Sanfo'S Outdoor Listing Is Bumpy And Outdoor Industry Has Stamina.

The slowdown in Sanfo's outdoor growth is actually a problem for the entire outdoor industry. Recently, the Pathfinder announced the first half of 2015 performance forecast, estimated revenue of 675 million yuan, an increase of 8.5% over the same period, the profit was 166 million yuan, an increase of 20.5% over the same period last year. The 15% tax rate enjoyed by the high-tech enterprises was prepaid to the enterprise income tax. According to the 25% tax rate, the net profit increased by only 1.5%.

In addition to the recent ups and downs of the stock market and the impact of the policy, the growth rate of the outdoor products industry has dropped from 80% around three or four years ago to a new normal level of less than 20%. The resulting data is difficult to express, and has also attracted the attention of Sanfo's outdoor listing.

Starting from the 30 million yuan investment of Qing Ke venture in 2008, Sanfo outdoor has already embarked on a listed tour. Starting in 2008, Sanfo outdoor began to improve its management structure gradually. In 2010, Sanfo launched second rounds of financing from 20 million yuan of Bo Xin capital. In June 2011, the company was spanformed into Beijing Sanfo outdoor products Limited by Share Ltd. In fact, in 2009, there were brokers in contact with Sanfo outdoor, but at that time, due to the relatively limited number of stores, Sanfo outdoors did not have the conditions for listing.

In September 14, 2012, the IPO declaration enterprise list issued by the SFC, Sanfo outdoor was impressively listed, and the company intends to go public in Shenzhen Stock Exchange. In June 25th this year, Sanfo released the letter of intent to offer shares, announcing that the proposed public offering would not exceed 17 million shares, and it would be listed on the SME Board of Shenzhen Stock Exchange.

Sanfo outdoor said that after the completion of the financing target, it will invest 157 million yuan to expand the marketing network. However, the shock and policy changes that followed it were beyond everyone's expectation. In July 6th, Sanfo announced its outdoor announcement and decided to postpone the follow-up issue. The expected release schedule of the original disclosure will be adjusted, the online purchase funds will be thawed in July 6th, and the online subscription fund will be returned in July 6th.

As the first outdoor retailer in China, Sanfo outdoor IPO has attracted much attention. According to Sanfo's outdoor prospectus, up to now, there are 37 stores in Sanfo outdoor, including three categories of outdoor clothing, outdoor footwear and outdoor equipment, and more than 370 brands. At present, the company's profit mode mainly includes the sale of goods and the charging of club activities. The difference between the purchase and sale of goods is the most important source of profit, and the main business is the main source of profit. Business profit Mainly from this, the recent three years of commodity purchase and sale price difference accounted for 99.02% of the total revenue, 98.75% and 98.62% respectively.

Data show that in 2012, 2013 and 2014, the net profit of Sanfo outdoor belonging to shareholders of the parent company was 27 million 98 thousand yuan, 32 million 203 thousand yuan and 27 million 504 thousand yuan respectively, of which 2014 decreased by 14.59% compared with 2013. Sanfo outdoor said that the company's performance will continue to decline in the future.

Beijing Business Daily reporter found that in the original street independent shop, Sanfo outdoor has begun to enter the shopping mall channels. There are two stores in Sanfo's outdoor shopping center in Xihongmen, Beijing. According to people familiar with the matter, Sanfo outdoor and IKEA private brand stores have already reached cooperation. Beijing Shopping centres including Wuxi and other places have also been registered.

In the foreseeable growth rate of decline, Pathfinder In 2013, it put forward the spanition to the "outdoor travel integrated service platform", holding the Singapore Online Travel Corporation Asiatravel and the domestic green field network respectively. At the end of last year, it acquired 20% stake in Xiamen Road (150 million yuan) as a multi brand and multi category outdoor goods collection store, and has built more than 700 outdoor multi product stores nationwide. Pathfinder wants to get online and offline to become an outdoor service provider rather than a single outdoor product manufacturer.

It is worth noting that Decathlon has entered the fastest growing opportunity in China when the domestic outdoor products industry lingers at a low speed.

Decathlon opened its first shopping mall in China in 2003. By 2009, there were only more than 30 stores in the country. After five years, the company grew at a rate of about 10 per year. Now Decathlon plans to have 500 stores nationwide in 2020.