Traditional Men'S Clothes Are Hard To Sell? Zhejiang News Birds Last Year Net Profit Growth Of Over 300% Earn 210 Million Yuan

China's top 100 clothing industry top quality men's wear brand Zhejiang wedding bird clothing Limited by Share Ltd (hereinafter referred to as "good bird") has recently disclosed 2019 newspapers. During the reporting period, the company realized total business income of 3 billion 270 million, an increase of 5.2% over the same period; net profit attributable to shareholders of listed companies was 210 million, an increase of 305.3% over the previous year, a 3 year high; and earnings per share of 0.17 yuan. During the reporting period, the gross profit margin of the company was 61.7%, an increase of 0.6 percentage points over the same period, and the net interest rate was 6.2%, an increase of 4.6 percentage points over the same period last year.

As of December 31, 2019, the news bird has set up 1678 offline stores in the core business circles, shopping malls, shopping centers and part of the airport high-speed rail transport hub in all provinces, autonomous regions and municipalities directly under the central government, including 788 outlets and 890 franchisees. At the same time, the company actively develops online channels, and sets up official flagship stores on the three party platforms such as Tmall and Jingdong. Small program "Phoenix Shang pin" for online community marketing.

During the reporting period, the wedding birds focused on the positioning of high-end high-end men's wear brands, and continued to focus on core businesses. The main business income was 3 billion 176 million yuan, up 6.13% over the same period last year, and the main business cost was 11. 8 billion 100 million yuan, an increase of 5.24% over the same period last year; three expenses totaled 1 billion 603 million yuan, an increase of 2.04% over the previous year; the R & D expenditure was 61 million 282 thousand and 500 yuan, up 14.83% over the previous year, mainly due to the increase in labor costs caused by the enhancement of product development during the reporting period, and the net cash flow from operating activities was 395 million yuan, up 13.70% over the same period last year, mainly in terms of sales growth and support during the reporting period. Due to reduced payment.

From the perspective of business structure, tops are the main source of business income. During the reporting period, the income of the tops is 710 million, the revenue ratio is 22.4%, and the gross profit margin is 59.3%.

At the same time, the birds in the first quarter of 2020 achieved a total operating income of 650 million, down 16% from the same period last year, and realized net profit of 65 million 112 thousand, down 28.6% compared to the same period last year, and the earnings per share were 0.05 yuan. During the reporting period, the gross profit margin of the company was 62.3%, down 0.7 percentage points from the same period last year, and the net interest rate was 9.7%, down 1.8 percentage points from the same period last year.

Reported bird bird said that the impact of the epidemic, terminal retail has been seriously affected since February, although the company to promote full marketing, through the WeChat Mini program "Phoenix Shang pin", online live broadcast, friends circle sharing and other ways to increase online sales efforts to minimize the impact of the epidemic on the market, but the industry situation is unclear, terminal retail pressure is still large.

In response to the external environment of brand terminal retail downturn, in 2020, the news bird program focused on core brands and categories in the main apparel industry. The main brands, the good news birds and HAZZYS, focused on improving the performance of single stores, while other brands focused on improving operational efficiency and profitability; investment businesses continued to invest steadily and control risks.

The financial report also showed that the income side of the wedding bird has slowed down since 2012, and has entered the adjustment. The 2015-2016 year income is now declining and net profit is losing in 2016. Since 2017, the company's performance has improved, and its income has continued to grow. In 2019, the growth rate of revenue has slowed down to nearly 20% in the poor retail market and from 2018 to single digit in 2018, but the net profit side has continued to improve and profitability has been gradually restored, 20 The net profit rate of the 19 year net income rose to 1.67% from 1.67% in 2018.

Everbright Securities analyst Li Jie believes that the good news bird business has improved in recent years, the income side continued to grow, net interest rate has been repaired. But the epidemic has a greater impact on the company's sales in 2020, and its performance is expected to be under pressure in the short term. In the future, we need to continue to focus on the healthy growth of the main brands, the continued growth of small brands HAZZYS and the continuous improvement of profitability.

Public information shows that the wedding bird holdings was founded in 2001. Its main business is the research and development, production and sales of brand clothing. It has 1 million 300 thousand sets of suits and 700 thousand shirts, and has built three production bases in Yongjia, Shanghai, Songjiang and Anhui Hefei. The brands currently owned or represented include birds of good news, HAZZYS (Haggis), Camicissima (Kay Mitch), Lafuma (Le Feiye), Don Bollini, Yun Yi intelligence, Bao bird and so on, each brand product can satisfy the middle and high-end men's dressing requirements under different occasions.