Semir Clothing: Children'S Clothing Continues To Grow Rapidly, Casual Wear Continues To Adjust.

The company announced semi annual report in 2014: operating income in the first half of 2014 was 2 billion 931 million 757 thousand and 600 yuan, an increase of 7.59% over the same period last year, operating profit of 447 million 158 thousand and 900 yuan, an increase of 21.79% over the same period last year, and net profit attributable to the owners of the parent company was 343 million 755 thousand and 800 yuan, up 20.97% over the same period last year.

Comments: Children's clothing continues to grow rapidly, casual wear continues to adjust

In the first half of 2014, Semir achieved operating income of 2 billion 931 million 757 thousand and 600 yuan, of which the main business income was 2 billion 895 million 762 thousand and 200 yuan, an increase of 7.35% over the same period last year, mainly due to the rapid growth of children's clothing, the realization of main business income of 1 billion 171 million 507 thousand and 800 yuan, an increase of 30.90% over the same period last year.

From the two quarter, the two quarter of the company's sales revenue grew by 11.43% over the same period last year, the growth rate was raised, and the gross profit margin was slightly improved in the two quarter.

Period fee rate fell year on year

In the two quarter, the company's sales expense rate dropped more than the same period last year, down nearly 3 percentage points from the same period last year.

The management fee rate has increased slightly, and the cost rate has decreased as a whole. The turnover rate of accounts receivable has improved and inventory turnover has decreased slightly. In the first half of this year, the operating efficiency of the company has improved, and the turnover rate of inventory has increased slightly compared with the same period last year, and the turnover rate of accounts receivable has also been improved to a certain extent.

In the next six months, it will be given a "cautious increase" rating.

Depend on

With the vigorous development of the business, the overall revenue growth of the company can remain stable. In the aspect of casual wear business, through the promotion of products, hiring Korean fashion stars to endorse, further enhance the brand image of the company; through combing and adjusting the channels, it has improved the structure and layout, and improved the retail capacity; through the introduction of e-commerce providers for brand products, the online and offline integration mode of operation, to promote the rapid development of e-commerce business; to strengthen the input of new brand new business, and promote the implementation of the company's multi brand strategy.

In terms of children's business, we should further speed up the pformation of channels, promote the development of shopping centers, set up mushroom shops, reduce channel costs, improve efficiency, strengthen product research and development input, set up expert teams, support product development and upgrade products, actively implement multi brand strategy, and further expand children's education, culture and entertainment to create children's career clusters.

Walking on two legs with children's clothing makes the company's stability relatively strong, and we give "cautious increase" rating.