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Bosden'S Performance Rose Against The Trend In 2020 / 21, With China'S Down Jacket Leading The World
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On June 23, bosden (03998. HK) announced its results for the fiscal year 2020 / 21.
According to the financial report data, as of March 31, 2021, bosden group's annual revenue reached 13.5165 billion yuan, up 10.9% year-on-year; The profit attributable to equity shareholders reached 1.709.6 billion yuan, up 42.1% year on year. This is the fifth consecutive year that bosden has achieved double-digit growth in revenue and net profit.
Among them, bosden's down jacket business segment has reached a new high in revenue, which is comparable to the top luxury down jacket brand, making China's down jacket brand a global leader and showing the professionalism and strength of China's brand to the world.
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The annual profit increased by 42.1%, and bosden's performance rose against the trend
According to the relevant data, in 2020, the annual business income of the clothing industry will be 1369.73 billion yuan, a year-on-year decrease of 11.3%. Coupled with the superimposed impact of the epidemic situation, the clothing industry in 2020 will face difficulties. The demand of domestic and foreign clothing market will slow down, the comprehensive cost will increase, and the industry investment motivation will decline. Many A-share clothing enterprises will encounter the plight of sharp decline in performance and encounter "cold winter".
In this environment, bosden's strategy of focusing on down garments has achieved remarkable results, and its performance will rise against the trend in 2020. Among them, bosden's down jacket business segment has reached a new high and once again become an important fulcrum to drive the growth of core revenue of the group.
Excellent product force, laying a global leading foundation
Bosden's success is closely related to the brand's pursuit of innovative quality, adherence to product technology innovation, and adherence to strict standards. In the course of brand development, bosden shows the ingenuity of Chinese brands.
In terms of product technology, bosden insists on making with ingenuity, and each velvet garment has been manufactured by 62 artists and 150 processes. Bosden has taken the lead in solving technical problems in the industry in view of the consumer's pain point of down drilling. It uses German heat-resistant machine needle to effectively avoid damage to the fabric during the sewing process. It uses 150D silk light, 603 sewing thread or 21tex sewing thread to fully fill the needle hole left by the machine needle, so that each product is locked with high density down. This technology has successfully solved the common problem of down jacket drilling in the industry, and obtained the invention patent. At the same time, bosden will promote this technology in the whole industry, leading the industry to make common progress.
In order to improve the product experience, bosden continuously increases R & D investment, empowers products with science and technology, and leads the industry reform. In terms of material innovation, in 2001, green and environmental protection down jacket (antibacterial fabric) was launched, and a series of down coats with intelligent thermal insulation characteristics were exclusively launched in China, which improved the technology content and wearing comfort of bosden products as a whole, and promoted the green environmental protection reform of cold proof clothing; In 2003, it became the first brand to launch and use the international leading level "chitosante ecological antibacterial velvet"; In 2004, it was jointly developed by the Institute of physical and chemical technology, Chinese Academy of Sciences, and introduced the domestic leading nanotechnology into the field of cold clothing. It was awarded the only "scientific and Technological Contribution Award" in the field of cold clothing by China Textile Industry Association. In terms of structure, bosden launched the world's first patented air self circulation system, using elastic webbing combined with complex patent structure to exhaust the hot air generated during skiing through the back and collar; At the same time, a temperature scale system was established to measure the thermal performance.
Bosden is breaking through the boundaries of traditional down jacket through scientific and professional changes one after another to meet more professional needs for warmth.
Prior to that, bosden had helped the Chinese mountaineering team and the Arctic and Antarctic scientific research team for many years in a row to complete the task of "reaching the summit". Through continuous iteration and upgrading of polar cold protection equipment, bosden broke the foreign monopoly and showed the world's leading professional strength in cold protection. Among them, the global top matching down jacket "mountaineering series" launched in 2019 has helped Xia Boyu, a leggless mountaineering warrior and winner of the "Oscar" Lawrence award in sports, to climb the "top of Europe" elbrush peak, and won the gold award of the fourth "China excellent industrial design award" in 2020, becoming the only clothing product among the ten gold medal works. In 2020, bosden, together with China's Antarctic scientific expedition, launched the "professional thermal insulation series", successfully helping the Chinese Antarctic scientific research team successfully complete the 36th and 37th Antarctic scientific examinations.
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In addition to developing its own professional strength, bosden, as a professional down jacket brand focusing on down jacket for 45 years, actively undertakes the important task of promoting the standardization development of down garment industry in the world. Up to now, bosden has 271 patents, participated in the formulation and revision of 23 international standards, 11 national standards and 4 industry standards. At the same time, bosden also undertakes the work of the Chinese Council of international down and feather board (idfb) and the Secretariat of down garment Sub Committee (SAC / TC 219 / SC1) of the National Technical Committee for garment standardization, Promote the global down garment industry to enter the era of standardization development, and lead the high-quality development of the industry.
In today's clothing industry with fierce market competition, whoever has mastered the standard will win the market dominance. Bosden's promotion of standardization development not only helps the whole industry to effectively improve the quality of products and enhance the brand's ability to participate in global competition, but also sets a benchmark for Chinese clothing brands to go to the world.
All round development of brand power wins world attention
In response to the national brand power policy, bosden never forgets the mission of national brand, and takes the revitalization of national brand as its own responsibility, so that Chinese brands can win the world's attention and favor.
In 2006, bosden helped Han Xiaopeng win the first skiing gold medal in the Winter Olympic Games, achieving a breakthrough of zero gold medals in snow sports in China; From 2018 to 2020, bosden has been on the stage of international fashion week for three consecutive years; At the same time, bosden also cooperated with the founder of the golden age of Hermes Gautier to launch a joint brand, which was favored by celebrities at home and abroad, and constantly improved the brand potential.
In the pursuit of excellence, bosden does not forget his original intention, takes "warm the world" as its mission, and practices social responsibility. In 1999, Gao Dekang, the founder of bosden, personally invested 120 million yuan to build KangBo village for villagers to promote local economic development; During the epidemic period in 2020, bosden launched the public welfare activity of "300 million down coats rushing to the front line of anti epidemic", to warm and protect the anti epidemic workers, and let "China refuel" ring through the London Fashion Week show, bringing the strength and confidence of Chinese brands to the international stage.
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Over the years, bosden has consistently donated tens of thousands of cold proof clothing to poverty-stricken households, poor students, orphans and the elderly in the "three districts and three prefectures" of Tibet, Xinjiang, Sichuan, Gansu, Shaanxi and other deep poverty-stricken areas every year. Its public welfare footprint covers 29 provinces, 108 prefecture level cities and 558 counties, benefiting 1.192 million poor people and covering the world. By 2020, bosden has donated more than 1.2 billion yuan. With social responsibility to create brand charm, for the society and consumers to pass corporate social value, show patriotic feelings.
Digital transformation, efficient restart of precision service consumers
In the post epidemic era, bosden's rapid restart and operation are inseparable from enterprise digital operation and channel upgrading.
At the same time, the company has opened global flagship stores in London and more than 350 buyer's shops in Italy, winning the favor of mainstream people at home and abroad. Many fashion bloggers call bosden in INS, and invite international famous designer teams to create store image, Further improve the consumer experience.
At the operational level, bosden deployed the supply chain digitization in advance, signed an agreement with Alibaba, and established a data center. At present, based on the enterprise data, bosden has connected the supply chain links, opened the front-end sales, middle end inventory and back-end production outsourcing processes, which can quickly respond to market demand, and pay attention to the timely supply of raw and auxiliary materials and inventory control.
For back-end production, bosden has a first-class intelligent manufacturing factory. It is the world's largest and most advanced down garment production base, with an annual throughput of nearly 20 million pieces. In the middle end logistics, bosden has built the most advanced intelligent distribution center in China's clothing industry, bosden intelligent distribution center (CDC). To meet the needs of consumers faster and more accurately, realize the direct distribution of all stores in the country, as well as the interconnection from stores to factories and distribution. The deployment of nine major reservoir areas in the world can not only respond to the market demand more quickly, but also realize the national sharing of goods. For front-end sales, enterprises further promote digital innovation of supply chain, promote online and offline integrated operation, link consumers in the new era with new modes such as live broadcast, community operation and off-store sales, continuously improve market share, consolidate market leading position and boost performance growth.
Bosden's success in global brand competition is an inevitable result of enterprises' continuous building of core competitiveness such as brand upgrading, product leading, high-quality fast response, etc. At the same time, bosden responded to the call of building a strong brand country, helped the product upgrading and brand remodeling in an all-round way, and fought for the voice of Chinese brands in the world clothing market.
Bosden bright eyes, strong financial reports to attract market attention, the capital market is optimistic about bosden down jacket development. Zheshang Securities pointed out that bosden group's brand transformation effect in the past three years was obvious, the gross profit rate of down jacket business income continued to record high, the fast response supply chain was fully utilized, and the inventory under the epidemic situation was well controlled. At the beginning of the new three years, we expect the company to continue to move forward under the rise of the national tide. In addition, several securities companies, such as CICC, Tianfeng and Guosheng, have maintained the "buy" rating and continue to recommend bosden to affirm bosden's leading position. Bosden will continue to upgrade its leading position in the new three years, and its future valuation is worth looking forward to.
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