Observation: How Are The Once Leading Shoe Enterprises And Noble Birds Now

According to the announcement issued by guirenniao Co., Ltd. (hereinafter referred to as "guirenniao") recently (May 13), the company intends to sell the relevant assets in the factory area of Yangguang village, Dongyuan Town, Taiwan investment zone, Quanzhou City at a market price not lower than the appraisal price.

According to public information, guirenniao was founded in July 2004 and listed on the main board of Shanghai Stock Exchange in January 2014. As a well-known local sports footwear and clothing enterprise, besides its own brand "guirenniao", guirenniao also has holding subsidiaries such as jiezhixing and mingshiku, as well as international and domestic first-line famous sports products, such as Nike, ADI, UA, converse, new balance, etc Li Ning, new Bailun, skykey, Arthur, DC, puma, etc. have agent sales or operation.

However, since 2018, the noble bird has fallen into a business crisis, and overdue loans, debt ceiling, delisting risk and so on have become its frequently mentioned keywords. Subsequently, with the support of governments at all levels, Quanzhou intermediate people's court and the company's managers, the noble bird successfully completed the judicial restructuring in 2021. At the same time, combined with the actual situation of the company, it optimized and adjusted its business model, optimized the allocation of resources, and developed new business. The company's business fundamentals and asset liability structure were significantly improved, and its sustainable operation ability and profitability were effectively restored, It has initially returned to the track of sound development.

According to the financial report, in 2021, guirenniao realized 1.419 billion yuan of operating revenue, an increase of 19.43% over the same period of last year; The net profit attributable to the shareholders of the listed company was 360 million yuan, turning losses into profits on a year-on-year basis.

Among them, the main business income of sports shoes and clothing was 857 million yuan, a year-on-year decrease of 14.65%, and the gross profit rate of main business was 23.55%, 10.15 percentage points lower than that of the same period of last year; Grain trade business income of 245 million yuan, the main business gross profit rate of 11.10%.

As of December 31, 2021, kingbird brand marketing network has covered 29 provinces, autonomous regions and municipalities directly under the central government, with 1532 retail terminals and a total retail terminal area of 125300 square meters. According to the classification of cities, there are 139 retail terminals in first tier cities, 269 in second tier cities, 318 in third tier cities and 435 in fourth tier cities; According to the region, there are 249 in East China, 349 in Southwest China, 160 in Central China, 200 in Northeast China, 336 in North China and 238 in Northwest China.

The company will continue to strengthen the product and brand power of the "noble bird" brand, continuously optimize the channel construction, enhance the scale and profitability of the distributors, give full play to the company's competitive advantage, and actively create the compound competitiveness of "sports + new consumption".

According to the latest quarterly financial report, in the first quarter of 2022, guirenniao achieved a total revenue of 369 million yuan, up 74.8% year-on-year; The net profit attributable to shareholders of the listed company was 2.55 million yuan, which was - 59.157 million yuan in the same period of last year.

As of March 31, 2022, guirenniao brand marketing network has covered 29 provinces, autonomous regions and municipalities directly under the central government. The number of retail terminals has reached 1571, with a total area of 131000 square meters. According to the classification of cities, there are 143 retail terminals in first tier cities, 282 retail terminals in second tier cities, 327 retail terminals in third tier cities and 441 retail terminals in fourth tier cities; According to the region, there are 236 in East China, 352 in Southwest China, 221 in Central China, 225 in Northeast China, 308 in North China, 93 in Northwest China and 136 in South China.