In The Three Quarter, The Company Lost 23 Million Of Its Losses, Or Reduced Its Holdings By More Than 10 Million.

002875.SZ, known as "the first pack of children's clothing", broke out this year.

Statistics show that he was founded in 2001 and landed in Shenzhen's small and medium sized boards in 2017. However, since the listing, the company's inventory problem has always been criticized.

At the end of the three quarter of 2017, the book value of -2019 was 297 million yuan, 428 million yuan and 509 million yuan, respectively, accounting for 27.33%, 34.60% and 42.94% of the total assets of the same period.

In the third quarter of this year, he suffered the first loss in the first quarter of this year. Data show that in the third quarter of this year, he lost 23 million 198 thousand and 300 yuan in net profit, resulting in a net profit of only 33 million 99 thousand and 500 yuan in the first three quarters and a decrease of 42.29% over the same period last year.

In December 30th, he announced that the company received a government subsidy of 11 million 620 thousand and 700 yuan. However, even with government subsidies, if we want to achieve net profit of 83 million last year, it means that we will achieve net profit of nearly 40 million yuan in the fourth quarter.

Or affected by this, Dong Jiangao launched the two reduction plan in the year, if the second reduction is completed, according to the closing price of 30 days afternoon 15.35 yuan / share, the company Dong Jiangao will reduce its holdings by more than 11 million yuan through two times.

Inventory accounts for 42.94% of total assets.

According to public information, it was founded in 2001, and is a private brand clothing enterprise in the middle and high end children's clothing business. It owns the brand "Annil angel" children's wear brand and landed in Shenzhen small and medium-sized board in 2017. However, in the year of listing, the performance has changed. Data show that in 2017, he realized net profit of 68 million 869 thousand and 800 yuan, down 12.95% compared to the same period last year.

Although the company official explained that the decline in the performance of the company on the year of listing was due to the decrease in the number of franchised stores, resulting in a decrease in offline revenue. At the same time, the company was authorized by Disney's "Star Wars" and "ice and snow adventure" series in the year of listing, and the advertising promotion fee rose, which affected the performance. However, insiders also pointed out that his performance was greatly affected by his inventory.

Changjiang Commercial Daily reporter found that since listing, the problem of inventory has been more serious. Data show that in 2017 -2018, the book value of the company's inventory was 297 million yuan and 428 million yuan respectively, accounting for 27.33% and 34.60% of the total assets in that year respectively. In the company's inventory, inventory accounts for a relatively heavy proportion, accounting for 67.78% and 79.87% respectively.

A large number of inventory products bring greater business pressure to the company. In the first half of this year, the consolidated gross profit margin of the company was 54.92%, down 3.21% compared with the same period last year, and the provision for inventory depreciation was 45 million 877 thousand and 900 yuan, accounting for 10.36% of the inventory balance.

Since the end of the three quarter, inventories of 509 million yuan, accounting for 42.94% of total assets, have also increased by 28.21% over the 397 million quarter of the second quarter. Affected by this, the company lost 23 million 198 thousand and 300 yuan in the third quarter, directly leading to the company's first three quarters net profit fell 42.29% to 33 million 99 thousand and 500 yuan.

In December 30th, he announced that the company received a government subsidy of 11 million 620 thousand and 700 yuan. As of the date of the announcement, the company received a government subsidy of 20 million 951 thousand yuan during the year, accounting for 25.13% of the audited net profit of the company in the latest accounting year. However, even with government subsidies, if we want to achieve net profit of 83 million last year, it means that we will achieve net profit of nearly 40 million yuan in the fourth quarter.

Dong Jian lowered again during the year.

Changjiang Daily reporter found that the change of his inventory or related to frequent changes in stores.

Combing its recent financial results, we found that in the past few years, the company has changed a lot. In the first half of 2017, the company added 202 stores, 211 stores and 136 stores, and closed 225 stores, 213 stores and 110 stores in the first half of -2019. By the end of the first half of this year, the number of stores was 1459, a decrease of 7 from 1466 in 2016. Frequent shop closes will not only increase sales costs, but also lead to a continuous increase in inventory.

In this regard, he said in his earnings report that the company's initiative is to actively adjust the store structure, expand the shopping center shops, and close down the shops with poor performance, and cater to the rapid development trend of the shopping center's business format, and speed up the transformation of sales channels under the line.

However, when Dong Jiangao's business was beset by many factors, the company's news was constantly reduced. In May 14th this year, he announced that directors of the company, Long Yan, Xiao Yan, deputy general manager Wang Yi Peng, and Secretary of the board of directors, Chiang Chun Chun, sent a letter of reduction to the company, indicating that the total number of shares held by the company would be reduced by less than 43 thousand and 700 shares. As of June 20th, the implementation of the reduction plan was completed, and 4 directors and supervisors had a total cash of 888 thousand and 300 yuan.

The reduction was completed only 5 months later. The company's director and deputy general manager Long Yan, supervisor Wang Jianguo, Cheng Shuxia, Xiao Yan and deputy general manager Wang Yipeng will reduce shares to a total of no more than 680 thousand shares, accounting for 0.52% of the total share capital of the company. According to the closing price of 15.35 yuan / share in December 30th, if the reduction is completed, 5 directors of the company will cash 10 million 438 thousand yuan. Dong Jiangao, the two time this year, will be reduced by more than 11 million yuan.