The "Noble Bird" Is Strong In The Four Line And The Advantage Of The Offline Market.

In sports industry, A shares listed companies are constantly pushing.

2 days,

An investment announcement was released that the company intends to invest 383 million yuan in Hubei to promote the upgrading of its sports industry operation strategy.

Sports industry development Limited by Share Ltd (hereinafter referred to as Jay Xing) part of the equity and Jay's capital increase.

After the completion of the paction, the company will hold 50.01% of Jay's stake and become its controlling shareholder.

At the beginning of last year, the precious birds were indirectly involved in tiger sports in the near 240 million yuan. At the end of 4 months ago, the market came to the news that tiger sports was going to land A shares.

In the view of the industry, the valuing advantage of A in the A-share market has brought capital advantages to them, so its industrial layout is at the forefront, but at the moment, it is not easy to say how the final result will be achieved.

Eating into regional retailers

This is an important step in the multi brand and multi-channel operation of the company, which is in line with the company's current development strategy, and also lays the foundation for its next multi brand introduction. Jay's retail experience helps to enhance its retail level, he said.

In addition, it will further enhance its performance after the completion of mergers and acquisitions.

It is understood that Jay is a professional sports product retailer, which sells internationally famous brand sports products and sports products through offline retail channels. Currently, the brand authorized by the company has

, ADI, UA, CONVERSE, New Balance, Lining and so on.

In Hubei, Wuhan, Xiaogan and other places, and Hunan, Anhui, Jiangxi and other places, Jie Xing has set up many subsidiaries and branches.

In addition, it is mainly direct retail business, apart from direct retail business, it also includes part of the distribution business.

As of April 30, 2016, there were 265 retail outlets, including 176 direct retail terminals.

The reporter noticed that the Jay's visit to the bird had been cooperated with the well-known sports brand dealer 03813.HK.

However, in March of 2010, Baosheng international sold its 50% stake in Jay's holdings to Qiu Xiaojie, who owns the other half of the shares.

As of December 31, 2015, Jay's total assets amounted to 964 million yuan, and its net assets amounted to 186 million yuan. In 2015, its net operating income was 817 million yuan, and its net profit was 40 million yuan.

In 2016, 1~4 realized operating income of 282 million yuan, and realized a net profit of 6 million 960 thousand yuan.

The most direct problem of acquisition is subsequent integration.

In the latest announcement, the bird and bird side also admitted that after the completion of the acquisition, collaboration with Jay's subsequent integration is one of the risks.

However, the company also pointed out that after completing the acquisition, Jay will still be operated by the current management team, and it will assign personnel to strengthen control over Target Corp's finance, manpower and business, and minimize the risk of non synergy after merger.

Distribution industry by M & A

In the 2015 earnings report, which was released in April, the famous bird pointed out that this year it will continue to promote the company's sports shoes and clothing industry.

In addition to acquiring high-quality channel resources through acquisitions, self building and many other ways, it also plans to introduce internationally renowned sports shoes and clothing brands in the field of subdivision by means of brand acquisition, brand authorization and brand agency.

"Jay's trip has been in the industry for many years. It is a relatively large clothing retailer in Hubei. It first started as an American agent and started with YISHION, and later acted as an agent for sports brand, and also made many international brands.

There are many shops in Hubei.

Ma Gang, an independent critic of footwear industry, told reporters.

Ma Gang pointed out that after the listing of expensive birds, there are a lot of funds on the hands, which involve asset appreciation.

Compared with several listed sports companies such as Anta and Lining, A shares listed many valuable advantages in valuation.

Take PEAK, which wants to be privatized in recent years, for example, the reporter compared it with the great bird.

In 2015, the business income of the noble bird was 1 billion 969 million yuan, less than that of PEAK's 3 billion 108 million yuan.

However, according to the financial terminal data of Oriental Wealth Choice, as of June 2nd closing, PEAK's Hong Kong stock market capitalization was around HK $5 billion 161 million, the rolling price to earnings ratio (P / E ratio TTM) was 11.02, the total market value of the bird was nearly 15 billion 800 million yuan, and the rolling price earnings ratio was 46.86.

In the eyes of the industry, the benefits of investing in Jay are obvious, but there are risks as well.

"Jay's trip does have an impact on the local market, but from a national perspective, its retail channel is not dominant.

In addition, managing a retail companies is not what it used to be good for.

One industry pointed out.

As of December 31, 2015, the number of retail outlets of the number of birds was 4465. According to the urban classification, there were 413 retail outlets in the first tier cities, 841 retail outlets in the second tier cities, 1654 retail outlets in three cities, and 1557 retail terminals in four cities.

Ma Gang pointed out that in addition to the layout of the industry, you should also consolidate the advantages of the four line and the offline market, and continue to enhance product development.