The Market Value Of Expensive Birds Is Now Only 3 Billion 500 Million Yuan, Shrinking 91%.

According to the 2018 earnings report issued by expensive birds, the net profit attributable to shareholders of Listed Companies in 2018 was 686 million yuan, down 536.01% compared with the same period last year.

Obviously, the performance of the GUI bird is dismal. It is no longer "expensive". Its profit has fallen sharply, losing 686 million yuan a year.

At the peak, Limited by Share Ltd, a market with a market value of more than 40 billion, now has a market value of only 3 billion 500 million yuan, which shrank by nearly 91%.

You are a clothing listed company. The first year's operating income and the net profit after deducting the parent company's profits declined.

Although the company could achieve a year-on-year growth in revenue from 2015 to 2017, the net profit attributable to the parent company was only 1 years in 3 years.

Now, the new annual report, which has been completed in 2018, shows that the company's net profit has declined again, not only after operating income and after deducting the net profit of the parent company, but also the first loss in nearly 5 years.

The traditional "noble bird" brand business is the core revenue source of the company. The sales mode of the brand sells products mainly to wholesalers, and there are only 4 outlets in the country.

In the year 2015 to 2017, the wholesale sales revenue of the brand was 2017, 99.96%, 82.93% and 55.23% of the total revenue.

Compared with peers, the proportion of company's direct business income is low, and the dealer mode depends on risk.

Therefore, when the dealer channel is difficult to finance, the sales revenue of the brand is greatly affected. The company decides to lock in the resources of the sales channel, reduce the risk of the dealer mode and expand the scale of the direct business revenue.

After adjustment, in 2018, there were 1438 new stores and 1 closes, and 515 new distributors were opened and 2809 were closed.

During the reporting period, the outlets achieved 865 million yuan of business revenue, an increase of 19.29% over the previous year, and the franchisee achieved operating income of 1 billion 201 million yuan, an increase of 904.66% over the same period last year.

The company has completed the acquisition and is in the process of business integration and optimization, and there is no acquisition plan in the near future, However, the sales staff increased due to the acquisition of channel enterprises, which will lead to a substantial increase in the salaries and benefits of salesmen in 2019, store management fees and office expenses.

In addition to the adjustment of sales channels, the annual report of the "bird and bird" reveals that the gross profit margin of the company's main sports footwear industry has decreased by 6.58% compared with the same period last year, and the gross margins of the major brands have declined.

You see, the decline in gross margin is mainly due to the intensification of market competition and the purchase of 2018 year old brand bird products from some distributors, resulting in a decline in the annual sales revenue of the independent brand of the expensive people with high gross profit margins.

At the same time, the cost of raw materials increased and the output of independent brand products decreased, resulting in a rise in the cost of fixed assets and a decrease in gross profit per unit product.