The market value of Anta is 80 billion yuan, and the net profit of Lilang’s mother is 650 million. How many cows are there?

Recently, ANTA Sports and China Lilang, the two leading companies in their respective fields listed in Hong Kong performed strongly.

Anta Sports, which has continued to show strong performance growth, has risen more than 13% since the announcement of the interim report on August 15. The market value has stood at HK$80 billion for the first time and continues to lead the Chinese brand clothing company. At the same time, the performance of the men's leading Chinese Lilang, which has rebounded significantly, opened the repurchase after the announcement of the interim report, resulting in an increase of more than 11% in recent trading days.

As a brother of China's sports industry, Anta has maintained its growth rate of over 20% in 14 years with its own advantages in retail, supply chain and brand management. The specific performance is as follows: Firstly, under the company's own excellent retail, supply chain and brand management, the company's main brand Anta still maintains double-digit performance growth in the field of its popular functional products in the case of Nike Adi's continued overweight Chinese layout. Secondly, the mid- to high-end brand FILA relies on Anta's advantage in the channel supply chain, and still maintains 50%+ growth over the expected performance in the case of half-year revenues of 2 billion. In addition, the famous analyst Ma Li also analyzed that although there are billions of cash in Anta's account, the company did not send a high dividend on the 10th anniversary of the listing, indicating that the company still continues to find its own M&A target in the international market to improve the brand matrix layout.

Ma Li pointed out that matching the continued growth of performance is Anta's continued high valuation and the stock price increase brought by the valuation + performance double-click. The company's share price has risen more than 700% since August 2012. The company's current market value of 83.5 billion Hong Kong dollars corresponds to the current market consensus is expected to be about 25 times. In the future, while maintaining the continued growth of the two brands, we have reason to continue to believe that the layout of the Anta multi-brand matrix and the refined brand management operation capability are expected to continue to consolidate China's leading position in sports consumer goods.

Lilang Group was founded in 1987. After more than 20 years of exploration, it has developed into a leading brand of Chinese business men's wear integrating design, product development, production and marketing. There are more than 3,000 specialty stores in 31 provinces and cities nationwide.

Lilang 17H1 achieved a revenue of 1.022 billion yuan from the main business, down 12.9% year-on-year; net profit was 271 million yuan, up 1.6% year-on-year.

Analyst Ma Li believes that the industry recovery superposition channel adjustment is in place, Lilang Company achieved the same number of units in the same store; the year-on-year decrease in revenue mainly came from the downsizing of the L2 business and the main channel relative to the channel adjustment in the same period last year: the number of the main brand LILANZ channels in the current period was from the same period last year. 2,650 homes were reduced to 2,393 (2017H1 net reduction of 7), which accommodated changes in offline traffic, shopping malls increased to 250, and light business series for first- and second-tier cities increased to 50. Benefits channel optimization adjustment and the overall recovery of the men's wear industry since 16Q4, 17H1 company achieved the same number of units in the same store growth, but due to the overall decline in the number of channels compared to the same period last year + the company to ensure the health of inventory to reduce the impact of spring and summer 2017 sales, the main brand LILANZ income in This period's performance was down 7.9% year-on-year to 1.008 billion yuan.

On the side of the deck, L2 will stop its business in the fall of 17 and has started to clean up its inventory. The 17H1 revenue is worth 14 million yuan (previous year: 0.79 billion yuan).

In addition, as one of the leaders of men's wear recovery, the company has unique advantages in design and development and channel control: in research and development, the company's designer team is led by the original Armani designer, the proportion of original products in the sales of products / the proportion of self-owned fabrics Reaching 68%/36% respectively, the product force continues to lead the industry; although the channel adopts the pure wholesale multi-level agent mode, it has maintained a long-term cooperative relationship with dealers at all levels, and cooperates with the first- and second-level agents respectively. More than 10 years / 3 years; under long-term cooperation, the company has a leading position in store design, display including opening stores, and strong control over the channel; the company's main brand launched in 2016, the main cost-effective, fast fashion, younger (target positioning 85 -90 after the light business series products, in the future will focus on shopping mall channels to follow the changing trend of shopping channels, the 17-year target to expand to more than 100 nationwide, is expected to become a future development.

Ma Li also stressed that considering the high number of units and low double-digit growth in the autumn and winter trade fairs of the previous 17 years, the company's futures accounted for about 70%, which is expected to continue to record the same number of stores in the second half of the year. Growth, providing assurance for annual growth. In addition, after the end of the L2 business, it will no longer have a negative impact on the company's performance. The net profit of the mother in 17/18/19 is expected to reach 6.5/7.3/800 million.

From 2007, Li Lang and Ji Wenbo first landed in Milan Fashion Week in Italy, followed by Carbine and Yang Ziming boarded New York Fashion Week, and in the past three years, the "Wolf Totem" of seven wolves made three consecutive appearances in Milan Fashion in Italy. Zhou, the fashion design of the school has changed from the southeast of China to the world's top brands such as VALENTINO and ARMANI. It has created the most dazzling "Chinese style" in the world of apparel and fashion.

The industry pointed out that the industrial status of Anta, Lilang, Qipiwo, Jiu Muwang and other "闽派服饰" originated from the company's own persistence, breakthrough and continuous innovation on the one hand, and on the other hand, Fujian, especially Shishi's complete industrial chain. Inseparable, "Up to now, even many orders from other industrial clusters such as Bosideng are still produced and processed by Fujian Shishi clothing enterprises, and their quality has won high recognition from domestic and foreign counterparts." Huang Qili, chairman of Huaqi said .

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