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Nine Mu Wang Men'S Clothing Closes 59 Stores In The First Half Year

2013/8/19 20:23:00 12

Nine Herding King Men'S Clothing Brand Recruitment Project

9 Mu Wang published the 2013 China Daily, and the two quarter profits further declined.

In the first half of the year, the revenue of men's trousers and jackets for the first time fell.

at the same time, < a href= "//www.sjfzxm.com/news/index_c.asp" > nine herd Wang < /a > disclosed that the company's investment in marketing network construction has become more cautious, slowing the pace of opening stores.

There were 3205 stores in the first half of this year, 59 less than the beginning of the year.

it is worth noting that in May 2011, when the king was listed, its main purpose of raising funds was to increase the construction of marketing network.

at that time, the net amount actually raised by nine Mu Wang was 2 billion 553 million yuan.

As of June 30th this year, nine Mu Wang actually used 1 billion 111 million yuan to raise funds, of which only 487 million yuan was used to raise funds.

More than two years later, the use of fund-raising projects was less than 20% of the net proceeds.

nine people of the Ministry of investment in the Ministry of investment told the investor newspaper that the prices of recent rental and buying shops were very high, and the situation of the clothing industry was not good enough, and the progress of the investment projects was relatively slow.

another director of a listed company told reporters: "at that time, the purpose of the company was to go public, as for the development of the investment and investment project depends on the development of the situation."

59 stores in the first half of the year, /p >

the results of the interim report show that in the first half of this year, 9 Mu Wang achieved 1 billion 164 million yuan in revenue, down 2.29% from the same period last year, and the net profit attributable to shareholders of listed companies was 290 million yuan, down 14.03% compared to the same period last year.

9 Mu Wang said that the main reason for the decline was terminal consumption and construction of channels.

In the first half of the year, the revenue of men's trousers and jackets for the first time fell.

> from < a href= "//www.sjfzxm.com/news/index_c.asp > > garment industry < /a >, according to the statistics of the China National Business Information Center, the retail sales of clothing commodities of hundreds of major retail enterprises in the first half of 2013 increased by 6.9% compared with the same period last year, the growth rate decreased by 2.9 percentage points compared with the same period last year, while the retail sales of all kinds of clothing increased by 4.3% over the same period last year, and the growth rate was 3.3 percentage points higher than that of the same period last year, indicating that the sales promotion intensity increased.

the development of nine Mu Wang has been slower than the average level of the industry.

Dongguan securities Wei Hongmei analysts believe that the first half of the closure of a large number of shops, mainly in poor performance franchised stores.

The total number of stores is expected to decrease year by year.

In addition, the franchisee's confidence is affected and orders are more cautious. It is expected that the order amount in autumn and winter may fall in 2013, and the purchase order in spring and summer in 2014 will still be adversely affected.

, which is not estimated by the king.

In the 2012 annual report of the board of directors, 9 Mu Wang disclosed that the business plan for 2013 showed that the revenue plan was 2 billion 750 million yuan, and the cost plan, the cost and the period cost were 1 billion 900 million yuan.

The new year's business objectives, the 2013 annual planned net growth terminal 60~100, is expected to achieve sales revenue of 2 billion 750 million yuan, an increase of 5.77% over the 2012 year.

the actual situation is that in the first half of 2013, the company realized income of 1 billion 164 million yuan, completed 42.32% of the annual income plan, and the cost and the period cost was 785 million yuan, accounting for 41.32% of the annual cost and expense plan.

On the terminal side, there was no increase in the reporting period, but 59 terminals were reduced.

Shi Hongmei, an analyst at Orient Securities, said that considering the company's 2013 autumn and winter ordering will be held early in the year, it is estimated that the order amount will drop by about one digit. Considering that the replenishment of the company is less in the later stage, it is difficult to improve in the second half of the year.

according to the above nine people who invest in the Ministry of investment, the king of nine Mu is trying to reduce inventory, and the main way is to stock through the network channel.

the progress of the project is slow, .

it is noteworthy that in the first half of this year, the company's investment in marketing network construction became more cautious and slowed down the pace of opening stores.

There were 3205 stores in the first half of the year, 59 fewer than the beginning of the year, including 1749 shopping malls, 20 more than the beginning of the year, and 1456 stores, representing an increase of 79 compared with the beginning of the year.

The number of direct outlets increased by 42 to 736 compared with the beginning of the year, and the number of franchised stores decreased from 101 to 2469 in the beginning of this year.

this is not consistent with the goal of the investment project launched by the nine herd kings.

The company intends to invest 4 funds in the construction of marketing network, optimization and upgrading of supply chain system, upgrading of information system and design and research center.

9 Mu Wang acknowledges that the marketing network construction project of one of the company's raising and investment projects has been progressing slowly.

Of the 11 shops that have been purchased, 1 are direct stores, 10 are strategic franchises, and 12 shops have been leased as strategic franchisees.

in addition to increasing the marketing network, the supply chain system optimization and upgrading project has been progressing slowly, and the related construction procedures for site selection of logistics warehousing construction projects in this project have not yet been completed.

The company's design and R & D center construction project has not made any progress. It is mainly located in the Xiamen nine Mu Wang operations center building, which is not yet completed and put into use.

up to the end of the two quarter, < a href= "//www.sjfzxm.com/news/index_c.asp" > marketing network < /a > the input rate of construction project is only 30.06%, and its profit is only 199 thousand and 800 yuan.

The input progress of the supply chain system optimization and upgrading project is 15.72%, the input progress of the information system upgrade project is 44.25%, and the investment schedule of the R & D center construction project is only 9.77%.

These parts are not profitable.

data show that as at June 30, 2013, nine Mu Wang actually used 1 billion 118 million yuan to raise funds (including: 487 million yuan for raising funds, 270 million yuan for permanent funds to raise funds, 355 million yuan for the purchase of financial products, and 118 million yuan for interest earned from raising capital deposits), and 3 million 331 thousand and 600 yuan of accumulated financial revenue, accumulatively deducting 15 thousand and 900 yuan of handling fees, and accumulatively received 907 thousand and 200 yuan of liquidated damages for postponed delivery, and the amount of funds raised was not yet used by 1 billion 564 million yuan.

above, the investment department of the nine Mu Wang securities told reporters that there was no timetable for the future progress of the investment projects and the market situation.

From the perspective of the effective use of funds, some financial products have been purchased.

data show that since the listing of nine Mu Wang for more than two years, the actual use of funds raised by investment projects is less than 20% of the proceeds, and little profit has been generated.

Most of these funds can only generate interest on banks or purchase financial products.

More than two years ago, the company only went public because of the capital requirements of these p projects.

However, over the past two years, most of the funds available for listing have been nowhere to be used, and the funds already used have hardly been profitable.

The company can not deliver on its original promise.