Dear Bird: Issuing 800 Million Corporate Bonds For Approval And Enhancing Competitiveness

Recently, the company announced that the issuance of corporate bonds has been approved by the China Securities Regulatory Commission. In April this year, the bird announced the announcement of the bond issuance plan. The company intends to issue a five year corporate bond of no more than 800 million yuan to supplement its working capital.

Earlier, insiders said that through the issuance of bonds, you can replace bank loans and reduce short-term debt pressure. But for this statement, the relevant person in charge of the bird has denied it and said that the cash flow of the bird is normal, and there is no cash flow tension.

　　 Guirenniao The next step will be to actively explore ways to further optimize the debt and financial structure of the company through issuing bonds and other equity financing methods, and through non-public offering and other equity financing methods. At the same time, the company will take the core principles of the shareholders' interests and the company's development to take the core business, and make acquisitions in a timely and secure manner, so as to further enhance the overall competitiveness of the birds.

Also recently, Anta announced the recent operating situation announcement. The announcement shows that the order volume of Anta sports ended in September 2014, the second quarter of 2015, has a low double-digit growth, and the same quarter sales in the third quarter increased considerably compared with the same period last year.

Anta said that although the domestic sporting goods industry's inventory level and price reduction activities have gradually improved, but the overall lack of product differences and fierce competition between the industry, the industry still has uncertainties. With Anta brand value, differentiated products and well managed retail channels, Anta Retailers' profitability and their operational effectiveness are improving.

Merrill Lynch pointed out that Anta sports announced that the order volume for the second quarter of 2015 will achieve double-digit growth year by year, and the same store sales of Anta brand products in the past third quarters have achieved a relatively high growth rate, slightly better than expected. In addition, Anta has become an official NBA market partner and NBA authorized provider in China. It is believed that NBA can speed up Anta's market share and enhance its brand awareness.

　　 Bank of America Merrill Lynch It is said that Anta's introduction of NBA as a partner will help drive the flow of people. It is expected that sales growth in the same quarter will continue or accelerate.

UBS pointed out that Anta's sales slowed slightly in the third quarter this year, mainly due to the fact that more shops were relocated and renovated during the period, which reflected that Anta's sales growth would be more robust in the future.