The First Three Quarters Of Outdoor Products Industry Continued To Slump, Sanfo Outdoor, Livestock And Flair Sales Earnings Fell

Overall, the domestic outdoors industry in the first three quarters of the year is not very good, and the downturn is still in the doldrums.

　 Pathfinder revenue 987 million yuan

In the month of 2019 1~9, the Pathfinder achieved 987 million yuan of operating income, down 20.55% from the same period last year, of which the main business of outdoor products realized 795 million yuan, an increase of 11.11% over the same period last year, and realized a net profit of 99 million 489 thousand and 500 yuan attributable to the listed shareholders, an increase of 293.22% over the same period last year.

For the first three quarters, the Pathfinder said that business revenue decreased by 20.55% over the same period last year, mainly because the company focused on resources to promote the development of the main business of outdoor products, and actively optimized and reduced the low profit travel service business, resulting in a substantial reduction in travel service revenue.

The main business of outdoor products increased by 11.11% over the same period last year, mainly benefiting from the gradual implementation of the strategic measures of the company focusing on outdoor products. In the first half of the year, the company disposed of some of its own properties to achieve a net profit of 36 million 252 thousand and 600 yuan after tax, which resulted in the increase of non recurring gains and losses in the first three quarters of 2019 compared with the same period last year. Meanwhile, the loss of non outdoor main businesses also decreased compared with the same period last year. The combined factors made the company's net profit 99 million 489 thousand and 500 yuan in the first three quarters of 2019, up 293.22% over the same period last year.

　　 Mu Gao Di (demand area: 80-150 square meters, has been stationed in 21 shopping centers, plans to open 15 this year) revenue of 443 million yuan

In 2019, 1~9 achieved a business income of 443 million yuan, down 3.74% from the same period last year, and realized a net profit of 42 million 465 thousand and 900 yuan attributable to the listed shareholders, down 0.19% compared to the same period last year. As of the end of September 2019, there were 367 stores in the country, including 35 Direct stores and 332 franchised stores.

The main business of OEM/ODM includes two major business segments, including tents, sleeping bags, self filling pads, outdoor clothing, shoes and accessories such as assault clothing, down garments, mountaineering shoes and sports backpacks. In the third quarter, the sales rate of Mu Gao Di was 24 million 215 thousand and 900 yuan, down 1.02% from the same period last year, and the sales income under the line was 85 million 5 thousand and 700 yuan, down 2.44% from the same period last year.

　　 Sanfo outdoor (demand area: 300-500 square meters, has been stationed in 5 shopping centers, plans to open 5 this year) revenue of 269 million yuan

In the first three quarters of 2019, Sanfo's outdoor business income was 269 million yuan, down 6.84% from the same period last year. The net profit attributable to shareholders of listed companies was 1 million 108 thousand and 300 yuan, down 46.09% from the same period last year.

In October 10th, Sanfo announced that it had invested 4 million 732 thousand and 400 yuan in its own capital to increase its 9% stake in Beijing Le en Jia Ye Sports Development Co., Ltd. The company's investment in Le Jia sports has a strong promotional effect on enriching the outdoor playground and educational content of the parent-child family. It is a powerful complement and improvement to the company's efforts to develop parent-child outdoor parks and outdoor events and group building business segments, and helps to form a deep integration and synergy effect with the existing business of the company. In October 29th, Sanfo outdoor and the people's network of people's sports cooperation to create an outdoor industrial platform, "people's outdoor" officially launched. The two sides will work together to create a series of outdoor events IP, outdoor group building activities, joint launch of people's outdoor designated product brand, youth outdoor sports experience paradise, launching China outdoor sports course and training system in the future.

　　 Outdoor products industry continues to slump

Overall, the domestic outdoors industry in the first three quarters of the year is not very good, and the downturn is still in the doldrums. Although there are more and more people who like to travel outdoors in recent years, it seems that this kind of excitement is not reflected in local outdoor products. From the performance of the 3 outdoor products listed companies such as Pathfinder, Mu Gu Di and Sanfo outdoor, it is not difficult to see the scale and trend of the development of the local outdoor products industry.

Performance of outdoor brand listed companies in the first 2019 quarters of the year three

From the operating income of the first three quarters of this year, the 3 enterprises of Pathfinder, Mu Gu Di and Sanfo outdoor have achieved a negative revenue growth in the same period. From the perspective of net profit, only the Pathfinder in the 3 enterprises has achieved a positive growth in net profit, and the growth rate has reached 293.22%. Both the earnings and net profit in the first three quarters of the two outdoor businesses of the two companies in the first three quarters of the two companies are both down.

As for the substantial increase in net profit, the Pathfinder said that the company had disposed of some of its own property in the first half of the year, and realized net income after tax 36 million 252 thousand and 600 yuan, resulting in the increase of non recurring gains and losses in the first three quarters of 2019 compared with the same period last year. Meanwhile, the loss of non outdoor main businesses also decreased compared with the same period last year, making the company's net profit in the first three quarters up 293.22% over the same period last year. However, it is noteworthy that the main business of outdoor products in the first three quarters of the Pathfinder has increased by 11.11% over the previous year, which indicates that the relevant strategic measures of the company focusing on outdoor products are gradually becoming effective.

After experiencing the golden development period of 2008 ~2012, the growth rate of outdoor products market in China has slowed down gradually, and the growth rate has been shrinking year by year since 2013. In 2018, China's total retail sales of outdoor products reached 24 billion 980 million yuan, up 2.10% from the same period last year, and the total shipment volume was 14 billion 120 million yuan, up 2.38% from the same period last year, the 7 consecutive year of decline, the lowest growth rate since 2002. At the same time, many uncertain factors continue to affect the development of the industry, the influx of foreign competitors, the emergence of new brand new products, the increasingly fierce competition in the industry.

Obviously, the domestic outdoor products industry has entered a period of deep adjustment. The focus of the competition of local outdoor products has gradually evolved from the initial production competition and price competition to the stage of channel competition and brand competition. In spite of the current situation, the performance of local outdoor enterprises is not satisfactory. But for the Chinese outdoor industry that has just entered the stage of growth and has not reached maturity, there will still be huge market potential in the future. With the continuous adjustment and transformation of local outdoor products enterprises, with the deepening of industrial expansion and upgrading, the outdoor products industry will continue to develop towards the competition of comprehensive strength and enter the stage of adjustment, transformation and upgrading.