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Lining 2012 Annual Performance Report: Big Losses Nearly 2 Billion Stores To Reduce 1821

2013/3/27 10:58:00 50

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Lining Lining Annual Performance Report 2012 Anta

yesterday, the famous sports brand < a href= "http://sjfzxm.com/news/index_f.asp" > Lining < /a > released the annual performance report in 2012. The report shows that the company suffered huge losses last year and its deficit was nearly 2 billion yuan, which is also the first annual report on the performance loss of Lining listed in the past 8 years. 
 at present, the six major domestic sports brands including Lining, namely, a href= "http://sjfzxm.com/news/index_x.asp" > Anta < /a >, PEAK, China trend, XTEP, and 31st degree, have all released their 2012 results. Except for the slight profit of China's trend, the performance of other brands has declined to varying degrees, and the whole industry has entered "cold winter". 
 Lining closed 1821 stores last year .
 financial report shows that Lining group's revenue last year was 6 billion 739 million yuan, a decrease of 24.5% compared with the same period last year, and the company's deficit reached 1 billion 979 million yuan last year, which is the first time since Lining's listing in 2004. 
 Li Ning Co said that the decline in performance was partly due to the reduction of wholesale sales, provision for accounts receivable and inventory, related costs of implementing change plans and channel rehabilitation plans and other restructuring costs. 
 Li Ning Co's so-called "change and revival" means that it announced a comprehensive change plan in July 2012, and launched a channel revival plan in December 2012, which is the key part of the change plan. It aims at helping distributors in many aspects, including clearing and repurchasing inventory, reducing wholesale sales, rationalizing sales network, adjusting channel policies and formulating plans to refinance accounts receivable. 
Under the channel revival plan, Lining closed 1821 stores last year, making the total number of regular stores, flagship stores, factory shops and discount stores reduced from 8255 to 6434 by the end of 2012. 
Lining, chairman of the P group, said at a performance press conference yesterday, "the most difficult environment for the company has passed." Lining But Lining did not say when the company could turn a profit. 
 Lining said, "2012 of the earnings report is indeed a bitter pill for the company". He expects that the industry will still be adjusted for the next 2-3 years. Given the uncertainty in the current market and industry, short-term business is expected to be challenging and there will be a lot of pressure in the short term. 
 2012, the whole industry declined .
 at the same time, while Lining was losing money, several major domestic brands appeared to decline in performance. China's a href= "http://sjfzxm.com/news/index_c.asp" > sports goods industry < /a > is experiencing the most serious downgrading cycle in the industry. 
 at present, Lining, Anta, PEAK, China trends, XTEP, and 331 six major domestic sports brands have announced their 2012 performance. Apart from the slight rise in net profit in China, the other five companies are also down. 
 Anta's revenue and net profit decreased by 1 billion 359 million yuan in 2012, and its net profit was RMB 1 billion 359 million yuan, down 21.5% from the same period last year, and its turnover was 7 billion 623 million yuan, down 14.4% compared with the same period last year. This is also the first time that Anta's profits have declined for the first time in five years. 
 PEAK sports report shows that PEAK turnover decreased by nearly 40% to 2 billion 900 million yuan last year, and net profit dropped by more than 60% to 310 million yuan. 
Last year, the turnover was 4 billion 950 million yuan, down more than 10% compared with the same period last year, with net profit of 707 million yuan, down nearly 40% from the same period last year. In 2012, XTEP won a narrow margin in revenue. The figure of 5 billion 550 million yuan increased by 0.19% compared with the previous year, but net profit fell by 16.18%, only 810 million yuan. 
Among the six listed companies of P, only China's net profit rose by over 7 to 177 million yuan last year, but sales declined and declined from 35.4% to 1 billion 772 million yuan. 
 analysis shows that the sports brand of China will face severe test in 2013. .
 Li Ning Co last year memorabilia /p >
 < January 19, 2012 > /p >
 Li Ning Co has invested seven hundred and fifty million yuan in total value of TPG and GIC. 
 < February 3, 2012 > /p >
 Li Ning Co announced that layoffs will be launched to reduce the proportion of manpower costs in group sales and plan to reduce the share by about 0.5 percentage points in 2012. 
 < April 2012 > /p >
 Lining launched the online brand LINING JCN, operated by ningshang (Shanghai) Sporting Goods Co., Ltd. 
 < June 11, 2012 > /p >
 Li Ning Co announced that it has signed a contract with CBA to become an equipment sponsor from the 2012-13 season to the 2016-17 season, with the sponsorship amount of 2 billion yuan. 
 < July 5, 2012 > /p >
 Li Ning Co executive director Zhang Zhiyong is stepping down. The company's business will be led by the founder and chairman Lining and vice chairman Jin Zhenjun. 
 < August 2012 > .
 Li Ning Co confirmed that chief executive officer Lu Ning has resigned. 
 < October 10, 2012 > /p >
 Li Ning Co announces the signing of NBA super star and last season champion Miami heat Dewayne Wade, providing Wade with a total price of $100 million for a period of 10 years. 
P > in October 13, 2012
 Zhong Yiqi, chief financial officer of Lining, resigned. 
 < October 17, 2012 > /p >
 extraordinary China Holding Limited announced the acquisition of a 25.23% stake in Li Ning Co, with a spanaction value of HK $1 billion 359 million. {page_break} 
 .
 capital market /p >
 Lining shares fell 4% /p >
 evaporation for two months, HK $2 billion 756 million /p >
 Li Ning Co's performance fell sharply yesterday, causing the company's share price to drop sharply. 
 Li Ning Co released its annual report yesterday, showing that the company lost 1 billion 979 million yuan in 2012. The news sent Li Ning Co down 4.09% at the end of last year, closing at HK $4.46. The stock price fell by HK $2.61, or 37%, compared with the recent high of HK $7.07 in January 21st. According to the total share capital of 1 billion 56 million shares, Li Ning Co's total market value evaporated HK $2 billion 756 million in two months. 
 January 25th, Li Ning Co suffered a sharp fall. .
Under the pressure of financial pressure, Lining disclosed the financing plan on the day. He will raise about HK $1 billion 850 million to HK $1 billion 870 million on the basis of the public offering of convertible securities, which will be used for company development including the implementation of the overall change plan, enriching general working capital and optimizing capital structure. As a result of the substantial discount of the convertible securities, the shares of the investors who are not subscribed will be diluted. 
 by this news, the stock price of Li Ning Co dropped sharply, closing down 14.65% at the end of the day, closing at HK $5.3, and Lining had just hit 7.07 HK dollars in the previous three days. 
 XinDa International believes that Lining will not announce the order of orders from the first quarter of this year, which will further weaken the visibility of the group's future revenue and earnings growth. 
 in addition, the group has increased the discount offered to distributors, which may affect the profitability of the company in the first half of this year. When the outlook for the sporting goods industry in the mainland has not improved, the industry valuation will not be re adjusted in the short term. 
 background > /strong > /p >
 "Olympic year whole industry hurricane rush" /p >
 the brand opening mode of all major brands reached its peak in 2011 .
 "from 2004 to 2008, the Beijing Olympic Games, these 4 years are the stage of China's sports brand rush." Cui Ming worked in Lining marketing department, responsible for the Northeast market and brand maintenance. According to him, at that time, the strategy of the major brands was to expand the enclosures in the whole country, open shop crazily, reached nearly 10000 at the largest number, and the sales department responsible for developing the market became the leading company, all the other departments took sales as the center. 
 the open shop mode reached its peak in 2011. According to the 2011 Annual Report, there were 8255 stores in Lining's regular stores, flagship stores, factory stores and discount stores, and 9297 stores in Anta stores plus sporting goods stores and children's sporting goods stores. Thirty one degrees, PEAK and XTEP have more than 7000 shops, and the number of shops in China is 3119. With Nike, ADI and other brands, tens of thousands of sports brand shops are distributed throughout the country. 
 according to Cui Ming, in this mode, the brand dealer will wholesale the goods to the dealer, even if the sale is finished, and whether the distributor can sell is not the key point, this mode causes the dealer to press heavily. 
 Cui Ming said that the rapid growth mode of crazy expansion and cargo loading is unsustainable. 
 the speed of sports brand expansion is too fast, but the management level has not been improved correspondingly. 
The sports brand that has been expanding rapidly is now facing the problem of overcapacity, and the new population of China has dropped sharply since the 90s of last century, which makes sports brand worse.