Hasen Shares Continue To Shut Down, Layoffs, Can We Get Out Of The Mire?

After the listing, the performance continued to decline.

Shares finally gained the first loss in 2018.

In the face of rapid change

Hasen shares have been trapped in "internal and external difficulties".

China's traditional offline channels can no longer cope with the changes in the retail industry. After the loss of the advantage of low labor costs, the export orders continue to accelerate.

In recent two years, Hasen shares have been closed and laid off. Can they get out of the mire?

The curse of listing performance dropped on the head of Hasen, 603958.SH.

According to the latest performance forecast, the net profit attributable to Hasen shares in 2018 is estimated to be around 70 million yuan, and the net profit is about 121 million yuan.

The huge loss in 2018 was only a continuation of the sharp decline in performance after the listing of the company in 2016.

Data show that the company listed on the same year, that is, the operating income and net profit attributable to both fell sharply.

The following year, the downward trend has further intensified. The net profit attributable to the whole year is only 18 million 170 thousand yuan, down 77.42% compared with the same period last year. The net profit is the first time it recorded a loss of 11 million 770 thousand yuan.

In fact, before the listing, the performance volatility of Hasen shares has emerged.

In 2014, both revenues and net profits fell.

Although net profit rose in 2015, operating income fell again.

For the loss in 2018, the company explained that it was due to the decrease in domestic sales, the deterioration of export orders, the welfare of large dismissal, and the provision of bad debts for some accounts receivable.

Hasen shares are well-known in China.

In addition to self-supporting brands such as Hasen, enterprises also act as OEM for international brands.

In recent years, due to the low domestic labor costs and other advantages, the company's export earnings continued to decline.

By 2017, the export revenue of the company was only 153 million yuan, less than half of that in 2015.

The performance of Hasen shares declined, accompanied by company closes and layoffs.

Data show that the company has layoffs in recent two years.

In the first 10 months of 2017, 466 employees were laid off, resulting in 16 million 900 thousand yuan of dismissal benefits.

The company expects November -12 months, will still produce dismissal benefits 2 million 100 thousand yuan.

The scope of layoffs involves parent companies, subsidiaries, Kunshan Zhenxing footwear industry and Shenzhen Zhenxing footwear industry.

According to the world clothing and shoe net, in 2018, with the further shrinking of the export business of the company, Shenzhen Zhenxing, a subsidiary of the main export business, continued to lay off workers, and laid off 449 employees, resulting in 24 million 520 thousand yuan of dismissal benefits.

Hasen shares in the domestic main Hasen, Cardenal and other private brands, at the same time acting Nobeda, AS and other brands, under the line to direct the main business, to join as a supplement.

In recent two years, the company has closed shop continuously.

At the end of 2016, the company had 1856 stores, and by the end of 2017, there were 1697 stores and 159 outlets.

By the end of the first three quarters of 2018, there were 1606 remaining stores.

Direct sales oriented mode of sales, so that Hasen stock high inventory risk always exists.

As of the end of the three quarter of 2018, the company's inventory amounted to 601 million 700 thousand yuan, accounting for 53.1% of current assets, accounting for 43.2% of total assets.

The current development of the company has directly affected the investment of the fund-raising funds.

In June 2016, Hasen shares were listed, raising 449 million yuan (net), promising to invest in three major projects, such as marketing network, leather shoes production and information technology. Among them, the construction of marketing network is about to invest 349 million yuan.

The top two projects were originally scheduled to reach their intended use in June 30, 2018.

By the end of 2017, the investment in the marketing network has reached 89.74%, and the production of leather shoes has not yet been invested.

In April 2018, the company planned to use the two major projects from June 30, 2018 to December 31, 2019.

The company said that because of changes in consumer buying habits and changes in the retail environment, companies are more cautious about expanding new offline retail outlets.

Affected by factors such as slow shop speed and rising labor costs, the extension of the company's leather shoes production is postponed.

Hasen shares were controlled by the Chen Yuzhen family. After the listing of the company, Chen family controlled 178 million shares of listed companies through Zhenxing international and Zhenshi investment, accounting for 68.82% of the total share capital of listed companies.

At present, this part of the stock has not yet reached the lifting of the ban period.

Xinrong investment is the second largest shareholder of the company, holding 5 million 751 thousand and 700 shares of listed companies, accounting for 2.62% of the total share capital.

Xinrong investment is a company that shares 42.88% and 34.23% of Liao Rongwen, Chen and deputy general manager, respectively.

After the expiration of 1 years' listing of Hasen shares, Xinrong investment is no more than 2 million 467 thousand and 200 shares, and in the end of the implementation period, only 100 thousand shares have been reduced, and the reduction price is 25.15-25.93 yuan / share.

The announcement indicated that during the period of reduction, the share price of the company fell, and Xinrong investment only implemented partial reduction.

In June 2018, the company announced again that Xinrong investment should not be reduced by more than 700 thousand shares due to the need for capital, and that by the end of 2018, the period of the reduction plan expired and the stock price fell and so on.

In January 25th, Hasen shares closed down for 8.1 yuan.

More interesting reports, please pay attention to the world clothing shoes and hats net.