Quanzhou: Traditional Industries Are Still Making The Most Money In Depth Adjustment.

A shares of 14 Listed Companies in Quanzhou achieved a total operating income of 17 billion 735 million yuan in 2015, up 7.28% compared to the same period last year, achieving a net profit of about 1 billion 740 million yuan, up 3.64% over the same period last year.

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Facing the complicated international and domestic economic situation and the superposition of economic trend, structural and cyclical factors, the 14 listed companies of A shares in Quanzhou have been running steadily and steadily, and their business scale and profits have kept growing.

Shanghai Stock Exchange achieved a total operating income of 17 billion 735 million yuan in 2015, up 7.28% compared to the same period last year, and realized a net profit of about 1 billion 740 million yuan, up 3.64% over the same period last year.

Leverage to achieve initial success

Reporters combing 14 A shares listed in Quanzhou spring enterprises annual report found that, with the slowdown in demand growth, in order to achieve stable growth in operating income, operating costs have declined, down 2.2% over the same period last year.

In addition, in response to the downward pressure on the economic environment, the company tends to adopt the conservative strategy of "cash as king", which accelerates the return of operating cash, and the net cash flow generated by business activities is 2 billion 240 million yuan, up 6.8% over the same period last year.

Among them, with the continuous decline of international trade growth, the sharp decline in commodity prices and overcapacity and other factors, there were 9 enterprises' negative profit growth year-on-year. Among them, Xingye technology, min FA aluminum industry, Na Chuan technology, Huiquan beer, South Wei software and Tianguang fire control dropped to two digits. Among them, the largest decline in Xingyi technology and min FA aluminum industry did not pay dividends.

The growth of net profit of 5 enterprises that have achieved positive growth has Kuan Fu shares, Phoenix Bamboo textiles, torch electronics, nine herding kings, and noble birds. Besides the "noble birds", other companies have achieved double-digit growth.

Nine Mu Wang sent 5 yuan for every 10 shares and became the most heroic fountain of red envelopes.

Under the reality of oversupply, the balance sheets of A share listed companies in Quanzhou need to be repaired and improved through capacity, inventory and deleveraging.

According to statistics, the total net inventory of 14 A share listed companies in Quanzhou reached 5 billion 310 million in the year 2015, up 31.07% over the same period last year. The pressure on the structural adjustment to stockpile and capacity is still in existence; the average assets and liabilities ratio of the 14 companies is 28.57%, 1 percentage points lower than last year, and the asset liability ratio level is stable at a healthy level, and the leverage has been achieved.

The clothing industry is still the most profitable.

Clothing companies that are gradually warming up are still the mainstay of A share market in Quanzhou.

The number of birds and seven wolves has become the three most profitable businesses last year. The net profits of three companies belonging to the parent company last year were 404 million, 332 million and 273 million respectively.

Although they belong to the first camp, the difference between the nine shepherd kings and the seven wolves in the men's clothing area has been widen. Although the operating income of the seven wolves is 2 billion 486 million yuan higher than that of the nine shepherd kings, the net profit is only 70% of the king's 70%.

Last year, 9 Mu Wang net profit increased by 15.33%, while the seven wolves were hard to change downward trend, fell 5.43%, while the nine Mu Wang business income increased 9.13%, also far higher than the 3.99% growth rate of the seven wolves. If this growth rate, nine year's business revenue will exceed seven wolves.

The nine sides said that since the end of 2012, garment retailers have launched a channel adjustment path, including streamlining of channels, supply chain integration, improving retail capabilities, and opening up all channels, thus opening up the stage of brand integration and single store quality upgrading.

The company believes that, from the actual results, the majority of the industry's brand inventory is near the end, and has achieved some results. The recovery of the subsequent industry will depend on the strength of market demand recovery.

At present, the industry has not yet formed an enterprise with absolute superiority in scale and brand, and there is an opportunity for industry integration and breakout.

In line with the current industry development stage, the company proposes "retail pformation", aiming at improving the quality of single store operation, and combining the advantages of brand promotion, channel construction, product research and development, so as to maintain the leading position in the industry.

When he reviewed the performance in 2015, he affirmed the initial results of the company's retail pformation.

In the retail reform, the company first focuses on the terminal stores, strengthens the retail operation ability in many aspects such as store standards and store manager training, and strengthens the analysis of the sales data of the joining customers, and guides the franchisees to buy goods, business plans and store operations.

Nine Mu Wang strengthened the rapid response to the market and increased the proportion of the mid season supplement. In 2015, the sales of trousers increased by 5% over the same period last year, and further stepped up the market dominance of men's trousers.

In addition, the stock level and stock turnover days of the nine herd Kings also improved. Last year, the balance of the stock of nine Mu Wang decreased by 1.52% compared with the same period last year, and the inventory turnover time was 224 days, which was 18 days less than that of the previous 242 days.

Compared to the seven wolf's main business is still sluggish, the wolf wolf annual report said that in 2015, the company is still in the process of restructuring and pformation of wholesale mode.

In the environment where consumer demand has not yet recovered significantly, clothing consumption has basically continued the weakness of last year, and the income and profits of the original business have been affected.

Since 2013, the performance of the seven wolves has been declining and closing continuously.

Data show that in 2013 and 2014, there was a two digit decline in revenue and net profit, while operating income increased by 3.02% in 2015, but net profit continued to decline.

In the number of stores, as of the first half of last year, there were 2636 stores, representing a decrease of 519 over the same period last year.

For the first time after two years of listing, you gain a positive growth of 6.28%.

The company's annual report pointed out that last year, the company adhered to the retail oriented business upgrading mode, set up a professional team to assist dealers to improve their business capabilities, and reasonably control the size of the dealer's orders. At present, the company's dealers have greatly improved their operating conditions, and the company's performance has also increased slightly.

However, last year, the giant bird still closed shop. Last year, the company opened 565 new stores, closed 1126, closed 561, and had 4465 existing terminal stores. It is expected to adjust 200 to 300 stores this year.

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Deep adjustment of traditional industry

From the top to bottom, the supply side reform is in full swing, and we should do a good job of supply side reform. We need to do subtraction, reduce inefficient and low-end supply, increase the pace of capacity production and inventory clearance in overcapacity industries, and at the same time, do a good job in addition to expand effective and high-end supply, so as to supply and demand synergy to promote economic development.

It is noteworthy that in 2015, when the old kinetic energy development in the overcapacity industry was in a predicament, there were bright spots in the development of new energy supply in Quanzhou's A share market, and the interaction between the new and the old kinetic energy emerged.

Since the listing of "noble bird", it has been carrying out drastic reforms to promote the strategic pformation and upgrading of the sports industrialization group, which is based on the "traditional sports shoes and clothing industry" to the "sports industrialization group based on sports apparel manufacturing and coordinated development of various sports industries".

In recent years, the company has continuously and deeply laid out the potential of sports industry, and has divided into three sub fields of sporting goods manufacturing, sports competition, business and sports service industry through self-management, investment and stock ownership, and strategic cooperation.

It is worth mentioning that the tiger culture, which is indirectly owned by the great bird, will be listed on the A shares. The Quanzhou bird springs, a related party of the precious birds, owns 12.08% of Tiger Park Sports. Once the tiger sports are listed on the market, the birds will receive a handsome return.

The successful pformation of the pharmaceutical giant health Guan Fu shares last year stripped the traditional ceramic household plate that once supported its landing capital market from the main body of the listing.

Guan Fu shares, once developed by its ceramic business to become the largest daily ceramics and heat-resistant porcelain production enterprise in China, and created the largest distribution network in the country "China, five days distribution", and spread all over Beijing, Shenzhen, Guangzhou and other ten cities.

However, along with the ceramic industry downhill, the 10 sub distributors of Guan Fu share lost all of them in 1 and September in 2015, and the total losses exceeded 25 million 290 thousand yuan.

In order to pform the losses, Guan Fu shares the above 10 branches and 6 subsidiary companies involved in the traditional household business in December last year. They are packaged and pferred to one of the shareholders of the listed company, Lin Wen Hong's company, Fujian Tongfu Industrial Co., Ltd., which is priced at 430 million yuan.

With a series of mergers and acquisitions, the company, once worn by "stars wearing hat", broke off its old ceramic business and pformed into a new industry company.