After three years of channel integration, inventory and brand restructuring, the industry is now showing signs of recovery.

In recent days, the annual performance of sporting goods companies has been released, and the performance is generally better than expected.

Anta sports, as China's leading sporting goods company, has a leading performance in the same industry.

The group takes the lead in pformation, enriches product categories, and significantly increases market share. With the support of national policies, the development prospect is worth looking forward to.

Performance is better than expected business pformation success

The group's performance in 2014 was strong. By the end of December last year, the group's year-on-year turnover increased by 22.5% to 8 billion 920 million yuan (RMB), and the profit attributable to shareholders increased by 29.3% to 1 billion 700 million yuan over the same period. The basic earnings per share also increased by 29.2% to 0.68 yuan over the same period last year.

The success of performance is mainly due to the success of multi brand strategy and diversification of sales channels.

The group currently owns many brands such as Anta and FILA, among which the sales of children's brands and FILA are particularly prominent.

In terms of retail stores, although the number of sports stores in group entities was slightly lower than in 2013, the sales of single stores increased by 24.7% to 11 billion 700 million yuan per year, and the operating efficiency increased significantly.

At present, the clothing consumption habits of the mainland have changed, the group takes the lead in pformation, and the costumes have the characteristics of "Sports", "fashion" and "leisure" at the same time.

In addition, the Group actively promotes

The process has achieved remarkable results, and overseas market has great potential for growth.

Operational efficiency to enhance national policy support

The improvement of group operation efficiency also strongly supports performance.

In 2014, the days of group inventory and accounts receivable turnover were 58 days and 35 days respectively, better than those of 59 and 38 days in 2013.

The reduction of inventory can alleviate the pressure of production and sales, and also indicate that the competitiveness of the group's products is rising. The shortening of the receivable and withdrawal time will also help to improve the cash flow of the group and provide support for expanding business.

In addition, due to the weakness of the mainland economy, the sports industry is supported by policies, and the development is expected to accelerate. As a leader in the domestic sporting goods industry, the group is expected to benefit significantly.

In terms of share price,

The closing price in February 26th was 16.5 yuan (the same below), which has accumulated a certain increase since its performance.

The group's operation ability is excellent, and the industry is still in recovery. The growth of group performance is expected to accelerate further. The prospect can be seen at a high level. Investors may wish to wait for the stock price to return to around 15 yuan, with a target price of 22 yuan and a 13 yuan erosion.