Jumei.Com Responds To Being Accused Of Being Evasive. Shareholders Say Chen Ou Avoids Sensitive Issues.

According to the understanding of the world clothing and shoe net, in September 1st, Hengrun investment continued to publish an open letter to return Chen ou.

Prior to that, jumei.com's shareholder Heng Ren Partners (Hengrun investment company) issued an open letter to jumei.com chairman Chen Ou and Sequoia Capital China fund management and execution partner Shen Napeng. The open letter was written by Peter Halesworth, the managing partner of run investment company.

Immediately announced a special dividend of $1.5 per share, returning $225 million to investors and distributing cash to shareholders.

Hengrun's investment in an open letter pointed out that jumei.com's chairman Chen Ou's 18 month share price disaster had lost $397 million, and the company's current market capitalization was $497 million. Such a huge loss amount was absurd.

In addition, Chen's proposal to "privatize" $7 per share greatly underestimated the value of the company, which has led to a 45.2% decline in its stock market.

Hengrun investment also publicly accused jumei.com shareholders of communication has been suspended for 22 months, shareholders have been forced to "blind fly" for nine months, nine months without any financial information from jumei.com.

In addition, Hengrun investment also said that jumei.com did not honor its promise to invest in the 2.8 US $100 billion of IPO raised in the US in 2014. It invested in an annual growth rate of two digits, and it called itself a leader in the industry, and used it for marketing, brand promotion and product development.

Hengrun investment

Bombardment of jumei.com

Instead, jumei.com chose to invest $14 million 300 thousand for TV production, and invested $44 million 800 thousand in a mobile phone power startups.

These investments have raised questions because they seem to have nothing to do with the core business of online cosmetics retailing.

It is understood that jumei.com's 14 million 300 thousand dollar investment in the drama is played by Zhang Han, Janine Chang, adapted from the peaceful novel of the same name, the city love drama "warm chord", the joint producer and Shanghai watch TV Culture Co., Ltd.

At present, the play is being filmed. It is reported that the play is likely to be broadcast in Hunan satellite TV in the future.

In addition, another business of jumei.com investment is the popular popular charging treasure.

As early as May this year, jumei.com announced its investment in the technology of street electricity.

Chen Ou has previously publicly told the media that sharing charging treasure is a ten billion market, and jumei.com has no investment in the project.

In August 31st, jumei.com announced that it had completed the acquisition of Shenzhen street electric technology.

Jumei.com's wholly-owned subsidiary, River International Holding, will own 60% of street electric technology.

However, the success of sharing charging treasure has been controversial in the industry.

Wang Sicong, son of Wang Jianlin, once said on social platforms that he was not optimistic about the development of shared charging treasure.

At 18 p.m. 5 p.m. on August 31st, Chen Ou responded to micro-blog's open letter to Hengrun.

First of all, Chen Ou's exchange of shareholders with jumei.com has been suspended for 22 months. He denied that he said that the communication between the management and shareholders was frequent and released a report in accordance with the requirements of the listed companies.

Secondly, Chen Ou said that at present, management is the largest shareholder of the company. If management chooses dividends and large shareholders cash in, it will be regarded as the most selfish behavior.

Finally, Chen Ou responded to the two big investment companies questioned by Hengrun.

Chen Ou is full of confidence in the TV series that he invested in. He believes that the warm string as a powerful super IP will definitely set off a hot market.

In addition, he also said that street electricity is now the first card in the market share of the charging treasure market, and completed 80% of the market share in three months, leading the whole share of the charging treasure market.

Stockholder's claim

Chen Ou avoids sensitive questions

However, for Chen Ou's response to micro-blog, Hengrun's investment was not bought, and the contradiction between the two sides continued to ferment.

The focus of Hengrun investment is still focused on jumei.com's financial performance report and investment layout.

Hengrun investment believes that since the April annual report released in April 2017, it has not released any report on financial performance.

Chen Ou's reply on micro-blog is not equivalent to a well planned shareholder teleconference. Many shareholders may not be micro-blog users.

Moreover, it is not enough to rely solely on a micro-blog, there are still many information needs to be made up.

In this latest open letter, Hengrun invested in jumei.com's investment TV drama, street electricity, put forward Hengrun investment to put forward whether official data to support Street electricity accounted for 80% of the market share? What is the expected investment income of these two projects?

In addition to questioning jumei.com's investment in television and street electricity, Hengrun's investment once again mentioned the current progress of the buyback proposal put forward by Sequoia Capital (China), led by Chen ou, co-founder Dai Yu son and Shen Napeng.

In the latest open letter of Hengrun's investment, the three time stressed the same sentence, which is often the most important thing to avoid talking about.

They think that Chen's response to these problems is the key.

Statistics show that the Hengrun investment company is a hedge fund in Boston, focusing on investing in small listed stocks in the US.

Earlier, Hengrun investment also participated in making Jiayuan purchase price increase by 34%.

Peter Halesworth, the founder of the fund, has publicly expressed the hope that both the listed companies and investors can raise the purchase price through negotiation, which will help to increase the trust of foreign investors in Chinese enterprises and further enhance Sino US relations.

Collaboration.

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