Concealed Millions Of Government Subsidies Were Supervised By The Pathfinder, Or Lost 180 Million In 2018.

The Pathfinder holding group Limited by Share Ltd (hereinafter referred to as "Pathfinder") was issued by the Shenzhen Stock Exchange in February 15th for failing to disclose timely government subsidies.

The regulatory letter revealed that the Pathfinder disclosed the announcement on the company's receipt of government subsidies on the evening of January 31, 2019. In 2018, the company received a total of 14 million 667 thousand and 800 yuan in revenue related government subsidies.

Among them, fourth government subsidies amounted to 13 million 567 thousand and 500 yuan, and the impact on current net profit was about 11 million 532 thousand and 400 yuan, accounting for 13.59% of the absolute value of audited net profit in 2017.

The grant was received in May 2018, but it was not disclosed in time.

According to public information, the pathfinder was founded in 1999, and is still mainly engaged in the design, operation, management and sales of outdoor products. In 2015, it was officially renamed the "Pathfinder Holdings Group Co., Ltd.", and initially completed the organizational structure of the three major outdoor, tourism and sports collaboration groups.

At present, the company has three famous products, Toread, Discovery Expedition and ACANU, and the company is based on Toread.

Road, Discovery Expedition and ACANU (arkannol) are the three major products, which are applied in various ways to promote marketing.

The 2018 performance forecast issued by Pathfinder showed that under the background of macroeconomic downturn and the overall slowing down of outdoor products industry, the main business development of outdoor products industry basically remained stable. The reporting period is expected to achieve operating income of about 1 billion 350 million yuan, and the net profit attributable to shareholders of listed companies is expected to be 180 million yuan ~1.85 billion yuan, mainly based on preliminary test results. The company expects that the accumulated goodwill, investment and asset impairment accumulated in the 2018 year will be over 200 million yuan (the specific impairment amount is based on the official impairment test evaluation report issued by the evaluation agency), and other business losses caused by the main outdoor businesses.

The first quarter results released by the Pathfinder also announced that the net profit in 2019 was 38 million 800 thousand yuan to 45 million 500 thousand yuan in 2019, compared with 22 million 185 thousand and 300 yuan in the same period last year, an increase of 75% to 105% over the same period of 2019.

The Explorer explained that the above forecast is based on the following reasons: as the company focuses on the gradual implementation of the strategic initiatives related to the main industry of outdoor products, the competitiveness of the company's products continues to increase, the brand culture and brand spirit have further enhanced the impact of the user's pmission, and the more experienced offline shop upgrading and pformation is promoted, and the operating income of the reported outdoor goods main industry is expected to increase by about 20% over the same period of last year.

The management of the company continues to strengthen the efficiency of operation and management, reasonably and effectively control various expenses, while the non recurring gains and losses also increase over the same period last year. The overall factors make the net profit attributable to shareholders of Listed Companies in the reporting period larger than that in the same period last year.

Analysts here believe that Pathfinder will focus on resources in the future, increase investment in outdoor products in brand, channel, R & D, enhance product technology content and brand image, and drive store efficiency up year by year.