Hongkong Second-Hand Luxury Goods Retailer Milan Station Shares Plummeted 22.73%

According to the world clothing shoes and hats net, Hongkong second-hand

The stock market of Milan station Holding Co., Ltd. (1150.HK) changed on Tuesday. The stock had dropped 6% in early trading, and was further down 12% in the afternoon. Then it fell all the way, and the stock market plunged again, closing at HK $0.25 a day, plunging 22.73%.

The Milan station's plunging price is suspected of being related to the independent The The Enigma Network: 50 stocks not to own issued by David Webb on its personal investment website webb-site.com on Monday. This article shows a complicated cross shareholding of 50 Hong Kong stocks through a picture produced by them, and the Milan station is among them.

David Webb said that although the Hongkong Securities Regulatory Commission warned about the excessive concentration of the "50 stocks that are not easy to hold", it can still be traded normally, while some other companies are accused of insufficient disclosure. Therefore, he warned investors not to invest in the above companies.

David Webb, a Briton who moved to Hongkong for 25 years, is not only a "Hong Kong Stock Exchange" but also a radical investor.

The day after the article was published, many stocks of "50 stocks that should not be held" fell sharply and only 5 rose.

On Tuesday, May 16th, the 10 largest stocks of Hong Kong stocks were the largest companies in David Webb, and the Milan station was the worst, with a turnover of 51 million 812 thousand on Tuesday, 25 times its average volume and 13 million 730 thousand Hong Kong dollars.

In response to the collapse of some Hong Kong stocks on Tuesday, David Webb said in a media interview with Hongkong that it proved the problem reflected in its article, and said that the 50 stocks that should not be held had been observed.

David Webb said that because many of the equity holders reached the required disclosure level, the result was revealed in their balance sheets, which allowed them to take advantage of them.

Of the 50 companies disclosed in David Webb, two were the research area. Besides the Milan station, 0205.HK, a media company, was also a research object because of its fashion magazine business. However, due to the downturn of the global traditional media business, the media reduced its research on the industry and was excluded from the research area.

As for the Milan station, the concept of luxury and second-hand has once become a "Star" for Hong Kong stocks. But this year, the industry downturn and the Hongkong retail market slump sharply.

In mid 4, the group announced that Yao Junda, the founder of the company, was retiring and resigned as chairman and executive director of the group. At the same time, his brother Yao Junwei also resigned from the executive director and managing director on the grounds of concentrating on the business operation of the group, but Yao Junwei would still serve as the director of some Affiliated Companies of the group.

Hongkong netizens commented "two people" after "pumping" after the "water (leaving)".

Yao Junda, who has resigned as chief executive of Milan station in July 11, 2014, has been selling since 2013.

In late January 2014, the group announced the termination of negotiations with the first potential buyer and continued negotiations with other buyers.

In the middle of 2015, the group sold its shell and the stock price rose rapidly, and the stock price rose rapidly more than 3 times in less than two months. It rose from less than HK $0.7 at the end of March to the highest of HK $2.6 in May. The market value soared to more than 1 billion 700 million HK dollars. The result was that the price was too high to sell. Yao Junda turned to sell 16.6% of the shares of Milan station through its wholly owned aestheticism limited company. After the reduction, he still held 55.68% shares, and the group's share price plummeted by half. Yao Junda's cash in the paction was HK $247 million, while the minority shareholders suffered heavy losses.

The same thing happened again in 2016. At the end of April, Yao Junda's beauty company limited finally discounted 18.7% and finally successfully placed the shares of group 41.33%-55.43%. The stock price of the group fell 23%.

In November, Yao Junda further reduced the shareholding ratio from 12.99% to 10.83%, and the shareholding ratio of public shareholders also decreased from 87.01% to 72.52%, with 16.65% equity holders.

Hongkong small listed company bosses sell shell cash "pumping" routine in recent years more frequent, many Hongkong

Listed only for sale, for example, the first night club stock "Magnum" (the Chinese name love night PU), the renamed AUX International Holdings (2080.HK) after the launch of the first year of listing, and the 2080.HK group, which is sold earlier this year, failed to sell its shell.

Benefiting from the mainland capital's search for the target, the HKEx also plans to tighten the listing threshold, so that the potential "shell stocks" that have been listed will be more sought after.

Data show that in fiscal year 2016, Milan's revenue fell 20.2% to HK $318 million 800 thousand, while Hongkong's income fell by 15.2% to HK $291 million 600 thousand, while mainland China and Macao fell by 52.7% and 44.9% respectively.

To raise revenue, the group began to expand its business to the financial sector last year, that is, the stock market.

At the end of December 2016, the group held Hongkong listed securities valued at HK $9130, and the stock return amounted to HK $65 million 305 thousand during the year. The Group invested mainly in Hongkong construction engineering company 8321.HK, which landed HK $0.35 HK $0.35 per share in October 28, 2016 and received HK $13 in March 31, 2017.

Thai Jin holdings also appeared on the blacklist of David Webb.

In March, Milan station also bought HK Hongkong licensed money lenders Brenda Enterprises Limited for HK $1 million 700 thousand and joined the ranks of "putting numbers".

At the end of 2015, the Group acquired 51% stake in Thailand's natural skin care brand Thann stake in the new business.

Milan station said this year it will focus on the market of middle and end products and second-hand handbags and the sale of name list.

To expand broader customers, we will actively explore opportunities to acquire profitable businesses, integrate traditional retail networks, intensify efforts to develop local consumer markets, and effectively control rent costs.

The group also intends to introduce the Thann brand into the mainland market.

The group's net loss in 2016 expanded from HK $48 million 242 thousand in 2015 to HK $72 million 820 thousand.

The gross profit margin was 20.9%, 200 basis points lower than the previous year's 22.9%.

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