Recently, Ray Di Boer Is Going To Sprint IPO Again.

Recently,

Limited by Share Ltd (hereinafter referred to as ray Di Boer) updated the pre disclosure document and is expected to sprint IPO again.

Statistics show that Ray Tibor is a business casual men's dress.

R & D,

Promotion and product sales as the core of the brand operators, take the franchise and self-management mode of operation, of which the franchise business is the main way to achieve sales.

At present, the company owns 3 independent brands of "Raidy Boer", "GHILARO" and "Mesimia", and has obtained the exclusive authorization of Italy "Ferrante" brand in China.

By the end of 2015, the company had set up 516 stores nationwide, 425 of which were franchised stores.

Decline in performance led regulators asked

Financial data show that from 2013 to 2015, Ray Tibor's operating income was 542 million 400 thousand yuan, 448 million 970 thousand yuan and 370 million 730 thousand yuan respectively, and net profit was 71 million 424 thousand and 400 yuan, 64 million 881 thousand and 200 yuan and 41 million 981 thousand and 900 yuan respectively, and two performance indicators continued to decline for a continuous 3 years.

Reporters in the Inspection Commission website noted that two years ago, Ray Tibor also disclosed the prospectus.

According to the data disclosed at that time, the operating income of the company in 2011 and 2012 was 549 million 500 thousand yuan and 606 million 830 thousand yuan respectively, and the net profit was 92 million 289 thousand and 600 yuan and 81 million 166 thousand and 900 yuan respectively.

By comparing the two prospectus disclosed by ray de Boer, the company's nearly 5 years of business revenue and performance almost all showed a downward trend.

Especially in 2015, the company's revenue and net profit fell by 17.43% and 35.29% respectively.

In this regard, Ray Tibor said in the prospectus that during the reporting period, the company's operating performance was affected by factors such as macroeconomic slowdown and intensified market competition. The main operating indicators such as operating profit and net profit declined.

If the macroeconomic boom continues to decline and market competition further intensifies, it is impossible to exclude the possibility of continued decline in Future Ltd's performance.

At the same time, the continued decline in performance has also attracted the attention of the SFC.

Reporters noted that on the day of redI Bohr's disclosure of the prospectus, the regulatory authorities responded to 38 questions from 4 aspects, including the reasons why the company's supplementary earnings during the supplementary disclosure period continued to decline significantly, the situation of the main competitors in the same period, whether there were any adverse changes in the industry as a whole, whether the company's competitive position in the industry had any adverse changes, whether there was a weak overall competitiveness, limited risk tolerance, and so on.

In fact, not only did Ray Tibor's revenue decline, the reporter noted that even the former "domestic clothing first brand" American Apparel (4.240, 0, 0.00%) welcomed the first loss in Listing 7 years.

In 2015, the results showed that the company achieved 6 billion 285 million yuan in 2015, down 5% compared to the same period last year, and the net profit attributable to shareholders of listed companies was -4.31 billion, down 396% from the same period last year.

Analyst Lei Yu said that the textile and garment industry is still in the period of adjustment and pformation.

The domestic brand clothing is facing the change from the seller's market to the buyer's market from the consumer market. Most of the brand enterprises can't meet the needs of the buyer's market because of the suitable mode of the seller's market.

Setting up shop and attracting attention

Before this sprint IPO, Ray Tibor holding shareholders, actual controller Liu Changming directly held the company 49.03% shares, and respectively through Ray Tibor investment, Germany and the new holdings of 19.88% shares of the company, a total of 68.91% of the share of the company.

Ray Tibor's prospectus disclosed that the company intends to visit the Shenzhen Stock Exchange, plans to issue no more than 50 million shares, the total fund-raising of 481 million 800 thousand yuan, of which 390 million 900 thousand yuan for marketing channel construction projects, the other 33 million 370 thousand yuan, 57 million 540 thousand yuan were used to design R & D center expansion projects, information system to enhance construction projects.

However, from the perspective of regional distribution, Ray Tibor's main sales area is concentrated in Southwest China, followed by East China and central China.

Among them, only southwest accounted for 89%.

The prospectus showed that the number of franchisees accounted for 72.99% of the main revenue was 425, while that of self operated stores was only 91, accounting for 27.01% of the main revenue.

In this regard, Ray Tibor admitted in the prospectus that the regional distribution of the company's business is relatively concentrated. If the social and economic environment in Southwest China has a major adverse change, it will adversely affect the company's business performance.

Data show that in 2014, the number of franchised stores decreased by 40, the net sales of self operated stores decreased by 13, and the total number of stores decreased by 53. In 2015, the number of franchised stores decreased by 3, and the number of self operated stores decreased by 1, and the total number of stores decreased by 4.

In this regard, insiders questioned that in the premise of shrinking the market, the company's investment and investment projects were heavily expanded, and the investment and development of the investment projects deviated from the market and the development trend of the company itself.

Reporters repeatedly asked Ray Tibor to inquire about the situation, but as of press release, no one answered the phone.

In fact, there is no reason for doubt in the industry.

Reporters noted that according to Shen Wan industry men's wear, women's wear, casual wear, shoes and hats classification, A shares a total of 26 related industries listed companies.

At present, apart from 9.600,0.00 (0.00%), the other 26 listed companies have reduced their stores in recent years.

Under the pressure of domestic and international market downturn and consumption upgrading, most garment enterprises have already begun to plan pformation.

According to statistics, more than 80% of the listed clothing companies have double layouts on line and online, and many companies have launched offshore mergers and acquisitions.

However, according to the annual reports of these enterprises, the effect of pformation is hardly yet reflected in performance, and few people turn around.

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Or benefit from IPO speed increase

Although there are more than 800 enterprises queuing up for "release" at present, the situation seems to be eased with the recent regulatory policy adjustment. IPO

Reporters noted that in strengthening the various links of IPO, various subjects, various illegal activities under the regulatory background, IPO trial appeared some new changes, IPO trial rhythm returned to normal, the frequency of approval has reached a new high in the near future.

In July 22nd, the SFC approved the IPO approval of 14 enterprises, which is the second batch of approvals in July.

Prior to this, in July 8th this year, the SFC approved the application for listing 13 enterprises.

Therefore, in July, two applications were approved for 27 companies, a record high in nearly a year.

Of the 14 enterprises, 7 are Shanghai Stock Exchange, 2 are medium and small boards of Shenzhen Stock Exchange, and 5 are gem.

The total funding is estimated to be no more than 12 billion yuan.

It is worth noting that the speed of issuance of new shares issued by the SFC has shown a steady pace of increase this year.

"Now we do not need to freeze funds in advance, so accelerating the IPO rhythm has no apparent effect on A shares.

But more often, the policy signals are revealed.

A broker who did not want to disclose his identity told reporters.

This person believes that when the market gradually forgot about IPO, the approval of the IPO seems to be quietly speeding up, and the scale has begun to enlarge.

Although the list of IPO queuing companies is currently available, there are more than 10 clothing companies including Pacific bird, but Ray Tibor is now choosing to start IPO or get good results.