Pathfinder: 1-6 Months To Achieve Operating Income Of 380 Million Yuan, An Increase Of 52.4% Over The Same Period

The outdoor brand Pathfinder 2012 EPS was 0.17 yuan, an increase of 36.1% over the same period, and the growth rate slowed down in the two quarter, with a slightly lower performance than expected. The company achieved operating income of 380 million yuan in 1-6 months, an increase of 52.4% over the same period, with a total profit of 84 million 250 thousand yuan, an increase of 63.9% over the same period last year. The net profit of shareholders attributable to listed companies was 59 million 230 thousand yuan, an increase of 36.1% over the same period last year, equivalent to EPS of 0.17 yuan, and the performance accords with the growth scope of 30-45% announced by the company before, but slightly lower than the market expectation. The two quarter earned 179 million yuan, an increase of 34% over the same period last year, with a total profit of 35 million 360 thousand yuan, an increase of 27% over the same period last year, and a net profit of 18 million 580 thousand yuan, down 22% from the same period last year. In the two quarter, the single quarter revenue growth and profit growth slowed down compared with the first quarter. Income tax The impact of rate adjustment, net profit growth is slower than total profit growth.

This year, the company voluntarily lowered its price, and the company increased its marketing input, and kept the gross gross profit and the period cost rate stable through controlling costs. In the first half of the year, the gross profit margin of the company increased by 1 percentage points to 50.8% over the first half of the year. clothing Gross margin increased by 3.4 percentage points, accounting for 7.3 percentage points less of gross domestic product of outdoor equipment compared with the same period. In addition, this year, the overall price of the company's products has dropped by 15-20%, but gross profit margins remain stable through large-scale procurement and control of supply chain costs. This year, we intensified our marketing efforts and launched the "I am a pathfinder" program in Tourism Satellite TV. The sales cost rate increased by 1.9 percentage points to 18.8%, and the management fee rate dropped 1.2 percentage points to 11.5%. As the company's new and high technology enterprises expired this year, the income tax rate rose from 15% to 25% at the time of the report. If the review is passed in the second half of the year, it may still be spanferred back to the 15% income tax rate. The net profit margin declined by 1.9 percentage points to 15.6% over the same period.

2013 spring and autumn orders will continue to maintain a 50.5% high growth, multi brand strategy to lay the foundation for long-term development.

From the spring and summer order meeting held in June, the order amount was 725 million yuan, an increase of about 50.5% over the same period last year.

Among them, the order amount of franchisee is 544 million yuan. Electronic Commerce The order is 70 million yuan, and the order is 112 million yuan for each major battalion and group customer. Company orders will account for more than 85% of revenue, so it will have a positive impact on revenue in the first half of 2013. The rapid growth of company income mainly comes from the rapid expansion of channels. By the end of 2011, there were 1041 stores in the company, and 185 stores in 2012. The planned expansion of this year is no less than 400 stores. The rate of extension is about 40%. In terms of multi brand development, Discovery, a new outdoor leisure brand, is in close discussions with partners. It is expected to sign a formal joint venture agreement by the end of 2012. The new brand ACANU operation team's capital construction has been completed, and it has been launched on sale in the two quarter of 2012.