Lining Net Profit Fell 6 To &Nbsp; The Champion Of Local Sports Brand Is At Stake.

　 Li Ning Co Maori still occupies the first net profit but has no choice but to bottom.

　　 Lining 2011 Annual report shows that: the annual operating income of 8 billion 929 million yuan, a decrease of nearly 500 million yuan over the previous year. At the same time, although gross margin dropped by 8.02 percentage points to 46.1%, it still ranked first among the five major sporting goods companies. However, Lining did not get effective control in the case of no significant increase in revenue but a slight decrease of 5.8%. The total cost of distribution and administrative expenses increased by 3% to 3 billion 223 million yuan over the previous year. One liter and one drop make Lining net profit only 386 million yuan, less than half of PEAK sports net profit 780 million yuan of the top five sports brands, but reluctantly bottom.

　 Inventory turnover is the slowest and stock pressure is increasing.

Lining annual report data show that in 2011, the average stock turnover time of Lining in 2011 was 73 days, an increase of 21 days compared with the 52 days of last year. Stock Lining was overwhelmed. The report showed that Lining's stock was 1 billion 133 million yuan, an increase of 40.64% over the 806 million yuan in 2010. In addition, Lining's retail store in 2011 reached 8255, a net increase of 340, calculated by a single store income of 10 billion 816 million yuan, down 9.68% compared to the same period.

In addition, higher inventories increased Lining's inventory provision to 188 million yuan in 2011, an increase of 63.48% over the same period in 2010.

　　 Brand competition intensified, Anta pressed on to Lining

Lining and five major sports brands Anta Undoubtedly in the first camp, compared with the subsequent XTEP, 31st degree and PEAK have obvious advantages, however, Lining's original position, even not rise or fall, let the Anta that never stop have the chance to surpass.

Anta realized revenue of 8 billion 904 million yuan in 2011, only 25 million yuan less than Lining, but Anta's revenue grew by 20.2% over the same period last year. At the same time, Anta net profit reached 1 billion 730 million yuan, far ahead of Lining's 386 million yuan, ranking the top five local sports brands.

According to the other three home Sporting goods provider 2011 Annual Report, in 2011, XTEP international, PEAK and PEAK sports achieved 5 billion 540 million yuan, 5 billion 568 million yuan and 4 billion 650 million yuan respectively, representing an increase of 24.28%, 14.84% and 9.4% respectively over the same period last year. The number of retail outlets of the three companies is larger than that of Lining and Anta in the first camp. XTEP, 31st and PEAK retail stores increased by 565, 602 and 582 respectively, while Lining and Anta increased 340 and 229 respectively.

Overall slowdown in industry is still facing greater challenges in 2012.

In terms of industry, CIC pointed out in the industry research report that the sporting goods industry in 2012 is still challenging. Local brands are still cleaning up inventory, pricing difficulties, consumer demand turning and too many stores, making these brand operations still difficult.

At the end of the 30 day, Hong Kong stocks closed, Lining shares fell 4.4%, closing at 8.26 yuan / share, Anta fell 0.61% to 8.10 Hong Kong dollars, XTEP international rose 6.02% to 3.52 Hong Kong dollars, 360 degrees edged up 0.43%, reported 2.36 Hong Kong dollars, PEAK sports dropped 0.53% to 1.88 Hong Kong dollars.