Seven Wolves Reported In 1-9 Month: Sales Growth In Three Quarter Net Profit Increased By 37.28%

On the evening of October 22nd,

The 1-9 month earnings report was released. Due to the company's sales growth and cost effective control, the company's performance has been raised to a certain extent.

The results showed that the total revenue of the company was 1 billion 28 million yuan in 7-9 months, an increase of 13.43% over the previous year, and 2 billion 514 million yuan in 1-9 months, an increase of 19.71% over the same period last year. The net profit attributable to shareholders of the listed company was 156 million yuan in 7-9 months, an increase of 37.28% over the previous year, and 402 million yuan in 1-9 months.

Basic earnings per share of 0.89 yuan.

The company's three quarter growth rate was 13.4%, but compared with the 24.5% growth rate in the three quarter of 2011, it still has a certain gap, and it is also lower than the 2012 autumn and winter orders will increase by 25%-30%.

The gross profit margin of the company in the first three quarters was 44.1%, an increase of 2 percentage points compared with the same period last year.

Due to the company's sales growth, and in a depressed environment of macro consumption environment, the pressure of merchants' funds is greater. The company increases the channel support and increases the agent's credit line for the delivery in autumn and winter. Therefore, accounts receivable increased sharply by 157.32% at the end of the reporting period.

On the other hand, the cost of finance has dropped by 163.85% over the same period.

However, sales and management fees still show growth.

The sales expenses increased by 11.53% to 111 million yuan compared with the same period last year, while the management fees increased by 14.68% to 63 million 493 thousand and 300 yuan over the same period.

Due to the increase in sales revenue, the cash receipts received from sales of goods increased correspondingly, and the company said that the increase in the amount of suppliers' credit lines, while the implementation of bank settlement and the delay in payment of goods, made the net cash flow generated by the company's activities at the end of 9 increased 137.65% to 183 million yuan over the same period last year.

Although the company's performance is growing, we can still see that there is a widespread inventory growth phenomenon in the industry.

At the end of September, the stock grew by a certain margin from 14.60% to 736 million yuan.

The company said it expects the year 2012 to be attributable to

The net profit of shareholders of the company ranged from 536 million yuan to 618 million 460 thousand yuan, up 30% to 50% over the same period last year.

The company said that the order of the company increased in 2012, so its performance in 2012 is expected to increase over the same period last year.

In October 23rd, CICC released a research report that the selling pressure of the seven wolves terminals led to a slight lack of confidence among franchisees.

The end of 2013 spring and summer

The growth rate of orders has slowed down to a low double-digit growth rate.

In addition, this year the company's shop speed has also slowed down.

This year

The overall consumption is relatively low.

The company's stock is generally higher.

In the medium and long term, the market of terminal business casual men's clothing is less affected by the international brand competition pressure and the electricity supplier channel, the competition pattern is relatively stable, and there is also the channel sink space.

As a representative of business casual men's wolves, the medium and long-term development prospects are still promising.

Maintain "recommended" rating.

In October 22nd, seven wolves fell 0.03% to 21.67 yuan.