"Industrial Investment" Strategy Is To Support The Core Of High Bird Market Value.

Sports enthusiasts make investment layout for consumption hot spots, and sporting goods consumption is only the foundation of industry. The goal of "noble bird" lies in sports consumption and service industry. Ultimately, the strategy of "big industry ecology + multi product operation" is to be realized. In the latest semi annual report of 2016, the company achieved 1 billion 18 million yuan in business income, an increase of 0.13% over the same period last year, and the operating cost was 582 million yuan, an increase of 6.09% over the same period last year. Net profit of 157 million yuan, a decrease of 9.90% over the same period. In the first half of the year, the birds closed 354 retail outlets and 202 new retail outlets. The overall performance is still in the doldrums.

However, it can not be overlooked that the gap between the Chinese market and the US market is not a single star. Even with the support of "46 document", it is doubtful whether the 5 trillion output value of 2020 will really reach the expected proportion. More importantly, at present, the sports industry in China is not perfect enough. It will not be enough to support the national fitness goals and the operation of the sports venues.

Like the transformation of most large companies, the transformation of your company is due to the fact that Main business The 2014 annual report shows that the annual income of is 1 billion 919 million yuan (author note: to ensure that the financial data has not been exaggerated, the data has not been adopted in the "five entry system"), which is 20.21% lower than the 2 billion 405 million yuan in 2013. The net profit also dropped from 423 million yuan in 2013 to 312 million yuan in 2014, a decrease of 26.27%.

Contrast can be found in 2015. Guirenniao Revenue 1 billion 969 million yuan, revenue growth is very small; net profit of 331 million yuan is at a stage of stagnation, and at the same time, you also face sales costs, management fees, financial costs rise pressure, compared with the main business of the same venture enterprises are at stake. Since 2012, the cold winter in the sports market has brought 3 years of inventory to the domestic sporting goods manufacturers. During the period, the brands have adjusted the focus of their products.

Obviously, the precious birds haven't completely relaxed their main business, but still have the idea of boosting the main business. What you see is the channels of the two companies, trying to restart business growth by opening channels. At the crossroads of strategy, what the great bird thinks is whether to throw the burden forward or to face the future in a steady and steady way. At present, the birds haven't completely abandoned their main business. After all, it is difficult for the ship to turn around.

In order to achieve this goal, the way adopted by noble birds is " capital operation "Through mergers and acquisitions to invest in start-ups and industrial companies to achieve early layout. At the beginning of 2015, 240 million of them were in charge of tiger sports. In July 2015, the two sides jointly set up an investment fund with a total scale of 2 billion yuan and 1 billion yuan. Up to now, domain capital has invested in more than 20 Internet plus projects, including star projects such as knowledge of the ball, fun sports, hot body building and Feel.

But unfortunately, due to project and investment characteristics, such "industrial layout" has not really formed a strong activity with the "noble birds". Instead, it is the momentum of tiger jumping sports which has started from the content to return to A shares through industrial layout. The reason is still far from being thirsty. Sports services and sports consumption look very good. From a financial point of view, such investments will still be medium and long-term gains. Some projects even started the development of electronic commerce, the actual operation is still for Nike, Adidas "stand", the business level is difficult to help the birds.

Therefore, it is the key to "save yourself" by investing in Jay's trip and famous shoe store. Although the surface is the expansion of the channel, actually the business is upgrading. When the online store is running more and more difficult, the company wants the shareholders to continue to support themselves, and selling shoes and selling clothes is the right way. In view of the development of sports market, the "sports industry first" of noble birds is not a castle in the air. The idea that the best bird needs to win is the contradiction between its main body and external growth. When the start-ups have not yet hatched to form a strong relationship with themselves, the trend of the main business will test the strategic thinking of a transformation company.