Beijing Sanfo Outdoor Products Co., Ltd. Class A

Beijing Sanfo Outdoor Products Co., Ltd. Class A

SSZSE:002780
14.60
CNY
+0.12
(+0.83%)
0.51EPS
22.03P/E
2.01BMarket Cap
Oct 30Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.9
3.01
3.38
3.99
2.72
3.34
2.71
3.21
3.82
3.59
5.33
5.21
6.09
6.66
Basic EPS, GAAP
0.33
0.29
0.32
0.4
-0.1
0.04
-0.2
-0.45
-0.18
-0.21
0.23
-0.14
0.34
0.55
Free Cash Flow per Basic Share
-0.14
0.14
0.09
-0.04
-1.25
0.06
-0.56
-1.09
-0.36
-0.52
0.2
0.07
0.36
- -
Dividend per Share
0.04
0.08
0.01
0.08
0.06
0.05
0.07
0.05
0.04
0.03
0.04
0.05
0.05
0.1
Book Value per Share
1.84
2.03
2.76
2.98
4.35
4.38
4.07
3.62
4.35
4.14
4.37
4.23
4.78
5.04
Tangible Book Value per Share
1.83
2.02
2.75
2.97
4.34
4.37
3.92
3.6
3.9
3.71
3.99
3.93
4.53
4.82
Basic Weighted Avg Shares
98
97
97
88
129
126
149
145
145
157
159
154
157
162
Sales/Revenue/Turnover
284
292
328
353
351
420
402
467
556
562
846
800
956
1,081
Operating Margin (%)
16.77
14.73
14.22
13.6
1.28
3.59
2.4
3.99
4.23
-0.78
11.91
9.52
13.18
15.49
Depreciation Expense
1
1
1
1
1
3
11
17
51
63
69
66
61
- -
Net Income, GAAP
33
28
31
35
-13
5
-30
-65
-26
-33
37
-21
53
89
Effective Tax Rate (%)
25.58
25.44
25.53
18.71
- -
26.84
- -
- -
- -
- -
27.57
- -
30.41
25.29
Profit Margin (%)
11.47
9.55
9.4
10.01
-3.67
1.2
-7.39
-14
-4.71
-5.86
4.32
-2.69
5.58
8.28
Working Capital
160
178
342
374
532
488
379
244
331
289
327
325
423
454
LT Debt
- -
- -
- -
- -
50
43
33
60
72
89
68
140
116
118
Total Equity
179
198
360
392
635
639
614
552
716
684
707
622
738
780
Return on Invested Capital (%)
17.98
13.55
10.44
8.59
- -
0.62
- -
- -
- -
- -
2.27
- -
4.46
7.85
Return on Capital (%)
19.47
14.38
10.95
9.33
- -
1.32
- -
- -
- -
- -
6.01
- -
6.91
10.2
Return on Common Equity (%)
19.82
14.79
11.04
9.41
-2.51
0.79
-4.83
-11.71
-4.32
-4.92
5.45
-3.17
7.32
11.83

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
199
149
187
LT Borrowings
3
3
3
LT Finance Leases
113
121
116
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
165
165
165
Market Capitalization
2,375
2,523
2,007

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
792
785
807
Cash, Cash Equivalents & STI
143
133
143
Accounts Receivable, Net
31
25
20
Inventories
540
521
516
Total Current Liabilities
370
323
353
Payables & Accruals
- -
- -
- -
ST Debt
199
149
187
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.26%
7.04%
18.66%
Free Cash Flow
362.55%
46.07%
448.6%
Net Income, GAAP
-158.39%
-150.42%
-348.21%
Sales/Revenue/Turnover
12.34%
16.91%
19.41%
Total Cash Common Dividend
58.34%
5.14%
16.4%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
169
159
172
300
800
2025
194
184
- -
371
956
2026
264
263
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.05
- -
-0.19
-0.14
2025
0.08
0.03
- -
0.19
0.34
2026
0.19
0.14
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.01
0.01
0.01
0.05
2025
0.01
0.01
- -
0.03
0.05
2026
- -
0.06
- -
- -
- -

Company Description

CEO
Heng Zhang
Full Time Employees
905
Sector
Consumer non-durables
Industry
Apparel/Footwear
Address
No. 6 Building, No. 1 Yard, Majiapu Road, Fengtai District Beijing BJ China 100192
IPO Date
Dec 8, 2015
Website
sanfo.com
Business
Beijing Sanfo Outdoor Products Co., Ltd (002780.SZ) is a leading China-based retailer of outdoor sporting goods, specializing in the sale of professional functional outdoor products through a multi-channel network encompassing direct management, distribution, online platforms, and offline stores. The company offers a comprehensive range of products categorized into outdoor clothing, footwear, and equipment; these include jackets, pants, shirts, boots, backpacks, tents, sleeping bags, climbing gear, hydration systems, cookware, and tools, marketed under both agency brands such as ARC'TERYX, The North Face (TNF), KAILAS, X-BIONIC, HOUDINI, CRISPI, LA SPORTIVA, MYSTERY RANCH, and DANNER, as well as proprietary brands developed through in-house research, design, and production. In addition to retail, Beijing Sanfo provides outdoor services including event organization, camp training activities, and experiential programs focused on camping, climbing, running, skiing, cycling, self-driving tours, and leisure travel, primarily targeting outdoor enthusiasts across China. Founded in 1997 as a small store near Peking University and listed on the Shenzhen Stock Exchange's SME board in December 2015, the company is headquartered in Beijing, China, with retail operations spanning major cities including Beijing, Shanghai, Nanjing, Hangzhou, Chengdu, Shenyang, Shenzhen, Changchun, Qingdao, and Shijiazhuang. Beijing Sanfo operates within the consumer cyclical sector, specifically sporting goods retail and outdoor services, generating revenue primarily from outdoor product sales (approximately 93% in recent fiscal years) and services, with a workforce of around 913 employees supporting its nationwide store network and e-commerce channels. In recent developments, Beijing Sanfo has focused on strengthening its brand portfolio through long-term distribution partnerships, notably planning 15-20 new X-BIONIC stores (one-third directly operated) and nearly 20 new HOUDINI single-brand stores in 2025, alongside trials for CRISPI single-brand outlets in Shanghai and Beijing. The company continues to emphasize own-brand expansion in sports technology and ice-and-snow products while exclusively operating international brands in China, amid strategic shifts toward premium brand selection and channel optimization following a forecasted net loss in 2024 due to market dynamics. Earlier strategic moves include signing a cooperation agreement with Switzerland's X-BIONIC AG and establishing a 300 million yuan outdoor industry buyout fund with partners to support industry investments.