"Women's Shoes First Share" Net Profit On Saturday, 9 Years, 7 Down 4, 774 Stores

Acquisition of new media marketing company on Saturday

Target companies look forward to network valuation 3 years skyrocketing 160 times performance spurt

"Women's shoes first share" net profit for 9 years and 7 falls on Saturday, closed 774 stores in 4 years, and the network has promised net profit of not less than 160 million yuan this year.

On the one hand is the "first leg of Chinese women's shoes" seeking pformation. One is a new media marketing company seeking curve listing. On Saturday, the "marriage" with the Internet is coming.

On the evening of August 13th, it announced on Saturday that it would buy a 89.4% stake in the remote watch network at a price of 1 billion 788 million yuan.

Nowadays, Zeng Jian's high-end business is hard to make on Saturday.

From 2009 to 2017, during the 9 years, net profit rose only on 2009 in 2009 and 2014, while net profit in the remaining 7 years fell year-on-year.

Net profit fell by 1789.31% last year.

While the acquisition of the target remote network on Saturday won 2 billion yuan "the highest value in history", but last year's revenue fell 54.86% compared to the same period last year. Whether the two "marriage" can make a new profit growth point for the two sides is still unknown.

On August 17th, the reporter called the company's securities department on Saturday.

At present, the company is targeting high-end high-end market and fashionable women crowd on Saturday. In the first three years (from 2009 to 2011), the words "high-end" and "high-end" were not mentioned in the annual report of the company.

At that time, Saturday was devoted to being a woman's fashion companion.

In 2012, Saturday's annual report first mentioned "middle and top grade".

In those days, the company acquired a 80% stake in heppu (Tianjin) Footwear Co., Ltd. with 264 million yuan, and introduced the brand of the lotus. The company's expectation for this brand is to make "the overall competitiveness of the company in the high-end fashion shoes market greatly improved".

In the 2009-2013 year, the company's chain stores expanded continuously from 1403 to 2363.

At the same time, Saturday's brand chain stores along with the department store channel sink to more two or three line cities, the company's revenue during this period has maintained growth, but in addition to 2009 net profit growth of 10.57%, in 2010 and 2013, the company's net profit decreased by 11.87%, 0.85%, 43.85% and 39.07%, respectively.

In the annual report, the company attributed the reduction of profits to the rapid expansion of the channel, and the adverse factors such as the increase in the cost of shopping malls and personnel.

The number of chain stores declined for the first time on Saturday, 2014. There were 2327 chain stores on Saturday, representing a decrease of 36 compared with the same period last year. The company's revenue also dropped by 4.68% for the first time compared with the same period last year, but its net profit increased by 5.67%.

The company said that the decline in revenue has slowed down the growth of the industry and the number of self operated stores has been reduced, but the expansion of the company's brand has contributed to the company's profits, but also made up for the lack of high-end brands.

Since then, Saturday has opened the "closing shop tide".

In 2015, 283 stores were closed, 233 were closed in 2016, and 222 were closed in 2017.

In the past 4 years, the company closed 774 chain stores on Saturday, and by the end of 2017, there were only 1589 stores, which is even lower than the level in 2010.

However, on Saturday, it failed to reproduce the growth of net profit in 2014.

In 2015 and 2016, revenue decreased by 6.60% and 9.61% respectively on Saturday, and net profit decreased by 37.32% and 7.52% respectively.

On Saturday, in 2015, it explained that the "abnormal weather" affected sales of goods. Meanwhile, the increase in channel fees and staff salaries was a "sniper" in the past ten years.

Before 2013, department stores had been the most promising sales channel on Saturday.

With the continuous development of the electricity supplier, in the first annual report on Saturday, 2013, it was proposed to strengthen cooperation with the major e-commerce platforms, so as to achieve the online extension of the major brands.

In those days, the revenue of the company's electricity business increased by 54.73% over the same period.

In 2014, the revenue of e-commerce business continued to grow on Saturday, accounting for 13.67% of the total revenue of the company. In 2015, the electricity business revenue increased to 18.41%.

Entering the year 2016, the net income of sales channels declined to 16.52%, and in 2017, the proportion of the business declined further to 12.77%.

The Taobao flagship store, which was registered on Saturday in August 19th, found that the shop had 1 million 580 thousand fans, but the sales volume of the shop was the highest, a pair of antiskid insoles. The price of the 4 pairs was 9.9 yuan, and the monthly sales 3025 pens.

In addition, the sales volume is 269 yuan higher than the rivet high heel shoes, 399 yuan sharp pointed side high heel shoes and 359 yuan thick bottom white shoes, the monthly sales volume does not exceed 300.

The most expensive products in the store are 1000 to 1799 yuan boots, and 1-3 of them are paid in some styles.

The company's twin Taobao flagship store has 458 thousand fans. The top three sales shoes are flat bottomed toe sandals, flat bottom sandals and low and shallow shoes. The price is 399 yuan, and the monthly sales volume is 110. The highest priced single product is 1299 yuan short boots, and no one pays for it this month.

On the Saturday and the sales volume of Taobao's flagship store, many customers bought "shoes are easy to wear", "just wore them for a day, drilled off", "less than a week shoelace interface disconnect" and so on.

After embracing the electricity supplier, Saturday's performance change is not obvious.

In addition to net profit growth of 5.67% in 2014, net profit in other years was lower.

Last year, Saturday's business revenue finally rose to a year-on-year growth of 1.3%, but net profit fell by 1789.31%.

The company said it was due to the company's impairment of the goodwill, inventory and accounts receivable at the end of the reporting period, resulting in the loss of large assets impairment, resulting in large losses in the reporting period.

From 2009 to 2017, in the 9 years, the net profit rose only in the 2009 annual report and 2014 in 2009, while the net profit in the remaining 7 years fell year-on-year.

Women's shoes industry's revenue declined, relying on Internet advertising to support profits.

At present, the company owns its own brands such as Saturday, Sophia, Febe Lil and so on on Saturday.

From the latest main business performance, in 2017, the brand business income of 2017 was 649 million yuan, down 2.42% from 666 million yuan in the same period last year, accounting for 1.64% of total revenue.

Another important brand, the company's revenue last year was 272 million yuan, down 18.46% from 333 million yuan a year ago, and its share of total revenue also decreased by 4.38%.

In addition, Sophia brand and the price of the brand fell sharply by 28.31% and 27.27%, and the share of total revenue also declined.

Pillar brand revenue declined sharply, what support does Saturday's performance? In 2017 annual report, the company's main business "rising star" Internet advertising revenue accounted for 9.2%, gross profit margin was also higher than clothing footwear 57.59% and 47.64% of other categories, reaching 57.59%, becoming Saturday's "most profitable" industry.

Saturday is also going farther and farther on the Internet.

In 2017, Shenzhen micro speed Warehouse Technology Supply Chain Management Co., Ltd. was established on Saturday, to undertake the existing logistics business and expand the supply chain management business. It also established Beijing olive Technology Co., Ltd. to promote the construction of the fashion IP incubator platform.

But the new subsidiary has not yet entered the profit period.

In 2017, Shenzhen micro speed technology supply chain management Co., Ltd. and Beijing olive Technology Co., Ltd. lost 1 million 292 thousand yuan and 7055 yuan respectively.

In 2017, the controlling takeover of vogue and Beijing shihin was completed on Saturday.

According to the purchase plan at that time, the main business of fashion front is to operate its Onlylady women's ambition Internet advertising platform. Beijing's main business is Shi Xin's Internet advertising platform of Kimiss girlfriends network.

The company disclosed in its 2017 annual report that it hopes to quickly cut into the female fashion information media platform with this purchase and get the traffic entrance.

The domestic consumer pformation and upgrading trend is obvious, the Internet is vigorous, and the main subsidiary brands are declining. This has become an important promoter of Saturday's pformation, and has become a prelude to Saturday's acquisition of the Internet.

The paction plan announced on Saturday August 14th pointed out that this acquisition and acquisition network can provide more diversified Internet marketing services for advertisers, enhance the income of Internet marketing business of listed companies; on the other hand, it can also make use of the advantages of the target company in technology and channel to serve the existing fashion shoes business, reduce the marketing cost of fashion shoes business, expand sales channels, and improve the company's profit level.

The network also promises that the net profit of audited 2018, 2019 and 2020 will be no less than 160 million yuan, 210 million yuan and 260 million yuan respectively.

The target company's valuation increased 160 times in 3 years, and its revenue fell 54% last year.

Similar to Saturday's desire to take advantage of the pformation, the remote network has been looking for a curve listing this year.

The remote watch network was established in November 2010. Its business includes hand travel, Internet marketing, Internet advertising and advertising agency business.

The remote network was a new three board listed company. In January of this year, the Internet application was suspended and the cards were delisted in March.

In fact, with Saturday, "hand in hand" is already the third attempt to get married this year.

In February 22nd this year, Hua Wen media announced that it would buy the remote network through the combination of cash and issue shares, but in May 16th, Hua Wen media disclosed in the announcement that the company decided not to buy a distant network stake because the parties could not reach an agreement on the relevant cooperation matters.

Half a month later, in May 30th, Hua Hua holdings disclosed the plan for restructuring the network. However, in July 12th, Huashu holdings also announced the termination of the paction because of the fact that the two parties could not agree on the relevant terms of the paction.

A month later, on Saturday announced plans to acquire a stake in the network.

When the first two failures failed, there was a voice in the market that looked at the net because of its low valuation.

This Saturday gave the highest valuation in the history of the Internet.

The paction plan disclosed that the valuation of the network on Saturday was 2 billion yuan. Before that, the distance network was valued 8 times. In March 2015, it was only worth 12 million 500 thousand yuan when it was first valued in March 2015, and its value rose to 1 billion 717 million yuan in April 2017.

In July 2017 and October, there were two equity pfers on the horizon network, with a valuation range of 1 billion 320 million yuan to 1 billion 720 million yuan.

According to the valuation given on Saturday, the valuation of the Internet has increased 160 times in 3 years.

The trading plan indicates that the profitability of the target company has been greatly improved compared with the past. Considering the factors such as the rapid development of the Internet marketing industry and performance commitment, the difference between the paction consideration and the past valuation is reasonable.

Last year, the total profit of the network was 64 million 207 thousand and 400 yuan, and the net profit was 59 million 187 thousand and 700 yuan.

In the 1-5 month of this year, the net profit reached 63 million 791 thousand and 600 yuan, exceeding the net profit of last year.

However, the business revenue of remote watch network last year was 586 million yuan, down 54.86% compared with 895 million yuan in 2016.

The paction plan did not explain the changes in the network performance.

In addition, the remote network has been prosecuted by the perfect world with another Internet company, claiming that it violated the exclusive right of the perfect world to play Jin Yong's novels, claiming 5 million yuan.

At present, the case is still under trial.