Hai Lan Home A Shares Convertible Bond Applications Received

National Men's wear brand -- Hai Lan's home The Limited by Share Ltd (hereinafter referred to as "Hai Lan House") issued a notice on the evening of December 6th, saying that the company's application for convertible bonds that could be converted into A shares of a company worth 3 billion yuan has been accepted by the China Securities Regulatory Commission.

According to the world clothing and shoe net, Hai Lan's home has announced that it will issue a 3 billion year convertible bond for 6 years, which will be used for upgrading the company's industrial chain, constructing logistics parks, and building the R & D office building of AI Ju rabbit. The construction period of the 3 projects is 2 years, 3 years and 2 years respectively, with 620 million yuan, 1 billion 950 million yuan and 430 million yuan respectively. At the same time, Hai Lan's home also issued a shareholder return plan for 2017-2019 years. In the year (current period) net profit is positive, cash flow is abundant, does not affect the company's subsequent continuous operation, profits are distributed. Cash dividends are preferred.

Among them, there will be great progress in the construction of industrial chain. Hai Lan's family intends to invest 620 million yuan for information upgrading and upgrading of the store, integrated information platform construction and TM system upgrade. After the completion of the project, the company will fully cover the intelligent service system, the customer experience will be improved, and the "precision marketing" can be promoted. market The ability to reflect demand will improve, clothing. Design The leading time of production will be shortened, inventory risk reduced, product inventory structure optimized and operation efficiency improved. At the same time, the 9 warehouses with a total area of 376 thousand and 500 will continuously match the scale of new business development to meet the needs of temporary storage and temporary storage, further improve logistics efficiency and achieve smooth operation of the entire industrial chain.

AI Hai rabbit, one of the two major chain store brands of Harean house, has been growing well in recent years. Its revenue growth in 2016 was 67.17%, and 2017Q1-Q3's revenue growth was 76.96%. Under the premise of considering the benefits of store management, the company also adopted a strategy of expanding store expansion to AI Ju rabbit. In the first quarter to the three quarter of 2017, 58 new stores and shopping malls were added to AI rabbit. The revenue of single store increased by 4.72pct compared with the same period last year, and the gross profit of single store increased by 27.03pct over the same period last year.

The industry expects that the terminal retail sales of AI Ju rabbit will grow by 80% in 2017, and will double in 2017. In 2020, Hai Lan's family intends to invest 430 million yuan to build the R & D office building of AI Ju rabbit, add nearly 400 high-end equipment, further introduce high-end design talents, constantly strengthen the fashion design ability, and enhance the leading position of the city's fashion and leisure Women's brand in AI Ju rabbit, and create a new high performance growth point of the company. At the same time, 4 of the 9 warehouses that the company intends to build is dedicated to AI Ju rabbit. After the project is completed, there will be 8 warehouses to support about 4 billion yuan of terminal retail sales.

In addition, Hai Lan's home has continuously strengthened the mainstream e-commerce platform, the company's official website, WeChat mall, mobile APP and other online channels. At the same time, the company has deepened the O2O mode, combined with the company's "intelligent store" service system. The number of O2O stores is expected to increase from 1000 to more than 5000, and the online and offline complementarity mechanism will gradually improve. The new logistics park of the company will be dedicated to the electricity business by 126 thousand and 400, and it is expected to support the sales volume of electricity suppliers with around 5 billion yuan.

Lei Yu, an analyst with Changjiang Securities, said that, as a whole, Hai Lan's home has grasped the historical opportunities of the relative surplus of supplier resources and the rapid popularization of clothing brand consumption. It has risen rapidly through the innovation of the front and rear cooperation mode. After the establishment of the scale advantage, especially in the context of the reshuffle of suppliers' resources and the continuous diversion of emerging channels, how to effectively adjust the product system and channel pattern smoothly to achieve the switch of growth power is the focus of the next stage of work.

In Lei Yu's view, compared with the development experience of international fast fashion brand enterprises, it is easy to see that under the background of reshaping the retail channel pattern of the whole channel, the mass positioning brand enterprises including Hai Lan home gradually enter the new stage of comprehensive efficiency competition, and the core of realizing more efficient growth is to accurately identify and efficiently meet the needs of consumers.

Reporters learned here that from the relevant research data, Hai Lan's home business is relatively stable at present, and multi brand operation strategy is advancing smoothly. In October this year, Hai Lan's sales revenue increased by about 10%. On the day of "double eleven", the sales volume of main brand of Hai Lan's household increased by 330% over the same period, exceeding 4 hundred million.

Good, more consistent with its development scale, and Hai Lan's multi brand operation strategy involves high cost performance men and women's clothing, children's clothing, light luxury, home and other brands. In the past 2 years, the fast-growing women's clothing brand AI Ju rabbit is expected to become a strong profit growth point of the Hai Lan home in the future. Through the convertible bond investment project, it mainly involves the upgrading of the whole industry chain and the brand input. Although the project does not generate direct economic benefits after the completion of the project, it can improve operational efficiency and help improve the company's performance. It is preliminarily predicted that Hai Lan's household income will reach 18 billion 275 million yuan, 20 billion 84 million yuan and 22 billion 153 million yuan in 2017-2019 years, respectively, with net profits of 3 billion 363 million yuan, 3 billion 724 million yuan and 4 billion 150 million yuan respectively. Liu Xueqing, a Fortune Securities researcher, believes that Hai LAN home company has a high inventory level in recent 2 years, but its sales rate is at a high level.

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