Xi Dragon Responds To The Theory Of "Listing Fraud"

The mainland sports brand, Xi long, which launched the listing plan in June, originally planned to officially land at the Hongkong stock exchange 5 this week. However, just a week before its listing, he announced the suspension of its listing plan and became the first company to announce the suspension of the listing plan in the second half of this year. What makes the company even worse is that the storm that has recently been accused of infringement by foreign brands has not yet subsided, and a post about enterprises suspected of false lending and listing has once again pushed Xi long to the top of the storm. When the stock market was completed, it suddenly stopped listing in June 27th. In June 27th, the company launched a public offering in July 3rd, and plans to complete the offer in July 3rd. And when everyone thought that the listing of the project was in full swing, last Thursday, the Hongkong stock exchange suddenly announced the announcement that it was suspending the global sale. In the announcement, Xi De Long said that because of "more time needed to consider the current situation" and suspend the sale of its shares, its listing plan was therefore shelved. As for why the company stopped listing and properly restarted the listing plan, the reporter called yesterday Goldman Sachs, Goldman Sachs listed sponsor, Goldman Sachs as a sponsor, making a lot of comments on the bad decisions of the listed companies. All other related information was shown in the announcement issued by Xi long. It is understood that Xi Long lung is engaged in mainland sports and leisure apparel design and wholesale brand, originally planned to issue shares in Hongkong, issued a total of 500 million shares, the price range of 1.38 to HK $1.98 per share, raising funds from 690 million to HK $990 million. According to the prospectus, Xi Long lung forecast net profit of not less than 288 million yuan this year, up 1.14 times compared with the same period last year. According to the issue interval, the price earnings ratio of the issuer is about 8.6 to 12.4 times. In June 3rd, the mainland sporting goods XTEP International (01368, HK) was officially listed on the HKEx. In June 10th, Baosheng International (03813, HK), a sporting goods retailer in the mainland, was also officially launched. However, judging from the performance of the two sports brand stocks after listing, it seems that their financing to Hong Kong is not optimistic. The listing prices of the two stocks are set at the lower price limit close to the stock price, and are more serious after the listing. "In the bear market, the issue of new shares is actually a very normal thing." Ye Shangzhi, the first Shanghai securities market strategist who has been in Hongkong's financial market for more than 10 years, believes that this is mainly due to the bad market. "It is estimated that the timing of the listing is expected to wait for better funding opportunities." Ye Shangzhi said. On the other hand, because of the bad stock market situation, the company is suspending the listing transaction, while the other side is following the idea of "R & D". According to Shi Yanzhao, the chief representative of Ace Kang China, told the daily economic news yesterday that as a result of the fact that the pictures used by public in the public place were suspected of plagiarizing the pictures of Ace Kang's design products, they were recently communicating with headquarters and discussing the prosecution of Xi long. Recently, Ace International (RSscan) introduced that at the scene of the China International Sporting Goods Fair held in Beijing recently, Ace international found that there were many pictures of the adidas-footscan plantar pressure system and pictures of Ace's personalized design products on the technology exhibition board. After that, Ace health workers again registered on the website of the company, and also found many classic adidas-footscan test pictures. Then Ace Kang went to notarization office in Beijing for notarization. "Footscan is a brand owned by RSscan and Adidas. We have never had any cooperation with Xi De long," said Shi Yan Zhao, using the same picture and infringement of pictures. Liu Ming, vice president of XD, said that the infringement pictures presented by Ace were actually from an advertising agency in Beijing. The specific sources and uses of the pictures are under investigation. In the product manuals shown to reporters by Xi De long, it shows that the company's plantar pressure testing system is jointly developed with the Chinese Academy of Sciences. In response to the "rumor of listing fraud", Xi Dalong responded that it was worth mentioning that during the listing period of the Jinjiang stock exchange, a post on the new Hong Kong listed company, "the company was suspected of making false accounts and swindling loans", was widely circulated in various forums. As of press release, the reporter could not contact the relevant poster. For the content of the post, Sun Xiangtao, director of the president's office, said "it's a rumor" and the chairman of the company, Lin Shui pan, replied with "no such thing". In July 4th, the reporter came to the hidalong headquarters of Chen Dai town in Jinjiang, Fujian, and found that the factory was still functioning normally in the capital market. The Secretary of the board of directors, Miss Wang, said that the chairman Lin Shui pan will return to Jinjiang on the afternoon of 5. On the morning of 6, the reporter was told to reject all media interviews on the issue of shelving the listing, and when it was time to restart the listing plan, Liu Ming, vice president of Xi De long, told the daily economic news on the 7 day that he did not know the details of the listing. According to people familiar with the matter, under the tight monetary environment, as a private enterprise, Xi long long has an urgent demand for listed capital raising, and it is estimated that when the market is experiencing a strong rebound, Xi long will probably be re listed. But the pace of business expansion after the change of the listing plan is bound to slow down. The pace of Jinjiang enterprises going public or slowing down the stock price of XTEP since its listing in June 3rd is not satisfactory, and this event has left a shadow on Jinjiang enterprises. In mid June, when reporters interviewed in Jinjiang, some professionals revealed that some of the listed companies in Jinjiang might slow down or even cancel the listing plan because of the downturn in the mainland stock market at this stage. Recently, reporters have learned that the Jinjiang enterprises listed in the non mainland market are more or less showing a wait-and-see attitude. In an interview, reporters learned that the cost of restructuring and the high cost of listing make Jinjiang prepared to raise funds for listing to have a "fear" mentality. Jinjiang's listing office said that some of the companies wanting to go to Hongkong have postponed the listing because the stock market is in a slump and businesses can't sell a good price. Market information shows that Jinjiang Hongsheng rain gear company, which was originally scheduled for listing next year, has reached the edge of restructuring, and decided to slow down the pace of listing.