La Natsu Bell Lost 5 Million 900 Thousand Of His Lawsuit. Real Control Of Pledge 99.8% Shares

La Natsu Bell, the Chinese version of ZARA, is a little more worried.

On the night of October 15th, La Natsu Bell announced the announcement of proceedings. The wholly owned subsidiary, Chengdu Le Wei Clothing Co., Ltd. (hereinafter referred to as "Chengdu Lok Wei") and Chengdu La Natsu Bell Garments Co., Ltd. (hereinafter referred to as "Chengdu's La Xia") ended the lawsuit with the southern county beautiful home real estate development Co., Ltd. (hereinafter referred to as the "beautiful homeland").

Prior to August 2013, Chengdu rasa signed the "new Century Square housing lease contract in southern county of Sichuan province" with the beautiful home. It agreed that Chengdu rasa could rent beautiful homes, the new Century Square of Nanbu County, Chengdu, and rasa to pay rent to beautiful homes. The lease period was 16 years. In September 25, 2013, Chengdu rasa transferred all rights and obligations to Chengdu Lok Wei.

Based on the arrangement of the company's offline channel optimization and adjustment, Chengdu Le Wei decided to withdraw from the shopping center and terminate the lease contract ahead of time. The two sides failed to negotiate the early termination of the lease contract. The fine home will be Chengdu's Lok and Chengdu rasa, which will be appealed to the court, asking Chengdu to undertake all the losses caused by the premature termination of the contract to the beautiful homeland, of which the rental loss is 1345560 yuan, and the other loss is 25 million yuan.

In the end, the court decided that Chengdu's Lok fine compensation for the beautiful homeland was 5 million 897 thousand yuan, and Chengdu's La Xia was jointly and severally liable. La Natsu Bell believed that there was an error in the fact finding and the application of law in the trial of first instance. It was decided that the compensation amount of Chengdu Lok Wei should be too high. Therefore, Chengdu Lok Wei intends to appeal.

In October 15th, the stock market closed, La Natsu Bell A shares reported 5.04 yuan / share, the market value of 21.7 yuan, compared with the market value of the highest shrinkage of nearly 10 billion yuan.

Worse than losing the lawsuit, La Natsu Bell's deficit accelerated.

After listing in Hong Kong in 2014, La Natsu Bell was listed on the Shanghai Stock Exchange in September 2017. Since then, the situation of La Natsu Bell has been getting worse.

In 2019, La Natsu Bell ushered in the tide of closing shop. In 2011, the number of stores under the La Natsu Bell line was still 1841, and the 9448 stores that reached the peak in 2017, slightly reduced to 9269 in the first half of 2018. Meanwhile, the number of offline stores of the international fast wear giant Zara in the same period was only 7000.

In the first half of 2019, La Natsu Bell switched off more than 2400 stores, averaging more than 13 stores a day, and at the end of June 2019, there were only about 6800 of La Natsu Bell's offline stores.

La Natsu Bell 2019 semi annual report shows that the reporting period achieved a revenue of 3 billion 951 million yuan, down 23.2% from the same period last year, and a net loss of 565 million yuan, down 333.9% from a year earlier.

Misfortunes never come alone. In August 6th, La Natsu Bell issued a notice that the 141 million 600 thousand shares of the limited conditional sale shares of the controlling shareholder and the real controller Xing Jiaxing to Haitong Securities (all A shares) had been lower than the minimum performance guarantee ratio, which had constituted a breach of contract because they were not reacquired in advance and failed to implement the safeguards for performance.

Prior to this, Xing Jiaxing has carried out a number of equity pledge, accumulative total of 141 million 600 thousand shares of the pledge company, accounting for 99.81% of its share of the company directly holding shares.

La Natsu Bell's dilemma has attracted the attention of the Shanghai Stock Exchange.

In August 17th, La Natsu Bell announced that it had received a warning letter from the Shanghai regulatory authority.

According to the Shanghai Supervision Bureau, the net profit disclosed by La Natsu Bell in the January 31, 2019 performance notice is quite different from the actual performance, and has not made sufficient risk hints to the performance from profit to loss. The information disclosure is inaccurate, incomplete and incomplete, which violates the relevant regulations.

In September 19th, La Natsu Bell, chairman, chief executive, chief financial officer and secretaries were criticized by the Shanghai Stock Exchange.

The decision of the disposition said that La Natsu Bell's actual performance in 2018 had a change of profit and loss in comparison with the forecast results, which affected the reasonable expectations of investors and misled investors' decisions. Objections raised by the company and its senior executives were rejected by the Shanghai Stock Exchange.