In 2014,

Annual operating revenue increased by 8.7% to 2 billion 840 million yuan, of which overseas market revenues rose 22.5% to 650 million, accounting for 23% of the total turnover.

More attention than performance growth is that PEAK's profitability is improving.

Gross margin increased by 16.4% to 1 billion 70 million yuan and gross margin increased 2.5 percentage points to 38%.

The growth rate was 31.3% to 320 million yuan, and the net profit margin increased by 2 percentage points to 11.3%.

"In China, the sporting goods market tends to be professional.

In the big environment, we can get better returns only by making products more serialized, more specialized and closer to consumers.

PEAK sports CEO Xu Zhihua said, "PEAK's 2014 double harvest in the domestic and foreign markets and achieve the best profitability in 3 years will help us to realize the confidence to build PEAK into a professional, people oriented and popular international brand."

After its earnings announcement, its share price fell slightly, closing 0.91% today, to HK $2.170.

(the stock market did not pick up because of the good performance of PEAK, but slightly decreased).

Perhaps the capital market will not be dazzled by the temporary good performance of the sports brand, but the fact is that Chinese sporting goods companies are struggling to get rid of the past stock worries, and they are more or less ushered in a relatively sweet stage.

Now, Anta, PEAK and PEAK three have released their earnings reports. Next week, Lining will release their earnings.

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PEAK and PEAK have released their own earnings, including Anta, which was first released. Chinese brands have shown their performance in recent years.

And a few days later, Lining will give up his pcript.

Behind the earnings report, we would like to see what the company is doing and how it has changed.

The day before yesterday saw the release of the 31st degree 2014 earnings report, revenue of 3 billion 906 million yuan (the same below) increased by 9.01% compared with the previous year (the same below), gross profit 1 billion 597 million increased by 12.68%, net profit 398 million increased by 88.2%.

It should be said that the figures are still very beautiful. At the same time, there are several good news listed in the 31st degree: industry recovery, government support, better performance, ordering data will be gratifying, accounts receivable improved, children's clothing business outstanding and Baidu's joint launch of children's smart shoes.

However, after the release of the 31st degree earnings report, the share price plummeted, dropping about 10%, closing at HK $2.31, or about 7% a day.

At noon on March 11th, the stock price lingered around HK $2.26, down about 2% compared with the previous day.

Why is the number of revenue figures beautiful in 2014 and the stock price falling? Many people are puzzled.

In fact, this is a very normal situation. The earnings representative represents the past, and the stock price represents the market's expectation for the future of the enterprise.

Performance is related to stock price, but there is no direct correlation.