Under The Epidemic Situation By Private Domain Traffic Precision Marketing! Biyinlefen'S Net Profit In The First Half Of The Year Was 161 Million, Exceeding The Expected Recovery

Biyinlefen Clothing Co., Ltd. (hereinafter referred to as "biyinlefen"), the first share of China's golf apparel, released its performance express in the first half of 2020 on July 23. During the reporting period, the company realized a revenue of 766 million yuan, a year-on-year decrease of 9.36%; and the net profit attributable to the parent company was 161 million yuan, a year-on-year decrease of 7.25%.

As of the end of the report, the total assets of lefin increased by RMB 3.8 billion.

Regarding the reasons for the performance changes during the reporting period, biyinlefen explained that: during the reporting period, the company took positive measures to deal with the impact of the epidemic, accelerated the construction of new retail and established private traffic, and the sales volume of new retail and e-commerce increased significantly; in addition, the company optimized the operation management and sales channels, and strictly controlled the sales discount and expenses, which made the company's operating profit larger Growth.

According to MI Hanjie, an analyst with GF Securities, biyinlefen's single quarter operating revenue, operating profit, total profit and net profit attributable to its parent company in the second quarter were 400 million yuan, 79 million yuan, 77 million yuan and 64 million yuan, respectively, with a year-on-year increase of 7.03%, 54.68%, 51.78% and 45.92% respectively. The growth rate of biyinlefen was significantly higher than that of the first quarter, mainly due to the high prosperity of the sports industry and the small impact of the epidemic on high-end consumption With the improvement of domestic epidemic situation, the company's operation has accelerated to pick up. In addition, the company has continuously optimized its operation management and sales channels, strictly controlled sales discounts and expenses, so that the growth of operating profit is higher than that of operating income.

Although affected by the domestic epidemic situation in the first quarter of this year, biyinlefen took active measures to speed up the construction of new retail, establish private domain flow, and achieve precision marketing. The overall performance is better than that of the industry. The financial report shows that in the first quarter of this year, the operating income, operating profit, total profit and net profit attributable to parent company of biyinlefen decreased by 22.34%, 25.64% and 25.41% respectively year-on-year 27%.

Industry insiders also believe that biyinlefen's performance shows a recovery momentum beyond expectations. Ma Li, a researcher at Zhejiang securities, said that although offline passenger flow has been limited since February, new retail sales opportunities have been fully developed. Biyinlefen wakes up sleepy VIP through private traffic operation and continues to pull new stores. It also arranges new retail through information transformation and strategic cooperation with Tencent, which has driven the sales momentum of spring and summer products represented by the Palace Museum Culture series As of the second quarter, except for airport stores, retail sales in other channels had a good recovery momentum, driving the growth rate of revenue back to 7% in the second quarter;

Mi Hanjie judged that biyinlefen's future performance will continue to grow rapidly. From the analysis, firstly, the prosperity of sports industry is high, biyinlefen, as the leader of domestic golf apparel, has obvious track advantages; secondly, the epidemic situation accelerates the industry reshuffle, which helps the company further consolidate its leading position in the industry; thirdly, biyinlefen has strong competitiveness, and its performance in the first half of this year is better than that of the industry With the help of new brands and bending stores in Venice, it is expected to further enhance the operation capacity of the retail stores in the future.