Group 1: Company Overview - Sanfo Outdoor has three main business directions: retail of high-quality outdoor sports products, organization of outdoor activities, and construction and operation of outdoor camps [1] - The company operates 36 direct chain stores and sells nearly 400 brands, including its own brands: SANFO, SANFO PLUS, KIDSANFO, and AnimaQing, covering 83 product categories [1] - Sanfo organizes over 1,000 outdoor activities and events annually, with participation exceeding 100,000 people [1] Group 2: Market Potential - The outdoor sports industry in China has significant growth potential compared to developed countries, with current per capita income levels similar to the U.S. in the 1960s and 70s [2] - The estimated investment for urban parks is around 10-20 million RMB, while comprehensive projects in Beijing may require approximately 200 million RMB [4] Group 3: Camp Development - The company is currently planning and designing camps for over 10 tourism complexes and has conducted site assessments for multiple camp locations [3] - The operational model for camps will balance self-construction and brand partnerships, with a focus on high-quality locations [3] Group 4: Financial Performance - The company expects a profit of 2-19 million RMB for the year, despite a loss of over 7 million RMB reported in the third quarter [5][6] - The company’s debt has increased due to short-term loans, but it anticipates improvement as business expands [6] Group 5: Product Strategy - The self-owned brand currently accounts for about 4% of total sales, with plans to increase this to a maximum of 20% in the future [5] - The company aims to enhance the experience in existing stores and integrate online and offline sales channels [5] Group 6: E-commerce Growth - The e-commerce business has seen a growth rate of 48% last year, with consistently high growth in recent years [7]

Group 1: Company Overview - Sanfu Outdoor was established in 1997, focusing on outdoor products and gradually transitioning from independent street stores to shopping centers [3][4] - The company went public in 2015 and has opened 20-30 professional outdoor stores from 2005 to 2013 [3][4] Group 2: X-BIONIC Brand Acquisition - Sanfu Outdoor acquired the Swiss high-end sports brand X-BIONIC for 10.295 million Swiss francs (approximately 78 million RMB) in September 2020 [3][4] - X-BIONIC has won 83 Plus X awards and 40 Red Dot awards, with over 800 international patents [2][3] - The brand is expected to become a core development strategy for Sanfu Outdoor, focusing on high-end functional sports apparel [3][4] Group 3: Market Strategy and Challenges - The company plans to enhance its offline sales channels in high-traffic areas and develop the X-BIONIC brand through e-commerce and large customer sales [6] - The impact of the pandemic led to a significant decline in store operations, but by October 2020, offline sales had recovered to 95% of previous levels [4][6] - The company aims to achieve profitability in 2020 and expects significant growth in 2021, coinciding with the Winter Olympics [6] Group 4: Future Development Plans - Sanfu Outdoor is investing in the "Squirrel Tribe" parent-child outdoor park project, targeting cities with populations over 3 million [4][5] - The company plans to open approximately 10 brand stores in high-end shopping centers and 3-5 flagship stores [5][6] - The expected annual visitor count for existing parks is around 400,000 to 500,000, with plans to increase this to 700,000 to 800,000 [4][5]

投资者关系活动记录表 证券代码：002780 证券简称：三夫户外 北京三夫户外用品股份有限公司 投资者关系活动记录表 编号：2019-004 号 | --- | --- | --- | |-----------------------|------------------------------|------------------------------------| | | | | | | √ 特定对象调研 □分析师会议 | | | | □ 媒体采访 □业绩说明会 | | | 投资者关系活动 | □新闻发布会 □路演活动 | | | 类别 | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及 | | 深圳温莎资本管理有限公司 郭晓慧 | | 人员姓名 | | | | 时间 | 2019 年 7 月 19 | 日 10：00-11：00 | | 地点 | 北京市昌平区陈家营西路 | 3 号院 23 号楼三夫户外会议室 | | 上市公司接待人 员姓名 | 董事 / 副总经理/董秘：周春红 | | | 投资者关系活动 | Q ：户外运动市场的发展前景？ | | 投资者关系活动记录表 第三大户外 ...

投资者关系活动记录表 证券代码：002780 证券简称：三夫户外 北京三夫户外用品股份有限公司 投资者关系活动记录表 编号：2018-002 号 | --- | --- | --- | --- | --- | |------------------------------------------------------|--------------------------------|-------------|------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Market Overview - The outdoor sports industry is experiencing a recovery, although the growth in outdoor activities remains relatively slow compared to other sports [1] - The skiing demographic is significantly increasing, with the company opening two new ski stores in 2018, both receiving positive feedback [1] Group 2: Store Performance - The average sales per square meter for new stores is over 22,000 RMB, while the average for all stores is around 15,000 RMB [2] - In 2018, the company opened 6 new stores and closed 3, maintaining a total of 40 stores, with plans to net open 3-4 stores annually starting in 2019 [2] Group 3: Financial Performance - The company's e-commerce sales exceeded 100 million RMB in 2018, with a target of 20% growth for the current year [2] - The self-owned brand sales revenue in 2018 was 37.6 million RMB, accounting for 9% of total sales [3] Group 4: Inventory and Accounts Receivable - Inventory turnover improved in 2018 compared to 2017, with a focus on sales-driven procurement and promotional activities [3] - Accounts receivable primarily comes from large customer (bulk purchase) sales, which accounted for approximately 15% of total revenue in 2018 [3] Group 5: Brand Development - The company established a brand development department in 2018 to enhance brand marketing management and leverage modern technology for mobile sales [2] - The company aims to increase the sales proportion of its self-owned brands to a maximum of 30% in the future [3]

Group 1: Company Overview - Sanfu Outdoor was established in 1997, initially focusing on offline independent street stores, and has since expanded to multi-brand outdoor specialty chain stores across the country [2]. - The company transitioned from independent street stores to shopping centers, closing 43 underperforming stores during its business transformation [2]. - Sanfu Outdoor went public in 2015 on the Shenzhen SME Board after a period of poor performance due to business adjustments [2]. Group 2: Business Operations - The main business includes outdoor product retail (both offline and online), event activities, and corporate team-building [2]. - New business initiatives include the "Squirrel Tribe" family outdoor park and mask production in response to the pandemic [2]. Group 3: X-BIONIC Brand Development - In 2020, the company acquired the X-BIONIC brand and related IP for approximately 78 million RMB, aiming to position it as a high-end functional sports brand [3][4]. - The company plans to launch a full line of products by 2021, covering running, skiing, and outdoor activities, with a focus on technology and functionality [3]. - The sales ratio for inner-layer products is currently high, but it is expected to drop to 20% as middle and outer-layer products gain market traction [4]. Group 4: Strategic Goals and Challenges - The company aims to establish X-BIONIC as a successful brand in the sports and outdoor sectors within 2-3 years [3]. - Challenges include maintaining high-end positioning while rapidly developing the brand, which has been compared to established brands like Arc'teryx [3][4].

Financial Performance - In 2020, the company achieved a revenue of 46,748.78 million yuan, a year-on-year increase of 16.21%, but reported a net loss of 6,545.34 million yuan, a decrease of 120.12% compared to the previous year, primarily due to impairment provisions for inventory, long-term equity investments, and goodwill [1] - In Q1 2021, the company reported a revenue of 12,882.16 million yuan, an increase of 76.27% compared to Q1 2020, and a 60.79% increase compared to Q1 2019, indicating a positive business trend [1] Future Development Plans - The company focuses on R&D and sales of high-quality outdoor sports products, organizing outdoor events, and operating the "Squirrel Tribe" outdoor activity park [1] - Plans to open 4-5 new multi-brand flagship stores in 2021, with locations in high-traffic areas [3] Brand Strategy - The X-BIONIC brand is a key focus for the next 2-3 years, with the goal of establishing it as a successful brand in the sports and outdoor sectors [3] - In 2020, X-BIONIC generated nearly 50 million yuan in revenue, with a target of 150 million yuan for 2021 and 450 million yuan for 2022 [4] Market Positioning - The outdoor products segment accounts for nearly 80% of the company's revenue, with self-owned brands and agency brands expected to increase from 8% to 20-40% due to the growth of X-BIONIC [4] - The company is leveraging the Winter Olympics to enhance brand visibility and has opened 4 ski stores in key locations [3] Shareholder Information - The major shareholder's equity pledge was approximately 100 million yuan, primarily used for company investments, with 30 million yuan remaining to be repaid [5]

投资者关系活动记录表 证券代码：002780 证券简称：三夫户外 北京三夫户外用品股份有限公司 投资者关系活动记录表 编号：2021-003 号 | --- | --- | --- | --- | --- | --- | --- | |--------------------------|--------------------------------|------------------------------------------------------------------------|-----------------|--------------|----------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

投资者关系活动记录表 编号：2021-004 号 √ 特定对象调研 □ 分析师会议 □ 媒体采访 □ 业绩说明会 □ 新闻发布会 □ 路演活动 □ 现场参观 □ 其他 投资者关 系活动类 别 华西证券 唐爽爽 朱宇昊 华泰资管 冯 潇 信达证券 汲肖飞 东吴证券 樊 荣 华金证券 王 冯 中泰证券 陈 泉 申万宏源 求佳峰 中国人寿 龙宇飞 万林创富 吴振华 安澜资本 陈 辽 殷商资产 陈聚金 时间 2021 年 8 月 30 日 14：30-16：00 地点 北京市昌平区陈家营西路 3 号院 23 号楼三夫户外会议室 上市公司 接待人员 姓名 参与单位 名称及人 员姓名 董事长/总经理：张恒 财务总监：罗向杰 董事会秘书：秦亚敏 一、 三夫户外董事长张恒介绍公司相关情况： 1、X-BIONIC 品牌发展情况 公司于2020年8月正式启动收购"X-BIONIC"、"X-SOCKS"两个核心商标、 34个相关商标、25项专利、4项专有技术等IP所有权项目，截至目前已经完成前 述所有商标、专利及专有技术等IP在中国区所有权的转让交割，已全部过户到公 司名下。现在，公司正在聚合资源着力打造该品牌，主要从以下三个方面 ...

投资者关系活动记录表 编号：2021-005 号 √ 特定对象调研 □ 分析师会议 □ 媒体采访 □ 业绩说明会 □ 新闻发布会 □ 路演活动 □ 现场参观 □ 其他 投资者关 系活动类 别 华西证券 唐爽爽 朱宇昊 泓牛资本 王 聪 锦洋投资 方 舟 中域投资 袁鸿涛 陈莲蓉 申万宏源 求佳峰 常瑜资本 贾明杰 首创证券 陈 梦 郭 琦 财达证券 陈晓言 上海银叶 董永杰 华泰资管 冯 潇 朱南钰 中泰证券 曾令仪 东吴证券 樊 荣 信达证券 张 浩 国信证券 关竣尹 华融证券 方曼乔 时间 2021 年 11 月 23 日 14：30-16：00 参与单位 名称及人 员姓名 地点 线上会议 上市公司 接待人员 姓名 董事长/总经理：张恒 财务总监：罗向杰 董事会秘书：秦亚敏 一、 三夫户外董事长张恒介绍公司相关情况： 1、X-BIONIC 品牌发展情况 公司于 2021 年 11 月 10 日与清华大学射击队签署了合作备忘录，作为清华 大学射击队合作伙伴，公司将为运动员、教练员提供 X-BIONIC 功能产品，双方 将成立 X-BIONIC 联合研究小组，设计改进研发适合射击运动需要的新产品，以 投资者关 ...