Pathfinder: How Can "Pathfinder" Go Out Of The Suspension Crisis?

On the evening of February 27th, the Pathfinder issued a quick report that it expects to achieve a net profit of 110 million yuan in the year 2019, an increase of 160.55% over the same period last year and a turnaround in profits. The total operating income was 1 billion 506 million yuan, a decrease of 24.41% compared with the same period last year. Since 2017 and 2018, the large amount of goodwill, investment and asset impairment has been increased, and even after a continuous loss of mire, the Pathfinder in 2019 was once in the crisis of suspension and delisting.

After returning to the main industry and focusing on outdoor product strategy, the Pathfinder stopped the loss trend in 2019, and the risk of delisting was temporarily alleviated. However, the outdoor products industry is inevitably affected by the epidemic.

　　 Income decline and profits soar

According to the earnings report, the total business income of Pathfinder in 2019 dropped by 24.41% over the same period last year. The reason is that the company actively optimizes its business structure and gradually withdraws from the low profit travel service business and related investment projects, resulting in a sharp decrease in travel service revenue.

As early as 2013 to 2016, Pathfinder put forward the strategy of coordinated development of outdoor products, travel service and sports three major businesses, and invested in green field network, map Road, easy to travel world and other targets. However, due to the failure of investment expectations, the Pathfinder revenue fell 24.42% in 2016, and net profit fell by 37.13% over the same period last year. In 2017, the Pathfinder lost its first loss after listing, reaching 85 million yuan, and the loss in 2018 further expanded to 182 million yuan.

In 2019, the total profits and profits of Pathfinder increased substantially compared with the same period last year. The net profit attributable to shareholders of listed companies is estimated at 110 million 157 thousand and 400 yuan, an increase of 160.55% over the same period last year. It is understood that this is because the Pathfinder focuses on the development of the main business of outdoor products and improves the profitability of business operations. Compared with the same period last year, the risk of company related investment and asset impairment has been greatly reduced.

"In 2020, the company will continue to focus its resources on promoting the long-term and healthy development of the outdoor products industry, and continue to tap the development space of the outdoor sports market both at home and abroad," he said to reporters of the China times. The company is developing steadily.

According to the performance report of the Pathfinder, the non recurring gains and losses in the reporting period increased a bit from the same period last year. The non recurring gains and losses in 2019 were estimated to be about 84 million yuan, compared with 31 million 30 thousand yuan in the same period last year. The Pathfinder continues to enhance the competitiveness of the main products of outdoor products, enhances the influence of brand culture and brand spirit on users, optimizes the structure of online and offline sales channels, and actively improves the efficiency of operation and management, and the overall expenditure is reduced compared with the same period last year.

"2019 is the key year for Pathfinder. If we can not make profits, we will be ST. Profits are normal and we must make profits. Pathfinder has been doing outdoor outdoor capital layout after listing. In fact, it failed. Instead, it did not invest too much in the main industry, which led to the high quality of the explorer in the outdoor market, but the high quality was not the international brand, but the middle and low quality was not the online brand. Cheng Weixiong, founder of textile and clothing brand management and Shanghai Liang Qi Brand Management Co., Ltd., said in an interview with the China Times reporter.

　　 Return to the main business

Pathfinder is an old outdoors business, founded in 1999 and listed in 2009. In the 5 years after that, annual revenue growth was above 30%. By 2015, it was 121.99%, and it also set a record of 3 billion 808 million yuan. This is also one of the reasons for Pathfinder to take the road of M & A expansion in the future.

After announcing the return to the main business in 2017, Pathfinder began to gradually reduce costs, promote store efficiency, close inefficient stores, and optimize store layout and channel structure. In 2019, Pathfinder added new business centers such as Beijing Sheng Sheng Hui, Beijing hi long and Tianjin gold coin to build benchmarking shops. As of the first half of 2019, the total number of shops under the TOREAD route was 1153, and the total number of shops under the Discovery Expedition brand line was 161, and the total number of shops under the TOREADKIDS line of the Pathfinder children's clothing store was 39.

Cheng Weixiong analyzed that when the Pathfinder announced his return to the main industry, he still had little to do on the outdoor product line. Still need to increase the precise positioning of the brand, the precise positioning of the product more efforts, marketing promotion instead needs more pragmatism and product combination, around the outdoor market demand, Pathfinder ground gas has room for growth. He said: "in the first half of this year, outdoors and all industries in the country are affected by the epidemic very much, but it is expected that the outdoor industry recovery is inevitable after the end of the epidemic, and the initiative of users' outdoor sports will be further increased and popularized."

According to the reporter, after the outbreak of the new crown pneumonia, the Pathfinder started the full online office in February 5th, and made full use of the new marketing tools such as WeChat applet, jitter and the resources of the three party platform, such as Tmall, to strengthen the live marketing and other ways to reach consumers and promote the development of online business. In addition, Pathfinder is also engaged in R & D and production supply of protective products such as protective caps, non medical protective clothing and other related products, as well as the donation of related products and the expansion of production and supply.

For the Pathfinder, the competition in outdoor products industry is becoming more and more intense, especially the Winter Olympic Games to be held in 2022, which is an opportunity for major sports brands. At present, Anta and Lining both have their own layout in related industries. Anta successfully acquired amamin sports in March 2019, which has many internationally famous sports outdoor sports brands.

"The company attaches great importance to the good development opportunities brought to the outdoor and related industries by the 2022 Winter Olympic Games, and has made meticulous planning and preparation, such as strengthening the research and development of related products, promoting and promoting, and participating in it as a joint implementation of the key technology of Winter Olympics and key technologies in the winter sports and training competition. After further planning, please pay attention to the company's official website news and official announcement. Pathfinder related personnel told the China Times reporter.

However, in Cheng Weixiong's view, although the Winter Olympic Games are beneficial to the promotion of outdoor skiing products series, skiing is still a high-end sport in China. It has been associated with the growth of skiing places and skiing users for quite a long time. Apart from Pathfinder, Anta and Lining should be the leading brands in the field of skiing. Fan.