The Outdoor Industry Is Booming And Production And Operation Are Running Smoothly.

In recent years, China's outdoor industry has been thriving and thriving.

In 2000, the total retail sales of China's outdoor industry amounted to 60 million yuan. By 2011, the total retail sales of China's outdoor industry reached 11 billion yuan, and the compound growth rate reached 61% from 2000.

Pathfinder: channel development and high performance growth

The Beijing Toread Outdoor Products Co reported that from January 2012 to June, the company continued to strengthen its channel construction, strengthen terminal management, and develop its main business well, operating income of 379 million 940 thousand yuan, an increase of 52.38% over the same period last year, operating profit of 84 million 220 thousand yuan, an increase of 63.67% over the same period last year, and a net profit of 59 million 230 thousand yuan, an increase of 36.06% over the same period last year, and continues to maintain a relatively fast growth rate.

However, due to the rapid progress of the channel expansion, the corresponding opening shop costs more; brand promotion activities started in the two quarter, and the related costs also increased; at the same time, with the continuous expansion of the company's sales scale, warehousing, logistics, pportation costs and personnel salaries directly related to the sales business have increased substantially, resulting in a year-on-year growth in total profit of the company, which has been reduced compared with the first quarter.

The certificate of the high and new technology enterprise has expired in July 23, 2012, and the relevant reexamination application report has been submitted, but whether there is greater uncertainty in the reexamination can be passed.

According to the relevant provisions of the State Administration of Taxation, the company can pay the enterprise income tax at the rate of 15% in the first half of the year. However, since the certificate of the existing high-tech enterprise has been invalid on the date of disclosure of the report, and the relevant review is not yet finished, according to the proposal of the annual auditor, the company recalculated the income tax expense at the rate of 25% in the first half of the year, making the growth rate of net profit in the first half of the year much lower than that of the total profit.

In the first half of 2012, the Beijing Toread Outdoor Products Co implemented the established development strategy and annual business plan, focused on brand positioning, increased investment in brand promotion, built TiEF's own R & D, innovation and environmental protection function of scientific and technological fabrics, continued to consolidate marketing operation management, improved incentive and restraint mechanisms, successfully launched the second phase of equity incentive plan, and further enhanced the overall competitiveness of enterprises.

At the same time, the company integrates resources in a joint venture mode and gradually opens up the strategic layout of multi brand operation. By the end of the reporting period, the brand of the Pathfinder is the core business at this stage, and the multi brand business system with the new outdoor leisure brand and the new outdoor brand of e-commerce as the current stage of strategic business has taken shape.

Bohai securities analysis pointed out that the reason why the profit growth rate of Toread Outdoor Products Co in Beijing was lower than that of the revenue growth was mainly due to the higher cost of new shops and brand promotion, and the expiration of the certificate of the new and high technology enterprises, and the uncertainty of the retrial application. Therefore, the income tax was raised in the first half of the year at a rate of 25%.

If the review is passed, net profit will increase by 9 million 950 thousand yuan.

The speed of physical channels is not decreasing, and e-commerce is developing rapidly.

In the first half of 2012, the company opened 185 new stores, with a total number of 1226, including 180 outlets and 1046 franchisees.

Sub industry companies open shop situation.

Cooperate with Discovery Expedition brand to develop high-end market and set up new brand. It is expected to start in 2013.

The brand new product of electric brand was sold on the two quarter of 2012.

In the first half of 2012, the electricity supplier income was 23 million 300 thousand yuan, doubling compared with the same period last year. In 2013, the order of electricity and electricity in spring and summer will be about 70 million yuan, and revenue next year will probably double.

Wan Lian securities analysis pointed out that Beijing Toread Outdoor Products Co's main business revenue continued to maintain rapid growth: in the first half of the year, the main business revenue of the company reached 377 million yuan, an increase of 51.34% over the same period last year.

From a series of products, the largest outdoor clothing sales revenue increased by 56.6% compared with the same period last year, and the proportion of income increased to 65.04%.

Products and outdoor equipment increased by 41.76% and 43.37% respectively.

From the regional perspective, the main business in North China grew by 55.2% over the same period last year, and the development of other regions was good. The e-commerce market realized 23 million 300 thousand yuan in revenue, a significant increase of 103.85% over the same period last year.

The gross profit margin of the Pathfinder increased slightly, and the sales cost increased: in the first half of the year, the consolidated gross profit margin of the company was 50.8%, up 0.95 percentage points from the same period last year, of which the gross profit rate of outdoor clothing increased by 3.39 percentage points, and the outdoor footwear was basically the same as last year, and the gross profit margin of the outdoor equipment decreased by 7.27 percentage points as a result of the adjustment of the pricing strategy of the product.

From the point of view of the cost rate, the sales cost rate increased by 1.88 percentage points to 18.81% compared with that of the previous year, and the management fee rate was 11.5%, down 1.21 percentage points, and the financial cost rate increased 0.34 percentage points to -0.49%.

At the end of 6, the accumulated amount of stock was 140 million yuan, accounting for 18% of total assets, and the inventory turnover rate was 1.18, down 0.05 from the same period last year.

In the future, the strategy of Beijing Toread Outdoor Products Co is multi brand operation and expansion of second tier market channels: at present, the company builds three major brands, namely, professional outdoor sports market, outdoor leisure products market and e-commerce outdoor products market according to market segmentation and consumer demand, and the multi brand system is gradually formed.

The main brand Pathfinder will focus on the development of the professional outdoor sports market; the DiscoveryExpedition brand outdoor leisure products market will focus on developing high-end products with the theme of innovation, exploration, city and fun. It is expected that by the end of 2012, Beijing Toread Outdoor Products Co will sign a formal joint venture agreement. E-commerce brand arkeno focuses on the 22-28 year old online shopping consumer group. At present, the operation management team has been completed in the first half of the year, and the product has started selling online in the two quarter of this year.

In terms of channels, the company will continue to expand the expansion of physical stores. In 2012, there will be no fewer than 400 new outlets, especially in the second tier cities.

China's outdoor products industry benefited from the policy support of consumer upgrading and tourism, sports and other related industries. Now it is in a period of rapid growth, and the market space is broad.

As a leader in outdoor products, Beijing Toread Outdoor Products Co will be able to grow in the future.

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Jialin Jie: production and business activities carried out smoothly.

Shanghai Jia Linjie

The Limited by Share Ltd issued a semi annual report, pointing out that during the reporting period, due to the macroeconomic factors and the global textile demand, the shipment and delivery of orders in the first half of the year failed to meet the expected growth targets, which brought great pressure to the production and operation of the company.

However, under the leadership of the board of directors, the management of the company continues to work hard to further improve the company's internal management system, tap the existing market demand potential, consolidate and expand the international market, steadily invest in the construction of its own outdoor sports brand, and develop the superior technology and technology advantages of the high-grade fabric, so as to ensure the smooth operation of the company's production and business activities.

In the first half of 2012, the company achieved a total revenue of 416413996.92 yuan, down 1.84% from the same period last year, and the net profit attributable to shareholders of listed companies was 20887482.52 yuan, down 38.99% from the same period last year.

At the end of the reporting period, Shanghai Jialin Jie sporting goods Co., Ltd. total assets of 44 million 647 thousand and 700 yuan, net assets of 29 million 772 thousand yuan.

The current operating income is 7 million 717 thousand and 400 yuan, the operating cost is 6 million 749 thousand and 600 yuan, and the net profit for the current period is -835.62 million yuan.

The total operating revenue and operating costs of the company were 416 million 414 thousand yuan and 326 million 493 thousand and 200 yuan respectively, representing a decrease of 1.84% and 0.29% compared with the same period last year. The main reason is that the international textile market is affected by the European debt crisis and the global economic downturn, the demand is sluggish, and the delay in the delivery of customer orders and products has affected the expected growth of the company's sales during the reporting period.

The operating income and operating costs of the company's fabric products were 137 million 903 thousand and 300 yuan and 110 million 50 thousand and 500 yuan respectively, representing an increase of 18.83% and 19.83% respectively over the same period last year. The main reason is that the company continues to work hard in the research and development of functional fabric technology, and the new products developed are widely favored by many customers at home and abroad, and the order of these new fabric products grows.

Business income and operating costs have increased to a certain extent compared with the same period last year.

In addition, the operating income and operating costs of the apparel products were 278 million 510 thousand and 700 yuan and 216 million 442 thousand and 600 yuan respectively, which were 9.62% and 8.13% lower than the same period last year, mainly due to the fact that the sales of garment sales did not grow and the products were postponed, which affected the expected growth of sales.

In the reporting period, the gross gross interest rate of the company's gross gross interest rate dropped by 1.22%, and the gross interest rate of all kinds of products declined slightly. The main reason is that the increase in the cost of raw materials and the increase of artificial cost have made the product unit cost increase in different degrees in the reporting period; the two is that the company's products are mainly exported to foreign countries, and the dollar price is quoted in the reporting period, and the RMB appreciation factor in the reporting period has brought adverse effects on the stability of the product gross interest rate of the company.

Huatai Securities analysis pointed out that, by the downturn in overseas demand, Shanghai Jialin Jie textile Limited by Share Ltd performance lower than expected in the first half.

As the late overseas economy is still unclear, the company forecast 1-9 months net profit fell 30-50%.

The decline in gross margin and rising cost rate dragged down net profit.

As the company's product price lags behind the cost of raw materials and labor, the gross profit margin of the first half of the year dropped by 1.22 percentage points, to 21.59%, of which 67% of the garments accounted for 67%, and the fabric products decreased by 0.66%.

In the first half of this year, the acceleration of independent brand stores, new brand investment and new personnel, etc., the company's sales and management expenses increased by 20% and 12% respectively, which were higher than the income growth rate. The cost rates increased by 1.49 and 0.97 percentage points respectively over the same period. At the same time, the investment projects were completed, interest income was reduced, the financial cost rate increased, and the period cost rate increased by about 3%, to 15.82%.

The development of independent brands has accelerated, but it has not yet turned the corner.

By 2011, the company's independent outdoor brand Kroceus stores 8 (7 net increase), the first half of the first half of this year, the new store speed should be faster than last year, the income of 7 million 710 thousand yuan, up 160%, still in the cultivation period, the brand is still losing 8 million 360 thousand yuan.

This year, the new Super Natural B2C brand, which is a natural and environmentally friendly fabric concept, is expected to be released in the near future.

Capacity bottlenecks have been resolved and performance improvement will be warmer overseas demand.

As an international high-end outdoor brand functional fabric supplier, the company has a stable strategic customer resources and a leading position in the scale of technology and technology, which is in line with the 12th Five-Year industrial pformation and upgrading direction.

At present, the company's new 6 million 800 thousand M recruitment project is completed, and its capacity will reach 18 million 800 thousand meters. The original Nantong high-grade fabric project will be restarted in Hubei. The improvement of Shanghai Jialin Jie textile Limited by Share Ltd's performance will mainly depend on the digestion of the company's capacity after the rising demand of overseas customers.

According to the securities analysis of the century, the company is a designated supplier of many world-famous outdoor sports brands, mainly producing weft knitted wool fabrics, fleece fabrics and sports functional fabrics and related garments.

Among them, the world famous outdoor polyester terry fabric brand Polartec nearly 40% products, outdoor well-known wool sports brand Icebreaker 90% or more products are provided by Shanghai Jialin Jie textile Limited by Share Ltd.

More than 98% of the company's products were exported, and Japan's earthquake and European debt crisis had a negative impact on exports from Japan and Europe, but orders for exports to the US still increased.

According to the data provided by COCA, the total retail sales in China's outdoor products industry increased from an average of 47.47% from 2000 to 2011.

It is estimated that with the improvement of living standard and the change of outdoor sports concept, the outdoor industry in China will continue to grow at a high speed in the next 3-5 years, and the capacity of 40%-50% will continue to expand.

However, investors are puzzled by the fact that the outdoor industry is growing at an alarming rate in China, but as a top outdoor fabric provider, the company has not shared this fast-growing market.

Some analysts believe that this may be related to the positioning of the company's top brand fabric providers, the growth rate of top brands worldwide is not so fast. Perhaps when more mass brands use fabric, Shanghai Jialin Jie textile Limited by Share Ltd shares outdoor high growth time.

The company's performance growth point lies in the short term productivity improvement, and its long-term promotion lies in the promotion of its own brand in China.

What is worth mentioning is that the original capacity of the company is 12 million meters, and the stock raising project has increased by 6 million 800 thousand meters. It has been put into operation by the end of last year. With the improvement of Japan and European economy, foreign orders are expected to keep growing, and the increase of production capacity will become the main thrust of profit growth in the short run.

In addition, the private brand KR is expected to break even in two or three years and become a long-term profit growth point.