BELLE's Second-Line Brand Revenue Increased By 10 Times.

The external market is stable, while Hong Kong stocks saw a 26387 full day high in the morning market on Monday. The trend was soft again, with a full day volatility of less than 300 points. The Hang Seng Index closed at 26184, fell 57 points, and traded at 74 billion 30 million yuan. Last Friday, when the Hang Seng Index rose to 0.5 times the gold rate of the rally, 26265 days later, it continued to hold a high position in the last two days, while the national index was subject to the top 14913 of the protection plus access channel. The expected market conditions continued to be consolidated at the current level. Daling (0211) small shareholders interest group held a meeting again last afternoon, requiring the stock exchange to discuss the resumption of big Ling as soon as possible, attended by more than 200 shareholders and the public, and later the group went to the stock exchange petitioning for appeals. The concern group of big shareholders and small shareholders has publicly appeals in June last year. It has been almost a year since the incident. The 4 year long suspension incident was still inactive. Until last week, the Stock Exchange issued a response, explaining that "a director violates the listing rules, and also involves disclosing the disclosure to the public." Xiao Yankun, chairman of the interest concern group, accused the stock exchange of the above reaction only to "sophistry" and to cover up the handling of misconduct. Daling small shareholders resumed their demands for a resumption of appeals, saying that Daling had been suspended for 04 years since its suspension in April of the year of 4. During this period, Da Ling had applied for 11 cards, but the stock exchange had not been suspended for 4 years on the basis of the suspension and cancellation procedures. Neither the public nor the public had decided to suspend business. The big lingering incident has been damaging for many years, which has damaged the image of Hongkong's international financial center, and should not be overdone. BELLE second line brand income increased 10 times the Beijing Olympic Games have entered the last hundred days, the Olympic atmosphere has become more and more high, the Olympic concept shares have been hyped, after the start of Tsingtao Brewery (00168), BeiJing Capital Airport (00694), is gradually stretching to sports goods stocks, BELLE International (01880) reproduced strong, on Monday rose more than 5%. The total revenue of the footwear business increased by 33%, and the sports apparel business which was purchased only in the second half of 06 years, which was driven by the whole year in 07. The net profit of BELLE last year was 1 billion 979 million yuan, an annual increase of 1.03 times. The turnover was 11 billion 670 million yuan, an annual increase of 87%. Excluding other financing revenue and expenditure, the group's operating profit increased by 71%. The group's old business footwear business continued to account for 90% of the total revenue, of which the private brand grew by 32% annually, accounting for 92% of the footwear business income. In addition, the distribution brand revenue increased by nearly 61%, accounting for 4.5% of the footwear industry income from 06/07 4.5% to 5.5%, and driving the growth of footwear business income. In addition, group OEM ratio continued to decline from 3.3% in 06/07 to 2.9%. The gross profit of the sportswear retail business of the group is relatively low, but the income of the business has increased by 96% over the past year, of which the income from the first-line brand has increased by nearly 73% annually, while the income from second-line brand has increased by more than 10 times year by year. Management expects that with the continuous increase in the proportion of second-line brand outlets and revenue, it can drive the group's sales growth of sporting goods in the same store at 20% level, and grow faster than similar data in the same industry. At the same time, it can also drive the company's overall revenue and earnings growth to keep pace with the industry. Considering the sale of its footwear and sporting goods stores, the group has 6000 branches, including 61% of footwear retail stores, and 1000 more stores in the future. It is estimated that the capital expenditure of extended outlets will be about 1 billion 400 million yuan in the next two to two years. BELLE has announced a number of acquisitions since last year. The projects of MII Li, Jiangsu, Santa Fe and Mei Po will be paid for this year if they are implemented on schedule, at least 4 billion yuan. BELLE increased 2280 retail outlets last year, including M & A projects. Its number of outlets has reached 6800. In addition to expanding the brand portfolio and reducing operational risks, it also paved the way for the expansion of men's shoes and casual shoes, and further captured the middle and high-end footwear market (average selling price of $200). Investors can enter the market below 8.50 yuan, with a target price of 10.30 yuan and a 7 yuan reduction.