Cable Force Footwear Executives Lost Money Related To The Volume Of Anta'S Emergency Clarification Has No Cooperation

In September 16th, Ultrasonic, which was listed in Fujian, Frankfurt, admitted to the company that it had been unable to reach the top two executives of CEO and Wu Qingyong COO since last weekend. The statement said the chief financial officer (CFO) Chi Kwong Clifford Chan told the board of supervisors of the company that two of the missing persons had left their home and their whereabouts were unknown. The accounting department found that most of the company's cash in mainland China and Hongkong had been transferred beyond the scope of the company's influence.

This is also following last month's Fujian chairman of Limited by Share Ltd (1353.HK) Ding Hui debt 2 billion yuan lost after the incident, another Fujian businessman suspected of absconding with money. It is reported that Suo Li shoes industry, apart from its own sales business, covers both domestic and overseas businesses, and is also a supplier of XTEP 01368.HK and other companies.

The company's main market is the Chinese market, with more than ten years of market experience, with the urban middle class as its main target group. The existing 1400 employees, more than 110 stores, are Anta, XTEP and other brands of long-term suppliers.

Anta's sports (02020.HK), which was embroiled in the rumor, sent an emergency clarification statement to the twenty-first Century economic report reporter on 17 September. The company did have a supplier relationship with the cable shoe industry, but the transaction has stopped for more than 5 years, and now it has no effect on the company.

The cable shoe industry emphasised that the company still has six digit disposable funds, so that it does not affect the payment on schedule.

A sudden "run"

Suo Li footwear industry was founded in Fujian Province, which is thriving in the shoe and garment manufacturing industry. Its company is registered with Suo Li Xiamen Industrial Co., Ltd. According to public information, the company's original venture Shi Ke dates back to 1995, began to develop sandals products in 2004, and won the famous trademark in China in 2007.

In 2011, the cable shoe company was established in Cologne, Germany, and in December 9th of the same year, it carried out IPO in the advanced market of Frankfurt Stock Exchange (FWB).

It has been established for nearly 20 years and has been listed overseas for nearly 3 years, but it has undergone dramatic dramas in a short weekend.

In twenty-first Century, the economic news reporter was informed that in September 12th, the cable shoe industry also issued a statement saying that chief operating officer Wu Minghong had informed the board of directors: "for health reasons, they will go to the hospital for treatment and therefore need to leave for 6 months. During this period, their duties will be jointly held by CEO Qinyong Wu and two senior managers from the sales and marketing department." The statement also said that the chief financial officer, Chi Kwong Clifford Chan, will retire in September 30th.

But since then, Wu Minghong has disappeared from the company and investors' vision. Together with its "disappearance", Wu Minghong also mentioned CEO Wu Qingyong, who wanted to transfer his duties.

In the eyes of the outside world, there is almost no sign of the loss of senior executives in the shoe industry. Over the past five years, the annual growth of the total business of Suo shoe industry has maintained over 25%. In fiscal year 2013, the company recorded a total sales of 163 million 800 thousand euros (about 1 billion 303 million yuan), with a net profit of 35 million euros (about 278 million yuan) and a net profit margin of 21.4%.

The pretax profits of the cable footwear industry in 2012 also amounted to 41 million 800 thousand euros, with a total revenue of 149 million euros, increasing for 30% consecutive years in three years.

In addition, Suo Li has just obtained $60 million in credit support company expansion from Nomura International (Hongkong) Limited in August.

However, with the release of running news, the Frankfurt listed shares of Suo Li shoes fell 79.3% on September 16th, to 1.35 euros.

However, the cable shoe industry emphasizes that the company still has six digit disposable funds, so it will not affect the payment on schedule. The company CFO and surveillance will be communicating with regulators and partners. "Once more evidence is gathered to clarify the status quo. Once there is new reliable information, it will be announced for the first time.

Born in March 28, 1985 Wu Ming Hong Wu Qingyong, who was born in November 17, 1962, has been in CEO and COO for many years.

According to cable force footwear industry Official website information shows: as of December 17, 2013, Wu Qingyong holds 52.35% of the company's shares and belongs to the absolute controlling shareholder. The remaining major shareholders are Mr. Thomas Zours (16.7% of shares), Mr. Thorsten Wagner (7.9% stake), enterprise Axxion S.A. (6.8%), and IP Concept S.A. (3.3%).

If the Frankfurt Stock Exchange announced in September 17th the market value of 24 million 760 thousand euros (about 196 million 950 thousand yuan) projections, Wu Qingyong currently holds the cable force stock value of at least 103 million 100 thousand yuan.

To understand this company In response to the next step, in twenty-first Century, the Economic Times reporter contacted the cable private shoe industry and its chief financial officer, Chi Kwong Clifford Chan, for private telephone calls.

Lost link incident "radiation circle"

A senior garment industry veteran told the twenty-first Century economic news reporter: "after experiencing the tide of Fujian Jinjiang sports shoes and clothing enterprises going public in Hong Kong, in recent years, casual footwear companies have also seen many overseas fund-raising cases. These enterprises are enjoying the dividends after listing, but they can not change the risk at random in the short run. "

"With the advent of the domestic industry downturn for two years, the problems of the capital chain soon exposed these invisible risks." He said.

Suo Li shoe industry broke out this time, the number of company funds has been transferred, but the specific amount has not been announced, but the negative effects caused by the upstream and downstream industries have been rapidly fermented. Companies that have business cooperation and past trading history have also been quickly pulled into the whirlpool.

Anta and XTEP, which belong to the leading enterprises of footwear industry in Fujian, have been linked with the supply relationship for a long time. Compared with Anta's urgent clarification, XTEP has not yet explained the cooperation rumors.

Entering the 2014, the Fujian shoe and clothing industry's road downtime incidents can be seen one after another. In August 5th, media reports reported that the boss of Quanzhou men's wear brand had been lost, while the Singapore listed company and the local clothing giant alligator were also held up by employees for arrears of wages.

One of the most watched cases was at the end of 7, and the company was lost to the bosses half a year ago. The company reported it to the Hongkong Special Administrative Region police in July 23rd. The reason for the boss's leaving is suspected to be closely related to the "debt" whitewash performance before the listing, and the capital chain is on the verge of fracture.

"In view of the recent discovery that Mr. Ding Hui has made a number of unauthorized acts that are detrimental to the assets of the company and breach of directors' responsibilities, the board has taken measures to remove Mr. Ding Hui from serving as a director of the board of directors of the odd lot, and decided to move Mr. Ding Hui to the position of the company and his Affiliated Companies director." The announcement of the odd side said.

This practice is also seen by the industry as the next most likely implementation strategy for the cable shoe industry.

According to the announcement, the company has received a total of 454 million 500 thousand yuan from the company, including 1.979 yuan loan from Xiamen bank, 171 million yuan of Minsheng Bank and 123 million 500 thousand yuan of Shandong bank.

By September 8th, Fujian had suddenly released an important personnel change incident. The company's chief financial officer and company secretary Ouyang Hao Ran resigned from his existing position in September 5th, and the odd side still defaulted on Ouyang Haoran's related remuneration.

"Now the boss of shoes and clothing enterprises frequently staged in Wenzhou, Zhejiang and Fujian Quanzhou runs out of the tide. It can be seen that this middle and low-end manufacturing industry has a long running confusion. Even overseas listed companies are still the same, let alone the operation of ordinary small and medium-sized non-listed company. The former garment industry veteran told the economic news reporters in twenty-first Century.