< p > in the outdoor products industry, attracting more and more brand investment, the market competition of this industry has intensified, which has led to a decline in the prices of outdoor products. In 2013, the gross profit margin of the Pathfinder also declined, and the Explorer Dong Chang Cheng said at the shareholders' meeting in May 8th that "this shows that the competition of outdoor products market has entered the white hot stage". < /p >
< p > analysis shows that the outdoor products industry is going downhill. However, Pathfinder believes that this stage is the temporary adjustment period for the outdoor products industry to enter the high-speed growth period. The company believes that there is still room for expansion in the outdoor products market. < /p >
< p > according to the industry classification, the Pathfinder of outdoor products industry achieved a gross profit margin of 50.13% in 2013, down 1.25% from the same period last year. According to product classification, the net profit of outdoor apparel of the company's profit makers is 49.38%, down 2.28% from the same period last year. The largest drop in gross profit margin was outdoor equipment, with gross margin of 42.65%, down 5.36% from the same period last year. In 2013, only the gross domestic product rate of outdoor footwear increased by 3.36% over the same period. < /p >
< p > it is worth noting that by region classification, except for the North China region, the gross profit margin of the other six regions decreased. Among them, East China and overseas markets had a big decline in gross margin, down 21.6% and 22.05% respectively. < /p >
< p > accompanied by a decline in gross profit margin is a significant increase in Pathfinder inventories. The annual report shows that the inventories of the Pathfinder increased from 164 million yuan in 2012 to 291 million yuan in 2013, an increase of 78.11% over the same period last year. < /p >
< p > for the substantial growth of inventories, Pathfinder explained, "mainly the increase of new brands (DiscoveryExpedition and ACANU brand) inventories, and the rhythm of the 2014 spring and summer products of the company's adjusted Explorer brand this year was set up at the end of the year." < /p >