In 2018, The Company Achieved A Business Income Of 1 Billion 50 Million Yuan, Making A Net Profit Of 192 Million By "Costume Design".

The Guangdong Bao Bo Long Limited by Share Ltd (hereinafter referred to as "Bo Bao Long") disclosed the 2018 annual performance report in the evening of April 15th. During the reporting period, the company achieved operating income of 1 billion 50 million yuan, an increase of 24.75% over the same period, and a net profit of 192 million yuan attributable to shareholders of listed companies, an increase of 48.64% over the same period, and a basic earnings per share of 0.54 yuan / share.

The company intends to distribute the cash dividend of 1 yuan (including tax) to every shareholder in every 10 shares on the basis of 358 million shares, and increase 5 shares to 10 of every shareholder in the capital reserve fund.

Bo Bo explained that the main reason for the change in the company's performance during the reporting period is the continuous improvement of the company's R & D design capability, the enhancement of the design style development efforts, the active exploration of market customers, the increase of the cooperative viscosity with the new customers under the premise of stabilizing the existing customers, the better market sales of the design business, and the substantial increase in the design revenue during the current period. Meanwhile, the global designer's brand wholesale and retail business is progressing smoothly, and the sales channel has been actively expanded, and the sales revenue has increased substantially during the current period.

From the perspective of business structure, "organizational production" and "design" are the main sources of business revenue.

Specifically, the "organizational production" business revenue is 620 million, accounting for 60.4% of revenue.

The "design" revenue is 210 million, and the revenue ratio is 20.7%.

Wholesale and retail business revenue was 190 million, and revenue accounted for 18.9%.

From the perspective of profit contribution, the gross profit of design is the largest.

During the reporting period, the consolidated gross profit margin of enterprises was 34.5%, up 6.2 percentage points over the same period.

Among them, the gross profit contribution of "design", "organization production" and "wholesale and retail" accounted for 53%, 24.1% and 22.8% respectively.

The gross profit margins of "design", "organization production" and "wholesale and retail sale" are 90.5%, 14.1% and 42.7% respectively.

Public information shows that the company is a professional design company focusing on garment design and supporting organization and production services according to customer requirements. At the same time, with the external designers as the core link, integrating upstream resources such as accessories suppliers and garment manufacturers, the "global fashion design ecosystem" project, which is sold through O2O designer brand sales platform, buyers, showroom and other channels, is successfully implemented and has begun to take shape.

During the reporting period, business revenue comes from clothing design, organization and production business and designer brand clothing sales. Business profits mainly come from design business and organization production business.

As a professional fashion design company, the company provides a complete design service for customers, has a fashionable and fashionable design style, has won the favor of brand customers, and has established a strong design brand.

By the end of 2018, the number of internal designers was over 284, and in 2018, the number of designs was more than 11500, forming a high level of design and large-scale design capability.

The design business mode of the company is mainly the interior designer's clothing design, based on the core competitiveness of the company's own internal designer's business operation, and the accumulated experience and resources. In order to further dig out the fashion design industry, the company carries out the construction of the "global fashion design ecological circle project".

The global fashion design ecosystem project is committed to creating a fashion design platform, docking independent external designers, supply chains and various sales channels. With the smooth implementation of the "global fashion design ecosystem project", the company's main business will usher in a new round of strong growth.

First textile network reporter learned here that the company is a leading company in the field of fashion design in China.

Since its inception in 2006, the company has been focusing on the professionalization, industrialization and scale operation of the fashion design business. It has been able to provide customers with complete design services, fashionable and fashionable designs, and has won the favor of brand customers, and has established a strong design brand.

By the end of 2018, the number of interior designers was more than 284 (including clothing worldwide). In 2018, the number of designs was more than 11500, forming a high level of design and large-scale design capability.

In the past 2011-2018 years, the design service of the company has accounted for about 20% of the revenue, and the gross profit margin has remained at around 90%. Since 2017, the company has built the "clothing global" project, and the sales of online and offline channels have increased rapidly, and the proportion of wholesale and retail revenue has improved.

In the past 2014-2017 years, the composite growth rate of the company's revenue has reached 15%, and the net profit of the parent company has reached 6%, which has achieved steady growth.

Chen Yufeng, an analyst at Huatai Securities, believes that the design and service capabilities of the company have been recognized by quality customers, including PEAK, XTEP, tiger capital, and fortune more than 100.

The company maintained a stable cooperative relationship with its head customers. The top five customers contributed 490 million yuan, 410 million yuan and 480 million yuan respectively in 2015, 2016 and 2017, reflecting the brand customers' recognition of the company's design services.

The demonstration effect of quality customers helped the company expand more customer resources. The sales of the top five customers dropped from 80.9% in 2015 to 56.9% in 2017.

The design of Bai Bao Long mainly focuses on casual clothes, especially T-shirts, T-Shirts, which have a large population, large market capacity, high fashion sensitivity and changeable styles, making T-shirts have many styles and fast iteration. Customers have great demand for this kind of creative design, so it is easy to establish long-term stable cooperative relationship.

The company has created a "fast, diversified, small and fashionable" business model. It focuses on controlling the lead time and quickly organizing production, enabling customers to quickly update their products, and continuously rolling new models, replacing the traditional business model of "small quantity and quantity" with "multiple and small amount" to cater to the diversified and fashionable public needs of consumers, reducing the risk of inventory and discount promotion costs of customers.

In Chen Yufeng's view, the company has grasped the entry of "design" and provided one-stop service on the basis of the design, which significantly enhanced the efficiency of cooperation and the stickiness of customers.

In the traditional one to one design service cooperation mode, customers will intervene at the front end of the design process. Communication costs are too high and operational efficiency is not ideal.

If the customer is not satisfied with the designed works, it needs to be re amended. This will cause a lot of waste of manpower and material resources, and the customer service experience is also not ideal.

On the other hand, the design service of the company is a one-stop design service for information collection, fabric development, printing embroidery design, plate making Proofing and so on. The service is highly efficient and excellent.

The rich designer resources and modular design and management mode enable the company to have the industry's leading design capability and win high-quality brand customers.

Since 2018, the company has increased its strength in customer development, and has expanded its scope of service with its existing customers. It is expected that the design service will enter a fast growing period.

Expected 2018-2020 years, the company's design services revenue grew by 25%, 20% and 20% respectively.

At the same time, with the embodiment of scale effect, the profit margin is expected to increase steadily. The gross profit margin of design services in 2018-2020 years is expected to be 88.4%, 88.6% and 88.8% respectively.

In addition, Chen Yufeng believes that the retail and wholesale business of the company is mainly the sale of online and offline channels on the global platform. Since the beginning of the construction of the global garment platform in 2017, the number of analysts and the number of stores under the platform has increased rapidly. It is expected that the retail and wholesale revenue brought by the global platform will continue to grow rapidly. The scale effect will bring about a gradual increase in profit margins.

It is estimated that in the 2018-2020 year, the retail sales and wholesale business revenue grew by 100%, 80% and 60% respectively, and the gross margins were 44%, 45% and 46% respectively.

The plan will further enhance the ability to design and develop the front-end value chain of clothing, enhance the visibility of the design brand, and further develop in accordance with the requirements of the development strategy such as scale and specialization, improve the company's business level and scale, strengthen the core competitiveness of the company, and further enhance the position of the company in the apparel design industry.

At the same time, we should strengthen the implementation of the recruitment and investment projects, rapidly expand the scale of the company's operations, and significantly enhance the design capability.

The company will seize the opportunity of the rapid development of China's fashion design industry, integrate with its own resources, build on the established design team of over 284 people, and consolidate the development of the original internal team to serve the customers of the brand clothing enterprises. On the other hand, we should build a fashion designer's platform, focus on integrating and integrating excellent designers from both inside and outside China to provide industrial chain, capital, training and education support, and take designers as the center to integrate the participants of the industrial chain such as buyers, accessories suppliers, garment manufacturers and consumers, and form a global fashion design ecosystem with "own designer team + designer cloud platform + online and offline retail wholesale channel + Fashion Industry Supply Chain Management + star designer Incubator + designer institute".

The specific development plan is as follows:

1, open up more domestic and foreign well-known brand clothing customers.

The company has added a number of well-known brand customers, and the company will speed up the development of famous apparel brand customers based on excellent design capabilities.

2, further develop seamless garment market.

The company's IPO investment projects include the construction of seamless garment production line. The project has been put into operation. The first phase of the purchase and installation of seamless looms is 68. The sales of seamless garment products are good. It is expected that the seamless garment sales will have a high growth trend in the future.

3, further accelerate the construction of the "global fashion design ecosystem project".

The construction of the fashion design platform has solved the biggest pain point of the designer's supply chain and open shop cost. It also enables consumers to purchase the original works of global designers at a affordable price and more conveniently, meet the needs of individuation, and provide the most fashionable, personalized and cost-effective fashion design styles for clothing sales channels such as brand clothing enterprises, buyer shops, showroom and terminal consumers.

The company will further accelerate the pace of development of all aspects of the project.

4, further enhance the design ability.

We should strengthen the construction of the fashion information collection system and collect the latest and latest fashion fashion trend data, so that the popularity of the design works will keep pace with the world.

Through cooperation with Donghua University, we will jointly train design talents, strengthen exchanges and cooperation, strengthen the management of R & D team, and create a more stable, professional, and more able design and R & D team to meet the market demand.

The company has begun to increase investment in designing auxiliary equipment and software, enhance various design and drawing software and databases, and improve the efficiency and speed of the designer's design.

5, enhance the company's production facilities.

The company will upgrade and upgrade its existing production facilities in accordance with the principle of conservation and efficiency, so as to improve production efficiency and process capability and increase production capacity.

6, we should further strengthen the building of qualified personnel.

Through social recruitment, some excellent talents have been introduced, and talents have been trained through universities, scientific research institutions and internal training departments.

In order to ensure the implementation of the talent plan, the company has further perfected all kinds of post responsibilities, salary system and evaluation system, so as to arouse the enthusiasm and creativity of the staff.

7, expand the design category.

On the basis of the existing clothing categories, the company has begun to intensify the design efforts of all kinds of men's and women's fashion, children's wear styles and seamless garments, and has reached the cooperation intention with many brands.

8, expand the international market.

The company will communicate and cooperate with internationally renowned design rooms in order to provide design services for international famous brand clothing enterprises, further enhance the visibility of the company's design brand, and cooperate with them to absorb advanced international design concepts and systems.

9, efforts should be made to promote the construction of investment projects, and strive to create good business performance and give shareholders a generous return.

In 2018, while focusing on existing business, the company intensified efforts to promote the construction of fund-raising projects. At present, the "garment production line expansion project" has been completed, the project is formally put into production, and the sales of new products are better.

The infrastructure project of "global fashion design ecosystem project", "creative design center construction project" and "creative exhibition center construction project" are progressing smoothly. The company will speed up the construction of the project so as to build it into operation at an early date and generate economic benefits for the company.

The global fashion design ecosystem project is progressing smoothly.

10, use multi-channel investment and financing.

According to the actual development and financial needs of the business, the company will make use of capital, debt and other means to finance in order to meet the needs of business development under the premise of maximizing the interests of shareholders.

At the same time, companies that will speed up the implementation of the company's business development strategy and form synergy with the company's internal and external designer businesses will also examine the role of M & A in promoting the company's business in a prudent and positive manner.