If Han Holdings Responded To The Withdrawal Of 8 Shareholders, It Is Part Of The Listing Reorganization.

Known as "China net red electricity supplier first share", such as Han holdings, since the listing is not optimistic, its share price has fallen again and again, in just two months, the market value has shrunk by 70%, and now Alibaba and other shareholders' withdrawal rumors, no doubt, such as Han holding "snow frost."

According to the enterprises' data, in May 29th, Hangzhou's Cmi Holdings Ltd changed business, Alibaba, Jun Lian capital, Sai Fu investment, Kunlun Wan Wei, far mirror venture capital, Qiming venture capital, Zhong Ding capital and so on, all of them withdrew from the company's shareholders, while 4 directors quit.

After the withdrawal, the company had 4 natural shareholders, namely, Feng Min, Annan, Shen Chao and Zhang Yu.

At the same time, the directors of the Division also changed.

In June 2nd, the Yangtze River Commercial Daily reporter was informed that, for the market rumors, Alibaba and other 8 shareholders quit rumors, such as Han internal staff responded that the news is misleading. If Hangzhou is not a company such as Han holding system, the relevant shareholders withdraw from Hangzhou and become a controlling shareholder, which is part of the latter's listing reorganization.

Market value shrank by 70% in two months.

According to the source, Hangzhou is the former shareholder of Agel Ecommerce Ltd in Hangzhou. After the pre listing restructuring of Han holdings, Hangzhou's control has been pferred to Han holdings, and Hangzhou is no longer a company in the Han holding system.

Statistics show that if Han holdings submitted the final prospectus to the US Securities and Exchange Commission (SEC) on April 2019 3, it officially signed on the Nasdaq Stock Code "RUHN", which disclosed that Alibaba, Jun Lian capital and Sai Fu investments were all shareholders like Han holdings. The shareholding ratio after the offering of shares was 7.5%, and its shares were subject to the 180 day locking period after being listed, and were not sold or pferred.

It is worth noting that if Han holdings dropped 37.2% on the first day of listing and continued to decline in 5 trading days, as of June 3rd this year, its stock price was quoted at 3.75 US dollars, which has dropped 80% compared with the IPO issue price of 12.50 US dollars. In just two months, the market value has also shrunk by 70%.

In fact, such as Han holding "net red + community + business" mode, although it can bring high revenue to the electronic business platform, but this net red economy also has certain drawbacks.

In the 2017-2019 fiscal year, such as Han holdings achieved 1 billion 200 million yuan, 2 billion yuan and 2 billion 200 million yuan GMV respectively in the electronic business platform.

Among them, Zhang Dayi shops accounted for 50.8%, 52.4% and 53.5% of total revenue contribution.

The proportion of Zhang Dayi's brand in total revenue has been rising and it is enough to show that its dependence is too strong.

Incubation network red accompanied by huge marketing costs

It is worth noting that, compared with the annual growth of revenue, such as Han holdings is continuing losses.

Data show that from 2017 to 2018 fiscal year, such as Han's operating loss expanded from 21 million 830 thousand yuan to 72 million 350 thousand yuan, net loss expanded from 40 million 100 thousand yuan to 89 million 950 thousand yuan.

The reason for loss, such as Han holdings, has explained that this is mainly due to the product sales and marketing costs, performance costs and other projects more.

Data show that the sales and marketing costs of the first 9 months ended December 31, 2018 were 158 million yuan, up 41.34% from the same period last year, and the performance cost was 99 million 517 thousand yuan, an increase of 39.33% over the previous year.

On the other hand, the cost of hatching new net red is getting higher and higher. The emergence of red head has great opportunistic nature. It is almost impossible to rely on hatching.

The data show that the marketing expenses such as Han Net red are increasing year by year, from 9 million 920 thousand in the second quarter of 2016 to 70 million 840 thousand in the fourth quarter of 2018. The net marketing cost per capita is 630 thousand yuan per person in the fourth quarter of 2018.

An industry insider interviewed by the Yangtze River Commercial Daily said: "every network has a cycle of life and traffic.

Just like the explosive process, it is difficult to ensure that there is a continuous effect. Once the subsequent development fails to follow, there will be a fault.

In addition, in the context of consumption upgrading, how to manage these net red, to maintain continuous progress and product prices, are facing the test.