The Future Of Domestic Sporting Goods Brand IPO Is Uncertain

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Xiaobian network to introduce to you is the domestic sporting goods brand IPO also defeated IPO, lack of market stamina.

Since the opening of Anta sports in 2007, the domestic sporting goods industry has set off a strong listing cyclone.

In just 3 years, XTEP, 31st degree, PEAK sports, Xi Delong, Baosheng international, China trend, Pathfinder and so on have been inside and outside IPO.

However, the IPO consulting agency, a prospective consulting firm who provided the feasibility study of pre market segment research and raise investment projects for Voight sports, found that the enthusiasm of listed sporting goods companies gradually declined from 2010 to the present. Despite the successful completion of the 2 year A stock market early this year, the Nanjing border town sports and del Hui both stopped their examination. However, Jordan sports, which had already been on the market in 2011, is still in the queue waiting for trial, and the future is uncertain.

Sporting goods business is also IPO defeated IPO

In November 2011, Jordan applied for sports first meeting, and plans to go public before the end of March 2012, and the listing process of Jordan sports is also widely concerned because of the "A share sports shoes and clothing first stock" status.

Most of the listed sporting goods companies were listed overseas, including Hongkong, the United States, Singapore and so on. As of then, A shares did not appear in the real sense of sporting goods companies.

Unexpectedly, as the "flying man" Jordan launched an attack, he accused Jordan of abusing his name and image in an unauthorized case, so Jordan sports was deeply involved in the infringement lawsuit.

Jordan sports, which is expected to lead the A share market of sporting goods companies, has been dragged away for a long time. At the beginning of this year, it was robbed by expensive people, and its IPO prospect is still uncertain.

You know, the success or failure of a listed company can decide the position of its market competition for any company.

Especially for sports products such as the mass consumer industry, A share listing means a great improvement in brand awareness, and the impact on the company's performance is self-evident.

Prospective investment advisers believe that the failure of Jordan sports on the IPO battlefield will pose a great threat to its future development.

But the original development momentum is not swift and fast, because the first step to complete the IPO, is expected to rely on the advantages of Listed Companies in the future to win more business opportunities.

As a matter of fact, the sports goods industry has been successful in the case of IPO.

As the first listed sporting goods company in Fujian, the listing effect of Anta in Hongkong is particularly prominent.

Public information shows that Anta has about 2000 stores in 2004, but its annual sales volume is only 266 million yuan. In 2007, IPO successfully raised 3 billion 200 million yuan in the Hong Kong stock market, and the number of stores rose to 4716, with sales of nearly 3 billion yuan. In the following year, the total number of stores rose to 5667, with sales reaching 4 billion 630 million yuan.

It can be seen that listing is a watershed. The success or failure of the listing determines not only the development of the enterprise itself, but also the great changes in the competition pattern of the sporting goods industry.

Border city sports, del Hui termination of A shares IPO Hong Kong stocks or way out

Nanjing border town sporting goods Limited by Share Ltd was founded in 2002. Its main business is the design, development, production, brand operation and sales of multi brand outdoor products.

The product range includes outdoor clothing, footwear, outdoor equipment accessories and so on. At present, the company is running three famous European outdoor brands NORTHLAND, LOWA and LEKI.

By the end of 2012, the number of shops in the border city sports brand has exceeded 500, and the outlets are located in the first and second tier cities in China.

The company began to receive counselling in June 2012. It has maintained an average annual growth rate of 80% over the past 10 years. In 2011, it achieved sales revenue of 2.3 billion and 22 million 570 thousand yuan in taxes.

In the nearly 2 years of A shares queuing up for nearly 2 years, border city sports eventually withdrew their applications. The reason for the termination of IPO was not explained by the authorities. However, forward-looking investment consultants believe that the biggest obstacle to their growth is their growth.

At the same time, the Beijing Sanfo outdoor products Limited by Share Ltd, which is listed at the same time with border town sports, is still in the discontinued review status of the small and medium-sized board. The reason for the suspension is that the application documents are not complete, resulting in the audit procedure unable to continue.

As the first professional outdoor chain retailer in China, Sanfo outdoor IPO has attracted much attention.

However, the company's performance and gross profit margin have declined, and the risk of inventory rising and reliance on suppliers has become increasingly prominent.

If the financial information of the 2014 year can not be updated before September 30th, it will go on the same road of border town sports: the termination of the review.

Another unfortunate ending is del Hui, a sporting goods company dedicated to the development, production and marketing of sports shoes and accessories.

In April of 2012, del Hui formally launched the road of listing, which was intended to be listed on the domestic stock exchange for initial public offering, and was accepted by Guotai Junan at the time.

In 2013, del Hui formally submitted an initial listing application to the SFC.

In July 1, 2014, A shares were officially closed.

For the reasons for the termination of the review, the person in charge of the company disclosed that the domestic IPO queue was too long, and the waiting time of the company was too long.

At the same time, del Hui is currently seeking overseas listing.

Prospective investment advisers found that Del Hui was born in Jinjiang, Fujian, where Anta, XTEP, 361 and other famous sports brand listed companies have been bred, but today they are in the downlink cycle of the industry. They are not so wise about the choice of IPO and IPO locations.

If we turn to the HKEx, IPO may still have a chance.

For example, the Quanzhou enterprises, the two odd sprint A shares IPO reactive power, after the beginning of this year listed in Hongkong; also from the A shares IPO to Hongkong listed Quanzhou enterprises rich birds, this year's performance in the Hong Kong stock market is also very eye-catching.

Industry restructuring has become the biggest growth burden.

Enthusiastic retreat has nothing to do with industry growth cycle.

In the past 2000-2010 years, with the improvement of the macro environment, the upgrading of residents' consumption, the revival of market demand and the stimulation of large-scale sporting events, the national sporting goods industry grew rapidly. In 2010, the industry grew by 28.54% annually.

Subsequently, the sporting goods industry gradually entered the stage of pformation and adjustment.

A large number of sporting goods listed companies headed by Lining have been faced with a series of problems, such as sales slump, declining performance, continuous closing stores and high inventory pressure.

Looking ahead, investment advisers believe that the craziness and expansion of the growth stage will ensure that the fast growth mode no longer meets the needs of the sporting goods industry.

As far as internal reasons are concerned, domestic sporting goods enterprises are mainly private enterprises, and family run businesses are very common. After rapid expansion of the brand, management and management may not be able to keep up; for external reasons, the rising cost of rental shops, the high cost of manpower, fierce competition in the market, the compression of profit margins and the separation of e-commerce are all important factors that cause the industry to slide.

Take the A bird listed at the beginning of this year as an example. The company's main R & D, design, production and sales of the brand sports shoes and sportswear were 995 million yuan in the first half of 2014, and the net profit was 164 million yuan, down 19.04% and 5.77% respectively.

Moreover, in the first half of the year, accounts receivable turnover days increased to 251 days from 167 days in the beginning of the year, and the inventory turnover days were 28.18 days, and the risk was not small.

Therefore, the whole country

In the downside risks, the industry is faced with arduous adjustment pressure. At this time, the advantage of valuation in the capital market is not obvious.

Moreover, the prospective investment consultant believes that the capital market is a platform for the growth expectation, and the investment space of an industry that is going downhill is bound to be limited.

Although the IPO realized early this year, we saw that more sporting goods companies did not succeed on the IPO road.