Recently, Sanfo Outdoor Intends To Issue A Public Offering No More Than 20 Million Shares.

Recently issued a notice that the proposed non public issuance of not more than 20 million shares, the total amount of raised funds not more than 600 million yuan.

Zhang Heng, the company's actual controller, promised to subscribe no less than 30 million yuan and not more than 60 million yuan.

Of the 600 million yuan of the fund-raising, 398 million yuan was invested in the construction project of Sanfo outdoor activities, camp + training, retail and experience integrated operation center. The project focused on outdoor sports enthusiasts' all-around demand and built an outdoor sports service integration industry chain. The company plans to build outdoor sports comprehensive operation center in 7 cities of Suzhou, Beijing, Shanghai, Shenzhen, Hangzhou, Guangzhou and Changsha, covering the contents of "outdoor event organization, outdoor camp operation + outdoor skills training, direct flagship store + experience center" and so on.

After the project is completed, the average annual operating income is 414 million yuan, with an average annual net profit of 66 million 709 thousand and 400 yuan, and the construction project of Sanfo headquarters office and R & D center will use 202 million yuan to raise funds.

Sanfo outdoor said that after the implementation of the project, it will enhance the image of the company, enhance the efficiency of the collaboration among various departments of the company headquarters, attract talents and enhance the company's own interests.

The R & D capability of products can enhance the operation level of outdoor events. On the basis of the existing information system, we can complete the construction of membership, electricity supplier ERP, all channel operation platform, intelligent logistics and warehouse management system, so as to meet the requirements of the company's future development for information system.

Sun Yu, a researcher at China Merchants Securities, said that Sanfo outdoor relies on the multi-channel direct operation mode of "the direct marketing + the electricity supplier + big customers", and the club type service system, which has developed into a professional retailer for outdoor products.

Leading enterprises.

Under the background of terminal retail recession, outdoor sales of companies have been affected, but for Sanfo outdoor, its fine operation is strong. At the same time, the stock incentive plan launched at the beginning of the year for core teams and senior managers and directors will help to boost the company's future development.

In the view of Sun Yu, the two major projects invested by 600 million yuan in Sanfo's outdoor fundraising will provide a certain income contribution to it.

Although in the short term, corporate events and tourism can not contribute quickly to profits, the development of the two new businesses will give new connotations to the offline channels, help to gather outdoor sports enthusiasts and provide customer reserves for the retail business.

The current market value of the company is 5 billion 268 million yuan, corresponding to the 16 year PE 160X, and the short-term overvalued value has not been digested. But taking into account the positive pformation of the company's outdoor service and the direction of the operation of the event, binding the outdoor consumption of members, the proportion of the future gross margin service business will increase rapidly.

Sun Yu believes that there is a certain resistance to Sanfo's outdoor growth. The biggest risk comes from four aspects: terminal retail is lower than expected, new shop opening period is too long, cost control is lower than expected, and outdoor service promotion is lower than expected.

Reporters here also learned in the interview that over the past decade or so, the characteristics of the sports industry are characterized by the intensification of functionality and professionalism, the increasing demand for subdivision and the weakening of brands.

For brands, with the number of brands increasing year by year, the competition in the domestic market is becoming increasingly fierce, and competition barriers are becoming more and more difficult to establish.

But for the channel providers, the increase in the number of brands means that the optional brands are more abundant, and the bargaining power of the channel providers is stronger.

And the one-stop shopping outdoor products channel business will usher in a development opportunity, especially for Sanfo outdoor professional stores as the main channel retailers.

Sanfo outdoors admitted that the company intends to build a one-stop outdoor sports service eco industrial chain through outdoor sports services such as sports events, camps + training, retail + experience.

Taking outdoor events and outdoor activities as one of the windows of brand promotion, gathering members and accumulating customers, undertaking outdoor sports activities through professional outdoor camps, providing outdoor camp education places, meeting the growing market demand of outdoor camps, popularizing outdoor sports knowledge, cultivating a new generation of outdoor sports groups through youth outdoor skills training, and cutting into outdoor sports skills training market.