Pathfinder executives flock to reduce front too long increase risk

In March, 4 executives, led by Pathfinder President Peng Xin, sold their shares several times, involving an amount of over 120 million yuan. The move sparked concerns about a drop in its 2013-year performance (relative to the 2013-year performance letters). In January this year, Pathfinder released performance letters, 2013, the company achieved total operating income of 1.45 billion yuan, an increase of 30.7%, net profit of 250 million yuan, increased by 47.6%. In fact, with the increasing competition in outdoor products industry, Pathfinder integration and multi-brand focus on the operation of the strategy for the Pathfinder to bring more space for the explorer at the same time, the investment risks involved in the rapid amplification. Cross-border online tourism, as an influential outdoor brand, has developed rapidly in recent years and started to "net". This January 14, Pathfinder announced the strategic investment in Beijing Green Horizon Information Technology Co., Ltd. (hereinafter referred to as "The Wizard of Oz"), and eventually indirectly hold 55.67% of the green net stake. February 20, Pathfinder issued a notice that is intended to 19.24 million yuan to buy Asiatravel company 20 million shares, accounting for the latter's total equity of 7.07%. In addition to the 14.15% stake subscribed for a year ago, Pathfinder has accumulated a stake in asiatravel21.22% and the position of the largest shareholder has been more stable. Founded in 1998, the Green Net is China's first and currently the largest outdoor travel network platform. Asiatravel is Singapore's Kelly board (similar to the domestic gem) listed companies, is a hotel, air tickets and tourist attractions in a timely manner confirmed in one of the online tourism platform, services include the Asia-Pacific and the Middle East 17 countries and regions. Through the holding of the green and investment Asiatravel, Pathfinder hope that the products, users, platforms to get through the three areas for future development to create greater space. But in fact, the Wizard of Oz's user groups more concentrated in the domestic, and asiatravel in the domestic influence is limited, user groups overlap Limited, 2011 ~2013 years, Asiatravel sustained losses, last year, the loss is as high as 27.64 million yuan. At present, these two investments in the short term will not have a real impact on the revenue of the Pathfinder, the future of the integration of the resources of the parties is not too many bright spots. Li Ning, Anta and other sports brands have entered the field of outdoor supplies, the future of industry competition is inevitable, if the integration is not good, will inevitably have an impact on the main business of the Pathfinder. Multi-brand strategic risk intensified in addition to Cross-border acquisitions, Pathfinder also in recent years has continued to enrich its brand. June 2013, Pathfinder Outdoor Leisure brand Discovery expedition after more than a year of preparation into the online trial operation Stage, the Pathfinder's three major brands, respectively, Pathfinder (focus on hiking, mountaineering and other professional outdoor areas), Discovery Expedition (focus on self-driving, off-road and other outdoor leisure areas), Acanu (ie, Akeno, focus on outdoor cycling and other fields).But "investor" from the Sky Cat, Beijing East and other Internet sales platform found that Discovery expedition and Acanu sales is not satisfactory. For the risk of multiple brand operations, Pathfinder said, "On the one hand, the company chose to set up new brand companies in a number of joint ventures, save capital Investment, and jointly share with the joint venture to develop new business market risk." On the other hand, in order to enable new brands to effectively open the sales market as soon as possible, the company actively carry out new brand sales and promotional activities. "In addition to its adult outdoor products multi-brand strategy, Pathfinder also test water children outdoor supplies." Pathfinder Joint Children's wear brand "Parker Orchid" development of children's wear products will be held March 26 ~ 29th in the 22nd session of China International clothing and Apparel Fair (CHIC) on the launch, Parker LAN Dili is responsible for sales. For multi-brand strategy, the apparel industry is not no precedent, but the promotion of new brands and marketing costs are very large, which will make the original limited resource allocation more tense, and a brand to become well-known brands often need years of cultivation, brand management often bring a ripple effect, in the face of competitors in the push, The operation risk of the long line Pathfinder cannot be neglected. Agricultural products: Agricultural products March 15 announced that April 20, 2013 ~2014 March 13, Life Insurance Co., Ltd. Universal H account and dividend account through the Shenzhen Stock exchange of the centralized auction system to buy agricultural products shares 14.37 million shares and 70.5 million shares, Accounted for 0.85% and 4.15% of total equity respectively. New Huangpu: New Huangpu March 18 announced the announcement, the company on March 17 received Shanghai Zhongke Wealth Management Co., Ltd. Notice: As of March 16, Shanghai Zhongke Wealth Management Co., Ltd. and its concerted action people Shenzhen, China branch Wealth through Network Finance Co., Ltd. through the Shanghai Stock Exchange securities trading system to buy 56.46 million shares of the new Huangpu stock (10.1% of the company's total equity). U.S. apparel: March 18, China clothing investment through the Shenzhen Stock Exchange bulk trading system to reduce the 50.05 million shares of the U.S. state Apparel stock, accounting for the listed company's total share capital of 4.95%. After the reduction, the Chinese clothing investment holdings 710 million shares in the United States, accounting for the listed company's total share capital of 70.2%. Huaxi Energy: March 16, Huaxi Energy Industry Co., Ltd. received a letter from shareholder Rai Hongmei holding more than 5% of the company's shares, as at March 14, 2014, Rai Hongmei through the Shenzhen Stock Exchange bulk trading system and the centralized bidding trading system cumulative reduction company unlimited sales of 8.3 million shares, Accounting for 4.97% of the company's total equity. Rai Hongmei is still a shareholder with more than 5% of the company's shares after the change in the reduction of interest. (Note: The last week is March 13 ~3 month 19th)