Pathfinder Expects Net Profit In The First Half Of This Year To Fall By 24% Over The Same Period Last Year.

The company expects net profit of 94 million yuan attributable to shareholders of Listed Companies in 2016 1-6 yuan, down 24% compared with the same period last year.

Plate and travel service plate.

Pathfinder also needs to bear the double pressure from sales growth of outdoor products and the loss of net profit from travel service.

This also means that although there has been a lot of layout in the outdoor ecosystem, there is still no synergy.

Pathfinder expects net profit in the first half of this year to decline 24% to 94 million yuan, compared with 164 million yuan in the same period last year, a slight increase of 1.17% over the same period in 2014.

In the first quarter of 2016, the total revenue of the explorer was 514 million yuan, up 33.87%, the net profit was 72 million yuan, 23.9%, and the cash flow of the operating activities was -1.3 billion yuan.

In fact, the successive drop in net profit has become the norm.

As the first share of the domestic outdoor products industry, the Pathfinder has been listed since 2009, and its operating income has increased from less than 300 million yuan to more than 3 billion 800 million yuan.

In 2015, the operating income reached 3 billion 808 million yuan, up nearly 121.99% compared to the same period last year, but net profit was 263 million yuan, a decrease of 10.5% compared with the same period last year.

Some brokerages predict that in 2016, Pathfinder revenue and net profit growth will be single digits.

Once the main business outdoor products sales are now

Drag.

Pathfinder said that in the first half of the year, the company effectively implemented the inventory optimization plan, greatly reduced the futures purchase, strengthened the inventory clearance, and further optimized the terminal store's display, product mix and other operations management, making the outdoor goods sector stable, and the overall revenue in the first half of the year increased by about 1%.

At the same time, due to increased efforts to clean up the over season inventory, the company's gross margin of sales declined year-on-year.

At the same time, the impact of the merger of four franchisees in December 2015 led to a sharp rise in the cost of the retail terminal of the Pathfinder, which made the net profit of the outdoor sector in the first half of the year decreased significantly compared with the previous year.

Pathfinder said that in the second half of the year, the company will continue to strengthen its inventory optimization, while further strengthening its operational capabilities such as quick reordering, replenishment and flexible supply chain.

We hope to complete the target of reducing inventory by 25% by the end of the year, and expect to recover in 2017.

The travel service sector, which has been gradually deployed since 2013, is still in training and can not contribute to net profit.

Pathfinder said that in July 2015, the company made a significant contribution to the company's business income in the first half of this year because of the strategic investment made by the company in the first half of this year (the company's travel service sector contained only the operating data of the green field and the operating data in the 4-6 months of 2015), and the proportion of business receipts accounted for about 37% of the total revenue of the company, which initially showed the synergistic effect of travel service and outdoor products.

In fact, compared with the composition of revenue in 2015, the proportion of tourism service sector declined, and the outdoor business group plate achieved a total revenue of 1 billion 807 million yuan in 2015. The travel business group realized 2 billion 4 million yuan in 2015, which has surpassed the former.

However, the Pathfinder has not wavered in the idea of throwing money into the tourism service sector. At the beginning of last month, the Pathfinder announced the completion of the fixed increase, and the 1 billion 270 million yuan will be used in the Pathfinder cloud project, the green field outdoor travel O2O project, the outdoor goods vertical electricity supplier project and so on.

This non-public offering is the first increase since the Pathfinder went public, but compared with last year's issuance plan, the total amount of fund-raising has nearly halved.

As far as the current situation is concerned, the outdoor products sector is the cornerstone business of the Pathfinder group at this stage, and also the main source of profits.

Due to the business development and pformation period, the travel service sector only contributes to the revenue and the net profit is losing money strategically. The sports sector is still in its infancy. On the whole, if the three plates are to form a coordinated development trend, it will take some time to run in.