M & A Achievements Channel?

Recently, there was news that

After the news, BELLE reiterated its buying rating, and Goldman Sachs said that the acquisition would help BELLE enhance its scale efficiency and enhance its bargaining power.

One of the big business logic is acquisition.

These two years are the window period for Chinese enterprises to concentrate on listing. The listed companies are basically the top three in the industry or subdivision industry.

The industry will be integrated through acquisitions and mergers in the next few years.

Walden International Su Renhong

Adidas and Nike are already in the hands of BELLE in the near 70%~80% retail channel. BELLE almost monopolizes the retail channel of the two major sports brands. Maybe next time we will talk about China's agent with Adidas.

The next domestic sports tycoon is probably not BELLE.

Retail brand commentator Lin Yifan

From the valuation point of view, sports distributors should not enjoy the valuation of shoes.

First, total assets are heavier and stocks are easier to depreciate.

Second, the risk of rising costs is even higher.

But BELLE's shoes are so rare in the world, so it is necessary to take this kind of M & A from the perspective of total profit growth, though it is not necessarily a good thing to improve from the perspective of PE.

- easy investment partner Chen Chen

The value of BELLE should be calculated separately from the parts of the shoes and sportswear. The increase in the proportion of sportswear may lower the total PE, but the total value of the company will increase.

Moreover, after taking the lead, it has a positive effect from a market perspective.

Uncertainty is the ability of BELLE to integrate and explore synergies.

Shanghai financial circles Ricky

If BELLE is profitable, it is true, but its sports part can only be said to be continuously pfused.

The real source of BELLE's profits is in leather shoes (apart from proxy brands).

Sporting goods are resources for big stock markets.

If you want to really profit from sporting goods, or to join hands with Baosheng, forcing N&A to reduce its supply cost, it is the solution.