Lady Fashion Fashion Brand, Self Channel Performance Stable

According to the world

Shoes and hat nets: Limited by Share Ltd (hereinafter referred to as "long Zi stock"), released the first quarter performance report in 2017 on April 27th night. During the reporting period, the company achieved operating income of 536 million 10 thousand yuan, an increase of 101.28% over the same period, 35 million 130 thousand yuan in net profit attributable to the parent company, an increase of 29.79% in the same ratio, and a basic earnings per share of 0.0878 yuan, up 29.69% over the same period last year.

Weighted return on equity 1.39%.

The net profit of the first half is 49 million 920 thousand yuan to 61 million 440 thousand yuan, compared with 38 million 400 thousand yuan in the same period last year, an increase of 30% to 60% over the same period last year.

The above prediction is based on the following reasons:

On the basis of this, we should actively expand the fashion related industries such as green baby, medical beauty and cosmetics. With the expansion of business scope, business revenue and business performance will gradually increase.

Li Jie, an analyst at Everbright Securities, believes that the women's clothing business of the group is stable, and is expected to benefit from the high-end consumer recovery. Analysis shows that since the three quarter of 2016, a number of international luxury brands reported that the income side had been warmer, while luxury sales warming mainly benefited from 3 aspects: the narrowing of domestic and international prices of luxury goods, the weakening of anti-corruption efforts and the impact of real estate on the overall consumption structure.

If the reason is established, the latter two factors are expected to gradually pmit along with the consumption stalls, and high-end clothing may take the lead.

　　在李婕看来，朗姿股份是国内3家高端女装A股上市企业之一，近期销售情况也呈现部分好转迹象：1)、从业绩端来看，公司主业高端女装2014年以来持续调整，收入、净利呈现下滑态势，2016年女装实现收入9.77亿元、净利润接近1000万元，全年收入降幅14.49%、较2016年上半年的16.98%已有所收窄;2)分终端销售来看，2016年自营业务逐步趋于稳定、2016年4季度以来终端销售同比增速达两位数、2017年1-2月延续增长态势、显示复苏态势初现，经销业务因调整存在滞后仍有所下滑;3)从产品结构来看，2015-2016年两年去库存工作推进力度较大、两年内整体女装存货规模减少1.16亿元、降低17.45%，过季库存占比下降明显，且公司在奥特莱斯渠道、线上渠道等开始积极投放新品，显示去库存压力减轻、2017年轻装出发，同时可优化产品结构、提高经营效益;4)从店效来看，2016年总体店效有所

Growth, major brands

In 2017, the strategic plan was to expand the Rhine brand which ranked second in the women's clothing market in 5, and to focus on the three or four line cities, widening the price band and opening up new markets.

On the whole, women's clothing is in the process of bottom building stabilization, which is expected to benefit from the pmission of luxury luxury. The overgrowth of major brands in 2017 has intensified. It is expected that the income and net profit will be greatly improved in 2017, and the gross margin rate will also rise as the end of stock work and the proportion of new products.

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