In The First Quarter, He Made A Net Profit Of 127 Million By Golf Costume.

The Limited by Share Ltd (hereinafter referred to as "Brevin") has issued a notice recently. It is estimated that the net profit attributable to shareholders of Listed Companies in the first quarter of 2019 will be 127 million 414 thousand and 700 yuan -13590.9 yuan, an increase of 50%-60% over the same period last year.

The reasons for the change are as follows:

1, the company always adheres to the brand development concept of "three high one new" with high quality, high quality, high technology and innovative spirit. It continuously increases R & D investment, continuously improves product competitiveness, and increases brand promotion, optimization of marketing network construction and supply chain management, so that sales performance continues to grow rapidly.

2. In 2018, the parent company was recognized by high-tech enterprises.

The industry believes that, on the one hand, Brennan's brand strength, excellent quality and extension store have brought about a high sales growth. On the other hand, in the fourth quarter of 2018, the company recognized by high-tech enterprises that the income tax was paid at a 15% preferential tax rate, and the tax reduction and improvement of performance elasticity were large. Together, the company's performance growth in the first quarter of 2019 increased by about 9.5-19.5 PCT on a high base.

According to the financial report, in 2018, the business income of the company was 1 billion 447 million yuan, an increase of 37.21% over the same period. The net profit attributable to shareholders of listed companies was 290 million yuan, up 60.98% over the same period last year.

Under the background of consumption pressure, the company's income has maintained a relatively fast growth rate, and the net profit growth rate is higher than expected. The main reason is that the company's income tax rate has been reduced to 15% by high-tech enterprises, and its net profit has increased by about 30 million yuan.

Analysis shows that sales continued to show high growth, mainly due to brand growth and endogenous growth of channel improvement.

The company continued to focus on the field of golf apparel subdivision, continued to segment the market share, and increased product design and development. According to consumer demand, the product was more marketable, with consistently consistent design and quality and advanced social recognition.

Secondly, the company increased brand promotion efforts, fashion and functional image of dual drive, brand awareness effectively improved.

On the channel, in 2018, the whole shop opened faster than that of UF, increasing the proportion of boutiques and large experience shops, attracting tourists and improving shopping experience, increasing conversion rate and boosting the same store growth.

At the end of the year, the number of stores is expected to exceed 700, and the same store will grow by 20%+, providing the growth initiative. The extension of growth is expected to exceed 10%.

Sun Yu, an analyst with China Merchants Securities, believes that the international planning and development capabilities and sound VIP services have built up good endogenous growth strength, while the layout of various formats that are directly affiliated to them has become the core of competitive competitiveness.

1) pay attention to R & D input, international planning and design capabilities, and enhance product strength.

She has been a famous designer in Europe and Korea for a long time, and has a stable product continuity.

At the same time, the fabric development, plate design and processing level have been greatly improved. GORE, POLARTEC, CANCLINI, Yi Du Jin, Japan Dongli and other overseas renowned accessories suppliers have been collaborate.

2), in the first quarter, the growth of operating income in 2019 is between 20-30%, mainly endogenous.

Though it is in the high-end market, single brand or series of development space is limited, but the company uses multi series layout, under the support of high quality product and perfect VIP service, it estimates that the growth rate of three old golf, life and fashion stores in 2018 is about 20%, and the same store growth rate in the first quarter of 2019 is still expected to remain 15%-20%.

In terms of denotation, there were 100 stores to 750 stores in Venice in 2018, an increase of over 15%, of which three of the original three stores opened around 70 stores, and 30 new stores opened in the new brand.

In the early days of 2018, brin advanced a brand new tourism holiday brand CARNAVALDEVENISE (Venice), which meets the core needs of the four major users of functionality, photo effects, family outfits and fashion. The price is lower than the original product range by 40% and the price performance is higher than that of the original product range.

The channel is mainly located in shopping centers and high-end department stores, which independently open stores on the strength of the original channel. It is estimated that the market has been opened to 30 by the end of 18. The main business is still hatching. After the operation of the single store is improved, the franchisee is properly introduced and is expected to enter the main expansion period in 2020.

In the eyes of Sun Yu, it has positioned high-end golf apparel in recent years. In recent years, with the help of international planning and design capabilities, through its cooperation with overseas brands and high quality accessories suppliers, the company has used four major products, including golf, life, leisure, fashion, leisure and tourism holidays, to cover the whole category of men's, women's and children's wear, and compete with traditional casual wear brands.

Under the background of consumption upgrading, brand players are expected to create high-quality differentially tonal tickets to enter the high-end market.

At present, the development capability of the company's commodity terminal is strong, and it has the foundation to expand the high-end market.

At the same time, under the condition of continuous strengthening of direct construction, the foundation of the same store operation is solid, and the VIP management system is relatively perfect.

According to public information, biblfin is a leading domestic high-end golf apparel company. The company has been deep tillage for more than ten years. Based on professional golf costumes, the golf culture is integrated into the design of casual clothes, providing a high-end leisure apparel brand integrating the golf "sunshine, health and gentry" cultural elements for the target customers.

Its own brand is positioned in the high-end leisure market, which includes three major categories: fashion, life and professional golf, covering all categories of men, women and children's clothing.

Compared with the mass leisure market, the location of the market is different from that of the mass leisure market. The positioning population is a mature male and female with a certain ability to consume. The general age is larger than that of the mass casual wear consumers, and the consumption ability is higher. The recognition and stickiness of the brand are larger than that of the public casual wear.