Hundred Round Pants Industry To Achieve A Substantial Increase In The Layout Of E-Commerce Market

According to statistics from Ministry of Commerce, there are more than 5000 cross-border e-commerce platform enterprises in China in 2013, and more than 20 enterprises have launched cross-border e-commerce through various platforms in China.

Hundred round pants industry actively layout cross-border electric business field, the prospect is better.

Hundred round trousers industry announced the 2014 annual report.

The main business achievements are as follows: during the reporting period, the company achieved operating income of 842 million yuan, up 88.60% over the same period last year; net profit attributable to shareholders of listed companies was 33 million yuan, up 6.22% over the same period last year; the basic earnings per share was 0.24 yuan / share, down 38.46% compared to the same period last year, of which 0.084 yuan per share in the fourth quarter.

Affected by the combined factors, operating income and gross profit margin have been greatly improved.

In 2014, the company achieved operating income of 842 million yuan, an increase of 88.60% over the same period, and the net profit attributable to shareholders of listed companies was 33 million yuan, up 6.22% over the same period last year.

The fourth quarter income was 554 million yuan, an increase of 302.82% over the previous year, far exceeding the -24.97% growth rate in the third quarter. The gross profit margin of the company in 2014 was 52.52%, a 6.18 percentage point increase over the previous year.

Among them, due to the sharp rise in revenue during the same period, the gross profit margin in the fourth quarter was 55.33%, a 7.38 percentage point increase over the third quarter.

In October 2014, the company completed the project.

Global Tesco's takeover is 11-12 months after the merger.

The net income of operating income and shareholders attributable to listed companies has been greatly improved.

In 2014, the global income of the company purchased 1 billion 416 million yuan, an increase of 203.65% compared with the same period last year. The net profit attributable to the owners of the parent company was 77 million yuan, an increase of 156.34% over the same period last year, of which 424 million yuan was realized in 11-12 months, and the net profit attributable to the owners of the parent company was 24 million yuan.

In 2014, the global sales of Tesco maintained a relatively high growth rate and fulfilled the performance commitments made during the acquisition.

suffer

The expenses and the scope of the merger changed, and the expenses in the reporting period increased rapidly.

AI consulting data forecast shows that over the next three years, the scale of cross-border e-commerce pactions in China will continue to develop rapidly. In 2016, the scale of cross-border e-commerce pactions will reach 65000 billion yuan, with an average annual growth rate of 29.66%.

After completing the acquisition of cross-border e-commerce global Tesco in October 2014, the company continued to promote mergers and acquisitions and investment strategies, and further strengthened its layout in the cross-border electricity supplier sector. It shares shares in Qianhai and Guangzhou.

In 2014, the global sales of Tesco maintained a relatively high growth rate and fulfilled its performance pledge.

Recently, the company also issued the stock option incentive plan (Draft), awarded 12 core members of the global team, 3 million stock options, and set up higher performance appraisal conditions for them to release high growth confidence.

In addition, the company actively develops online and offline marketing channels, and strengthens internal management. In 2015, the main business of the company's trousers industry is expected to achieve recovery.

We expect that the company's 2015-2016 year EPS will be 0.57 yuan and 0.79 yuan, corresponding to the current stock price being 106 times and 76 times.

Maintain "recommended" rating.

During the reporting period, the sales cost of the company was 315 million 879 thousand and 800 yuan, mainly affected by the increase in related advertising, business promotion and promotional expenses, a significant increase of 254.34% compared to the same period last year, and the sales cost rate increased to 37.52%, a 17.55 percentage point increase compared with the same period last year.

In addition, the management fees and financial expenses of the company were increased by 6.19% and 73.42% compared to the same period, due to the restructuring expenses and the change of the scope of merger.

Despite the increase in gross profit and the rapid growth of fees, the net profit in the reporting period was 28 million 659 thousand and 100 yuan, a slight increase of 0.16% over the previous year, and the net interest rate was 3.40%, which was 3.01 percentage points lower than that in 2013.

Affected by the combined statements, the balance of the company's inventory and accounts payable increased substantially compared with the same period last year. At the end of 2014, the company's inventory was 294 million 332 thousand and 500 yuan, which was significantly increased by 109.03% compared with the same period last year, and the balance at the end of accounts payable was 103 million 313 thousand and 500 yuan, an increase of 83 million 17 thousand and 300 yuan compared with the beginning balance, an increase of 409.03% over the previous year.