Bosideng Holdings Rose 39.5% Compared With 280 Million 900 Thousand Yuan In The Same Period In Fiscal 2016.

Bosideng International Holdings Limited (3998.HK) Boston International Holdings Limited (Boston Holdings) shares rose 3.39% to HK $0.61% on Tuesday, after a 40% jump in net profit for the year.

The annual report released on Monday shows that

In the 2017 fiscal year ending March 31st, 391 million 800 thousand yuan (hereinafter referred to as "Yuan") was 39.5% higher than the 280 million 900 thousand yuan in the 2016 fiscal year.

Bosideng holdings also announced on Monday that the company's executive director, chief financial officer and company secretary Maurin will resign as chief financial officer and add the post of general manager of women's clothing division.

For the pformation of maiyun's position, Bosideng Holdings said that since its listing, the company has been actively looking for suitable opportunities to extend its business to the field of non down garments and diversify its business to reduce its dependence on seasonal products. In the past this year, Bosideng holdings purchased and gradually expanded women's clothing business, while Mai Yun Quan has been highly involved in related acquisitions. Therefore, the board of directors of the company believes that the pformation of its duties will help strengthen the group's development and expansion of women's clothing business.

In regard to job pition and company performance, Mai Yun Quan said at the Bosideng holdings performance conference call, in March this year, the company acquired two new ladies' brands, Correa Nor (Koreano) and Koroba (Klova). It is expected that with the existing brands, women's clothing in 2018 fiscal year will replace the OEM management business and become the second largest contributor to the group's profits.

Bosideng's acquisition of Correa Nor (Koreano) and Koroba (Klova) continues to strengthen non down business.

According to no fashion Chinese network data, Bosideng holdings at the end of March to spend 660 million yuan acquisition has

The 100% issued shares of Correa Nor and Koroba's Xinyue Garments Co., Ltd., and 20 million yuan, acquired 100% of the two production agents of the two brands: Tianjin Garments Co., Ltd.

Correa Nor is a domestic high-end women's clothing brand, located in the 25-35 year old urban white-collar, and Koroba's sales target is 30-40 years old intellectual women, as of December 31, 2016, two brands have 123 Direct stores.

According to Boston holdings trading statement, Xinyue group made a profit in the 2016 fiscal year, and recorded a net loss of 190 million yuan from 2015 to net profit of 10 million 938 thousand yuan, with a total assets of 505 million yuan.

According to the purchase agreement, the Seller guarantees that the net profit after tax in the 2018 fiscal year of Xinyue group will be no less than 70 million yuan, otherwise the net profit margin should be recovered to the buyer.

The group of joie group, Ltd., is a company with 100% stake in Zhou Mei and Zhou Mei. It is also the main shareholder of Bosideng's women's clothing brand Jesse Garments Co., Ltd.

At the Boston holding's earnings conference, Mai Yun Quan said that the domestic women's clothing market was not too affected by the economy, and the consumption power was steady. The company was optimistic about the development of women's clothing and was interested in introducing more overseas brands to the mainland. He also revealed that the company's women's clothing was lower than men's wear, but the profit rate exceeded men's wear.

Bosideng feather cashmere business brand performance

In the two consecutive years of soaring profits, Bosideng holdings income in 2017 fiscal year also stabilized, recorded a rise of 17.8% to 6 billion 816 million 600 thousand yuan, which mainly benefited from the growth of brand down clothing business and non down garment business.

In the 2017 fiscal year, Bosideng control down clothing business income was 4 billion 579 million 200 thousand yuan, an annual increase of 15.1%, accounting for 67.2%, OEM manufacturing business income of 777 million 700 thousand yuan, a year-on-year fall of 21%, accounting for 11.4%, non

The proportion rose to 21.4%, and income surged 76.7% to 1 billion 459 million 700 thousand yuan over the same period.

As Bosideng holdings continued to optimize the retail network, while KangBo brand quit the down garment market, the sales of down coats in the 2017 fiscal year decreased by 979 to 4292. Among them, the retail outlets of self operated and third party distributors decreased by 320 and 659 to 1374 and 2918, respectively, and third outlets respectively, accounting for 32% and 68% of retail outlets respectively.

The large increase of non down garment business mainly benefited from Bosideng men's clothing and the new acquisition of Bao Bao's business. During the period, Bosideng men's clothing income was 329 million 800 thousand yuan, soaring 77.2%; Bao Bao's income was 298 million 500 thousand yuan; and the company's stripped Mogao business income was 248 million 400 thousand yuan, or 15.9%.

Bosideng brand London flagship store is reported to have completed its business.

In the 2017 fiscal year, Bosideng holdings also suspended its international business. In January this year, it ended the Bosideng flagship brand London flagship store, and plans to lease the property and wait for the right opportunity to redevelop.

The company said that in recent years, the British store has provided valuable overseas retail experience for the company, and has enhanced its reputation in overseas markets and financial circles.

On the eve of the London Olympics in 2012, Boston holdings purchased a property in London for 35 million euros, trying to test the water in the international market.

However, in 2012, it was a turning point in the global retail industry. First, the luxury industry went into recession, and then the traditional retail industry collapsed. So the international expansion of Bosideng holdings could catch up with the worst.

For the closure of the British flagship store, Bosideng explains mainly about the issue of return on investment and economic uncertainties.

As of March 31, 2017, Bosideng holdings recorded a gross profit margin of 3 billion 163 million 200 thousand yuan, an increase of 21.2% compared with the same period last year, and the gross margin increased by 130 basis points to 46.4%, of which the gross profit margin of the brand down garment business rose by 110 basis points to 51.1%, mainly due to the company's continuous clearance of inventory and the promotion of space. The gross margin was higher than that of the high-tech products, and the gross price of the non down garment business was 45.7%, a drop of 500 basis points.

In the 2017 fiscal year, the company's operating profit almost doubled, surged 95.5% to 660 million yuan, operating profit margin 9.7%, soared by 390 basis points.

Boston holdings intends to send 0.5 Hong Kong cents at the end of the year.

Bosideng is the largest and most advanced brand down garment manufacturer in the country. It is mainly engaged in the development and management of its own down garment brand, including product research, design, development, raw material procurement, outsourcing production, marketing and sales.

Its brands include "Bosideng", "snow flying", "KangBo", "ice cleaning", "ice flying", "Yu Yu" and "

"," Ricci-Club women's clothing "and so on.

Bosideng group was founded in 1976 in Changshou City, Jiangsu Province, the founder of the brand and chairman of the board of directors is the national model worker, the tenth, eleven and Twelfth National People's Congress, the founder of the cause of socialism with outstanding Chinese characteristics, Mr. Gao Dekang, a well-known entrepreneur.

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