La Natsu Bell And Other 189 Shares Of Listed First Loss Of Goodwill Reduced To "Culprit"

Due to the impairment of goodwill, in 2018, A shares "landmines" continued, and many listed companies surrendered their report cards with huge performance losses. Under this background, the first stock losing stocks listed in 2018 also increased significantly compared with last year.

Beijing Business Daily reporter through Wind multi-dimensional statistics found that in 2017, the first loss in the stock market has 65 stocks, and in 2018, the number of shares lost the first time in the market reached 189, an increase of two times compared to the same period last year.

The reason behind this is that the impairment of goodwill has become the "culprit behind the scenes".

According to Wind statistics, excluding the stocks that could not disclose the annual reports on schedule, there were 189 shares in Shanghai and Shenzhen two cities in 2018.

Beijing Business Daily reporter through the Wind multi reporting period statistics found that in 2018, a total of Shengyang technology and other 189 enterprises appeared the first loss of listing, of which 2010, 2011, 2012, and 2015 listed companies suffered the largest number of first losses, reaching 33, 27, 23 and 20 respectively.

Moreover, only the number of Listed Companies in the four years listed above exceeded 20 shares in 2018, while those listed in some years did not appear to be the first deficit in 2018, such as 2013, 2005, 1994 and 1991.

Among them, the 5 stocks of Ya Zhen household, cryogenic shares and Hasen shares appeared the first loss of listing. In 2015, 20 of the 20 listed companies, including Tonghe technology, Qianjing garden, kuompu stock and Saimo electric company, appeared the first loss; in 2014, 14 of the companies listed in the listed companies, such as Connie Electromechanical, Sha Pu AISI, noble bird and Tongtong education, appeared the first loss; in 2012 listed companies, 23 stocks, such as palmtop technology and Omar electric appliances, appeared the first loss in listing; 27 listed companies such as unnamed medicine and Julong shares appeared the first loss in listing; specifically, in 2017, 4 listed companies, such as Hua Mai technology and Goss Bell, appeared the first loss in listing; the companies listed in 2016.

In addition, there were 3 shares, 12 shares, 9 shares and 13 shares in the 2006-2009 year listed companies. The first deficit occurred in 12 shares, 9 shares and 13 shares in 2004.

It is worth mentioning that reporters also through the Wind multi reporting period statistics found that in 2017 the first loss of listed companies only 65 shares.

Through calculation, it is easy to see that the first loss of stocks in 2018 increased by 1.91 times compared with the first loss in 2017.

Among the 189 listed companies, La Natsu Bell, Hua Mai technology, Qinan shares, Goss Bell and other four stocks have attracted a great deal of attention in the market, all of which are listed on the stock market in the following year.

First of all, take La Natsu Bell as an example, the company officially landed on A shares in September 25, 2017. Since its inception, the company has focused on the field of clothing and apparel, and is a multi brand and all channel fashion group positioned in the mass consumer market.

In the first year of listing, La Natsu Bell's performance showed signs of pressure. In 2017, net profit fell by 6.29%. In the following year, La Natsu Bell delivered a loss report card. The company lost 160 million yuan in 2018.

Under the pressure of the company's performance, La Natsu Bell launched the idea of selling assets.

In May 8th, La Natsu Bell announced that in order to speed up the pformation and adjustment and concentrate the advantage resources to give full play to the competitive advantage of the core brand, the company intends to pfer the 54.05% stake in Hangzhou's Agel Ecommerce Ltd, which is held by Hangzhou Yan Er Management Consulting Co., Ltd., and the pfer price of the paction is 200 million yuan.

In response to related issues, the Beijing Commercial Daily reporter called La Natsu Bell's office to interview, but no one answered.

In addition, Hua Mai technology, Qinan shares, Gauss and Baer three companies also landed in the capital market in 2017, but they all suffered losses in 2018. The losses were about 110 million yuan, 63 million 650 thousand yuan and 74 million 380 thousand yuan respectively.

The above three enterprises are all the same as La Natsu Bell. In the first year of listing, the company's performance has shown signs of pressure. Among them, Hua Mai technology achieved a net profit of about 73 million 550 thousand yuan in 2017, down 12.4% from the same period last year. The net profit of Qinan shares in 2017 was about 188 million yuan, down 13.55% from the same period last year. The net profit of Baer in 2017 was about 14 million 980 thousand yuan, down 76.58% from the same period last year.

A well-known scholar, New Zealand, pointed out that the loss of Listed Companies in the following year is not common. Investors should pay attention to this. We should analyze the reasons leading to the loss of listed companies and invest cautiously.

In addition, the latest quarterly reports of the four enterprises which were newly disclosed in 2019 were also not ideal. Among them, La Natsu Bell achieved a net profit of about 9 million 750 thousand yuan in the first quarter of this year, a decrease of 94.4% compared with the same period last year. The net profit of Hua Mai technology in the first quarter of this year was about -886 million, down 206.47% compared to the same period last year. Qinan shares realized net profit of about -3198 yuan in the first quarter of this year, and Goss Bell achieved net profit of about -2792 yuan in the first quarter of this year, down 12.73% from the same period last year.

It is worth mentioning that in August 2018, Goss Bell was also investigated by the SFC on suspicion of violation of the letter.

In fact, in this wave of the first stock losing market, goodwill impairment has become the main "behind the scenes culprit".

According to the reporter's observation, many of the 189 stocks listed on the first loss were due to the impairment of goodwill.

For example, the net profit of sea land heavy industry in 2018 was about -1.63 billion yuan, and the company landed on the A share market in June 2008.

At that time, Hai Lu heavy industry indicated that the integrated performance of Jiangnan in 2018 did not reach the expected level. Based on the analysis and forecast of Jiangnan integration in 2018 and future operation, the company considered that there were signs of impairment of goodwill and needed to prepare the corresponding goodwill impairment allowance, the estimated amount was about 750 million yuan -8.5 billion yuan.

In addition, Tian Zhou Culture and shield an environment are the first losses caused by the impairment of goodwill due to "stepping thunder".

In addition, founder motor is also due to the impairment of goodwill led to the first loss of performance in 2018.

It is reported that Founder motor lost 444 million yuan in 2018, the company landed on the A share market in December 2007.

Financial data show that Fang Zheng motor has been in a flat performance since it was listed. Since 2015, the company has started a major merger and acquisition, and has acquired a number of companies such as Shanghai sea and devise.

With M & A, founder motor's performance also increased significantly compared with the previous one. In 2016, it exceeded 100 million yuan for the first time.

In the 2015-2017 year, the net profit of Founder motors was 65 million 10 thousand yuan, 118 million yuan and 132 million yuan respectively.

It has never been expected that the continuous acquisition will bury the "landmines" for the company, and finally "detonate" in 2018.

At that time, for the reasons of the company's performance losses, founder motor pointed out that the performance of Shanghai Hai and de worth was expected to decline in 2018. It is very clear that after the analysis and prediction of the future business situation, it is judged that the goodwill of the company due to the acquisition of Shanghai's Hai and de worth has a risk of impairment, and the corresponding goodwill impairment provision is required. The estimated amount is about 3.5-4 billion yuan and 0.3-0.6 billion yuan respectively.

In response to related issues, the Beijing business daily telephoned Fangzheng motor secretaries office for an interview. However, as of press release, no answer was received.

Xu Xiaoheng, a senior investment and financing expert, said in an interview with Beijing daily news that goodwill was formed when a company bought assets at a premium.

"Continuous premium acquisition assets can be regarded as a double-edged sword for listed companies. While pushing up the company's performance, it also causes the listed companies to face the risk of goodwill impairment and thereby swallow up corporate profits.

Nowadays, the concentrated outbreak of the first loss of stocks is also a warning for listed companies, and we should pay attention to the hidden trouble of goodwill after mergers and acquisitions.

Xu Xiaoheng said.