August 28th, Zhejiang wedding bird

Limited by Share Ltd released its first half results, according to the China Daily report: in the first half of 2012, the company achieved operating income of 916 million yuan, an increase of 25.02% over the same period last year, operating profit of 154 million yuan, an increase of 40.39% compared with the same period last year, and the net profit of its parent company owners was 126 million yuan, an increase of 35.8% over the same period last year, and realized a basic earnings per share of 0.21 yuan.

Multi brand collaborative development driven by main brand

Zhejiang

Dress Limited by Share Ltd in 2012 identified the "3+1" multi brand layout strategy, forming a number of major business layout including high-end business dress (Bada Sally, TOMBOLINI, Solosali), high-end business dress (wedding bird, HAZZYS, flangton), young fashion business dress (Saint Angelo, boutt) and professional wear (Bird).

As the main brand, in the first half of the year, the new bird shop opened 30 stores, and the total number reached 851. (editor's note: as of the end of June, the company reached 1076 sales terminals and nearly 80% of the brand shops, and continued to focus on the high efficiency, internal operation and organizational efficiency, channel efficiency and retail efficiency, aiming at improving the terminal fine management level) with the goal of high reputation, high reputation and high added value as the target.

"In the first half of this year, the domestic economic growth slowed down and the climate of warm winter and cold spring affected.

The terminal sales of the industry, the overall growth rate of the industry has slowed down, but the formal clothing and business clothing have maintained a relatively high growth rate, which has provided some room for the company to achieve steady revenue. "

Changyu securities Limited by Share Ltd researcher Lei Yu analysis.

At the same time, as

The sales of the group's per capita sales and single orders have also increased significantly during the reporting period. The breakthroughs have been achieved in the order of high price and large bright spot. In addition to maintaining the advantages of orders in the fields of finance, electricity and other fields, the development of other fields has also been intensified. The net profit in the first half of this year is 14 million 173 thousand yuan.

"Net profit is expected to return to the level of 23 million yuan in 2009."

GF Securities Analysis.

In the agent brand, Bada Sally develops more steadily; HAZZYS is focusing on domestic development and brand promotion, and business is progressing smoothly.

Only the San tero brand is affected by the downturn in the casual wear industry. The company has appropriately controlled the expansion efforts and integrated the online stores: 25 stores and 222 total stores.

In the implementation of the strategy of "leading brands to promote the development of multiple brands", the company still has one step to go, that is, "multi brand stores", aiming at forming a multi brand operation mode of the direct operation system and forming scale benefits.

At present, the first "Phoenix Shang pin" shop has opened in Yongjia, Zhejiang.

There are 15 famous fashion brands, including men's clothing, women's clothing and skin, which include famous birds and birds at home and abroad.

Leather goods are readily available.

Among the imported brands, the famous international brands include Versace's CesarePaciotti, France's IFIF fashion and Italy's MAURIZIOBALDASSARI.

"Phoenix Shang pin" is positioned as the two or three class market high-end fashion clothing brand integrated store, the business area is about 3000~5000 square meters, the sale of goods not only has the original of the news bird group, but also the others of the wedding bird group.

To form multi brand and store in store form.

In addition, the future "Phoenix Shang pin" will also provide a one-stop fashion service for fashion. Manuela will be included in the "Phoenix Shang products".

Following the opening of the first business, 8 other "Phoenix Shang products" will also open in all parts of the country this year, including Shanxi Datong store, Shaanxi Shenmu store, Sichuan Ziyang store, Fujian Ningde shop, etc.

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Cash flow correction

The birds in the first half of the year were outstanding except for many

And so on, there is another point worth noting, that is, the company is getting in and out of all expenses and operating cash flows.

During the analysis of the semi annual report of the news birds, the Japanese Securities Company Limited emphasized that during the reporting period, the receivables of the news bird company declined, and the stock grew reasonably and steadily.

期末，公司應(yīng)收賬款5.49億，較一季度末和年初均下降23%，主要是公司加大應(yīng)收賬款催收力度及產(chǎn)品銷售季節(jié)性;其他應(yīng)收賬款為2.39億，較一季度末增長35%、較年初增長58%，主要是公司對加盟商提供財務(wù)資助增加;應(yīng)收款項合計較一季度末下降11%、較年初下降9%;期末存貨為6.58億，較一季度末增長25%、較年初增長29%;短期借款為2.09億，較一季度末減少34%、較年初減少41%;主要是公司歸還到期銀行借款;應(yīng)付賬款為2.70億，較一季度末增長18%、較年初增長47%，主要是秋冬備貨及公司應(yīng)付貨款的信用期延長;預(yù)收賬款為1.47億，較一季度末增長59%、較年初增長33%，主要是母公司收取加盟商2012年秋冬季貨品預(yù)收款;上半年經(jīng)營現(xiàn)金流為9964萬，由一季度的負數(shù)成功轉(zhuǎn)正，主要是有效催收加盟商欠款、減少廣告費支出等。

The increase also made a lot of contribution to the growth of the birds in the first half of the year.

Northeast Securities Analysis said that in the first half of the year, the gross profit margin of the company increased by 6.5 percentage points to 60.3%, of which the gross profit rates of the four categories of tops, trousers, shirts and T-shirts increased by 4.06, 6.55, 7.44 and 3.11 percentage points respectively, mainly due to the company's high value-added route to enhance the brand's connotation, and the increase of the price of the main brand's wedding bird products.