Will Lining Catch Up With Anta Again?

According to the world clothing shoes and hats net, this year's domestic sports

Among them, the most popular is undoubtedly.

Sports (02020-HK), but not to be ignored.

(02331-HK).

From standing at the peak of the industry to being overtaken, Lining has been in the industry for many years. Recently, the male lion in the market who is in the middle of the market seems to have opened his eyes.

Performance continues to stabilize

Lining is always unable to escape the fate of being defeated. On the one hand, Anta sports's performance and share price have reached a new high in history. On the other hand, it is the result of its low performance and its long run up stock price.

But recently, Lining could be proud of himself.

Goldman Sachs reiterated Lining's "buy" rating and raised its target price.

Because of the improvement of profitability, the strengthening of cost control and the progress in the business of electronic business, Lining has been recognized by Goldman Sachs, and its valuation is expected to be pferred back to the same industry level.

Source: Hongkong Stock Exchange

In fact, since 2013, the turnover of Lining has been increasing steadily. In the first half of this year, it increased by 11% to 3 billion 996 million yuan over the same period last year.

Gross profit increased by 13.5% to 1 billion 900 million yuan compared with the same period last year, while operating profit increased by 32.2% compared to the same period last year, exceeding 200 million yuan.

In view of its business composition, sales of Lining's own brand are increasing, while sales of other brand products have been reduced. Lining's products are more focused on Lining brand.

At the same time, Lining's marketing channels are constantly shifting to the Internet.

The concentration of brand products makes their products more streamlined, and the pfer of sales channels gives them more opportunities.

Source: Hongkong Stock Exchange

In the first half of 2017, there was a slight decrease in the income of Lining products from direct sales and franchised dealers, and the income from e-commerce channels increased significantly.

From 12.8% in the same period last year to 18.2% in the first half of this year.

In everyone's brush Taobao today, the battle line is a wise choice, but it is more than Li Ningyi's home to the electricity supplier channel.

Is it difficult to escape the enemy?

Shortly after Lining's stock rating was raised by Goldman Sachs, Anta sports was also upregulated to "buy" by UBS and its target price was raised by nearly 49%.

UBS statement raised the Anta rating because Anta's FILA business has good potential for development.

Source: Tongda letter

Yesterday, the closing price of Anta sports was HK $30.35. Today, the stock price jumped to a higher level. The opening price was HK $31.55, and then it rose to HK $32.45.

At the same time, Anta's layout in the Internet battlefield has been carried out as early as possible. In the beginning of the 2008 survey, the e-commerce team was set up in 2010.

In the double eleven Shopping Festival in 2015 and 2016, Anta was very bright.

At present, the network penetration of domestic sports brands is constantly strengthening. In the first half of 2017, the number of stores in Lining, Anta, XTEP and 331 degrees decreased.

Among them, Lining's total sales point decreased by 111. As of June 30, 2017, the sales point of Lining in China dropped to 6329.

Retail sales and wholesale businesses accounted for 67 and 44 of the 111 sales points, respectively.

We can see Lining's determination to fight online.

It is undeniable that both sides are the leaders of the domestic sports brands. Once Lining was a leader in the first step and was overtaken by Anta's strength. But who knows if Lining will catch up with Anta any more? After all, "everything is possible".

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