In The Face Of Adversity, The Pformation Was Well Received.

Just past the "eleven" golden week is undoubtedly a business promotion Festival.

According to the Ministry of commerce data, during the holiday season, sales of clothing, shoes and hats and other commodities increased rapidly. Among them, the sales volume of clothing items of key monitoring enterprises in Henan, Jiangsu and Qinghai increased by more than 20% over the same period.

In the overall downturn of the apparel industry, such data seem somewhat surprising.

However, in view of the A share market, garment stocks have already started to rebound. This year, the apparel home textile sector has increased by more than 28%, winning the market.

The reason for this is that in addition to the "overfall rebound" factor, more and more garment enterprises are opening up the road of pformation, and there are even some "completely changed" ones.

Textile and garment sector rose 44% in 3 months.

According to orient wealth data, from June 20th to October 10th, the textile and garment sector showed a unilateral upward trend, with a 44.29% increase in the period, while the Shenzhen Composite Index rose 14.36%, while the small and medium board index rose by 21.79%.

Apparel stocks have been in the doldrums after a long downturn.

The performance of some old fashion stocks is remarkable: the prices of the seven wolves and the news birds rose by more than or close to 50% in four months, and over 40% on Saturday and over 30% in the United States.

However, the bigger share is the stocks wearing the "pformation" aura, the most typical hundred round pants industry, because of the acquisition of cross-border export retail e-commerce global easy to buy, the stock price in August 27th was as high as 52.48 yuan, 248% higher than the closing price of April 4th before stopping the market, after resumption, it has received 13 trading restrictions.

In fact,

The pants industry is just a typical case.

In the recent A share market, clothing companies that are telling the story of "pformation" are everywhere.

For example, Busen shares may turn from a clothing company to an agricultural company.

In August 22nd, Busen shares resumed for more than 3 months after suspension, and announced an asset restructuring plan: Guangxi Hong Wah agricultural Limited by Share Ltd (hereinafter referred to as Hong Wah agriculture) intends to backdoor Busen shares.

Statistics show that Hong Wah agriculture is an ecological agricultural planting company, its main business is the production and sale of high-quality rice and other agricultural products.

In the recession of the clothing industry, Busen shares were in a loss. The news of Hong Wah's agricultural backdoor was injected into Busen's stock. After the resumption of trading, Busen's stock price closed for 5 consecutive days.

But American state clothes, which focus on casual wear, begin to get involved in finance.

In September 13th, the United States Board of directors announced that the company's board of directors agreed to adopt the motion to participate in the establishment of the Huarui bank. The United States will participate in the establishment of the first batch of private banks in Shanghai. The company intends to invest no more than RMB 750 million yuan (including 750 million yuan) in the establishment of the Limited by Share Ltd.

In September 29th, the company announced again that it was informed from the CBRC website that it agreed to build the Shanghai Huarui bank, and agreed that the Limited by Share Ltd of Shanghai Jun Yao (Group) Limited by Share Ltd subscribe for 30% of the sponsors of the bank, while the US state clothing has subscribed to the 15% promoters of the bank.

The large amount of cash on Semir's clothing accounts also made investors think about it.

In July 21st, it announced that it would buy a 70% stake in Yu Han, Shanghai, at a price of 102 million yuan. Its assets include gifted baby early education brand and little earth children's English.

For the purpose of purchase, Semir apparel announced in the announcement that the company will take this into the children's education and training market, and further build the company into a comprehensive one-stop service platform for children. In the future, it will continue to invest, merge and integrate resources in children's education, animation, film and television, games and other related industries.

And originally engaged in high-end women's clothing business.

In addition to preparing for the "equity acquisition", the group is also preparing to enter the field of children's wear. (002612)

In September 6th, the company announced that the company's wholly owned subsidiary, South Korea, Rhine intends to accept the 4 million 272 thousand shares of akakon company's circulation shares, and intends to participate in the Akbar state company's private placement. It plans to invest RMB 324 million yuan to become the first largest shareholder of Akbar.

Data show that aka Bang is the first Korean company specializing in infant clothing and supplies.

The company is mainly engaged in children's clothing products such as 0~4 years old children's clothing, baby products, skin care products, toys and so on. It has 5 series of brands. Currently, there are 750 shops in South Korea. In 2013, aka state has a total occupancy rate of 16% in the Korean market, ranking second. At present, more than 80 stores have been opened in China.

The traditional men's clothing company nine Mu Wang also started the construction of the electronic business platform.

In September 1st, the company launched the "E mall" platform.

At the same time, the company has set up an online and offline integrated working group to promote O2O related businesses, and will focus on three aspects of inventory integration, order integration and "E mall" in the future.

Even the old clothing companies such as the seven wolves have begun a pformation.

In October 9th, Suning and seven wolves held a press conference in Nanjing. The seven wolves announced their "Wolf Totem" brand, and the shirts entered the pre-sale of Suning dual channel.

The person in charge said that the product will create the ultimate single product through pre purchase, online customization mode, and subvert the marketing mode of the traditional clothing industry.

The pformation of clothing stocks is big and small, and so on.

In response, a garment industry analyst told the "daily economic news" reporter that the industry downturn has sometimes been possible, and that the listed companies can also understand the pformation. After all, many garment companies are facing downward pressure on performance, and are bound to seek new growth points.

"More radical companies will simply switch careers."

The analyst said.

The stock price is still strong after the failure of the pformation.

How bad is the performance of clothing companies? This is a clue from this year's China Daily.

CIC Securities Research Report shows that in the industry, 33 A shares and H-share listed companies as samples, the first half of 2014, the overall operating revenue of 33 listed companies increased by -2.6%, net profit growth was -3.6%, and the business situation remained low.

At the same time, affected by discount sales, the gross profit margin of most enterprises declined, the gross gross profit margin decreased to 49.3%, while the period cost was relatively rigid, and the overall period cost rate increased to 20.87%.

Operating capacity has not changed for the time being. Inventory turnover has dropped to 2.08 from 2.43 at the end of 2013, and accounts receivable turnover has decreased from 13.03 to 11.29.

Among them, women's clothing enterprises in the first half of 2014 decreased by 11% in operating income, net profit fell by 49.6%; men's wear sector (excluding YOUNGOR influence) operating income fell 10.6%, net profit fell 36%; footwear sector operating income fell 2.1%, net profit fell 33.1%.

In contrast, the outdoor and home textiles sector is relatively stable and has maintained a certain growth.

"There is no sign of" bottoming out "at present.

Many clothing analysts told reporters this.

And this year, the news of "bosses go where" frequently burst out of clothing enterprises makes the "cold winter" of clothing industry appear colder.

First of all, Ding Hui, chairman of the Fujian group, who was just listed in Hong Kong, lost contact with the company. After that, Fujian's cable shoe company staged "Luo Sheng men". The company said CEO and COO "father son file" lost their money, and then the main character appeared on the road.

At the beginning of this year, lean clothing company, a veteran clothing enterprise in Quanzhou, Fujian, which had been in operation for 25 years, was auctioned 25 million because of its failure to appear on the market.

Therefore, as soon as the apparel listed companies issue a notice of pformation, or even just rumors, the market will be very excited.

Take Kaiser shares as an example, the company's main business was high-end women's clothing. In the first half of this year, the company's net profit was only 8 million 600 thousand, down 71.51% compared to the same period last year.

As a result, the company is seeking a lot of pformation.

In June this year, the announcement of Kaiser shares was about to buy a 100% stake in cool cattle interaction, which is engaged in mobile game development and operation, with a price of 750 million yuan, so the company's stock price has gained two trading limits.

Not only that, the company announced in January this year that it is planning to purchase 46% stake in Qing Hui lease, and signed a framework agreement to enter the leasing industry.

However, in September 19th, the company announced that the parties could not reach agreement on the contents of the framework agreement, so they decided to terminate the agreement.

This does not seem to be good news, but on the day the announcement was issued, Kaiser shares again gained daily trading.

In August 28th, investors asked the company on the exchange interactive platform. "I heard that your company has bought the online game company. Is there any such thing?"

In September 17th, the company replied, "we have not received the relevant information". In another reply, it clearly stated that "at present, the company has not intervened in other emerging industries, and still insists on the development of the main garment industry". However, this did not prevent the company's share price from rising by nearly 10% in the next few trading days.

"Daily economic news" reporter noted that the current clothing companies are still not part of the resumption of licensing.

The shares of the stock have been suspended since September 3rd, and the company announced in October 9th that the equity acquisition is still in the due diligence stage, and the stock will remain suspended.

Who will be the next black horse?

In fact, the pformation tide of clothing listed companies is not an accidental event.

According to Shen Wan Research Report, the number of small market value companies in textile and clothing, building materials, agriculture, forestry, animal husbandry and fishery, chemical industry, machinery and equipment and papermaking light industries is quite large in most industries, and most of the companies in banking, finance, media and national defense industries have a market value of more than 5 billion yuan.

Among them, textile and garment enterprises accounted for less than 5 billion of the total number of households, accounting for nearly 80% of the total number of industries, accounting for the highest proportion of Listed Companies in various industries.

According to incomplete statistics by reporters, as of October 10th, at least 10 companies listed in A clothing companies (excluding Textiles) had a market capitalization of less than 5 billion yuan.

Among them, the market value of the shares is the lowest, only 1 billion 880 million yuan, followed by Dayang, and its market value is only 2 billion yuan.

Next is George Bai, Saturday, and Hong Kong stock. The market capitalization is 2 billion 640 million yuan, 2 billion 930 million yuan and 3 billion 50 million yuan respectively, while the market value of male clothing company, nore and card NDI Road, is only 3 billion yuan.

Many of these companies are facing the throes of declining performance and shrinking market value.

Take Sha Sha shares as an example, which reported that the first half of the company achieved operating income of 139 million yuan, down 7.92% compared to the same period; net profit attributable to 5 million 448 thousand and 800 yuan, down 21.7% compared to the same period last year.

This performance is also clearly expected in the market, in fact, since 2011, the company's performance has declined for three consecutive years.

On the interactive platform, the company said that "the share capital of the company is relatively small, with a market value of only about 1000000000, but once the market is ripe, the company will make bigger and stronger companies through major asset restructuring or mergers and acquisitions."

And the performance of Dayang creation, a suit business, has also declined for several years.

In 2012 and 2013, net profit fell by 34.14% and 29.67% respectively compared with the previous year, and 2% in the first half of 2014.

The performance of Georges white, Saturday and other companies was also poor for the first two years, and slightly improved in the first half of 2014.

However, in the first half of 2014, these small cap clothing stocks rose to varying degrees.

For example, the shares have risen by more than 50% since June, and the creation of Da Yang has also risen by about 40%.

Will the future "new concept stocks" emerge from them and deserve close attention from investors?