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伯希和深耕研发十余年,打造国产户外“堆料王”
Sou Hu Wang· 2025-05-20 03:23
Core Insights - The article highlights the rapid growth of the domestic outdoor brand, Berghaus, which is capitalizing on the outdoor sports trend in China, with a significant increase in revenue and net profit forecasted from 2022 to 2024 [1][6] Company Performance - Berghaus's revenue is projected to soar from 379 million yuan to 1.766 billion yuan between 2022 and 2024, with an adjusted net profit CAGR of 232%, making it one of the fastest-growing brands in the industry [1] - The company has been recognized as the "King of Material" in the domestic outdoor apparel market due to its focus on high-quality materials and technology [1] Market Context - The high-performance outdoor apparel market in China is expected to reach 102.7 billion yuan in 2024, with a CAGR of 13.8%, and is projected to exceed 215.8 billion yuan by 2029 [1] - Berghaus's IPO is seen as a strategic move to become the first stock representing high-performance outdoor lifestyles in China [1] R&D and Innovation - Berghaus has established a proprietary technology platform, PT-China, to enhance product performance and has registered 45 patents by the end of 2024 [2][4] - The company has developed the Storm Breath technology for jackets, achieving high waterproof standards while maintaining breathability, positioning its products competitively against international brands [2] Collaborations and Partnerships - Berghaus has formed partnerships with universities and leading material suppliers to foster innovation and enhance product development [3] - Collaborations include establishing a functional technology innovation application base with Donghua University and a research lab with Beijing Institute of Fashion Technology [3] Investment and Funding - The company has significantly increased its R&D expenditure from 13.56 million yuan in 2022 to 31.46 million yuan in 2024, with a R&D expense ratio of 3.6% in 2022 [4] - Berghaus has attracted investments from notable firms, including Tencent, which invested 300 million yuan in 2025, indicating strong market confidence [5][6] Recognition and Awards - Berghaus has received multiple international design awards, including the Asia Outdoor Equipment Award, and has been recognized as a pioneer in down jackets in China [5] - The brand's innovative capabilities have garnered attention from domestic investment institutions, further solidifying its market position [5][6]