Modern Boulevard Will Pform To Internet Operators

According to the world clothing shoes and hats net,

(002656) the company announced in the evening of January 18th, because of its own capital needs, Lin Yongfei, the controlling shareholder of the company, Ruifeng group and real controller, plans to reduce the company's shares by no more than 9 million 500 thousand shares and 12 million 600 thousand shares in 6 months, with a total of 4.96% of the total share capital of the company. The reduction price is determined according to the market price of the reduction.

Based on the 18 day closing price of 24.84 yuan, the market value of the proposed reduction shares is 549 million yuan.

Public information shows that Ruifeng group currently holds about 127 million shares of the company, accounting for 28.56% of the total share capital, and Lin Yongfei holds 50 million 400 thousand shares of the company, accounting for 11.32% of the total share capital.

Looking for the company announcement, it can be found that in June 23, 2017, the company had disclosed the actual controller's concerted action Weng Wuqiang, Weng Wu you and Yan Yan plan within 6 months after the announcement of the reduction plan announcement, and reduced the company's shares by no more than 18 million shares by centralized bidding or block trading, accounting for about 4.18% of the total share capital of the company.

In December 26th, the company announced the deadline for the implementation of the reduction plan and the implementation progress announcement, the three concerted persons completed their respective reduction plans, but the real controller Lin Yongfei did not implement the reduction during this period.

It is noteworthy that the scale of the reduction plan has not dragged down the company's share price downward, but in the reduction period, the company's share price has climbed all the way, reaching a new high of 25.19 yuan, calculated at the closing price of 16.80 yuan in June 23rd, the highest cumulative increase of 50%.

Looking at the change of shareholder number in the third quarter of last year, we can find that the chips of the company have been highly concentrated.

In June 30, 2017, the number of shareholders of the company was 7802, and the household share was 55202. By September 30th, the data had changed to 5985 and 74407.

The number of shareholders decreased by 23%, and household shareholding increased by 35%.

The company's three quarterly report shows that during the reporting period, the company achieved a revenue of 655 million yuan, an increase of 26.69% over the same period, and a net profit of 119 million yuan, an increase of 296.72% over the same period last year.

The company expects to achieve net profit of 120 million yuan to 150 million yuan in the year 2017.

The company's performance in 2017 seems to have achieved a "counterattack" of 2016 huge losses of 2.87 yuan.

In fact, the substantial growth of net profit in modern Avenue is mainly due to disposing of the shares of the subsidiaries, obtaining investment income and making contributions to the company.

According to the results of the report, the modern Avenue was sold through equity pfer in February 20, 2017 to sell the controlling subsidiary company even Cafu (Hengyang) Commercial Plaza Co., Ltd., which will yield 97 million 430 thousand yuan after the completion of the paction, accounting for 82% of the net profit of the first three quarters.

In the first quarter of this year, the modern Avenue also stripped Guangzhou's famous brand management Co., Ltd., which lost 50 million 90 thousand yuan in.

In terms of strategy, the company has been buying new assets in recent years and pforming to Internet operators.

In 2016, morden Avenue issued a notice to draw up additional funds to invest.

Buyer shop O2O project (375 million yuan), Italy LEVITASS.P.A.51% equity purchase and DirkBikkembergs

Marketing network construction project (341 million yuan), repayment of bank loans (150 million yuan).

In March 2017, former permitted company, the securities and Futures Commission, acquired a 100% stake in the fashion social platform at a total price of 490 million yuan to accelerate the pformation and upgrading of the company to the "Internet +" global fashion brand operators.

However, the project of increasing investment and raising investment in modern Avenue has been in a state of loss, and whether it will drive the strategic pformation of the company will need to be verified.

At present, the company's strategic outlook is uncertain, the stock price is at a historical high and the chips are highly concentrated, and the liquidity is missing. How does the reduction plan of Lin Yongfei, a controlling shareholder of Ruifeng group and real controller, throw out this line? It deserves our attention.

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