In The First Half Of This Year, Semir's Clothing, Which Is Over 4 Billion 200 Million Of Its Stock, Is Worth 1 Billion 300 Million Of Its Stock Market. Today It Is Qiu Guang And Pledge.

Semir clothing announced in September 4th that the actual controller Qiu Guang and 117 million shares were pledged in September 3rd. The pawnbroker is China Galaxy Securities Limited by Share Ltd. The number of Pledged Shares accounts for 25.64% of the shares held by them, accounting for 4.34% of the total share capital of the company. According to the estimate of 11.71 yuan of Semir clothing closing price on the day of pledge, Qiu Guang and the stock market value of this pledge are about 1 billion 370 million yuan.


Public information shows that Qiu Guang and Semir clothing actual controller, and Semir apparel chairman. After this pledge, Qiu Guang and the total pledged 262 million shares of Semir apparel stock, accounting for 57.41% of the number of shares held by its company, accounting for 9.71% of the total share capital of the company.


In addition, Semir clothing also announced in the evening of September 3rd that the controlling shareholder of the company, Qiu Qiang, transferred to the company directors, executives Chen Xinsheng and Zhang Wei 300 thousand shares of the company's shares in block trading in September 2, 2019, totaling 600 thousand shares. The average reduction is 10.83 yuan / share, Qiu strong cash is about 6 million 498 thousand yuan.


As of September 3rd, Qiu Jianqiang completed a total reduction of 600 thousand shares in the Shenzhen stock exchange through block trading. Before the change of interest, Qiu had a strong shareholding of 13.3421%, and the shareholding ratio was 13.3199% after the change of equity. After the change of Chen Xinsheng's equity, the shareholding ratio was 0.0111%; after the change of Zhang Wei's equity, the shareholding ratio was 0.0111%.


Statistics show that Semir dress control shareholders for Qiu Guang and Qiu Guang, and his son Qiu Jianqiang, daughter-in-law Dai Zhi Yue, daughter Qiu Yanfang, son-in-law Zhou Pingfan as a concerted action, 5 per capita is the real controller.


According to the financial report, in the first half of 2019, Semir's apparel revenue reached 8 billion 220 million yuan, an increase of 48.57% over the same period last year. The net profit attributable to shareholders of listed companies was 722 million yuan, an increase of 8.2% over the same period last year. Basic earnings per share of 0.27 yuan, the company achieved net profit of 669 million yuan, an increase of 8.02% over the same period, basically in line with expectations. Kidiliz business and tables have thickened the company's revenue, and its performance has been dragged down, excluding the original main business revenue, which has increased by 21.5%, and the performance estimate has increased by about 25%.


From the perspective of business structure, "children's clothing" is the main source of business income. Specifically, "children's clothing" business income was 5 billion 210 million, revenue accounted for 63.9%, gross margin was 49.2%.


From the business sector, children's wear continues to perform well, and the growth rate of casual wear has slowed down, excluding Kidiliz business, whose main business revenue is 6 billion 673 million yuan, an increase of 21.47%. Without considering the business, the children's clothing sector continued to perform well, with revenue of 3 billion 730 million yuan, an increase of 29.98% over the previous year, accounting for about 55.89%. Leisure wear revenue reached 2 billion 944 million yuan, an increase of 12.15% over the same period last year, accounting for about 44.11%. It is expected that the single digit growth will be achieved in the two quarter, while the high base will slow down in the first quarter.


In terms of stores, the total number of Semir apparel stores in the end of 6 is about 10161, of which Semir has 9404 original businesses and 757 KIDILIZ stores. In the original business of Semir, there were 784 Direct stores and 8620 franchisees. In the first half of the year, the total area of the company's stores was basically stable compared with the end of last year. Sub channel, the first half of Semir direct, Semir joined Semir electronics and KIDILIZ revenue accounted for about 11%, 45%, 26%, 18%. After excluding KIDILIZ, Semir clothing realized revenue growth of about 21%, and electricity suppliers and franchising channels maintained a relatively fast growth rate, accounting for slower growth in the lower direct channel.


In the first half of the year, casual wear and children's clothing accounted for about 36% and 63% respectively. Among them, leisure clothing revenue grew by 12%, and KIDILIZ promoted children's clothing sales by 82%. If rejected, Semir children's clothing business revenue increased by 30%. After excluding KIDILIZ, the gross profit margin of children's clothing rose slightly in the first half of the year, and the gross profit margin of casual clothing business was basically stable.


In terms of profitability, KIDILIZ children's clothing is positioned at a higher level, with a gross profit margin of about 66% in the first half of the year, and it promotes Semir's gross margin to 6.49pct to 44.84%. KIDILIZ is also shown in the table to increase the sales cost rate by 6.78pct to 23.89% and to increase the management fee rate by 2.46pct to 6.74%. In the first half of the year, the deductible loss of the deferred income tax assets could not be recognized at 53 million 960 thousand yuan, raising the income tax and net interest rate, and the net interest rate decreased by 3.22pct to 8.67%.


In terms of inventory, Semir's clothing inventory fell 5% to 4 billion 200 million yuan in the first half of last year, and inventory improved slightly. Compared with comparable companies, the turnover rate of Semir clothing inventory decreased slightly in the end of 2018 and KIDILIZ in the four quarter, but still higher than that of the comparable company, Hai Lan's home and Taiping bird.


Zhang Junhao, an analyst with Guoxin Securities, believes that the market share of Semir apparel children's clothing Barbara continues to rank first in the domestic children's apparel industry, and its leadership is steady. In recent years, the company has acquired the French Kidliz brand, and the agent has introduced the famous American children's wear brand The Children 's Place, and actively layout baby children's clothing, stationed in maternal and child shops and other high growth channels. At present, the company's children's clothing business has achieved a comprehensive coverage of the whole category, age and consumption level, forming a complete multi brand matrix of children's clothing section. The leading position is stable. With the integration of global design resources and supply chain such as Kidliz, the competitive barrier of children's clothing is deepened. At the same time, casual clothes business is still expected to be put on the spot under the background of inventory clearing, and it is expected to maintain steady growth under the promotion of product innovation, marketing power and operational efficiency.