Stocks Are Frozen And Stocks Are Risky.

In September 21st, the announcement of the freezing of shares of the controlling shareholder of the company announced that it received a notice of judicial freezing of some of the shares held by the company's controlling shareholder, "Hongkong bird" Limited ("bird of honor"), which triggered concern in the capital market.

There are also concerns about the operation of the expensive birds. The first phase of the employee stock ownership plan in 2017 will be lifted in September 29th this year. Due to the excessive fluctuation of the price of the birds and birds, the company has lost nearly 70% of its float, and there is a risk of explosion.

As a matter of fact, net profit has declined in recent years. Although it has tried to diversify, it has achieved little success.

The stock is frozen at a value of about 750 million yuan.

Notice shows

The International Trust Company Limited and the noble bird group have the enforcement effect of notarization of creditor's rights instruments.

101 million 695 thousand shares of unlimited sale of shares and fruits (of which: 97 million shares have been registered for pledge) have been frozen by the Xiamen intermediate people's court. The freeze time is September 19, 2018, and the freezing period is from September 19, 2018 to September 18, 2021.

According to the September 21st close price of 7.43 yuan / share, the frozen stock is worth about 750 million yuan.

It is reported that as of September 20th, the Group owned 479 million 115 thousand shares of the "noble bird", which were all tradable shares with unlimited sale conditions, accounting for 76.22% of the total share capital of the precious birds.

After the shares were frozen, the number of shares held by the company was 101 million 695 thousand, accounting for 16.18% of the total share capital.

Although the owner said that some shares of the controlling shareholder, Hongkong bird Limited (Group) Limited, had no effect on the control of the birds, nor did it affect them.

The normal production and operation, but in three months, the share price plummeted over 74%, and the market value evaporated more than 13 billion.

Besides the stock being frozen, the problem of employee stock ownership is also imminent.

In September 29, 2017, the "Huarun trust 1 bird trust" trust scheme completed the purchase of employee stock ownership plan, accumulatively purchased 22 million 220 thousand shares of listed companies, accounting for 3.54% of the total share capital of the company, and the average paction price was 21.92 yuan / share. The lockup period was 12 months, and it was about to be lifted in September 29, 2018.

The employee stock ownership plan set up a priority and sub share according to the 1:1 ratio, that is, the employee contributed 250 million yuan, and the remaining funds were allocated by the trust company.

According to the closing price of September 21st, 7.43 yuan, compared with the average price of 21.92 yuan / share, float 56.98%.

It is worth noting that none of the senior executives of the company is involved in the employee stock ownership plan. The participants are managers at the company level and ordinary employees who have worked for over five years.

An employee stock ownership plan participant told the China Commercial Daily reporter that the company initially released this plan, one is to expand the source of funds and increase employee income; the two is to retain talent, provide security for employees, and play an incentive role.

But now the lifting of the ban period is near, and the loss is huge.

Expensive birds are not expensive.

In recent years, the performance of expensive birds has been worrying, and net profit has declined for several years.

According to the 2018 semi annual report released by the company, in the first half of the year, the business income of the precious birds reached 1 billion 536 million yuan, down 2.67% compared with the same period last year. The net profit attributable to the shareholders of the listed companies was 34 million 420 thousand yuan, a decrease of 73.51% compared with the same period last year. The net income from non net profit was 30 million 210 thousand yuan, a 71.57% decrease compared with the same period last year, and both net profit and net profit declined.

This is not the first decline in profits.

The reporter inquired that in recent years, the financial report of the expensive bird found that from the end of 2015 to the first half of this year, the net profit of the noble bird has been showing a downward trend.

In 2015, the net profit of the company was 332 million yuan. In the past two years, the net profit in 2017 dropped to 157 million yuan.

In addition, the number of stores is decreasing.

According to statistics, in 2016, 486 new retail outlets were opened, 845 retail outlets were closed, and 359 were closed. In 2017, 503 new retail outlets were opened, 879 retail outlets were closed, and 375 were closed. In the first half of 2018, the total number of retail terminals was 3526, compared with 204 at the end of 2017.

On average, the average bird shop speed is one day per day.

Since the listing of the great bird in 2014, the company has begun a pformation strategy in order to maintain its normal operation, but it has not achieved very good results.

The precious birds tried to pform and improve their business conditions, but diversified development ended in failure.

It is understood that in 2015, the company invested 240 million yuan to participate in the financing of tiger sports, invested 20 million euros to invest in Spanish football brokerage companies; in 2016, the precious bird invested 383 million yuan to hold a sporting goods retailer's Jay trip, and invested 382 million 500 thousand yuan to acquire Xiamen.

A 51% stake in the bank invested $26 million to acquire the basketball equipment brand AND1, funded 260 million and co sponsored the establishment of Ankang insurance with a number of companies; in 2017, the company intends to invest 2 billion 700 million yuan in the acquisition of Welsh fitness, but ultimately failed.

The reporter looked at the company's financial data, found that the money of the precious birds has been reduced by about 1 billion yuan since 2015, and its accounts receivable is also increasing.

Many mergers and acquisitions are not only of very little benefit, but also outflow of funds.

Diversified development is hindered, so the "noble birds" begin to "sell their property".

In August this year, it announced that after four years of holding, 13.66% of the tiger's sports equity sold by the company would be pferred for 273 million yuan, and the pfer of 37% of the shares pferred by the subsidiary company's sports management and consulting company to the National Sports City Limited by Share Ltd of Jinjiang amounted to 143 million yuan.

Min Guangya, an expert in clothing retailing management, told the China Commercial Daily reporter that the cross-border operation of enterprises must be well aware of the industry situation. Blind crossing is an irrational decision for enterprises.

You go to areas where you are not good at it, leading to a pformation that is not ideal.

However, the cross border investment of noble birds is not related and can not develop in concert.

And other businesses can neither concentrate on the management and operation of the main business, nor bring the corresponding assets growth to the enterprises.

Insiders believe that

Fierce competition in the market, enterprises in the industry have sought a way out, but the development strategy must be carefully considered by the management of the enterprise.

Obviously, the management of expensive birds is difficult to make the profit growth of enterprises.