Where Is The Direction Of IPO Financing For Clothing Sub Shares?

According to the world clothing shoes and hats net, year-end inventory and summary are also coming at the end of the year.

Recently, there is a review of the scale of financing in the capital market. It is said that 2017 will be the year of IPO financing.

According to statistics, as of December 13th, a total of 418 companies completed IPO in the year to December 13th, raising the scale of funds to 217 billion 200 million, an increase of 33% over last year, while the number of IPO enterprises completed in 2014, 2015, 2016 three years was 125, 224 and 248, respectively.

Data show that IPO financing in 2017 is the peak in nearly 5 years.

Along with this topic, let's take a look back at this IPO financing year.

How many companies have successfully landed in the A share market this year? According to combing, as of December 15th, a total of 8 (excluding)

Industry, including Taiping bird listed in early January, and successfully landed on A shares in late November.

From the perspective of market capitalization and financing, we will comment on the following characteristics of this year's apparel enterprises, and we will find some interesting things from it.

As of December 15th, the market value of the 8 apparel companies listed in addition to

Market capitalization has exceeded 12 billion, and market value has not been broken.

In the 7 enterprises that failed to break billions of dollars, La Natsu Bell had the highest market value of about 8 billion 490 million, followed by the "shoes shoes" starting stock, with a market capitalization of about 6 billion 930 million (as of December 15th closing price).

In these 8 IPO clothing enterprises, La Natsu Bell shares listed on the mainland and Hongkong have the highest scale of revenue, followed by the A+H.

In the first three quarters of this year, Taiping bird's revenue was 4 billion 313 million yuan, and its net profit was 170 million yuan, while La Natsu Bell's first three quarter revenue was 6 billion 232 million yuan, and its net profit was 340 million yuan.

Both belong to the public fashion casual women's clothing enterprises.

But is Taiping bird the highest market value of IPO clothing in 2017? Nor is it.

The market value of Jingyuan international listed in Hong Kong has exceeded HK $20 billion this year, with a specific market value of HK $21 billion 880 million (the closing price of Hong Kong shares in December 15th).

Jingyuan international is a garment manufacturing company. Its OEM customers include UNIQLO, H&M, Marsha, Victoria, Gap and other international casual wear brand.

In fact, it is not only the market value of Jingyuan international market, but also a comprehensive survey of the apparel industry listed on A shares and Hong Kong stocks. The largest company in the market is also a foundry enterprise, which is Shenzhou International.

Shenzhou International is the only clothing company with a market value of 100 billion, and its market value is about HK $106 billion 950 million.

The apparel retailing industry has not yet had a company with a market value of over 100 billion. The closest thing is Anta sports, which has a market capitalization of about HK $89 billion 660 million.

It is noteworthy that Shenzhou International, Anta sports and Jingyuan international "market capitalization" are closely related to a subdivision industry, that is, sports and leisure apparel industry.

Anta sports does not need to say that Shenzhou International 2016 sports clothing, casual wear and underwear income accounted for 65%, 25.7%, 8.6%, respectively, the company's four major customers UNIQLO, NIKE, ADIDAS and PUMA revenue accounted for more than 80% of the total revenue, four of these customers are sportswear or casual wear enterprises.

Jingyuan international bought the sportswear manufacturer Vista in 2016 for $190 million. Vista's main customers include Under Armour, Puma, The North Face and other sports and outdoor apparel retail enterprises. In 2017, the proportion of international sports and outdoor clothing revenue reached 9.6%.

It can be considered that there are several factors that affect the market performance of garment enterprises. One is the subdivision industry or business of the enterprise itself, and the growth of the subdivision industry or business will give investors a higher look at the business.

For example, the above mentioned Hong Kong stocks involve sports and leisure clothing industry, such as the concept of A share business, the concept of baby, etc., the other is the scale and management level of the enterprise, which will decide the monopoly degree of the enterprise in the future. Another factor is the environment of the capital market.

For example, at present, the market share of A shares, which is the highest priced clothing company, has been one step away from the market value of 100 billion, but it was in the period when someone shouted "the 5000 point of the stock market is not a dream".

Another interesting phenomenon is that Shenzhou International, Anta sports and Jingyuan international are the Hong Kong stock enterprises with higher market value. The BELLE international market, which just retired soon, has also broken through HK $150 billion in the glorious period.

But at the same time, Hong Kong stocks also have many "penny stocks", or their market capitalization is very low or their share price is very low.

That is to say, the head effect or the Matthew effect of Hong Kong stock is more obvious.

This phenomenon is fully manifested in several clothing enterprises listed in Hong Kong this year.

In addition to Jingyuan international, there are two clothing related enterprises listed on the Hong Kong Stock Exchange gem this year. They are clothing supply chain service providers "Shang Jie Group Holdings" and plastic functional underwear retailers "patbie". Their current market capitalization is HK $240 million and HK $120 million respectively, and is about twenty billion times the market value of Jingyuan international.

In contrast, the market value of clothing A shares is relatively average. A direct reason is that the A share IPO issue is audited, with the default issuing price earnings ratio restriction. Basically, when the scale of the enterprise is not too far away, basically everyone is at the same level. In the future, whether the market value should be distanced or counterattacked can occupy the "head" of the head effect, it depends on the management level of the enterprise and the "future" of the enterprise.

After discussing the performance of market capitalization, we turn to the main theme of capital market: financing.

Clothing sub shares are in different sub sectors. Are there any common points in the financing direction and fund-raising plan when they are listed?

Let's first take a look at the subdivision industry of the 8 new shares. Among them, Taiping bird, La Natsu Bell, an Zheng fashion and Japanese fashion are women's clothing enterprises. More specifically, Taiping bird and La Natsu Bell can be categorized as public fashion casual women's clothing enterprises.

The remaining 4 enterprises, the company's initial shares are children's clothing, and the remaining two new stocks are the outdoor products and the home textile industry.

We took the largest number of women's wear new shares as observation entries.

First look at Pacific bird and La Natsu Bell.

Prospectus shows that Taiping bird plan to raise net capital of about 1 billion 81 million yuan, the investment fund will be mainly used for marketing network construction, Taiping bird East clothing finishing distribution logistics center and information system construction.

La Natsu Bell plans to raise 405 million yuan for retail expansion projects and new retail information system construction projects.

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Looking at the fund-raising direction of the two enterprises, we can find common ground.

First, the first common ground is to open stores and strengthen the construction of marketing network.

La Natsu Bell plans to open about 3000 retail outlets in the next three years, including 2094 new outlets and 906 new direct outlets, while Taiping bird plans to open 238 new outlets.

Another common point is the construction of information system.

A main purpose of this project is to raise the level of supply chain management, including the Taiping bird plan to raise capital for new logistics centers, and also the infrastructure construction of supply chain.

The supply chain management level is a core competitiveness for the apparel retail enterprises.

It is a financing direction for the capital market to expand the scale of new store outlets and raise the level of supply chain management and develop "all channels".

Let's take a look at the positive fashion and the daily fashion.

As for women's clothing enterprises, there is also the content of the opening and information construction and supply chain center.

An Zheng fashion program optimizes 117 stores and opens up 179 new outlets, mainly located in a second tier city. The daily fashion program is set up for 209 new outlets in 32 second tier cities in the next three years.

To tell the difference, La Natsu Bell and Taiping bird want to go straight to the 234 tier cities, while the positive fashion and the daily fashion are more to occupy the store resources of the second tier cities.

More open outlets, improve the control of physical channels, while increasing the supply chain resources input, development of online and offline integration channel mode, this should be listed on the list of several women's clothing enterprises joint fund-raising plan.

But before the end of the talks, the fund-raising plan of the two high-end women's clothing brands in the fashion of fashion and fashion is the biggest difference between La Natsu Bell and Taiping bird's two fashion women's casual wear enterprises.

An Zheng fashion plans to invest 24 million 590 thousand yuan in this investment, while it plans to invest 122 million yuan in the daily fashion.

This actually points to a word: "brand" and "brand building".

This highlights the two different development orientation of women's clothing enterprises: Taking the brand as the precursor or the supply chain as the precursor.

Along with the fund-raising direction of women's clothing enterprises, let's take a look at the fund-raising contents of the other 4 clothing sub shares.

Like women's clothing enterprises, scale expansion is the common theme of apparel enterprises, and there are marketing network construction projects in initial shares, Ann nears, Mu Gaodi and mercury home textile fundraising schemes.

Another common theme is information construction projects, which is also related to supply chain management.

In addition to these two, there is a common fund-raising plan is O2O online and offline channel construction projects.

The investment plan of Mu Gao Di invested 23 million 810 thousand yuan to invest in the O2O management system and information construction project of the company. The initial shares are planned to invest 139 million yuan in the whole channel O2O platform construction project. The mercury home textile is planning to raise 114 million yuan to invest in online and offline channel integration and direct channel construction projects.

Thus, with the rapid development of the electricity business, the "all channel" construction has become a new regular theme of the clothing enterprise financing plan.

Many stores open more direct stores, supply chains, and "all channels". This is the common keyword that this year's clothing sub shares are presented to the capital market for fund-raising financing at IPO.

Of course, the plan is planned, there are also saying that plan is not as fast as change, but at least we can see some trends in the future development of the clothing industry.

An obvious fact is that the expansion of scale is still the absolute theme of clothing enterprises. On the other hand, we can also see that technology is changing the development mode of fashion industry profoundly. E-commerce, O2O, information construction and supply chain pformation, including the change of manufacturing process and the emergence of intelligent products, can be attributed to the pformation of technology.

And capital is playing an amplifier role in technology and fashion. For a garment enterprise on the capital platform, if a company can make good use of capital, technology and fashion force, it will be effective to combine the three effectively to promote the rapid development of the enterprise.

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