40 Clothing Brand Enterprise Inventory Interpretation!

List of listed companies

With 2016 semi annual reports being released, listing

The "crisis" has been swept through the horizon, and the "inventory crisis" which has long troubled the development of the industry is still spreading.

Wind statistics show that at present, 40 listed clothing companies in A share have published semi annual reports, and the total inventory at the end of the report is 34 billion 850 million yuan, which is more than seven times net profit.

A senior executive of a garment company who did not want to be named said frankly: "at present, garment enterprises need to digest these stocks for at least 3 years, but they still need profit support behind their inventory. When the financial statements are ugly, banks will follow up with debts, so more and more clothing enterprises are going to store up strange circles."

40 home service enterprises inventory 34 billion 800 million Hai Lan home first

Since 2010, due to the sluggish demand, inventory backlog has been a deadlock in the apparel industry.

As of August 29th, a total of 40 clothing textile enterprises disclosed the first half of the financial report, reporting the end of the total inventory of 34 billion 852 million yuan, accounting for 35.08% of the current assets.

It is worth mentioning that the 40 listed companies in the first half of the total net profit is only 4 billion 853 million yuan.

Specifically to the company, the first half of the year, the largest inventory of listed clothing enterprises is Hai Lan's home, 8 billion 559 million yuan, compared with the same period last year increased by 31.82%.

According to the reporter's understanding, the high inventory of Hai Lan's home has been criticized by the market at the beginning of its listing.

Statistics show that the home of Hai Lan in April 11, 2014 was listed on the shell of Keno technology. The inventory amount in the 2014-2015 years was 6 billion 86 million yuan and 9 billion 579 million yuan respectively, and the proportion in the current assets reached 42.56% and 50.68% respectively.

For the reasons for the sharp rise in inventory, Hai Lan's home has explained that the main business is to expand the scale and increase stocking.

The half year report 2016 showed that Hai Lan's home had 652 stores in the first half of the year, and the total number of stores reached 4642, and the number of stores in 2014 and the end of 2015 was 3716 and 3990 respectively.

According to the Hai Lan home plan, the store expansion strategy will continue in the future, that is, the company's inventory may remain high in the future.

The turnover of inventory is amazing. It will last 2 years on Saturday.

In addition to Hai Lan's home, Jihua Group,

The stock amount on Saturday also exceeded 1 billion yuan, 4 billion 412 million yuan, 2 billion 51 million yuan and 1 billion 496 million yuan respectively.

The stock of less than 100 million yuan, only three shares of the Sino submarine shares, the Bo Bao Long and the Jie Jie shares, the amount was 85 million yuan, 66 million yuan and 60 million yuan respectively.

From the days of inventory turnover, it is far ahead of 833.72 days on Saturday. That is to say, even if the company does not produce no production in the next two and a half years, the existing inventory can meet the sales demand. The days of inventory turnover are 685 days and 596 days respectively, while the days of inventory turnover are 685 days and 596 days respectively.

Vigna S profits 150 yuan a year and a half

For garment enterprises, product backlog not only takes up the company's operating capital, but also increases the management cost and profit cost of the company, lengthen the turnover cycle of the product, thereby reducing the overall profit of the company.

Take Vigna S as an example. Due to the high inventory, the accounts receivable and short-term loans in the first half of the year were higher than those in the same period last year, but monetary funds dropped by 65.7%. At the same time, the net cash flow generated by the company's business activities decreased by 63.48% compared with the same period last year.

A private analyst told reporters that in the case of accounts receivable growth, the short term borrowings of vicknus increased, while cash on account was reduced, and cash flow from operations was negative.

Vigna S's semi annual report revealed that in the first half of the year, the company achieved operating income of 372 million yuan, down 15.51% compared to the same period last year, and the net profit attributable to shareholders of listed companies was 28 million 920 thousand yuan, down 60.78% compared to the same period last year.

However, the reporter noted that even if this part of the abnormal profits and losses were thrown out, the net profit of Wien was reduced by 45.15%.

As profits were eroded in great quantities, Wien began to sharply shrink stores.

Half a year report showed that Vigna S closed 12 stores in the first half of the year, plus 139 of them closed in 2015, and the number of shops closed more than 150 a year.

In addition, the United States and the state owned clothing stores and stores in the country have reduced 2000 in two years, and seven wolves also shut down 519 stores in 2015. It said that 2016 stores were closed in the first half of the year, and the exact number was not clear.

Go inventory mode: Crazy discount + force "electric business"

In addition to closing stores,

It has become a traditional practice for most garment enterprises to inventory.

A reporter's visit found that the annual sale of Mei Bang clothing will be sold to inventory, with some discounts as low as seventy percent off. Some of Lining's products are also less than half off in outlets outlets.

For this way of cleaning up inventory, the private analysts interviewed by reporters said, "spend billions of dollars on celebrity endorsements, but if the discount is flooding, the brand image may end up worthless."

Another way to go stock is to let businesses hate hate business channels.

According to incomplete statistics from reporters, more than 90% of listed companies have put forward the "Internet pformation" plan.

However, from the results of the published interim report, the electricity business does not seem to bring substantial contributions.

Mei Bang clothing has also been because of the lower electricity supplier discount than the franchisee low internal contradictions, resulting in further increase in company inventories.

Statistics show that in December 2010, the United States and Bon went online to buy the electronic business platform. But after about 60000000 yuan of investment, the company said that the business was stripped of the business because the United States couldn't adapt to the development needs of the state purchase network in terms of resource allocation, logistics distribution and marketing operation. Besides, the B2C clothing brands such as fan and other professional customers had been put down.