2014 annual basic income forecast: the company's revenue and profit in 2014 are expected to decline by about 20%. There are some problems in the 15 year income growth. (currently, the spring and summer and autumn orders have been opened, the spring and summer has increased, and the winter order has not yet started). It is expected that the steady growth of 16 years will increase rapidly.

In 2015, the company mainly increased the retail level of the terminal, and it did not work for the distributors. The company and the distributors did not want to do it for a long time. The pressure was not conducive to the long-term development. The promotion measures on retail were as follows: (1) the property rights did not change, but it belonged to the distributor's shop, but the company sent people to the store. (2) the company announced that the company's structure had been adjusted to prepare for the retail promotion, and the agent was also required to set up the counterpart company's department according to the structure.

(3) in December, more than 20 marketers were led to investigate the improvement of stores in Guangdong.

The change of the industry level mainly comes from the supply side. The demand side has not changed much. The sales volume of the terminal has not been reduced, but the sales volume has been reduced, and the volume has been relatively stable.

In terms of supply, there were 3000 shoe makers in Jinjiang before. There are definitely 800 million people who can't do it now. The phenomenon of stronger supply side is more obvious. Most of these dead companies used to focus on the three or four line market, which is good for the surviving enterprises.

For the problem of Anta's brand sinking, it is believed that the sinking of these brands is an existing fact. It is not only now, but also the habit of consumers.

Now consumers are becoming more rational, like fake foreign brands.

In terms of the whole industry, the inventory has been handled almost the same.

The electricity supplier of noble bird company is mainly made to agents in Fujian.

Jingdong and so on all have stores. There are also departments responsible for electric business inside the company. Previously, they were mainly sold in inventory, and they were sent to the dealer from all over the country. So we can not see this from the report. After 2015, there will be a special contribution from the Internet.

The main channel, the company also attaches importance to, but think that the current online cost is very high, sports goods cost some of which are over the line, the electricity supplier's price advantage has not, will not be as fast growth as before.

The field is still in the sports industry, rather than outdoor areas and other areas. It seeks non regional performance of the national mass, mass sports, such as running, cycling, basketball (including aunt square dance).

The company wants to make full use of it.

Do something outside the system.

These are gradually liberalized, the market will be very large in the future, 5 trillion of the state does not invest 5 trillion, we think it is the consumption of the masses 5 trillion, we hope to seize this opportunity to do some operations.

For instance, at the end of 14, the General Administration of sports announced that it was liberalized.

The organizers of the event are all government, but the operation is done by companies, such as the Xiamen marathon.

Beijing marathon gross profit is as high as 50%, net profit also has 30-40% very high, the biggest cost is security.

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Advantage: compared with Hong Kong stock listed companies, A shares are more leveraged because of two market valuations, and companies can have higher premiums on takeovers.

There is no rigid income and profit requirement for the target, but it must be a project that has a definite profit expectation in the future.

It does not necessarily buy and go to a listed company. It can also be put in the sports industry fund for a period of time to mature and put in again.

3-5 years later, I hope this piece will be almost as big as the main business.