The Status Quo Of Major Underwear Listed Companies In 2018

With men's clothing, women's wear, sportswear and other clothing subdivision industry entered a mature stage of slow development.

Because of its high gross margin attracts many entrepreneurs and investors in the clothing industry.

although

At present, the market concentration is relatively low, and no obvious leading enterprises have yet appeared.

Next, by analyzing the main business data of 3 companies, we can help you understand the major listed companies in the underwear industry.

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First, the scale of enterprises: urban beauty revenue ranks first in the scale, and the expansion of an Li Fang scale.

In terms of revenue scale,

The scale of revenue is far ahead, and business income is more than 2 times that of the other two enterprises.

In 2016, the scale of revenue of urban beauty and Ann Li Fang decreased, and revenue decreased by 8.9% and 12.6% compared with the same period last year. Both of them were greatly reduced by the impact of the electricity supplier, and the scale of revenue of Hui Jie shares remained stable year by year.

In the first half of 2018, the revenue of three companies increased steadily, and it is expected to increase slightly in 2018 compared with last year.

In terms of net profit, there is little difference between the 3 companies.

Again, in 2016

And the impact of the sharp reduction of the company's revenue has led to a net profit margin narrowing in 2015 compared with 2015. It began to pick up in 2017. In 2017, the net profit of the company was increased by the exchange rate and relocation costs, and exceeded the Hui Jie shares and the urban beauty.

In the first half of 2018, Hui Jie shares achieved net profit of 200 million yuan, ranking first in the industry.

From the first half of 2018, the scale of the expansion of the underwear industry enterprises, the best performance of the company, revenue growth and net profit growth ranked first.

In addition, the revenue growth rate of the 3 enterprises is relatively stable, between 10-15%, with little difference, while the net profit growth gap is obvious, and the net profit growth gap among enterprises is above 10 percentage points.

In terms of gross margin, the gross profit margin of underwear enterprises is generally high, at least above 40%.

Of the 3 listed companies,

The gross margin level is the highest, at around 80%, far higher than the 43-44% level of the urban beauty; the gross margin industry of Hui Jie shares second, but it still lags behind about 12 percentage points.

In terms of net interest rates, Hui Jie shares showed an obvious trend of increasing year by year, from 8.8% in 2015 to 17.1% in the first half of 2018, rising by 8.3 percentage points, which is now in the leading position in the industry. The net interest rate of urban beauty has not been good in recent years. After 2016 falls sharply, it is in a slow recovery stage, and is still lagging behind two other companies.

In terms of return on net assets, Hui Jie shares remained at a relatively stable level of around 10-15%, which was generally higher than that of urban beauty and Ann Li Fang. The urban beauty was generally on a downward trend; and in 2017, Ann Li Fang had a sharp increase in the impact of non recurring gains and losses, excluding the year, and ROE also showed a downward trend.

Three, operation capability: urban beauty has the fastest turnover of assets, but there is a gradual slowdown.

In terms of inventory turnover, urban beauty inventory turnover is the fastest, but there is a clear trend of variation.

In the first half of 2015-2018, the turnover rate of urban beauty inventories decreased 3.9 times to 1.2 times per year, but still far higher than that of other companies. The inventory turnover speed of Hui Jie shares and Ann Li Fang remained relatively stable, and there was a trend of increasing speed. Among them, the inventory turnover of ANN Li Fang was the slowest and the inventory turnover rate was below 1 times for a long time.

In terms of total asset turnover, urban beauty is still in the lead, but the gap between the three enterprises has been reduced.

In addition, the turnover speed of the total assets of the 3 enterprises showed a trend of slowing down obviously, which is related to the overall inventory increase of the underwear industry and the speed of asset turnover.

On the whole, the urban beauty is still in the leading position among the three listed companies, especially in terms of the scale of the enterprise's revenue. In recent years, the performance of Hui Jie shares and an Li Fang is obviously superior to that of the urban beauty in terms of profitability and operation ability, and it will catch up with the urban beauty in the net profit in the future.

It can be seen that if the urban beauty wants to continue to maintain the first position in the industry, it must constantly improve business models and enhance operational management to enhance its competitiveness.