Suspension Of IPO Sanfo Outdoor Door Being Stopped

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Xiaobian network to introduce the growth rate of the domestic outdoor industry decline, Sanfo outdoor rough road.

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.

Sanfo outdoor, the first outdoor retailer in China, has finally landed in the capital market.

Sanfo outdoor recently announced the announcement of the initial public offering of A shares, which was postponed. It said that due to the recent market volatility, it decided to postpone the subsequent issuance.

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.

IPO reprieve

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 pformed 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 SFC issued the list of IPO declaration enterprises.

The company is listed on the 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.

Downside risk

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 profit mode of the company 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 profits, and the main business profits mainly come from this. In recent three years, the difference between the purchase and sale of commodities accounted for 99.02%, 98.75% and 98.62% of the total revenue 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.

Reporters 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 shopping malls have already reached cooperation, not only in Beijing, but also in shopping centers such as Wuxi.

Industry growth rate decline

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 the foreseeable growth decline, the explorers put forward the pformation of the "outdoor travel comprehensive service platform" in 2013, holding the Singapore Online Travel Corporation Asiatravel and the domestic green field network respectively. At the end of last year, the 20% share of the map (Xiamen) was obtained by 150 million yuan as a collection of multi brand and multi category outdoor goods, and more than 700 outdoor multi stores have been built all over the country.

Pathfinder wants to get online and offline to become an outdoor service provider rather than a single outdoor product.

Manufacturing retailers.

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.