Which Bird Is Stronger Than The Pacific Bird VS La Natsu Bell?

Repeated defeats, repeated defeats, five years, three times to enter the IPO clothing brand.

Finally, it was fulfilled in June.

At the same time, we also focus on the masses.

The clothing brand Taiping bird has listed A shares for half a year.

By the end of June 22nd, the total value of Taiping bird was 12 billion 706 million yuan, and the TTM was 29.92.

In contrast, La Natsu Bell, who hit A shares at the end of 2014, has a total value of 4 billion 885 million yuan, and TTM is 8.21. The daily share price of HK $9.89 is HK $9.89, compared with the initial IPO issue price of HK $13.98.

In recent years, with the promising public fashion brands, the two sides have been listed in two places, either in terms of market capitalization or market decline, and so on.

We all know that the valuation of Hong Kong stocks is low, but Pes La Natsu Bell's Hong Kong stock market is in the high growth period of its performance.

According to the market analysis report released by international renowned agency Ou Rui, La Natsu Bell ranked fourth in the top ten brands of public leisure wear in 2014, and the market share has exceeded Zara and H&M. In the top ten ranking of women's clothing, La Natsu Bell's market share outperformed that of UNIQLO, ranking second.

Can be seen from the market reaction, La Natsu Bell first share subscription cold, failed.

In full subscriptions, stock prices quickly dropped after a short climb to HK $20, and then continued to fall, breaking down the issue price in less than a year.

During the period, even though La Natsu Bell contributed HK $120 million to buy back his own shares to prove that the operation was better, it still failed to boost the stock price.

By July 2016, La Natsu Bell's share price fell to HK $7.

In the light of this trend, the investors should not agree with capital, regardless of La Natsu Bell himself, for example, Junlian capital.

From 2009 onwards, it began to boost La Natsu Bell's rapid development with capital strength, so that its business performance increased by several times in recent years. With the help of nearly 100 million yuan in capital injection, the top second shareholders of the company were listed on the market in April this year, with a 27.32% stake lower than the previous closing day price of 14.7%, and continued to sell for two days, the cash dividend was HK $464 million.

Goldman Sachs, which bought 5% shares in June 2013 at a price of 300 million yuan, was almost the same as La Natsu Bell when he first launched H-shares in 2014. But with the fall of share prices, Goldman's books have been losing money for more than two years.

If La Natsu Bell were not allowed to issue A shares, he would not be able to see if he would go to Junlian capital.

Look at the Taiping bird, the first day of listing is no doubt suspended on the trading board. At the price of 30.67 yuan per share, the A trading shares reached the highest level of 43.99% on the first day of trading, and the total market value of Taiping bird climbed to 20 billion 500 million yuan by three consecutive trading orders.

Although the company experienced A share shock and Earnings Disclosure last year and the first quarter of this year, the company's net profit continued to decline. By June 22nd, it still closed at 26.75 yuan, corresponding to the total value of 12 billion 706 million yuan, exceeding the size of most apparel companies such as Smith Barney.

Comparing the valuation level and liquidity of the two markets, the capital lure of the A share market is obviously better for La Natsu Bell.

As for the successful listing of A shares, it will be possible to reduce cash holdings at a higher price in the future, so as to maximize the benefits.

This explains why it is so persistent to return to A shares.

In the prospectus, La Natsu Bell also said that H-share financing costs were higher and faced with foreign exchange risks. La Natsu Bell's current financing channels and business mainly concentrated in the domestic market, and the return of A shares to establish domestic equity financing platform would help to improve the diversity of domestic financing channels and reduce the risk of debt financing.

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Throughout the development of La Natsu Bell in recent years, whether it is before the listing or after the listing, the main thing to do after the financing is to open a shop.

According to its prospectus, 1 billion 556 million yuan of the 1 billion 640 million yuan to be raised by the Shanghai Stock Exchange is for the expansion of the retail network, and a new retail information system is planned to invest 84 million yuan.

According to its plan, three new retail outlets will be built within 3000 years, bringing the total number of stores to over 1.

It is easy for people to compare their performance with the American costumes that they used to be crazy about. This is known as the time when the United States was highly motivated by the housing leakage and the rain, which eventually led to a continuous decline in its performance.

According to its first quarter earnings report, the pformation effect is not obvious, enterprise net profit fell by nearly 50%.

In contrast, La Natsu Bell, in 2016, with the rapid expansion of Direct stores, it can achieve the growth of contrarian growth of 8 billion 550 million yuan and net profit of 570 million yuan while the overall market situation of clothing industry is weak. But it also resulted in excessive sales costs, gross profit margins and net interest rates, dragging down net profit for the first time by 13.07%.

Analysis of its reasons, from 2012 to 2016, La Natsu Bell's direct store number rose from 3340 to 8907, which, although to a certain extent, led to revenue growth, but by this period of clothing industry overall sales sluggishness and rising costs of enterprises and other factors, revenue growth is far less than the expansion of sales management, rent and other expenses increased.

Data show that in 2015, the La Natsu Bell monopoly outlets increased by 19.64%, and revenue grew by 16.34%. In the 2016 year, the growth of the monopoly outlets increased to 39.74%, while the income growth rate also rose to 27.92%, but still less than the dot gain.

In terms of rent, almost all stores were directly run, and the rent cost in 2016 was 335 million yuan more than in 2015, which amounted to 2 billion 772 million yuan.

The same problem is also reflected in the Pacific bird.

According to its first annual report released in April, the company's revenue in 2016 was 6 billion 320 million yuan, up 7.06% over the same period last year, and net profit was 428 million yuan, down 20.22% from the same period last year.

In this regard, Taiping bird said that the decline in performance was mainly due to the slowdown in domestic economic growth, retail channel changes, sales costs rising, brand sales less than expected and many other factors, and that the planned net increase of about 600 stores this year.

The expansion of stores is actually one of the main uses of Taiping bird to raise funds.

According to the prospectus, 579 million yuan of its fund-raising will be used for marketing network construction, giving priority to developing central and Northern China's sales channels, focusing on stabilizing and expanding the sales network of municipalities directly under the central government and provincial capitals, thus promoting the development of surrounding cities' sales network.

According to the data, by the end of 2016, Taiping bird had closed 700 stores and opened 1185 stores, including 4279 stores, including 1198 outlets.

During the reporting period, the average single store operating income of Direct stores, franchisees and agencies decreased by 3.92%, 7.35% and 2.32%, respectively, for 12 consecutive months.

By the end of the first quarter of this year, the number of Pacific bird shops decreased to 4145, including 38 new outlets, 35 closed outlets, and the total number of outlets was basically unchanged from the end of 2016, but the gross profit margin of Direct stores decreased by 0.89% over the same period.

Especially in 2016, the stock days of Taiping bird increased by 27 days to 198 days compared with the previous year, and the loss of assets impairment caused by inventory depreciation increased by 55 million 390 thousand yuan.

In the first quarter of this year, the increase in the proportion of commodities over the last quarter caused a sharp increase in the provision for depreciation in stocks, which led to an increase in the value of assets impairment to 91 million 60 thousand yuan, an increase of 58.06%.

In this regard, CITIC in the research report pointed out that the stock of Taiping bird rose year by year, the company's operating capacity has declined.

However, it is undeniable that with the rapid expansion of La Natsu Bell and Taiping bird stores in recent years, consumers are becoming more and more familiar with their brand impressions, and even know that "that is the clothing brand of" China ZARA ".

At the beginning of this year, the magazine had made a survey of the clothing brands.

In the mass shopping mall, there are ZARA, H&M, UNIQLO, GAP, Forever21, C&A and other international fashion brands. There are also domestic fashion brands such as Ochirly, VERO MODA, JACK&JONES, La Natsu Bell, PEACEBIRD men's clothing and Lok ting.

According to the world clothing shoes and hat net, although the domestic brand is still inferior to popularity, the gap is not obvious, and there is already a horns in the brand matrix.

Many consumers will enter ZARA, H&M and UNIQLO stores when they shop. They will also pay attention to La Natsu Bell, Lok ting and other domestic clothing brand shops.

La Natsu Bell's collection store has extended its usual Shopping Center store mode, which is spacious and bright, and has gathered many brands such as La Chapelle, Puella, Candie 's, 7m, La Babit, and so on.

Reporters found that from the beginning of the year to now less than half a year, Taiping bird in the original men's clothing, Lok Chi, children's wear shop on the basis of new opened the women's clothing store.

It should be said that in the past few years, the birds of Taiping have brought about new changes.

Whether it is to organize fashion shows, festivals and other activities, or cross-border cooperation with international supermodels and fashion bloggers, or to examine the latest trend of world famous fashion brands and to understand the high frequency update of consumer demand, the 20 year old is trying to make itself younger. The most direct feeling to consumers is that brands are becoming more and more fashionable, and many young consumers are slowly developing into brand supporters.

And how to continue this advantage, so that every consumer can enjoy the fun of fashion, obviously still needs time to consider.

More interesting reports, please pay attention to the world clothing shoes and hats net.