The Retail Cost Of Pathfinder Has Risen Sharply.

In recent years, Pathfinder has been expanding its own team in the way of "outdoor + sports + travel", and has invested a lot in products and Qu Daoduan. Due to the overall downturn in market consumption, intensified competition in the industry, and the influence of Pathfinder on user service function input and spanformation and upgrading of travel service business, Pathfinder company operating profit There has been a decline in the reporting period.

The 2016 third quarter announcement released by Limited by Share Ltd, a pathfinder holding group, showed that as of the end of September, the Pathfinder's operating income in the third quarter was about 613 million yuan, a sharp decrease of over 5% (51.59%) over the same period last year, and the net profit attributable to shareholders of listed companies was about 5 million 950 thousand, down by 7% (73.48%) over the same period last year.

　　 Pathfinder The total operating income in the first three quarters was also not ideal, about 1 billion 700 million yuan, a decrease of 12.43% over the same period last year. Net profit attributable to shareholders of listed companies was 100 million 300 thousand yuan, a decrease of 31.51% over the same period last year. In this regard, Pathfinder said in the third quarter announcement that the revenue decline of the two major business segments of outdoor and travel services resulted in a decrease in overall business revenue.

Among them, the income of the outdoor goods sector fell by 5% over the same period last year, which is inseparable from the current overall domestic economic downturn and the continued decline in consumer willingness. However, the report also shows that the explorers increased the clearance of the over season inventory in the first three quarters to further reduce the long-term operational risks brought by inventory, which led to a decrease in gross margin of sales compared with the same period last year. In addition, the acquisition of quality retailers in the fourth quarter of 2015 also led to the retail of Pathfinder. Terminal cost A substantial increase.

The decline in the travel service sector is even more severe. As a pathfinder, the business sector, which has been the key driver, has declined by about 20% in the first three quarters of the year, mainly due to its subsidiaries' easy access to the world to continue its business upgrading and spanformation. The R & D effort has been heavily invested into experiential tourism products, and the scale of the ordinary travel products business with a lower profit level has been greatly reduced, resulting in a sharp decline in operating revenue.

The report also points out that although the growth of China's national income level and the change of tourism consumption concept have brought huge business opportunities to the development of experiential tourism products, the experiential tourism market is still not mature. The rapid spanformation and massive investment of the Pathfinder in the short term still have great uncertainty, which still has an impact on the realization of the phased goals of the overall sector revenue and tourism service business.