Hector'S Main Product Quality Problem Is Expensive.

Since last autumn, Kendall Jenner and Bella Hadid were framed for the first time.

Many fans have been concerned about the blockbuster.

The eye-catching is not just the two international supermodels, but the HQ (China) group Limited by Share Ltd, a subsidiary of ochirly, has chosen to hit the market.

And there are shadows behind the spotlight. Hertz group has slowed down its revenue growth in recent years, reversing profitability and preparing to raise 1 billion 839 million yuan to invest in the construction of investment projects. The expectation of "money" is too optimistic.

What is even more optimistic is that the quality of HQ shares has also been exposed frequently in recent years, and the brand value of the company is coming.

Profit ceiling appears

Is the fund raising project too optimistic?

Heji is a consumer oriented fashion brand operation management group.

Five, Plus, TRENDIANO, COVEN GARDEN, and other self created brands have acquired and operated MISS brands such as MISS, SIXTY and other international brands in the world.

In 2012, Heji shares went all the way to the LVMH group, a well-known luxury goods company. As of December 31, 2017, the total assets amounted to 5 billion 298 million.

This listing plan,

Obviously, it is well prepared.

"Yi Cai Xin" noticed that in 2014-2017 years, the business revenue of Heji shares was 5 billion 803 million yuan, 6 billion 96 million yuan, 6 billion 446 million yuan and 6 billion 590 million yuan, respectively, which increased 5.05%, 5.74% and 2.24% respectively in the 2015-2017 years, and the corresponding net profits were 1 billion 144 million yuan, 1 billion 126 million yuan, 1 billion 126 million yuan and Yuan Yuan respectively. The annual growth rate of net profit in the year of the year was -1.6%, -16.66%, and respectively.

Obviously, HQ shares revenue growth slowed down.

Even into the awkward situation of negative growth.

However, the problems still arise.

In the 2014-2017 year, the income of the company's direct operation mode was 2 billion 241 million yuan, 2 billion 365 million yuan, 26.94 yuan and 2 billion 943 million yuan respectively, accounting for 39.15%, 42.12% and 45.14% of the company's main business income respectively.

It can be seen that the direct battalion mode occupies half of the HQ share income.

The prospectus shows that Heji shares plans to raise funds of 1 billion 839 million yuan for marketing network construction projects.

The project will adopt the way of purchase and lease, and carry out the marketing network layout in the first tier and second tier cities throughout the country, that is, the construction of Direct stores, and plans to build 6 experience centers and 350 standard stores.

Heji shares said that after the completion of the investment project, annual sales revenue will be increased by 2 billion 433 million yuan, with a total profit of 589 million yuan.

In the HQ shares prospectus, 2015-2017 years, the number of direct shops in Hechi shares was 765, 898, 1034 and 1184 respectively.

It is worth noting that Heji shares realized 6 billion 590 million yuan revenue in 1184 stores in 2017, and opened 356 new stores to increase sales revenue of 2 billion 433 million yuan.

In recent years, the revenue growth of Heji shares has slowed down and profitability has been reversed. Is it too optimistic about the "money" route of the investment projects?

Product quality problems frequent brand value usher in the final exam

What is more optimistic is that the quality of HQ shares has also been exposed frequently in recent years.

In March 15, 2010, the Shanghai quality and Technology Supervision Bureau announced a list of unqualified products for quality supervision and spot checks, among which the Ochirly brand of Heji share related company was a thousand bird long scarf.

The quality problems such as content, color fastness to water and color fastness to perspiration are serious.

In February 17, 2013, the Beijing consumers' Association announced the results of the comparative study of 41 casual garments, accounting for 36.6% of the samples.

Among them, Ou Shi Li was found to be unqualified low-grade quality error.

In March 15, 2018, the official website of Anhui industrial and commercial bureau announced the circulation field.

The quality of spot checks, the sister brand "FivePlus" of the European time force is "on the list" because the pH value is not up to standard.

In June 11, 2018, Guangdong provincial quality and Technical Supervision Bureau released Guangdong leisure in 2018.

Product quality "double random" special supervision and spot check results announcement shows that "Fiveplus" appears unqualified products.

According to HQ, the company chooses the product with high quality according to the supplier admission (assessment) process.

A reputable processing plant, as a manufacturer of outsourcing, can be described as layers of checks.