A Shares 21 Home Enterprises In 2018 Revenue Of Over 69 Billion 500 Million, The Fastest Growing Is Her!

In 2018, the performance of Shanghai and Shenzhen two cities entered the intensive period. As of March 6, 2018, 21 clothing listed companies disclosed the 2018 results. According to statistics, 21 garment listed companies totaled 69 billion 537 million yuan in 2018 and 60 billion 872 million yuan in the same period last year. The total net profit attributable to the parent company was 3 billion 846 million yuan, compared with 3 billion 115 million yuan in the same period last year. At the end of the reporting period, the assets of 21 garment listed companies amounted to 86 billion 679 million yuan, compared with 81 billion 301 million yuan in the same period last year.

According to the sub sector, children's wear performance is excellent. Semir's clothing business income and net profit increased by 30.7% and 48.7% respectively in 2018. Excluding the combined factors, the Barbara brand is expected to grow at about 25% throughout the year. The location of high-end children's clothing has increased 17.55% and 21.52% respectively in operating income and net profit, and has resumed a rapid growth under channel and product adjustment.

Semir's main brand of Semir is expected to grow at double digits, the business revenue and profit growth of American bond clothing is 18.42% and 114.08% respectively, and the women's wear section shows a difference. Among the two companies that reported the results, Vigna S performed better, and the growth of business income and net profit was 20.21% and 44.28% respectively, which mainly contributed to the brand TEENIEWEENIE of the M & a brand. The business income and net profit growth of the group were 13.10% and 11.61%, respectively, and there was still much room for improvement.

The sports department still performs better, and the business revenue and profit growth of the high-end sports and leisure company is 37.21% and 60.98% respectively.

From the ranking of operating income, the top five are Semir, costumes, seven wolves, and the wedding birds.

Judging from the ranking of net profit attributable to shareholders of the parent company, Semir clothing, search for special, seven wolves, Bi Yin Le Fei and Vigna S ranked the top five.

With the gradual disclosure of performance bulletin and annual report, the quality track leader in the industry shows the flexibility of performance growth. Wang Yusi, a researcher at Zhongtai securities, thinks:

1, from the mass brands, from the performance bulletin disclosed, Semir apparel's business revenue and profits have increased rapidly. Excluding Kidiliz and its factors in the four quarter of 2018, the annual net operating income and net profit attributable to parent companies increased by 20%+ and 33% respectively. The fourth quarter grew by 20%+ and 90% respectively in the single quarter.

In addition, the product and channel adjustment and optimization of the United States and the seven wolves have gradually improved their revenue year-end, but the growth rate of the four quarter was slowed down by the weak demand of the terminal. The performance of the two parties was basically corresponding to the income growth.

2, in the high-end brands, the rate of growth is higher than the prediction limit. The performance growth in 2018 and the four quarter reached 61% and 96% respectively, which mainly benefited from the same store growth brought by product R & D design and channel optimization. At the same time, the income tax preference (15%) determined by high-tech enterprises further increased the profit of the company.

While the brand of Langer and the main brand of wicknus are slowing down in the background of weak terminal demand, the annual growth rate is expected to slow down.

3, children's clothing brand has obvious advantages and fast growth in income. Children's clothing is a sub industry with high degree of vision in the clothing industry, and the demand is affected by economic fluctuations weaker than the overall clothing.

And in the background of parents' increasing requirements for the safety and quality of children's clothing, the leading industry is expected to surpass the growth of the industry.

From the brand of children's clothing that has been disclosed, both nears and Semir costumes have maintained relatively fast revenue growth.

Ma Li, an analyst with Soochow securities, said that the brand clothing enterprises that can settle down and develop very well at that time are no longer a simple wholesale wholesale development of brands and channels.

In the past 2012-2017 years, these enterprises have made great efforts in product development, supply chain management, terminal retail management and so on. The assessment has also been gradually pformed into terminal retail orientation, essentially forming the business philosophy of terminal and company as the interest community.

On this basis, the industry should pay attention to the trend of gradual increase of market share after the reform of the company, such as the proportion of Anta in sports apparel and the data of Barbara in the children's wear industry.

In contrast, the brand clothing enterprises with clear positioning and strong retail management have achieved certain growth in 2012, such as bebul Finn, fuanna and Jiangnan Buyi.

At the same time, most of the brand clothing enterprises are valued at 18 years and 10-15 times PE level. Because of light assets operation and good cash flow, cash on the books is possible for high dividends.

However, in Marie's view, the above content determines that the space for high-quality brand clothing enterprises to adjust downward is very limited, while the restrictive plate is still the main economic environment. Since the end of June 2018, the data in the first quarter of 2019 are much more difficult, which is mainly determined by the high base number, the relatively early spring festival, the year-end income and the employment situation of the previous year.