Guide: In fact, there is an indicator that can not only describe the past, but also analyze the future? Crystal ball? . This indicator is inventory. The following is what I bring to you to see the future of listed companies from the financial indicators, hoping to help you.

Whether the listed companies hoard raw materials or produce finished products ahead of schedule, they are actively or passively preparing for the future to some extent, and inventory becomes the pressure or driving force for the company's future performance growth. Let's analyze the inventory behind it through three cases. Secret? .

Luolai home textile: destocking is going on, and the pressure is still there.

When he was a veteran in the textile and garment industry, he said that the income of retail enterprises is only one aspect, and the key indicator that indicates the future is inventory.

? We generally think that it is not good to have too high inventory. Of course, there is also a situation in which enterprises hoard a large number of products because they are optimistic about the market. If the market was good at that time and the company had enough personnel reserves, it could find the blank spot in the market segment at that time like Kappa. Then, it is ok that the growth rate of inventory exceeds the growth rate of income. ?

He said that there is also a degree. The growth rate of inventory can exceed the growth rate of income, but not too much. Because clothing is a fashion product, the sales cycle of women's clothing is about one or two months, men's clothing is two or three months, and home textiles are a little longer. Three to six months. Therefore, enterprises generally keep inventory for two or three months at most, and inventory for more than half a year is often problematic.

In recent years, the textile and garment industry has been in the destocking stage. Luolai Home Textiles has cooperated with two other companies. Home textile three musketeers? It used to have a great time in the capital market, but later, due to inventory problems, its profits fell.

Last year, the operating income of Luolai Home Textiles increased by -7.37%, and the net profit increased by-13.07%.

By the end of last year, the inventory of Luolai home textiles was 685 million yuan, accounting for 25.9% of the total assets, while at the end of 20 12, the inventory of the company was 6180,000 yuan, accounting for 26.4 1%, which shows that the inventory proportion of the company declined slightly.

The company's inventory can be mainly divided into three categories: raw materials, products in process and goods in stock, of which the book value of raw materials is 6.5438+87 million yuan, the book value of products in process is 3.7965438+74 million yuan, and the goods in stock is 460 million yuan. It can be seen that goods in stock account for 67.25% and raw materials account for 27.22%.

Compared with two companies in the same industry, the inventory of Luolai Home Textiles in 20 13 accounted for 27. 15% of the operating income, while Fuanna and Meng Jie Home Textiles accounted for 30.76% and 37.89% respectively.

In fact, when the performance of 20 10 and 2010/home textile industry grew rapidly, the inventory of Luolai home textiles accounted for 18. 17% and 2 1.7% of the operating income respectively. It can be seen that the current inventory pressure still exists compared with before.

Seven wolves: the inventory has increased greatly, and it faces greater inventory pressure this year.

It seems that the whole textile and garment industry is currently in the cycle of destocking, but some are fast and some are slow, but the inventory of some companies is growing.

Last year, the total operating income of the seven wolves was 2.773 billion yuan, which was 20.23% lower than 20 12. The net profit attributable to shareholders of listed companies was 379 million yuan, down 32.44% from 20 12.

In 20 13, the seven wolves, which continued to expand, fell into the dilemma of increasing stores but not increasing profits, and began to close inefficient stores on a large scale, which directly caused excessive inventory and increased the difficulty of cost control.

Due to the recycling of some agents' inventory, among the 20 1 10000 pieces of seven wolves' inventory goods, it increased by15.24% compared with 20 12; Although the proportion of inventory in the company's total assets decreased by 0.6 1 percentage point, the total inventory value rose from 566 million yuan in 20 12 to 657 million yuan, which is still growing.

Judging from the composition of inventory, inventory goods still account for the majority, reaching 6110 million yuan, accounting for 93% of the total inventory, indicating that the company's products have appeared? Slow sales? Inventory pressure is not small.

In fact, under the pressure of the industry, in the fourth quarter of 20 13, the company took the initiative to recycle more inventory, which also increased the inventory to some extent. At the same time, the company accelerated the construction of inventory channels, accelerated the construction of factory stores and discount stores, and opened seven large factory stores during the reporting period.

Analysts believe that in the fourth quarter of last year, the company recovered more out-of-season inventory, which led to a decrease in income and a large amount of provision for inventory impairment, and the profit in the fourth quarter fell sharply.

Under the pressure of high inventory, from the industry point of view, it is generally believed that the company will still be in the process of destocking in 20 14 years.

Chaohongji: The inventory pressure has improved and the week has become faster.

Chao Acer, the leader of K-gold industry, released the 20 13 annual report, showing that the annual income was 2.074 billion yuan, up 3.5 18% year-on-year, and the net profit was 6.5438+076 billion yuan, up 36% year-on-year.

During the year, the company further increased its inventory, and the proportion of inventory to total assets fell to 43.2%, and the provision for impairment of gold inventory was 6.87 million yuan.

By the end of last year, Chaohongji's inventory was 65.438+0.478 billion yuan, accounting for 43.25% of the total assets. In 2065.438+02, the figure was 68. 165.438+0%. It can be seen that in one year, this figure dropped by 24.86 percentage points, and the effect of destocking appeared.

In the company's inventory, the book value of inventory goods accounts for the majority, which was 654.38+0.37 billion yuan by the end of last year, accounting for about 93%.

While reducing the inventory pressure, the company's inventory turnover efficiency has also improved, and the inventory turnover days have greatly increased from 2065438+473 days in 2002 to 355 days.

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