The Current Valuation And Stock Price Are Acceptable.

August 16th afternoon, Fujian sporting goods business

The mid term performance conference was held in Hongkong in 2016, but this conference process is different from usual.

At the beginning of the conference, President Ding Wuhao introduced the development strategy and prospects of the company. Then, chief financial officer Cai Minduan introduced the operation of the company for half a year, and finally introduced the company's business situation by Vice President Chen Yongling.

In the first half of the year, the turnover was 2 billion 555 million (RMB, the same below), an increase of 15.7% compared with the same period last year. Gross profit margin was 1 billion 59 million in the first half of the year, and gross profit margin was 41.4%, which was basically the same as that in the same period of last year. Net profit was 273 million, an increase of 1.3% over the same period last year.

It is worth noting that the administrative expenses of the first half of the year increased by 43.3%. Cai Minduan, chief financial officer, said that the increase in administrative expenses was mainly due to the increase in depreciation fees, staff salaries, the new headquarters of the company, and the increase in R & D expenses.

Sales and distribution costs also increased by 11.1% in the first half of this year, thanks to a substantial increase in advertising costs.

Cai Minduan said that advertising costs accounted for 12.2% of revenue in the first half of the year, and that it would maintain a level of 12% to 14% in the future.

"Strategy" and "confidence" were repeatedly mentioned at the meeting by the president of the 31st degree, Ding Wu.

Ding Wuhao said that the company's future development will adhere to sports.

High end outdoor

ONEWAY, overseas undertakings and electricity suppliers, "five major plates" and the development of ideas.

He said that in the next three to five years, the proportion of overseas sales will account for 5% to 10% of the group's sales.

By the end of June, the number of sales outlets in the United States, Brazil and Europe was 180, 908 and 52 respectively.

As one of the top sponsors of Rio Olympic Games, 331 degrees were benefited by a series of Olympic Games. Sales in Brazil increased by more than 500 in the first half of this year, from more than 300 at the end of December 2015 to nine hundred at the end of June.

Ding Wu introduced to Zhitong finance, "to tell the truth". At present, overseas markets and high-end outdoor brands are not making money, because overseas businesses are just beginning, and the cloth is not big enough. I believe that when the layout is big enough, overseas businesses will start to make profits.

He said that the sales outlets in the future will continue to grow at a rate of 100 to 200 per year, "not too fast".

Similarly, as one of the five major development strategies, the current sales mode is "55%", and 50% of the sales are offline inventory stores, and the other 50% are new products.

Chen Yongling said that the proportion of the future will be substantially adjusted "28 points", 20% for sales inventories, 80% for new products.

For PEAK, which is a local business in Quanzhou, and is also a sporting goods dealer, PEAK will soon be privatized. Xiang Zhitong finance, Ding Wu, said that the financial market in Hong Kong is relatively healthy and healthy development. It is acceptable to the current valuation and stock price.