The Chinese Men'S Wear Brand For Apple, Google And Facebook Service, The First Quarter Revenue Of 422 Million!

The modern Boulevard dress company, the modern fashion Boulevard Limited by Share Ltd (hereinafter referred to as the "modern Avenue"), has responded to the annual inquiry report of the Shenzhen Stock Exchange in June 14th. For the reply that the business income increased by nearly 70% in 2018, and the profit fell by nearly 80%, there were two reasons for the inconsistent profit change. One is the provision of goodwill impairment, and the other is the confirmation of the impairment of assets.

In 2018, the operating income of modern Avenue was 1 billion 562 million yuan, an increase of 69.56% over the same period last year. The net profit attributable to shareholders of listed companies was 27 million 854 thousand and 700 yuan, a decrease of 79.32% over the same period last year. Net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 16 million 714 thousand and 600 yuan, a decrease of 11 million 624 thousand and 100 yuan from the same period last year, and a decrease of 41.02%.

Modern Avenue indicates that the increase in revenue in 2018 is mainly due to increased revenue from agency brand business, Internet business and self owned brand business. Agency brand revenue increased by 324 million yuan over the previous year, an increase of 114.96%. The business income of the Internet industry increased by 320.91% over the previous year.

The main reason for the change in net profit after deducting non recurring gains and losses is the LEVITAS S.P.A, the controlling subsidiary of the company during the reporting period. Italy footwear brand licensing company ZEIS group is in financial distress, resulting in the whole DIRK BIKKEMBERGS brand footwear production and supply problems, based on the principle of prudence, the company's acquisition of LEVITAS S.P.A. The goodwill of the company has been set up by 38 million 45 thousand and 100 yuan.

In addition, the modern Avenue completed the divestiture of Cafu (Hengyang) Commercial Plaza Co., Ltd. in 2017. The proportion of agent brand business and Internet business income increased in 2018. The loss of assets impairment was confirmed based on the principle of prudence, resulting in a sharp decline in net profit in 2018 and inconsistent with the trend of operating income.

Shi Kun, an analyst with CITIC Securities, thinks that the main brand of modern Boulevard, the card slave Road, has the brand power foundation in the domestic high-end men's clothing. The channel adjustment has come to an end, and the shop space is still large. Agency brands are developing rapidly and there are more cooperative brands. Users are developing smoothly, and their contribution to growth is outstanding. In 2016, it invested in Silicon Valley AI high tech company YouSpace. This year, the company launched an intelligent store with multi-dimensional magic mirror and YouSpace. It is made up of smart mirror, 3D shopping wall and smart window. It enhances the customer experience and display effect of storefront space.

Public information shows that the brand of CANUDILO (card slave Road) was founded by Mr. Lin Yongfei in 1997, and opened the first brand store in China World Hotel in 1999. It has taken the first step in brand operation. In 2002, the company was founded in Guangzhou, Yi Shi Lu trade Co., Ltd., and in the 16 years since then, the company has worked hard in the senior men's clothing industry to become one of the most influential and well-known men's clothing brands in China, and has won many honorary titles such as "consumer favorite brand". After self brand takes root, the company's business gradually develops along the main line of fashion, and extends to the operation of agency brand, duty free shop and other channels, as well as the fashionable field of science and technology newly entered in 2018.

In order to cater to the trend of consumption upgrading, morden Avenue has continued to deepen the integration of brand resources, and has established long-term and stable cooperative relationship with the international and second tier brands. It has promoted and promoted the promotion and promotion of agents in many major cities in China.

In 2018, morden Avenue, using the magic mirror to interact with information technology and combined with the brand effect of its stores, creates a new online shopping experience of technology, intelligent interaction, and offline offline. It brings new consumer experience to consumers through visualization and touch mode of "technology X fashion", and intends to promote the new development of physical store sales. To provide offline offline stores with "Internet + offline retail" business intelligence, intelligent spanformation solutions include: a series of intelligent applications such as digital tag, virtual fitting, intelligent positioning, self-service terminal, VR display, brand Mini program, etc., to give consumers a new experience of intelligent and scene shopping.

The results show that in 2018, the operating income of modern Avenue reached 1 billion 562 million yuan, an increase of 69.56% compared with the same period last year. The net profit attributable to shareholders of listed companies was 27 million 854 thousand and 700 yuan, down 79.32% compared with the same period last year; net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 16 million 714 thousand and 600 yuan, a decrease of 41.02% in the same ratio; net cash flow from operating activities was 87 million 272 thousand and 200 yuan, compared with a net inflow of 284 million yuan in the same period last year; the basic earnings per share was 0.0391 yuan, and the annual report of the company was intended to be 10 yuan (including tax).

For the growth of business revenue in 2018, the modern Avenue explains: the company's acting brand online B2B business income, Macao brand brand store revenue, the company's own brand advanced custom business income, and Wuhan Yue ran heart Internet industry business income has achieved rapid growth. In 2018, the operating income of the company's own brand business was 569 million yuan, an increase of 66 million 723 thousand and 800 yuan over the previous year, an increase of 13.28%; the business income of the agent brand business was 607 million yuan, an increase of 325 million yuan over the previous year, an increase of 114.96%; the Wuhan Internet industry revenue of 375 million yuan was increased by 286 million yuan, an increase of 320.91% over the previous year.

The reasons for the change in net profit attributable to shareholders of listed companies over the previous year were 2018: in 2017, the company disposed of shares of Cafu (Hengyang) Commercial Plaza Limited for the sake of strategic upgrading and focused companies's effective resources, and confirmed that the investment income was 98 million 813 thousand and 200 yuan. Unless the regular profit and loss factors were affected, the main reason for the change in net profit of non recurring gains and losses attributable to shareholders of the listed companies in 2018 was that the company bought the LEVITAS S.P.A on the basis of prudence. The goodwill of the company has been set up by 38 million 45 thousand and 100 yuan.

In the first quarter of 2019, the operating income of modern Avenue reached 422 million yuan, an increase of 28.28% compared with the same period last year. The net profit attributable to shareholders of listed companies increased by 37 million 559 thousand and 300 yuan, an increase of 0.40% over the same period last year. Net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 37 million 490 thousand and 400 yuan, an increase of 5.01% compared with the same period last year. Net cash flow from operating activities was 110 million yuan, compared with a net outflow of 17 million 889 thousand yuan in the same period last year, and the basic earnings per share were 0.0527 yuan.

As of December 31, 2018, the total number of boulevard boulevard was 293, with 202 outlets and 91 franchisees. Among them, there were 230 CANUDILO brand stores, 5 DIRK BIKKEMBERGS brand stores, and 58 58 international brand stores.

During the reporting period, the business revenue of the direct shop in modern Avenue was 621 million yuan, the franchise business income was 72 million 919 thousand and 300 yuan, the electricity supplier business income was 369 million yuan, and the other retail business income was 111 million yuan. During the reporting period, 50 new stores were added, and the total area of new stores was about 4000 square meters. The company closed 64 stores and closed the total area of shops by about 5200 square meters. New and closed stores are required for normal operation of the company and play a complementary role in the company's performance.