From The New Three Board Delisting, If Han Holding, Where Will It Go?

According to the world clothing shoes and hats net, in January 22nd,

(832887.OC) as a hatchery.

The company issued a notice to apply for delisting from the new third board.

As a platform for hatching Zhang Dayi, such as Han holdings, as the "net red first electricity supplier" identity landing on the new three boards, attracted much attention.

But as the upsurge recedes,

Weakening liquidity, the loss of the electricity supplier has become the norm.

According to the 2017 China Daily's report released by Lu Han holdings, although its operating income was as high as 305 million, it was 293.48% higher than the same period last year.

But it lost 15 million 319 thousand yuan.

For the reasons for delisting, the announcement did not say that it was only interpreted as "according to the company's future development and strategic planning needs".

A loss of 15 million in the first half of 2017, to be applied for delisting from the new third board.

There are two reasons for the loss in the first half of 2017, such as Han holdings.

First, sales and management costs increased substantially compared with the previous period.

In the first half of this year, there has been a particularly big increase in advertising expenses and service fees and wages for employees.

In terms of advertising fees, the advertising fee was only 6 million 40 thousand in the same period last year, and jumped to 38 million 150 thousand in the first half of this year, or more than 500%.

The service fee of the red man also increased from 5 million 680 thousand to 34 million 120 thousand, and the staff remuneration increased from 2 million 190 thousand to 15 million 770 thousand.

Second, sales of clothing businesses such as Han online are relatively high.

In the first half of the year, clothing sales accounted for 77.23% of the total revenue, while clothing business had obvious seasonal characteristics. That is, because autumn and winter costumes were more common and high unit prices than spring and summer clothing, autumn and winter clothing accounted for a larger proportion of sales revenue in the whole year, and operating income and net profit generally showed a high level in the second half of the year and low in the first half of the year.

These two reasons are similar to the reasons for the loss in the 2016 newspaper.

Previous analysts believe that, such as Han holdings mainly in the marketing cost.

If the dividend of Han holdings is a powder, but Zhang Dayi's fans have not risen much in recent years, and dividends are no longer there.

On the other hand, such as Han holdings needs to build more network red with its own supply chain to carry out cost amortization, but in the current situation, such as Han holdings's many net red, the only one that is widely known is Zhang Da Yi.

Net red can not be built in batches, which means Zhang Dayi's pressure to support the family is not small.

Judging from the first half of 2017, the big business (such as Han Holdings' shareholding ratio of 51%) is still the main source of such holdings.

2016, such as Han holdings annual revenue of 445 million yuan, Tai Yi business revenue was 228 million yuan.

In the first half of 2017, the business revenue of Dayi electric business reached 132 million and net profit was 18 million 192 thousand yuan.

Since the listing of the company, the agreement has been pferred. There has been no turnover in the two level market, and only 14 shareholders were reported in the half year 2017.

The company's controlling shareholder and the actual controller make a commitment. If there is any objection from the shareholders, the agreement will be adopted to acquire the shares of dissenting shareholders or negotiate other solutions, so as to reach an agreement.

The company that hatched red net is itself a "net red".

Such as Han holdings in the first half of 2016, through the backdoor Kerrey love login to the new three boards.

At that time, Feng Min, a real controller of Han holdings, entered through the fixed price increase of 7.66 yuan / share. At that time, the valuation was only 214 million yuan.

In August 2016, when he arrived at the third board of the new board, he issued a stock issue plan and completed the financing in the short four months at a price of 96.43 yuan / share.

It is worth noting that Alibaba has participated in the subscription, and the valuation of the company has increased by 15 times from 2.14 yuan to 3 billion 130 million yuan.

After the completion of the subscription, Ali holds 9.58% of the total share capital of the company, and becomes the fourth largest shareholder in one fell swoop.

Such as Han holdings can be recognized by Ali, and its own business model.

Such as Han electric business is known for its "Red Net + community + electricity supplier" business model, supporting its valuation.

The predecessor of the Amoy brand, "Li Bei Lin", was founded in December 2012. Relying on powerful data analysis capabilities, supply chain back-end support and company operation and management capabilities, it established a cooperation mode with you, "you are responsible for the beauty and flowers, I am responsible for making money to support the family", to help them play business value in the areas such as electronic business realization, advertising agency, pan entertainment and so on, and form a "pipeline" network red processing mode.

Strong capital operation capability, innovative business mode, and the draught of the net red economy.

It seems easy to understand that Ali has thrown 300 million of the electricity supplier.

From the new three board delisting, if Han holding, where will it go?

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