Home >

Hundred Round Pants Industry Stock Market Performance Is Not Good Enough For Suspension

2013/12/13 10:32:00 193

??? 日本語 Fran?ais English 中文

Hundred Round Pants Industry Stock Market Suspension Direct Sale

The stock price of 100 round pants industry has been rising since the end of December last year, rising from the lowest 7.77 yuan to 26.79 yuan in November 28th.

The following day, its stock price fell continuously on the six trading day, a drop of 33.32%.

The market is curious about the reason for the collapse of share prices.

On the contrary, the reason for the bizarre ups and downs is that in December 10th, the hundred round trousers industry announced that the use of the proceeds should be changed.

This is the third change in the use of funds raised by the industry in two years.

in fact, the performance of 100 round pants industry has not been good since its listing in 2011.

The third quarterly report shows that the company's net profit in the third quarter was 11 million 944 thousand and 700 yuan, down 20.3% from the same period last year, and net profit in 2013 is expected to decline by 10%-40%.

hundred circle trousers industry has expanded from Shanxi to the whole country and has successfully listed in its "a href=" http://www.91se91.com/news/list.aspx ClassID=101112107108 "franchise plus /a" alliance mode.

The 2012 annual report shows that there are 1827 stores in 100 round pants industry, of which 1652 are franchised stores and 175 are direct outlets.

"the scale of direct sales has always been small, which has become a" fatal "short board restricting the development of the company.

A garment industry veteran commented on the 100 round pants industry.

stock prices plummeted with a decline of 24.58%, /p >

The "P" hundred round pants industry began in November 29th with a three week limit, and its share price plummeted 33.32%, from 26.79 yuan in November 28th to 17.77 yuan before the suspension.

But there was no major bad background.

Such a fall of P is enough to make investors stare.

For a time, speculation about the fall was rampant. A private product named "China International Trust - Huating Xingye structured securities investment collective fund trust scheme" was questioned as a shareholder of many natural shareholders.

for this, the hundred round pants industry secretaries office said in the mail of reporters in December 10th: "the company is carrying out verification, and will announce the first time after verification.

The company is not sure whether the stock is manipulated. "

100 round pants industry landed at small plates in late December 8, 2011, closing price on the first day of listing was 14.42 yuan.

Just as the textile and garment industry was under pressure, the company's share price also went down all the way, and at the end of 2012, it reached a low of 7.73 yuan.

and before the stock price crash, the industry of "100 circles trousers" went against the market, rising for six consecutive months, and its share price was record high.

Since the end of December last year, the company's share price has been singing until November 28th, reaching 26.79 yuan.

On the contrary, the fundamentals of the company are mediocre and unsatisfactory.

reporter learned from the company notice that the net profit attributable to shareholders of Listed Companies in the first three quarters of this year was 32 million 592 thousand and 500 yuan, down 24.58% from the same period last year.

Net profit attributable to shareholders of listed companies is expected to decline by 2013 in 10%-40%.

The 2012 annual report shows that the net profit of shareholders belonging to listed companies in 2012 was 52 million 367 thousand yuan, 23.78% less than that of the previous year.

for the decline of the company's performance, the hundred circles trousers industry responded to reporters in December 10th. "The macro-economy continues to be sluggish, the clothing industry is hard to say optimistic, and the cost of developing the market and terminal operation has become larger. Under the impact of e-commerce, < a href=" http://www.91se91.com/ "> Direct shop" /a > income is hard to achieve the expected level. "

This explanation is also reflected in the quarterly report of the third quarter of this year.

listing two years three change fund raising purpose

Less than two years after the listing of the P industry, the industry has been changed three times.

reporter to check the 100 round pants industry prospectus, found that hundred circle pants industry raised funds for two projects, marketing network construction project investment of 275 million 500 thousand and 700 yuan, information system construction project investment of 19 million 265 thousand and 700 yuan, the above project construction cycle is 2 years.

marketing network project is to expand the scale of the company's marketing network in the two or three tier cities, fill gaps in some markets, and improve the company's marketing network system.

Further improve the market share of the company's products.

The hundred round trousers industry plans to build 220 direct outlets in Changsha, Zhengzhou, Hefei, Taiyuan, Nanjing, Nanning, Guiyang, Lanzhou and other provincial capitals, including 16 shops.

July 24, 2012, the hundred round trousers industry issued a notice to change part of the purpose of raising funds. It changed the original "marketing business of 16 shops to set up a direct store project" and changed it into "building a strategic franchising store in three tier cities and establishing a wholly owned subsidiary of Guangzhou and Nanchang." the original "marketing network construction project was opened by Guiyang holding subsidiary company to open a direct store project" to "set up a Wuhan holding subsidiary company to open a direct store project".

After the change, the construction time of the two items is one and a half years.

At this time, the company was not full for a year.

at this point, the hundred round pants industry has purchased 1 shops in Taiyuan and Nanjing, with a total investment of 24 million 148 thousand and 800 yuan, while Guiyang subsidiary has not invested.

In the announcement, the hundred round trousers industry indicated that the reason for the change was the price of domestic commercial real estate and the increase in the rental of Guiyang commercial circle.

October 28th this year, the circular industry announced that "the company intends to extend the construction period of the marketing network construction project and information system construction to December 31, 2015".

to the above questions, the office of secretaries of the hundred round trousers industry told the times weekly reporter that the reason for the delay of the marketing network construction project is "the impact of the macro economy, the market < a href=" http://www.91se91.com/news/list.aspx ClassID=101112107107 "> the consumption terminal < /a > the purchasing power is low, the labor cost and the rental price of the shops continue to rise, the investment projects that have been implemented have not reached the expectation, and the company has decided to slow down the implementation speed.

although the hundred round trousers industry said in the announcement, "this adjustment will not have a substantive impact on the company's normal production and operation and business development on the announcement of the construction period of the fund raising project."

However, some analysts pointed out that the items in the 100 round trousers industry Prospectus have been changed repeatedly, and the performance in the first three quarters has declined. This shows that "the company is currently struggling and business development is blocked", which will trigger market doubts and reduce investor expectations.

December 10th, 100 rounds of trousers industry announcement, the third time to change the purpose of raising funds, said the company shareholders' meeting adopted two bills, "about the use of some idle funds to temporarily replenish the liquidity of the motion", "marketing network construction project" change division of the implementation of the main body and the implementation of the site of the motion.

times weekly called the hundred round trousers industry to ask the relevant situation of the above motion. As of press release, no reply has yet been received.

relying on franchising, the gross margin is low.

compared with the ups and downs after the listing of the company, the company went downwind before going public.

hundred circular pants industry official website information shows that the hundred circle trousers industry brand started in 1998, Shanxi hundred circle trousers industry Co., Ltd. (hereinafter referred to as "Shanxi hundred circle"). In the same year, it embarked on the road of franchising, the first franchising enterprise for the Chinese garment industry, and the first to put forward the concept of "barrier free return, free lifetime ironing, lining" service concept.

In 2007, the "100 round trousers industry" was awarded the highest award by the China Chain Store Association, the Chinese franchise award. It was the only clothing company that won the award.

and the 100 round pants industry has been booming and has been listed successfully. The mode of franchising has played a significant role. Public information shows that the 720 franchisees in the current round of the industry are up to 77% in the 3 years, reaching 64% in 5 years and 17% in 10 years.

public data show that at the end of 6 in late 2008, there were 9, 17, 77 and 80 stores in the hundred round pants industry direct stores (including super stores), accounting for 0.17%, 1.62%, 4.13% and 8.59% of the total number of stores in -2011.

In the same year, the 13 distribution centers of the 100 round pants industry in the whole country were outsourced to local franchisees in addition to distribution centers in Taiyuan and Guangzhou.

The franchisee of "P" hundred round pants industry owns the ownership and management rights of franchised stores, and franchisees are closer to the local market. This enables the industry to rapidly expand its marketing network and promote its brand rapidly when its own funds are relatively limited.

However, the overall gross margin level of the franchise mode is lower than that of direct sales.

despite the fact that the circular Office of the 100 round pants industry denied that the way of franchising on the phone would have adverse effects on the operation of the company, it is an indisputable fact that the hundred round trousers industry is trying to expand the scale of the battalion.

The original intention of the IPO industry is to set up 220 Direct stores.

in the middle of 2011, there were 1597 terminal outlets in 100 circles, including 1517 franchising channels and 80 direct outlets.

By the end of 2012, there were 1827 stores in the industry, including 1652 franchises and only 175 outlets.

the use of raised funds has been repeatedly changed. After the extension of the construction period, the "implementation subject" and the "implementation place" have changed again, and the layout of the 100 billion round trousers industry has been blocked again and again.

it is noteworthy that < a href= "http://www.91se91.com/news/list.aspx ClassID=101112107105" > 100 round pants industry < /a > the risk factors of investors in the prospectus should be especially concerned with the risk of "low proportion of direct sales business" and "risk of production and logistics outsourcing".

In the end of 2012, the balance of the 100 yuan round trousers industry accounts receivable increased by 118 million 210 thousand yuan compared with the beginning balance, with an increase of 141.30%.

Accounts receivable increased by 61 million 51 thousand and 400 yuan at the end of 9 in 2013 compared with the beginning balance, and the proportion increased by 30.24%.

for this, the hundred circles trousers industry explained in the announcement that "the company's business mode is mainly changed from the distribution of goods and orders to the order, and the credit period is extended appropriately to the better credit franchisees in the selling season, which leads to an increase in the company's accounts receivable balance."

but in January 7th this year, the hundred round trousers industry received the regulatory letter of the Shanxi Securities Regulatory Commission. There are many problems in corporate governance, information disclosure, insider information system and accounting and so on.