In The Third Quarter Of 2016, George White Achieved An Operating Income Of 517 Million Yuan.

Recently,

In 2016, the three quarterly bulletin was released. The company achieved operating income of 517 million yuan during the reporting period. The net profit attributable to shareholders of listed companies was 44 million and earnings per share were 0.12 yuan.

In the third quarter, the company achieved an operating income of 158 million yuan in the single quarter, an increase of 12.98% over the same period last year. It continued to maintain double-digit growth. The first three quarters of the year's revenue growth was 15.66%, and its net profit growth rate was 9.11%. The growth rate of the recovery was obvious. The company's operating profit forecast for 2016 was 0%-30%.

The main contribution of the first three quarters of growth is the steady development of the business of professional wear, especially in the East China region, which has maintained a growth rate of over 20% this year. The gross margin of sales in the region has remained at around 60%, leading to a gross profit margin of 48.23% in the first three quarters.

Tops and trousers with higher proportion of revenues.

Revenue growth remained at double-digit growth of over 10%.

Benefiting from powerful channel capability to public customers, we can pfer the capacity to Henan and Yunnan in the Midwest to obtain cost advantages. Our creative design provides our design support. We continue to look forward to the growth of our company's professional wear business and provide stable cash flow.

Build China's school uniform leadership brand APP into campus life

According to our previous in-depth report, by 2020, the space of the school uniform market in China will reach about 120 billion yuan. At present, the whole school uniform market has distinct dispersion characteristics, and the market share of the leading industry is low, and the degree of marketization of the industry still has much room for improvement.

Relying on channels and design advantages, the company has entered the school uniform market in Zhejiang, Shanghai, Fujian and other places. At present, there are more than 150 customers in the stock school, covering 100 thousand students.

In addition, the company tries to cut into campus life through its APP "George White school uniform".

Through functional modules, we should deepen the campus learning and life service in sports, health, curriculum and other fields, increase user stickiness and promote the development of uniforms business.

Build capital operation platform epitaxial layout is worth looking forward to.

The company's determination to expand its scope is obvious. The company has participated in the establishment of Wenzhou Rong Xian equity investment fund center and Pingyang Si Xiang Capital Management Co., Ltd.

Prior to the company's announcement, endogenous growth should be combined with epitaxy mergers and acquisitions to track the development and pformation of new industries, and to reserve more project resources for the future development of the company.

We believe that in the process of building the school uniform business and campus life platform, the company will take full account of the means of extension and capital to establish the industry status of the school uniform market leader as soon as possible.

Earnings forecasts and valuation

With the steady growth of the company's professional wear business and the construction of the school uniform market and the campus life service platform, the extension layout is expected to advance steadily and bring a new profit growth point in the future.