Economic Observer reporter Ye XinranOn the evening of January 8, the Peacebird (603877SH) issued a performance pre-increase announcement, saying that it is expected that the net profit attributable to the parent company in 2023 will be 4about 1.5 billion yuan, an increase of about 125% year-on-year. It is expected that the net profit deducted from the non-attributable parent in 2023 will be 27.5 billion yuan, compared to -0 in the same period last year$2.7 billion.
In the past two days, Peacebird's stock price has experienced a roller coaster. On January 9, Peacebird opened with a one-word limit, and the stock price reached 1610 yuan shares, market value 762.9 billion yuan, and on January 8, the share price of Peacebird** fell by 907%。
Peacebird said in the announcement that during the reporting period, the company firmly promoted organizational reform, strengthened brand power and product power, strictly controlled retail discounts, accelerated the closure of inefficient stores, and focused on improving the company's operating quality.
It is worth noting that in 2023, Peacebird's revenue will continue to decline. According to the performance pre-increase announcement, in 2023, Peacebird's revenue will decrease by about 9% year-on-year;The revenue decline in 2022 is 2124%。
The increase in profit was due to an increase in gross sales margin and a decrease in operating expenses, which increased by about 6% year-on-year and the latter decreased by about 9% year-on-year.
Although a number of business indicators have been optimized, the problem of how to create increments has not been solved.
In 2023, Peacebird's revenue is not optimistic, 2023.
Revenue in the first, second and third quarters decreased year-on-year96%。
Reducing discounts and controlling expenses is one of the business changes of Peacebird in 2023. In 2023, Peacebird's gross profit margin performance in many quarters was better than that of the same period last year. In addition, Peacebird strictly controls expenses, and in the first half of 2023, Peacebird's sales expenses and administrative expenses are 135 billion yuan, 28.7 billion yuan, compared with the same period last year, a decrease of 31.5 billion yuan, 0$1.9 billion.
In 2023, another big change for Peacebird is that for the first time, Peacebird** business will become the largest revenue**. In the first half of 2023, Peacebird** was the only line among all business lines to achieve positive revenue growth, and the gross profit margin was the highest among all business lines. In the first half of 2023, Peacebird** achieved revenue of 136.6 billion yuan, a year-on-year increase of 219%, accounting for 3802%。The revenue of Peacebird**, Lecho, and Mini Peace children's clothing decreased year-on-year respectively32%, respectively66%。
In the first half of 2023, Peacebird will change the name of its wholly-owned subsidiary, Ningbo Peacebird Fashion***, to Ningbo Peacebird Fashion Clothing***, and the Sun Company, Ningbo Peacebird**Marketing***, to Ningbo Peacebird Fashion Clothing Sales***In September 2023, Peacebird will change the name of "Peacebird" to "Peacebird".
It is not difficult to see that Peacebird attaches great importance to the first business, and perhaps the future incremental focus is more on the first business.
In 2022, Peacebird submitted its worst performance since its listing, achieving revenue of 860.2 billion yuan, a year-on-year decrease of 2124%；Achieved net profit attributable to the parent company of 18.5 billion yuan, a year-on-year decrease of 7273%；The net profit of non-attributable to the parent company was -26.84 million yuan, a year-on-year decrease of 10516%。
Subsequently, Peacebird made a number of adjustments.
2023 has been a turbulent year for Peacebird. At the beginning of 2023, the "entrepreneurial veteran".
1. Chen Hongchao, known as the "No. 2 position" of the Peacebird, resigned. Prior to his resignation, Chen Hongchao was the second largest shareholder of Peacebird, serving as a director and general manager, holding a 933%。
Since then, Chen Hongchao has issued a number of ** plans, and the latest announcement shows that on January 6, Chen Hongchao's shareholding ratio dropped to 738%, and plans to not exceed 1 of the total number of Peacebird shares in the next 3 months84%。
In October 2023, Peacebird's senior management resigned, and Li Zheng, deputy general manager of Peacebird, resigned as deputy general manager for personal reasons. Li Zheng just joined Peacebird in December 2022, and before that, he served as the vice president of Mousse Health Sleep Co., Ltd. and the general manager of Mousse Classic Business Division.
In 2023, Peacebird launched a large-scale organizational structure adjustment, transforming the original six independent business divisions (** Le Town, Children's Wear, Bird's Nest, and Logistics) and the online operation platform into three functional centers (Product R&D Center, ** Chain Management Center, and Retail Operation Center), aiming to strengthen resource synergy between brands. These adjustments were made under the leadership of Peacebird's chairman, Zhang Jiangping, who said in its 2022 annual report that 2023 would be the year for Peacebird's third venture.
Judging from the specific performance, Peacebird is more shrinking, concentrating resources, and adjusting the pace. In the first half of 2023, all Peacebird's brand stores are shrinking, with a total of 497 net stores, including Peacebird**, Peacebird**, Rakedin and other brands. In addition, the Chinese business of coppolella, an Italian street skateboard brand won by Peacebird in May 2020, has ceased operation in 2023, and there are no product links on Tmall and Douyin platforms.
Although Peacebird's net profit in 2023 has increased significantly, reaching 400 million yuan, this volume is the same as in 2022Compared with the high net profit of 1.3 billion yuan, it is still far away.
Previously, a senior researcher in the field of footwear and apparel told reporters that Peacebird is a relatively effective enterprise in the transformation of China's footwear and apparel industry in recent years, but its style of play is too simple and extensive, that is, to play the joint name to the end. The reason for Peacebird's sluggish growth is that it mistook co-branding as a strategy.
In 2023, Peacebird will continue to reduce sales expenses, management expenses and other expenses, and achieve a turnaround in net profit due to significant adjustments. However, Peacebird still needs to face the problem of how to curb the continuous decline in revenue and how to create increments.