The Development Of Bosideng 2012, China'S Largest Down Garment Enterprise

Bosideng stock trend

With ample cash and high interest policy for many years, dividend payout rate of the end of March 2011 and special dividends reached 117.5%.

Although there was no special dividend in the end of March 2012, the dividend payout rate was reduced to 74.4%, but the cash in hand was 1 billion 910 million yuan (RMB), making capital preparations for future acquisitions.

In addition, during the year, the group increased the Hong Kong dollar loan to invest in mainland financial products to earn interest rates in China and Hong Kong.

Last year, the Group actively adjusted its product mix and sold smaller ones.

The business of "ROCAWEAR" will be completed and the men's clothing and women's clothing business will be expanded with more resources.

The Group actively develops a four brand strategy. As of the end of March 2012, the operating profit of non down garments increased by 82.4% to 314 million yuan, of which the high-end women's clothing brand JESSIE, which was acquired last year, contributed 41 million 562 thousand yuan in profit.

During the period, the income of non down business increased by 1.3 times to 1 billion 347 million yuan, the proportion of income increased to 16.1%, and the income of down jacket decreased to 73.1%.

The four main brands of down business are 34.5% in the mainland, and the popularity of the brand has a high bargaining power for the past two years.

The increase is 18% and 12% respectively.

The group's cost control ability is relatively high, and gross profit margin has been improved by 3.1 percentage points to 50% during the period.

Many fashion brands have set up flagship stores overseas, and Ji can enhance their reputation overseas, but it is always difficult to operate.

In 2010, the flagship store was opened in the United States, but it was not good enough to close in February this year.

Bosideng first set up flagship stores overseas this year.

South Morton Street (South Molton Street), near the crowded Oxford street, is believed to help sales.

After 5 years, the overseas stores can contribute about 5% of the group's total revenue, but the actual effect remains to be seen.

On the trend, the stock price dropped to 2.1 yuan (HK $, the same below) in September 27th, and gradually recovered 10 days and 20 antennas. The STC% K line continued to move higher than the%D line, and the MACD cattle gap widening. It could consider 2.2 yuan to absorb, the resistance level was 2.4 yuan, and did not fall through 2.15 yuan to continue to hold.