Sports Products Are Polarized &Nbsp; China'S Trend And Li Ningqi Retrogression

It is reported that the development of sports goods market in the mainland is polarized.

Until the China trend announced yesterday's 2010 annual results, the six major sporting goods listed companies have published all the operating data.

On the one hand, the mid-range brand performance known as the "Fujian Gang" has been successful all over the world; on the other hand, it has positioned high-end products.

Same store sales growth lagging behind

China's main business is Kappa brand business. Last year, its sales volume was 4 billion 261 million yuan (RMB, the same below), rising by 7.3% a year, and net profit was 1 billion 464 million yuan, rising by 0.3% per year and 25.83 points per share, all lower than that of Bloomberg.

In comparison,

China's new chief executive officer

In fact, China's trend last year has taken the initiative to reduce orders to reduce the backlog of retail pipeline stocks, but the annual report shows that last year's stock days still increased 1 days to 45 days, accounts receivable days increased from 24 days to 37 days, coupled with the same store sales growth is low, the certificate bank is expected that China's trend in retail level sales are not good, distributors pressure is bigger, this year will still hold a wait and see attitude.

Trend third quarter, orders fell 15%

Sandrine yesterday expected that the third quarter of this year will be double digit (15% or so) decline.

Lining also made predictions for his third quarter, but the other second-line brands were more than 20%.

Lining and China both believe that the mainland sporting goods market will upgrade its consumption, and the market demand will shift from the middle to the low end, so the growth will slow down in the current pitional period.

But a few local brands from Fujian obviously disagree with this statement and have great opinions on the "individual brand pushing its own problems to the industry".

However, the overall growth forecast of the six big companies for this year's sporting goods industry is between 13% and 20%, with the lowest trend forecast, low double-digit, Lining forecast 13%, PEAK's highest expected, 20%.

Some investors questioned whether consumers could upgrade directly from the second-line brand to Nike (Nike) or Adidas, and whether the Lining in the middle could be benefited from the trend, which might have a "bridge" in brand positioning.