How To Develop Low Performing Birds?

In recent years, under the condition of sustained downturn in performance, you want to diversify through cross-border development, but with little effect.

The Chinese sports market has made the birds more confused, making great efforts in pition and cross-border, but still stagnating and even regressive.

Since June 14th, the price of expensive birds has been trading down for 8 successive trading days. As of the closing of June 28th, the precious birds have not stopped the downward trend.

As of the close of the day, the total decline has reached 62%, and the market value has evaporated about 10 billion yuan.

And in some

Analysts and experts believe that although the price of the bird has been affected by the whole market, there are many problems in the management level of the company, which is related to the poor pformation of the birds.

In recent years, great birds have been trying to cross border pformation.

A number of interviewed experts told times weekly reporters that there were capital factors in the company's stock price dropping. In the final analysis, there were problems in the operation of the company.

In recent years, under the condition of sustained downturn in performance, you want to diversify through cross-border development, but with little effect.

For the issue of continuous stock market decline and diversified pformation, the times weekly reporter sent a telegram to the "noble birds and birds" side to interview the letter. The representative of the company's securities affairs replied that at present the company's operation is normal and its strategy has not changed. Other listed companies' periodic reports and provisional announcements shall prevail.

The stock price suffered a series of decline.

In June 14th, short selling agency GMT Research issued a short report, claiming that 16 sporting goods listed companies such as Anta and XTEP were suspected of fraud.

Affected by this, domestic sporting goods shares in Jinjiang are collectively low.

However, after a number of sporting goods listed companies rose, but the price of expensive birds has been down.

As of June 29th, the price of the precious bird rose slightly, but from the highest price of 28.40 yuan / share in June 14th to 10.52 yuan / share at the end of June 29th, the market value has evaporated over ten billion yuan.

Why did the stock market continue to decline? When the industry analyzed that, the proportion of large shareholders' equity pledge was higher, and there was a liquidation crisis in the continuous decline of stock prices. In addition, it was not possible to exclude market speculation.

However, in the view of Jiang Han, an expert in upstream financial and economic consultancy, the decline of the price of expensive bird shares is related to the management level. He thinks there is a problem at the operational level.

"The main reason is the serious lag of the development of the whole business."

Jiang Han said.

Before this round of collapse, there are many questions about the price of expensive bird.

Since last year, its share price has risen by more than 70% from around 16.4 yuan, until its high level in June.

At the same time, your achievements are not impressive.

In fact, the net profit of the noble bird has been declining for two consecutive years.

In 2016, the company achieved a business income of 2 billion 279 million yuan, an increase of 15.74% over the same period last year, and realized a net profit of 293 million yuan attributable to shareholders of listed companies, down 11.81% from the same period last year.

In 2017, the company achieved a business income of 3 billion 252 million yuan, an increase of 42.70% over the same period last year, and realized a net profit of 157 million yuan attributable to shareholders of listed companies, down 46.25% from the same period last year.

"Generally speaking, the price of the bird is not in line with its operation in recent years."

Song Qinghui, a famous economist, told the times weekly reporter that "the root of the problem may not be related to the main business."

In recent years, the great bird has been involved in insurance, games and other fields, and gradually lost its main business.

While the performance did not achieve substantial growth, frequent bird shops were also attracting attention from the market.

According to its 2017 annual report, in 2017, the new bird retailer opened 503 terminal stores, closed 879 retail terminals, and closed 376 stores, which is equivalent to closing one store a day on average.

The tide of shop closing is still at an end.

According to the latest quarterly report, there are 78 new retail outlets, 133 retail outlets and 55 closed.

The house is leaking for a rainy night.

In June 25th, the Fujian Securities Regulatory Commission issued an administrative penalty decision on the official website to punish insider trading in the process of the acquisition of Wellcome fitness.

According to the punishment book, Huang Hao Yun, a shareholder of Hai Yue Rong investment management center, as a person familiar with the matter, bought a bird of 382 thousand and 400 yuan in the sensitive period of insider information, and eventually lost 90 thousand yuan. The Fujian Securities Regulatory Commission fined him 100 thousand yuan.

Behind the punishment of the "noble bird" is its continuous action of cross-border acquisition and diversified pformation in recent years under the condition of poor performance.

The noble bird was founded in 1987 and was born in the famous shoe capital Jinjiang, Fujian.

Like Anta, XTEP, 331, PEAK, Hongxing and other popular sports brands, the bird has also experienced a glorious period.

Not out of date, Anta has gradually won the advantage in the competition with another big domestic brand, Lining. It is now the first place to sit in the first place, while the XTEP and 331 degree brands in the second echelon are also keeping the chasing of the former.

Although there are no such brands as del Hui and Xi Dalong, they are at risk of falling behind at any time.

In 2014, you were listed in China.

In the view of garment analyst Ma Gang, the birds have never entered the first and second echelons since their birth, and have been in the third or fourth tier. The gap between the one or two tier and the product and brand influence has been very obvious.

"If it were not listed at home, it might have gone bankrupt."

Ma Gang told times weekly reporter.

Transformation has become the survival path of noble birds.

"The competition for domestic sporting goods is very fierce. It is hard for you to make big breakthroughs in this field.

It takes advantage of the opportunity of listing and carries out diversified pformation through capital operation, which is an overall plan for its strategy.

Ma Gang said.

Since 2014, the birds have begun to pform and upgrade.

The goal of sports industrialization group based on product manufacturing and coordinated development of various sports industries.

In early 2015, the company announced that the company became the second largest shareholder of tiger sports.

In July of the same year, it set up capital of mobile capital combined with tiger sports and Jing Lin capital, and invested 30.77% euros in The Best Of You Sports, S.A, through its subsidiary 20 million euros.

In 2016, the precious birds invested in the Spanish football brokerage company and bought the US basketball equipment brand AND1 in the Greater China region for 31 years, exclusive operation rights, under the holding line, the retail channel merchants' trip and the famous shoe Library Network Technology Co., Ltd.

You also try to extend your tentacles to the field of sports insurance.

In April 2016, the noble bird announced the registered annex insurance brokerage company. However, the company was suddenly canceled by lightning after 8 months, because it is a foreign-owned company.

But the birds are not discouraged.

In December of the same year, Xinjiang announced that it was planning to establish Ankang insurance with 7 companies such as Guanghui Industrial Investment Co., Ltd. and Hong Kong Group.

Besides, you also want to enter the fitness industry.

In March last year, the precious bird tried to buy a 100% stake in Wellcome fitness (Welsh fitness company) at a high price of 2 billion 700 million yuan, but the deal ended in September.

At this point, you have initially formed a diversified layout involving sporting goods, business, retail, insurance, games and so on.

However, from now on, there is little effect of pformation measures.

Jiang Han believes that the "birds of a bird" enter the field that they are not good at, leading to the pformation is not ideal.

"The degree of correlation between these diversified businesses is not large, and there is no way to form synergy. Instead, they may lead to mutual elbows and influence the development of other businesses.

At the same time, these businesses occupy a larger part of the funds of the group, which is irrational for the long-term development of enterprises.

Jiang Han analyzed.

Song Qinghui said that from the point of view of management and investment, the crossover of birds and birds is more harmful than profits.

In recent years, under the background of macroeconomic slowdown and industrial pformation and upgrading, many listed companies have been seeking cross-border pformation through acquisitions to form a "double main business" or "double main industry" structural mode. The purpose of cross-border development of listed companies is generally to create new profit growth points for companies, while reducing the risk of relying on single business.

At present, however, after the cross-border pformation of these listed companies, the development mode of development is generally poor.

Therefore, investors should also be vigilant against the cross-border listed companies.

Earlier, some experts interviewed said that the domestic sporting goods enterprises had already established the pattern and increased competition.

The shuffle is coming.

This will mean that the road of pformation is far more difficult than imagined.