Media Questioned The Five Risks Of Outdoor Brand Sanfo Listing

< p > since Beijing's a href= "http://www.91se91.com/news/index_s.asp" > Sanfo outdoor products < /a > Limited by Share Ltd has disclosed the draft prospectus prospectus, the media has many voices to express its concern about its hidden risks. Specifically, it has the following 5 points: < /p >

< p > strong > 1, suspected financial fraud: one year profit top 10 years? < /strong > < /p >

< p > pre disclosure prospectus shows that as of March 31, 2011, Sanfo's outdoor net assets amounted to 88 million yuan.

However, according to the statistics of the previous increase in the prospectus issued by Phoenix finance, since May 2001, the company's shareholders have invested 63 million 640 thousand yuan in total, that is to say, the net profit of the company was 24 million 360 thousand yuan in 10 years, from March 31, 2011 to March 31, 2011.

What is fishy is that the net profit in 2011 is 33 million 650 thousand yuan, which is 9 million 290 thousand yuan more than the sum of profits in the first 10 years.

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< p > for this, Sanfo outdoor secretaries said that the company's profit growth in 2011 was a result of increased stores.

However, there were 11 new stores in the reporting period and why the net profits stagnated. According to the prospectus, the net profit of the company decreased by 18.11% in 2012 compared with 2011, while the net profit of the company in the first quarter was 939 thousand and 300 yuan, down 44.55% from the same period last year.

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< p > strong > 2, raise investment project or hard to profit < /strong > < /p >

< p > according to the prospectus, the total investment of the company to raise funds is 200 million yuan, of which 156 million yuan is used to build 29 stores, 10 million yuan for information system upgrading, and the rest of the funds to supplement the working capital.

Now that there are 11 new stores in the reporting period, and the net profit is not increasing, what is the guarantee for the stores that can be opened with the proceeds? < /p >

< p > strong > 3, achievement or change of face < /strong > < /p >

< p > comparing the gross profit margin of representative retailer or brand dealer at home and abroad, it was found that the gross profit margin of Sanfo outdoors was lower than that of Pathfinder, American REI and Columbia during the reporting period.

The prospectus shows that Shanghai flying frog Commercial Co., Ltd. mainly supplies "a href=" http://www.91se91.com/news/index_c.asp "> brand" /a ", which is the most popular product of Sanfo outdoor. In 2013, the average selling price of the original product was down 5.66%, but the average purchasing cost of Sanfo outdoors dropped by 3.07%.

That is to say, Sanfo outdoor is facing an embarrassing situation that sales price drops far more than the cost of purchase.

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< p > strong > 4, market competition intensifies < /strong > < /p >

< p > in recent years, with the vigorous development of the outdoor industry, foreign retail giants of outdoor products have gradually entered the Chinese market, and domestic professional outdoor stores have gradually begun to form scale, and the company is facing more severe market challenges.

In the field of outdoor goods retailing, Sanfo does not lack competitors.

Many regions and cities will have stronger local brands, such as outdoors in Hangzhou Jiahe, Shenzhen fire fox, Xi'an green ant, etc.

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< p > < strong > 5, electronic commerce shock < /strong > < /p >

< p > > the impact of domestic a href= "http://www.91se91.com/news/index_s.asp" > e-commerce > /a > and the continuous deepening of mass online shopping concept, professional outdoor stores are also facing the dilemma of reduced passenger traffic, which poses a new challenge to Sanfo's outdoor sustained high-speed growth, and may even lead to a sharp decline in market share.

Sanfo outdoor electric business development is relatively slow because the strategic focus is not here. Sanfo outdoor believes that even if the Internet develops fast, professional outdoor stores still have a lot of market.

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< p > during this period, netizens also expressed their views on the 8264 forum outdoor manager section: < /p >

< p > < strong > > donkey Doll: < /strong > /p >

< p > Sanfo listing is not a listing of a company, but a leap of channel retailers. Listing, financing, and opening up shops, Sanfo's profit point is not simply retail sales.

Sanfo should build a platform for tourism, and if there is a takeover, it can separate the club independently and create a high-end self-help tour. The electricity supplier is the business of Sanfo's future development, which should be 20-30 of the business. The club's self-help tour will account for 20. The trade company should buy the Chinese agency business of foreign brands and expand its business type. If I were the advice of Zhang general, I would adopt it. In depth business type, flat management! Sanfo should do customer service first, staff second and shareholders third; Chang has to have 90% decision-making rights; Sanfo's foundation is also a very important social resource; public welfare activities promote Sanfo public welfare undertakings! < /p >

< p > < strong > aTreem: < /strong > /p >

< p > if we do false accounts, we insist on doing three years to the most critical 14 years instead of doing it (a sharp decline in the first quarter). It is known that the two years and 10 years and 11 years are not equal to each other. Sanfo has already done this scale in the line and should have a long-term vision.

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< p > Sanfo's sports management company mainly runs club activities, markets and events.

Its ROC mouse company is a foreign brand agent.

In addition, we have own brand of brand.

It's just the weather to be able to wait and see.

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< p > < strong > Tai Chi fairy: < /strong > < /p >

< p > don't think that as long as you send money to the market, you can make false accounts arbitrarily, so as to get the SFC's approval, you can get money in a big way. It's not that simple. If you don't rush to that link, you'll get a big basket.

Besides, this set of data is too false. Sanfo is finished! < /p >

< p > < strong > vcan: < /strong > /p >

< p > just looked at the Sanfo prospectus (Sanfo's supplier data, ranked first in 2013 is amamfin, about 53000000, second Wei Fu, 40 million out of the top, third of Maya tourism, 18 million 760 thousand, fourth are Hecheng a target= "_blank" href= "http:// www.91se91.com/" > shoes < /a > 11 million 400 thousand) this is also much more water after the issue of the total share capital does not exceed 67 million shares, Zhang Heng also 18 million 980 thousand shares.

In such a small market, the SFC's people are too lazy to eat.

A sports brand (brand Shanzhai overseas) was listed to cover the negative news of the red envelopes, not 3 or 500 million.

When a bird's sports brand came public this year, the boss got about 5000000000 yuan into his pocket.

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< p > compared with sports brand, we still do very pparent and very gentle.

No 4-5 times false, you dare to claim to be listed.

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< p > < strong > discount shop: < /strong > < /p >

< p > from the latest Sanfo outdoor pre disclosure report released by the SFC website in 2013, there are at least 10 loss shops, including 2 million 26 thousand and 800 shops in Fangzhuang, 1 million 214 thousand and 300 negative in Guanghua stores, 42 thousand and 800 in Xueyuan Road, 645 thousand and 500 in Wangjing shops, 530 thousand and 800 in Qingjiang West Road shops, 149 thousand and 800 in Zhenhua store, 363 thousand and 900 in International Building, 35 thousand in Xinfa Road shop, 149 thousand and 800 in Xinmin square shop, and 363 thousand and 900 in Hisense square shop.

In addition, it is difficult to quickly digest the inventory pressure of cash purchases over the past quarter, and it is also a positive factor to promote the pace of Sanfo outdoor listing.

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< p > it can be seen that most netizens have high hopes for Sanfo, and hope that domestic a href= "http://www.91se91.com/news/index_c.asp" > outdoor industry "/a" will flourish, and more enterprises will enter the "fast lane" of development through listing.

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