Pathfinder Disposal Of Private Property Is A Tough Day For Companies To Reduce Outdoor Supplies.

Recently, the semi annual performance forecast issued by the Pathfinder holding group Limited by Share Ltd ("Pathfinder") shows that as of June 30th this year, the net profit of the Pathfinder belonging to shareholders of listed companies was about 79 million 600 thousand -8450 yuan, an increase of 230%-250% compared with the same period last year. During the reporting period, the company's disposal of its own property is expected to achieve a net profit of about 36 million yuan after tax, accounting for 40% of net profit, while the income generated by its outdoor main business only accounts for 30% of net profit. According to the China Commercial Daily reporter, in addition to Pathfinder, other outdoor brands are also having a bad time. The outdoors and herd of the Sanfo listed companies both suffered the reduction of shareholders this year.

　　 Pathfinder diversified development is blocked

According to the China Commercial Daily reporter, from 2015, outdoor brand Pathfinder began to explore diversified development, carried out a series of investment and M & A activities, and entered the tourism and sports industry in an all-round way, but then the performance began to have problems. By 2017, Pathfinder began to suffer large losses. According to the financial report, the net profit of the Pathfinder belonging to shareholders of Listed Companies in 2017 was -8485 yuan, a sharp fall of 151.24% compared to the same period last year.

Faced with losses, the management of the Pathfinder changed the election. Wang Jing, one of the Pathfinder founders and one of the actual controllers, returned to the Pathfinder and served as chairman and CEO. After taking office, Wang Jing put forward the strategy of "returning to the main business" in the 2017 annual report of Pathfinder.

According to reporter statistics, from 2017 to 2018, Pathfinder has lost more than 200 million yuan. According to the latest regulatory policy, if we lose again this year, that is, three consecutive years of losses, we will directly withdraw from the market. This year, the Pathfinder set up 20th anniversary, which is also the most crucial year for the brand.

A Sino Thai securities analyst, who declined to be named, told reporters that he did not rule out the Pathfinder.

The market has been controversial since the emergence of listed companies' "selling houses to protect their shell". Some investors think that this phenomenon is abnormal and is not worth advocating. Because once this unhealthy trend is formed, more and more listed companies will join the sales team in the future, which will lead to the neglect of the main business or even the neglect of the main business.

　　 Outdoor products industry needs to seize opportunities

China outdoor products market report 2018 shows that last year, the total retail sales of outdoor products continued to slow down, with an increase of only 2.1%, or 24 billion 980 million yuan. This is also the 59.2% consecutive year of growth rate since 2011, the seventh consecutive year growth rate declined.

With the growth of the total retail sales of outdoor products in China, the performance of outdoor products companies such as Sanfo outdoor and animal husbandry has been in a doldrums.

In December 13th last year, the company announced the announcement of shareholders' shareholding reduction plan for outdoor products in Zhejiang, as of July 5th this year. Shenzhen innovation investment group, Zhejiang red earth Venture Capital Co., Ltd. and Hangzhou red earth Venture Capital Co., Ltd. have reduced their shares through centralized bidding.

Sanfo outdoor announced in May 5th this year that the 6.12% shareholder of the company, Shanghai Gold Enterprise Management Co., Ltd., because of its own capital demand, intends to reduce its holdings by no more than 6 million 728 thousand shares by means of centralized bidding, bulk trading or other legal means, that is, it does not exceed 6% of the total shares of the company.

For this case, the above interviewed industry analysts told reporters that combined with historical experience, this situation can be regarded as the current industrial capital, which is not optimistic about the profits of these companies, and investors will be more cautious about the industries and companies with larger net holdings.

A Chinese expert who does not want to be named for cultural, educational, sports and sporting goods says that capital is profitable and requires revenue in a short time. But he is optimistic about the long-term development of outdoor products in China.

He believes that for the outdoor industry, there are many favorable policies, such as "ice and snow equipment and equipment industry development action plan (2019-2022 years)" and "healthy China action (2019 to 2030)" and so on. Relevant enterprises should seize the opportunity to consolidate the main business, enhance the technological content of products, and occupy more markets.