Competition is increasingly fierce.

Enterprises experienced pformation pains.

The 2015 earnings report released by outdoor sports equipment design and retailers Pathfinder showed that in 2015,

The company achieved a total revenue of 3 billion 808 million yuan, an increase of 121.99% over the same period, and a net profit of 263 million yuan, down 10.5% from the same period last year.

Reporters noted that this is the first time that the Pathfinder has been experiencing negative growth since its debut on the gem in 2009.

Last year, the Pathfinder jumped into the big outdoor area, adding two major sections: Travel Service and big sports.

The company believes that the negative growth of net profit is mainly due to the fierce competition in the outdoor products market and the severe overall situation of the industry.

At the same time, after the expansion of the new business, the sales, operation and management expenses increased by more than 20%, resulting in a negative net profit of the Department.

The results showed that the outdoor business revenue was 1 billion 807 million yuan, the net profit was 287 million yuan, the travel business revenue was 2 billion 4 million yuan, and the net profit was negative 22 million 855 thousand and 700 yuan.

At present, the profitability of the company is still declining, showing no signs of improvement.

In the first quarter of 2016, the net profit of pathfinder was 71 million 790 thousand yuan, down 23.9% from the same period last year.

Reporters also found that from 2012-2015 years, the company's net profit growth slowed year after year, until the first negative growth.

Insiders said that China's outdoor market had shifted from the extensive growth stage of 2012 to the deepening adjustment stage, and the industry began to shuffle.

Pathfinder is in the throes of pition, and it will be 3-4 years before the travel business is profitable.

Pathfinder also faces inventory pressure.

By the end of last year, the number of stocks was about 1 million 180 thousand.

Cumulants are also increasing.

Insiders say that the middle class is keen on sports, international brands have increased investment, the outdoor market of the first tier cities has been saturated, and the purchasing power of small and medium-sized cities has gradually increased. Local brands should strengthen their investment layout for the two or three line cities, and at the same time, promote the development of products and brands with online advantages.