February 23rd), Yuan Wei, manager of Anta sports and public relations, told reporters in the daily economic news that although an industry is in the same place, but because of different brand positioning, channel mode and enterprise development stage, Anta did not regard "peers" including Lining as competitors, "do well, as long as every year is better than the previous year."

But such a low profile attitude can not hide Anta's ambition.

On the day of the 2010 performance report, Ding Shizhong, chairman and CEO of Anta sports director, announced the company's "Wan Dian plan" to the media. It said that the number of stores in Anta's sports brands would have an opportunity to break through 1.

Channel competition will intensify

Anta's strong profitability has benefited from its rapid growth in the number of stores.

Data show that as of 2009, Lining had 7249 stores and 6591 Anta. By the end of 2010, the number of Anta stores increased by 958, but the number of new stores was much higher than that of Lining.

Ma Gang said that, at a deeper level, the rapid growth of the number of stores must have a solid channel as a guarantee.

The competition between Lining and Anta is only a microcosm of China's sporting goods market.

According to the reporter's data, over the past 5 years, the scale of China's sporting goods market has increased by an average annual rate of over 20%. By 2010, the number of domestic and foreign brand stores exceeded 4, and the consumption ability of the two or three level market has been fully excavated.

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Prior to this, Lining management has disclosed that the company will carry out distribution channel integration in 2011.

Ma Gang said that as a leader in sporting goods in China, Lining's move is actually releasing a signal: the Chinese sporting goods market will usher in a comprehensive integration stage, and the era of sporting goods industry's "rough growth" relying on the new shop will be terminated, but the battle for channel competition will further intensify.

In the increasingly fierce competition for local brands, Adidas and Nike have also spearheaded the two or three line market in China.

Ma Gang said, "the future two or three line market competition for the channel will become increasingly fierce, sporting goods brand will enter a" life and death "stage.