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Public company info - Xinjiang La Chapelle Fashion Co. Ltd.-H Shares , 06116.HK
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Xinjiang La Chapelle Fashion Co. Ltd.-H Shares, 06116.HK - Company Profile
Chairman Wu Jinying
Share Issued (share) 215,000,000
Par Currency Renminbi
Par Value 1.0
Industry Apparel
Corporate Profile Business Summary: The Group is principally engaged in designing, marketing and selling apparel products in the PRC and Europe. Performance for the year: The Group’s revenue and operating loss for 2019 were RMB7,666.229 million and RMB2,266.447 million, respectively, representing a decrease of 24.66% from its revenue and an increase of 1,394.22% from its operating loss, respectively, as compared with 2018. The net loss attributable to shareholders of the Company for 2019 amounted to RMB2,166.306 million, representing an increase of 1,258.07% as compared with that of 2018. Business Review： Retail Network As at 31 December 2019, the number of domestic retail outlets of the Group were 4,878, decreasing from 9,269 as at 31 December 2018, and were situated at approximately 1,651 physical locations. In addition, due to the acquisition of the brand Naf Naf in France during 2019, for the year ended 31 December 2019, the Group added 586 retail outlets (owned by Naf Naf, as at the date of this report, Naf Naf SAS is no longer included in the Group’s consolidated financial statements) to its retail network in overseas region. Same store sales Due to the adjustments to market structure, certain customers traffic of department stores and shopping centers continued to move to online shopping platforms, causing a reduction in same store customer traffic of clothing enterprises that rely on department stores as their primary distribution channel. Regardless of steps taken by the Group to reduce the proportion of sales from offline stores and department stores, revenue from concessionaire counters still accounted for 42.07% of the total revenue of the Group in 2019, resulting in same store sales of offline channels in 2019 decreased by 24.79%, as compared to that of 2018. Prospects: In 2020 and beyond, it is expected that consumer demands will become more fashionable and personalized and will be increasingly variable, the decline in customer traffic at physical stores and low growth rate will increasingly become the norm, and the competition in the women’s apparel segment will intensify. Against the overall slowdown in market growth, consumers will become more and more rational and will gradually shift from materialistic consumption to service-oriented consumption, and price will no longer be the paramount criteria when making purchases and consumers will no longer be willing to pay for high price premium. The apparel industry will head into an era of striving “extreme price/performance ratio”. At the same time, with the improvement of the logistics and distribution systems and the increase in the number of online shopping users, online retail will maintain rapid growth. From the perspective of segmented channels, due to the further decline in online traffic monetization, growth rate of traditional e-commerce platforms has already peaked, while emerging retail industry is quietly growing. It is expected that new retail channels, such as social e-commerce, content e-commerce and live broadcast platforms, will achieve rapid development. 2020 is a crucial year for the Company’s transformation and development. The Company will proactively and thoroughly implement structure reforms. Under the leadership of the fourth session of the Board, the Company will formulate and implement a series of reforms including the brand system, sales system, and operating system, expand the existing business system through cooperation, authorization, and custody, and promote the optimization and adjustment of the Company’s own brand and channel structure. At the same time, the Company is actively further optimizing the Company's asset-liability structure by effectively revitalizing long-term stock assets, implementing receivable debt restructuring, exploring new retail business models, and increasing cooperation with external superior resources, and effectively improving the Company's overall profitability, striving for turning losses into profits in 2020. The Company plans to take the following major business initiatives 1. Branding The Company plans to establish a joint venture company with the brand management team to establish a mechanism for joint funding, revenue sharing, and risk sharing, inspiring the subjective initiative and operational responsibility of the brand design team. The self-financing business mechanism of the brand company can strengthen the incentive binding of relevant personnel, improve the Company's product development, ordering mechanism, quality control, cost control and other management standards, and promote the Company's business plan and transformation goals. At the same time, the Company will actively use the new retail technology to achieve the accumulation and analysis of terminal sales data, centering on consumer preferences and needs, proactively predict the sales volume and life cycle of commodities, and promote the mode of small batches, multiple styles and fast order tracking. 2. Channels First, continue to close inefficient stores and retain high-quality stores to effectively reduce fixed costs such as labor and rent brought by direct sales pipelines. Secondly, the Company plans to set up a terminal sales platform company, implement a sales custody mechanism that places orders, accounts independently, and bears part of the operating costs in each sales area to promote the transformation and innovation of the terminal business model; and plans to introduce the management team and core employees to the internal business partner mechanism to turn the original "manager" into the future "owner", inspiring the independent management power and sales vitality of the terminal channel to better control the product discount rate and sold-out rate, and improve the Company's sales pricing management level. In addition, the Company will continue to integrate offline retail outlets and online sales channels, actively explore new online retail routes, and continue to improve the Company's omni-channel marketing business system. 3. Supply chain The Company will continue to improve the information system covering the entire process of the industry chain. Through the complete coverage of information from supplier information, product design, warehousing data, logistics and transportation, and goods distribution to terminal sales, the information flow and product control of the entire industry chain will be maintained. Improve the response speed of the Company's supply chain, and use this as a basis to evaluate brand design, suppliers, and terminal sales. Secondly, the Company plans to shorten the management chain by selecting high-quality suppliers to invest in brand companies, establishing benefit-sharing and reward and punishment systems with suppliers, and strictly implementing the elimination of suppliers’ last bit, and improve the cooperation between the Company and suppliers and resource utilization efficiency. At the same time, the Company intends to actively use the policy advantages of the Xinjiang region in the textile and apparel industry, and enhance the integration and coordination of the Company and the upstream of the industrial chain through the Comprehensive service platform and supply chain system of stakeholder. 4. New retail In 2020, the Company will continue to carry out internal and external reforms and innovations around consumer needs, actively deploy new retail business models, continue to improve the internal control system and construction, effectively improve the Company's internal control governance and overall profitability, and strive for turning losses into profits in 2020.

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