On the evening of September 9, Peacebird disclosed its refinancing plan. This time, the company plans to issue convertible bonds to raise no more than 800 million yuan, which will be used for technology digital transformation projects and supplementary working capital. The two major projects plan to use the raised funds respectively. The capital shall not exceed 650 million yuan or 150 million yuan.
The reporter noticed that as a leading domestic fashion clothing brand, Peacebird has strengthened its determination and direction of digital transformation and reform in recent years. Especially in the great test of the epidemic, the sales performance of the company’s online channels that have been deployed for many years has been outstanding, and the initial results of the changes have been fully demonstrated.
The interim report shows that in the first half of this year, Peacebird’s operating income and net profit after deducting non-recurring gains and losses were 3.217 billion yuan and 55.8657 million yuan respectively, a year-on-year increase of 3.11%. 127.68%. Among them, the net profit after non-exclusion in the second quarter was 92.1398 million yuan, an increase of nearly 15 times year-on-year.
During the reporting period, while offline store operations were greatly affected, Peacebird’s online channels achieved operating income of 1.124 billion yuan, a year-on-year increase of 25.64%, accounting for the proportion of current revenue Reaching 34.95%, an increase of 6.27 percentage points from the same period last year. The rapid growth of e-commerce retail helped the company achieve performance improvement against the trend in the first half of the year.
1 Invest more than 700 million in digital transformation of technology
With ” Peacebird, a well-known domestic clothing brand with a phased development goal of “becoming the first choice fashion brand for Chinese youth”, has formulated three major development strategies of “focusing on fashion”, “digital drive” and “full network retail” on the road to technological digital transformation. Among them, as the company’s core development strategy, digital drive is an effective tool to achieve the transformation and upgrading of the traditional operating model, and is also the only way to realize the company’s great vision.
In this context, Peacebird will use capital power to accelerate digital transformation. On the evening of September 9, Peacebird disclosed its convertible bond issuance plan. The company plans to issue convertible corporate bonds to raise a total of no more than 800 million yuan, which will be used for technology digital transformation projects and supplementary working capital.
Among them, the technology digital transformation project is the main implementation project of this fund-raising. The total investment of the project is 714.8 million yuan, and it is planned to use 650 million yuan of raised funds, mainly including consumers. Insight and deep link platform (customer demand insight, live broadcast sharing projects, fashion wear and precision marketing projects, etc.), supply chain operation efficiency improvement platform (precise product research and development, intelligent supply chain upgrade, intelligent product allocation and replenishment, etc.), basic Guarantee support platform (information security, ERP upgrade, hybrid cloud project construction, etc.).
Peacebird stated that the technology digital transformation project helps the company realize the transformation and upgrading of traditional operating models and methods, and build the company’s digital operation and management capabilities. This project helps to gain timely insight into consumer needs, improve the accuracy of design and development, improve the efficiency of rapid supply of goods, carry out more precise marketing, retail and direct contact with consumers, and solve the industry problem of “high inventory and high shortages”. Promote high-quality and sustainable development of the company.
After the successful implementation of this project, it is expected that the company’s online revenue proportion will be increased faster, inventory turnover days will be greatly shortened, the number of effective members will grow rapidly and brand stickiness will be enhanced. Sustainable profitability and operational quality will be significantly improved.
In addition to increasing the digital transformation of technology, Peacebird will also use 150 million yuan of raised funds to supplement the company’s working capital, provide strong financial support for the company’s daily operations, and help optimize the company’s asset structure and enhance the company’s solvency. and operational capabilities to reduce the company’s financial risks.
2 Online channels have outstanding advantages during the epidemic
With contemporary young consumers as the main sales group Peacebird, during the epidemic in the first half of the year, showed retrograde and anti-fragile organizational vitality. While promoting the rapid growth of e-commerce retail, it also increased its efforts to promote new retail business, quickly restored the retail performance of offline stores, and achieved revenue deductions. Net profit doubled.
The interim report shows that in the first half of this year, Peacebird achieved operating income of 3.217 billion yuan, a year-on-year increase of 3.11%; net profit of 121 million yuan, a year-on-year decrease of 8.53%; excluding non-recurring gains and losses The final net profit was 55.8657 million yuan, a year-on-year increase of 127.68%, which better reflects the resilience of the company’s main business in the test of the epidemic.
“The COVID-19 epidemic has tested the initial results of the company’s reform, confirmed the correctness of the company’s reform direction, and accelerated the company’s reform process.” Peacebird said.
Especially in the first quarter, offline stores were unable to operate normally, resulting in net revenue and profit falling by 16.66% and 89.89% year-on-year, and the net profit after deductions turned from profit to loss of 36.2741 million yuan. Under such circumstances, Peacebird recovered quickly in the second quarter of this year. Its single-quarter net profit was 1.834 billion yuan and 11.2 billion yuan, a year-on-year increase of 25.56% and 146.73%. The net profit after non-deduction was 92.1398 million yuan, a year-on-year increase of 99.0653 million yuan, an increase of 1485.01%. , becoming the company’s largest growth improvement in the second quarter in the past five years.
The reporter noticed that due to the epidemic, the offline business of many clothing brands has been greatly negatively affected, but Peacebird relies on its outstanding e-commerce channels to achieve rapid growth in online retail sales.
Data show that in the first half of this year, Peacebird’s online revenue reached 1.124 billion yuan, a year-on-year increase of 25.64%, and online revenue accounted for 34% of the company’s total revenue..95%, an increase of 6.27 percentage points compared with the same period last year. Among them, offline channels grew by 12.32% and online channels grew by 35.31% in the second quarter.
From the perspective of offline sales, in the first half of this year, Peacebird’s offline channel operating income reached 1.954 billion yuan, a year-on-year decrease of 10.42%, mainly due to the impact of the epidemic offline in the first quarter. Larger, but a significant improvement from the 29.48% decline in the first quarter.
Peacebird further introduced that in the first half of this year, the company combined the macroeconomic situation and market changes during the epidemic to focus on increasing store profitability and improving operating quality. During the reporting period, the company opened 63 new directly-operated stores and 183 franchise stores; closed 118 directly-operated stores, 321 franchise stores, and 3 joint-venture stores, resulting in a total of -196 net stores across the brand. As of the end of the reporting period, the company had 4,300 offline stores.
It is worth noting that Peacebird continues to use product data systems and AI intelligent technology in product management to achieve flexible supply of spring models that year, reducing inventory risks from the source; Men’s Wear has further expanded the pilot scope of product AI allocation, effectively improving product turnover efficiency.
As of the end of the first half of the year, the original value of Peacebird’s inventory was 1.976 billion yuan, a decrease of 1.25% from the same period last year and a decrease of 4.08% from the beginning of the year. While the company’s operating income increased, The original value of commodity inventory continues to decrease. </p
