Semir Apparel: Open Source Securities Research Institute, Morgan Stanley and other 44 institutions investigated our company on October 30

On November 1, 2021, Semir Apparel (002563) announced that: Yang Yudong of Kaiyuan Securities Research Institute, Xia Yicong of Morgan Stanley, Fan Rong of JPMorgan Chase, Zhu Jieyu of Everbright Securities Research Institute, Sun Meng of Huajin Securities Co., Ltd., Ma Rong of Changjiang Securities Co., Ltd., Zheng Yikun of CITIC Securities Co., Ltd., Jia Yuhao of Xingtai Investment Management Co., Ltd., Zhan Luyu of Zheshang Securities Co., Ltd., Guo Qi of Capital Securities Co., Ltd., Zhou Xuan of Orient Securities Co., Ltd., Sheng Kai of Haitong Securities Co., Ltd., Tang Shengjiao of Tianfeng Securities Co., Ltd., Lingyi Zeng of China International Capital Corporation Limited, Cheng Chao of Chunshu Capital Management Co., Ltd., Wang Feng of Huajin Securities Co., Ltd., Hou Ziye of Guosheng Securities Co., Ltd., Chen Linyun of Soochow Securities Co., Ltd., Tong Rui of Capital Securities Co., Ltd., Tang Shuangshuang of Huaxi Securities Co., Ltd., Claire Yu Point 72, Zhijian of Cathay Fund Management Co., Ltd., Yang Shan of Tengyue Fund Management Co., Ltd., Tianfeng Securities Co., Ltd. Chai Bicheng, China Merchants Securities Co., Ltd. Liu Li, Tianfeng Securities Co., Ltd. Sun Haiyang, CITIC Construction Investment Securities Co., Ltd. Wei Zhongtai, Yinwan Capital Asset Management Co., Ltd. Yu Tao, CITIC Construction Investment Co., Ltd. Yuan Xudong, Zhongtai Securities Research Institute Chen Quan, Dongxing Securities Co., Ltd. Liu Tiantian, Everbright Securities Co., Ltd. Sun Weiwei, Guosheng Securities Co., Ltd. Yang Ying, Changjiang Securities Co., Ltd. Yu Xuhui, Guosen Securities Co., Ltd. Chen Yaorong, Huili Fund Management Co., Ltd. Liao Xinyu, Guotai Junan Co., Ltd. Zhang Aining, Huatai Securities Co., Ltd. Luo Yixin, Huatai Securities Co., Ltd. Jennifer, GF Securities Co., Ltd. Xie Xiaoxiao, Zhongtai Securities Co., Ltd. Wang Yusi, GF Securities Co., Ltd. Mi Hanjie, Orient Securities Co., Ltd. Zhao Yuefeng, Open Source Securities Research Institute Lv Ming on October 30, 2021 to investigate our company.

The main contents of this survey are:

Q: Brand marketing campaigns

A: At the beginning of this year, Barabala, as the exclusive authorized brand of China's Mars Exploration, planned a "Child Talking to Mars" campaign, which received a good response. In September this year, Semir brand held a "through the comfortable environment" show in Chaka Salt Lake, released SMARTECH series of winter functional products, through the heat function and other scientific and technological sense for new youth to create a comfortable winter experience, the activity also received good traffic praise and influence, and then promoted the sales of Semir brand. Since the beginning of this year, all the marketing activities under Semir Apparel have achieved online and offline global linkage. A number of fashion shows held in September were broadcast live to consumers, enabling buy-and-see. The company's progress in the live broadcast business has been good this year, and the overall online business has maintained a growth of 16.44% under the comparable caliber, and the overall growth trend is relatively stable.

Q: The impact of raw material prices

A: For decades, upstream enterprises have partially solved the cost changes brought about by the rise in the cost and price of digested raw materials through refined management and large-scale production, and the other part has been transmitted to downstream terminal products. Recently, the short-term fluctuation of raw material prices is larger, and some of them will be reflected in the terminal hanging price, because the company's products are popular products, reflected in the terminal, the absolute value of price increase is not high, and the impact will not be too obvious. Since the beginning of this year, the pricing rate of the company's products has increased slightly, that is, the price of terminal tags has increased, mainly because of the improvement in the sense of science and technology, advanced technology and product cost performance of the product fabrics, bringing consumers a better wearing experience.

Semir Apparel's main business: clothing design and development, outsourced production, apparel marketing and distribution, products mainly include Semir brand casual clothing and Barabala brand children's clothing.

Semir Apparel's 2021 third quarter report shows that the company's main revenue was 10.021 billion yuan, up 6.04% year-on-year; net profit attributable to the mother was 943 million yuan, up 336.64% year-on-year; deducting non-net profit was 875 million yuan, up 602.21% year-on-year; among them, in the third quarter of 2021, the company's single-quarter main revenue was 3.504 billion yuan, down 5.69% year-on-year; single-quarter net profit attributable to the mother was 278 million yuan, up 42.85% year-on-year. In a single quarter, the non-net profit was 262 million yuan, up 45.97% year-on-year; the debt ratio was 40.4%, the investment income was 64.3168 million yuan, the financial expense was -94.5448 million yuan, and the gross profit margin was 43.15%.

In the past 90 days, a total of 27 institutions have given ratings, 26 buy ratings and 1 overweight rating; the target average price of institutions in the past 90 days is 11.46; the net outflow of financing in the past 3 months is 10.3499 million, and the financing balance is reduced; the net outflow of margin is 3.2043 million, and the balance of margin is reduced. The Securities Star Valuation Analysis Tool shows that Semir Apparel (002563) has a good company rating of 3 stars, a good price rating of 3.5 stars, and a valuation comprehensive rating of 3 stars.