Analysis Of The Development Of Spinning Enterprises In 2016

With strong support from policies and rising demand for mass sports,

Under the trend of vigorous development of new media,

Ten years of growth will be ushered in.

We are optimistic about its broad market space and will continue to benefit from the pformation of sports enterprises.

Abstract:

For the first time covering the sports industry, giving "overweight" rating.

We believe that under the conditions of strong policy support, rising demand for mass sports and vigorous development of new Internet media, the sports industry in the future will usher in a golden ten years of growth. According to the national strategic plan of sports, the industry scale will reach more than 5 trillion in 2025.

We are optimistic about the growth prospects of the sports industry and give the industry a "overweight" rating.

The industry recommends the target:

Xun Xing shares,

Sanfo outdoor.

We believe that in the 2016-2025 years, the sports industry will usher in a golden ten years of rapid growth. The CAGR is expected to reach 15%-20%.

Because: 1) on the macro level, sports become a national development strategy, policy escort, clearly put forward more than 5 trillion development goals; 2) on the micro level, the demand and income level of mass sports continue to rise to support the rapid development of industries; 3) the rapid penetration of the Internet and the rapid rise of new media play a catalytic role in the marketization of sports industry; 4) the acceleration of all kinds of funds and capital investment in sports industry, and promote the rapid development of sports industry chain.

In the future, sports services will compete as a medium to open up two trillion market space, CAGR up to 32.29%.

1) the sports industry is mainly divided into sports services and sporting goods. China's sports services account for only 20% of the current sports development potential.

2) competition IP is the core of the sports industry, and the policy of "No. 46" is relaxed, and the restrictions on broadcasting rights are clearly put forward.

3) the rise of new media breaks the traditional monopoly and accelerates the marketization of IP value of sports events.

4) domestic competition operation and club operation actively learn the mature international operation mode, especially the CBA reform, which speeds up its commercialization process, and greatly promotes the development of sports service industry.

Sports products continue to grow steadily, specialization is becoming a trend and outdoor sports are developing rapidly.

1) after 2014, the recovery trend was revealed, benefiting from the upgrading of the sports consumption of the whole nation, and it is estimated that the sports goods in the future will reach 1 trillion and 500 billion.

2) consumption upgrading and technological development bring about specialization of sports products.

3) the outdoor products industry is benefiting from the trend of specialization and the pformation of the public lifestyle, and is in a period of rapid growth.

It is estimated that the scale will reach nearly 42 billion yuan in 2020.

4) sporting goods companies such as Pathfinder and Sanfo outdoor are aiming to create an outdoor ecosystem that is expected to exceed market expectations.

Core recommendation: noble bird, Xun Xing share, Pathfinder, Sanfo outdoor.

It is suggested to increase the entry rate of the sports user flow of the card location. It is estimated that the target population will be priced at 40 yuan in 2016. The target price will be RMB 15 yuan. The target price will be 15 yuan. The target price will be 15 yuan. The target price will be 25 yuan. The target price of Sanfo outdoor will be $90.90.