Last year, Outdoor gear design and retailer Pathfinder saw its first drop in net profits since listing on chinext in 2009. According to its recently released 2015 financial report, last year achieved revenue of 3.808 billion yuan, a year-on-year increase of 121.99%, and net profit of 263 million yuan, a year-on-year decrease of 10.5%.

Pathfinder said in its financial statement that the negative net profit growth was mainly due to the fierce competition in the outdoor goods market and the grim overall situation in the industry. Meanwhile, after the expansion of the new travel business, the sales, operation and management expenses increased by more than 20%, resulting in a negative net profit of the department. According to the information published in its financial statement, Pathfinder's outdoor business revenue was 1.807 billion yuan, with a net profit of 287 million yuan, and its travel business revenue was 2.004 billion yuan, with a net profit loss of 22.8557 million yuan. Not only that, pathfinder is also facing considerable inventory pressure, with about 1.18 million units in stock at the end of last year, and a growing inventory of off-season products. Pathfinder's profitability showed no sign of improving in the first quarter, with net profit falling 23.9% from a year earlier.