Shares Are Auctioned, Busen Shares Or Re Owners

22 million 400 thousand shares of Busen were auctioned off by law.

Following the three degree change in 2015, 2016 and 2017, Busen shares are being auctioned again.

According to the announcement issued recently by Busen shares, the first intermediate people's Court of Shanghai will auction publicly all the shares held by Busen's controlling shareholder.

Once the auction is completed, it means Busen shares will be changed again in less than two years.

As a matter of fact, after seeing Zhao Chunxia and Busen in 2017, he was troubled. The controlling stake was once in a precarious position and was involved in Xu Maodong's lawsuit.

During the period, the company also held all pledge of its shares for financing, but Busen's share price continued to decline due to market influence.

By the beginning of June 2018, the 22 million 400 thousand stocks of the company's pledge to the Warburg trust company were all close to the closing line. Owing to the failure to fulfill the obligation of repurchase, Warburg trust will eventually see the technology in the courtroom and freeze the shares of the 22 million 400 thousand shares of the Busen company, which accounts for 16% of the total share capital of the company.

Moreover, in August 2018, Zhao Chunxia's P2P platform was overdue in love investment. As of September 30, 2018, the total amount of loans invested by AI investment platform was 42 billion 118 million yuan, and the overdue amount had reached 2 billion 448 million yuan.

In the eyes of the outside world, under the "internal and external troubles" of the real controller Zhao Chunxia, it is almost inevitable that Busen shares will be changed again.

In this regard, Busen shares declared in the announcement that the company and its controlling shareholders are different in technology and are independent of their controlling shareholders in terms of assets, business and finance.

At present, the company's daily operation and production activities are normal, and this matter will not have a significant adverse impact on the normal production and operation of the company.

Statistics show that Busen's main business is men's clothing design, production and sales.

Since its listing in 2011, Busen shares have been declining.

After seeing the technology take over Busen holding power, it once took financial technology as the direction of pformation. However, in April 2018, Busen shares introduced the development plan of the company in the next five years. It indicated that it would take the men's clothing business as the starting point, make full use of the resources and competitive advantages accumulated by the company in the apparel industry for many years, and focus on fashion dress as the core to layout the fashion industry and integrate the development of new retail business.

In early June 2018, Busen shares also planned to buy all or part of the stake in Beijing Mccauley technology limited.

However, by the end of 2018, Busen announced that it had decided to terminate the reorganization and change it into a strategic investment, so that it would buy Mccauley's 10% stake by 20 million yuan in cash.

The failure of the acquisition made Busen's stock performance face greater challenges.

Financial reports show that in the first three quarters of 2018, the net profit of Busen shares was 5 million 561 thousand and 900 yuan, and the net profit of annual performance forecast was 2 million yuan to 5 million yuan.

In 2017, Busen shares lost 33 million 807 thousand yuan in net profit. If the performance continued to suffer losses in 2018, according to relevant regulations, it would be implemented to withdraw the market risk warning and wear the "ST" hat.