The Market Value Is Shoulder To Shoulder Lining, Shoe King BELLE Carries Tao Bo To Make A Comeback.

In the Hong Kong share sports shoes and clothing enterprises, Anta's sports and Shenzhou International are only worth a hundred billion market capitalization.


On the two day of listing, the stock price has risen by more than 14% compared with the stock price, and the agencies such as Macquarie and Guosheng securities have taken a good look at the development of the latter city, or even have a "better than big city" rating.


Market capitalization exceeds 60 billion


On the one hand, it has 8372 direct store stores in China, and has 11 sports shoes and clothing brands including Nike, Adidas, Puma, CONVERSE, Reebok, Arthur and so on, occupying about 15.9% of the domestic market share.


On the other hand, two years ago, the "generation shoe king" BELLE, which delisted the largest privatization deal in Hong Kong stock market, was the parent company of hEPO international. In addition, the high leverage capital and the large share of CDH investment of BELLE's privatization led the industry to speculate on the fact that the shoe industry was going to retreat.


The Hong Kong stock market is listed on the Hong Kong stock market. The issuing price of the international stock market is HK $8.5 / share, and about 930 million shares are issued worldwide. In October 10th, its stock price climbed all the way, and the highest increase was close to 12%. Finally, it closed at HK $9.25 / share. After opening in October 11th, its share price rose again to the highest level of 9.98 Hong Kong dollars / share. At the closing time, it rose 4.86% to 9.7 Hong Kong dollars / share, and its total market value is now 60 billion 152 million yuan. Anta sports and Shenzhou International, which are next to 100 billion market capitalization in Hong Kong share sports shoes and clothing enterprises, have exceeded the market value of "red fried chicken" Lining 59 billion 100 million yuan, which is more than four times higher than Baosheng international market value of the same type of business.


"Head"


From the comparison of performance, in the Hong Kong stock sports shoes and clothing enterprises, the strength of international competition can not be underestimated.


Take the 2018 performance as an example, in the five head enterprises with annual revenues of over 10 billion, Tao Po international is the only company with a revenue exceeding 30 billion yuan, up to 32 billion 564 million yuan, up 22.65% over the same period last year. Later, it was Anta sports revenue 24 billion 100 million yuan, Baosheng international revenue 22 billion 677 million yuan, Shenzhou International Revenue 20 billion 950 million yuan.


Judging from the net profit of enterprises, Tao Bo international also ranks third in the same industry. In 2018, Tao Po realized net profit of 2 billion 200 million yuan, second only to Shenzhou International's net profit of 4 billion 540 million yuan and Anta sports's net profit of 4 billion 103 million yuan.


In the same year, it also benefited from the growth of sports business revenue from 15.4% to 22 billion 700 million yuan, and BELLE could maintain its revenue growth of 2.2% to 41 billion 700 million yuan in 2018 when the income of traditional shoe shoes fell by 10% to 19 billion yuan.


As far as business is concerned, the biggest advantage of the company is that it is the main retailer of Nike and Adidas. Nike, which has worked with Adidas for 20 years, is the second largest retailer in the world. It has worked with Adidas for 15 years and is the largest retailer in the world.


At present, 8343 direct outlets and 1880 downstream retailers are operating in stores. Nike and Adidas have a single brand store number of up to 6383. In terms of performance, from 2017 fiscal year to 2019 fiscal year, the sales volume of Nike and Adidas accounted for 90%, 89.4% and 87.4% of its total sales revenue. This also means that the quality of international competition will directly depend on Nike and Adidas.


Although Tao Bo international also hints that its retail agreement will be 1 to 5 years, and can not be guaranteed to renew the existing retail agreement with its brand partners, but as the largest sports shoe clothing retailer and service platform in China, it has a large direct store network system covering 30 provinces and 268 cities in China, which has excellent customer acquisition capability and retail advantage. In fact, it will still be the first choice for the cooperation of international sports brands and occupy the advantage of the head. I believe that the cooperation between the two sides will not change much in a short time.


With the continuous warming of the domestic sports market in recent years, as well as Nike and Adidas, which consistently occupy the top two in the domestic sports apparel market share, the industry status of Tao Bo international is expected to remain strong.