Anger Fell 16, Herme Was Very Beautiful.

Since May 6th, after the "star wearing hat", Herme group (now "*ST Herme", 002356.SZ) has begun to decline, and as of May 27th, it has even brushed 16 down limits, which is a drop in the eyeball.

Prior to that, many executives of Herme group made a statement that the company's 2018 earnings report could not guarantee the content is true, accurate and complete, and even made A shares an uproar.

Once, the mercurial Hertz group once looked "very beautiful".

But now the tide is receding, and the washing of the lead is no longer true.

16 stars in the sky

After the special treatment of "delisting risk warning" was implemented in May 6th, Herme's share price went down and down.

As of May 27th, Herme group's share price has even brushed 16 down boards, closing at 3.87 yuan / share that day, compared with the price of 8.80 yuan / share in May 6th.

The most direct reason for Herme's share price is "wearing stars and wearing caps".

In April 30th, Herme group released its annual report in 2018.

In this annual report, Guangdong central Zhujiang accounting firm issued an audit report which could not express its opinions, which pushed Herme group to the edge of delisting.

Before that, Herme group has just experienced a wave of roller coaster.

From the more than 10 daily limit to the more than 10 limit, from the peak of 21.41 yuan / share to the current 3.87 yuan / share, the three months of Herme group, really let A stock investors have long been knowledgeable.

In addition to the accounting firm's "inability to express opinions", this plunge is also related to the "wonderful flowers" in the Herme group's annual report.

Its annual report shows that many executives of Herme group, including the general manager, deputy general manager and chief financial officer, can not guarantee the authenticity, accuracy and completeness of the annual report content.

The Shenzhen Stock Exchange issued a letter of concern on the face of the "great things" that the executives of the listed companies made to their own annual reports. They asked the company to give a reasonable explanation of the related issues in the company's annual report by May 8th.

In May 14th, the Shenzhen stock exchange sent another inquiry letter to the company.

In the face of successive inquiries by the Shenzhen Stock Exchange, Herme group delayed its time and finally answered the letter of concern in May 18th.

During the reply, Herme group shirk the related issues on the grounds of "policy changes, resulting in difficulties in capital turnover".

However, the Hertz group chose to postpone the question of "unable to express opinions" and "unable to guarantee the contents of annual reports".

"We should ask for revision of the earnings report, otherwise the shareholders can propose a reorganization of the board of directors."

Song Yixin, lawyer of Shanghai Han Lian law firm, said to wild horse Finance (WeChat public number: ymcj8686).

Song lawyer directly said: "this shows that there is a problem of false statements."

In Herme group's annual report, the financial data is indeed amazing.

Amazing annual reports

According to Herme group's earnings report, hermark group's operating income during the reporting period was 1 billion 918 million yuan, down 20.44% compared to the same period last year. Net profit loss was 1 billion 615 million yuan, down 1221.45% compared to the same period last year. The net profit margin was 1 billion 906 million yuan, down 2729.87% from the same period last year.

No wonder the central Zhujiang accounting firm will not be able to give an opinion on the annual report of Herme group. As a senior manager of the company, the senior manager of the company is going to clear the relationship in a variety of ways.

In response, Xie Lianjie, lawyer of Beijing Ying Ke (Shanghai), said to the Mustang finance and Economics (micro signal: YMCJ8686): "the senior executives have not proved that they have fulfilled their duty of diligence and duty. Therefore, the executives of the company declared that it is difficult to comply with the existing regulations and there is a greater risk of non compliance."

Dong Jiangao's behavior is not only dereliction of duty, but also trample on the interests of the small and medium-sized shareholders.

Song Yixin lawyer said: "small and medium-sized shareholders can complain to the SFC and request for investigation."

As for what punishment the Herman group will face, Xie Lianjie lawyer said: "to see if the final decision will be made by the SFC and the Shenzhen Stock Exchange,"

A series of bad news followed. After the resumption of trading in May 6th, Herman group of "star wearing hat" continued to decline.

What is more frightening is that after Herme group can not change this situation, the fear of delisting is near.

In this regard, wild horse Finance (micro signal: YMCJ8686) call Herme group, the other party hastily hung up the phone.

This scene of Herme group is hard to connect with the scenery of "hero saving America" which was staged a few months ago.

In March 3, 2019, Herme group disclosed a plan for major asset reorganization, which said that Herme group will absorb the assets of listed company's hero mutual entertainment through the form of additional shares. Once the paction is concluded, the hero mutual entertainment will achieve "backdoor" listing.

It is precisely because of this positive impact, Herme group only ten consecutive trading boards, stock prices rushed to the highest peak of 21.41 yuan / share.

But "good dreams are easy to wake up". A month later, with the hero's mutual amusement, he said that because he repeatedly violated the two sides' agreement, his cooperation with Herme group ended.

Subsequently, Herme group price limit.

And the "wonderful flowers" annual report was released, but also pushed the company into the "storm".

In fact, for the investors who understand Herme group's "fickle history", this "storm" may have come earlier.

"Look at my seventy-two changes".

"Look at my seventy-two changes, today's fresh change goodbye", this is Jolin's "watching my 72 changes" in the lyrics.

Since its listing, Herme group has shown great changes in technology through mergers and acquisitions, asset sales and so on.

The Herme group, which has changed its main business many times, has not yet reached the "beauty limit".

Ho Ning DA Instrument Limited by Share Ltd, which is the name of Herme group listed in 2010, does not sound as beautiful as it is now.

The Hanqiao machine factory, as its controlling shareholder, exposes its manufacturing identity, which is defined as "too plain" by some media.

In the first few years of listing, the company's revenue is still very "beautiful", and in the first 4 years, a compound growth rate of 21.17%.

But behind this beauty is the successive decline in net profits.

In 2014, in the face of "declining" financial statements, the management decision made by Herman's management also opened its "changing journey".

Like most of the "pformation techniques", Herme's "change" is often a flash in the pan.

After the acquisition of every carat for jewelry in 2014, not only did Herman's image become beautiful, but also the financial statements became "beautiful".

However, it did not last long. In 2016, the performance of the United States KRA appeared to be a sign of a sharp decline in its performance. At this time, how did the renamed Herme group allow such a "beauty"?

It is a decisive sale of each carat.

Before that, Herme group, who loves beauty, began to lay out the P2P field, and in 2015, it had a relationship with Tang Jun.

(for details, please reply to the keyword "Tang Jun" from the background).

In 2017, although the Herme group "evade the wrong way" to avoid the thunder of the group lending network, but before the sharp change of the mutual gold industry, the new "pformation" has not allowed Herman to regain "beauty".

In 2017, the net profit of its mutual gold business has dropped from nearly 30 million to less than 300 thousand.

This time the herm group took aim at the fashion industry and striving to become an international brand operator.

For a while, the positioning on the high position made the stock price feel that the feel was right. In 2017, the annual line of Herman's stock price appeared a rare positive line.

However, this "beauty of change" has not lasted for a long time.

According to Herme group's semi annual report in 2018, the total loss of business was 11 million 14 thousand and 300 yuan since the restructuring.

This situation is so familiar to Herme group that it will once again display "change technology" to beautify its performance by selling non core assets.

In 2019, the Herman group, which changed its main business and sold non core assets, had to upgrade its technology to face the fire in the backyard of the controlling shareholder due to debt disputes.

So there is a drama called "sell shells and save themselves" mentioned above.

However, whenever the "change" is finally illusory, when everything comes to the surface, you can find out who is swimming naked.