Get Rid Of The "Burden" Easy To Travel The World Pathfinder Can "Shell" Success?

Following the sale of the premises, the Pathfinder holding group Limited by Share Ltd (hereinafter referred to as the Pathfinder) announced that it wanted to transfer the 29% stake of its subsidiary International Travel Service (Beijing) Limited. It is reported that this year is an important node for the Pathfinder to protect the shell, but the easy travel world has been losing money for many years. After losing this burden, the Pathfinder named "outdoor goods first share" can be successful in "shell preservation"?

Easy to travel the world after years of loss has been transferred

It is reported that the Pathfinder will transfer the easy travel world to Beijing spring light brocade management consulting service center at the price of 7 million 406 thousand and 600 yuan (hereinafter referred to as spring light brocade). If the transfer is completed, the proportion of easy to travel world equity held by Pathfinder will be reduced to about 46.53%, so that Yi can not be included in the company's consolidated statement.

As for the reasons for the transfer of the world's equity, the Pathfinder said that the move was aimed at "focusing on the main business of outdoor products and gradually withdrawing from the business not related to outdoor main business".

According to public information, the easy travel world was established in December 2007, and its main business includes entry and exit tourism business, air ticket sales agent, etc. As of September 30th this year, the total assets of the company amounted to 77 million 116 thousand and 100 yuan, with a total debt of 52 million 224 thousand and 400 yuan. In the first three quarters of this year, the company lost 705 thousand and 600 yuan.

It is reported that the relationship between the Pathfinder and Yi hang world is due to the new strategy implemented by the Pathfinder since 2013, and the community ecology of "outdoor business, travel service and three major sports businesses" should be constructed. In 2015, the Explorer made a total of 231 million yuan in the way of equity transfer and capital increase, and made a 74.56% stake in Yi Guo. It is understood that at that time, the Pathfinder and Yi you world also signed a performance bet agreement. Easy to travel world commitments 2015-2017 years of revenue are not less than 1 billion 500 million yuan, 4 billion yuan and 6 billion yuan; net profit target is 2015 loss of not more than 25 million yuan, 2016 profit is more than 0 yuan, 2017 profit 60 million yuan. However, the performance of the "easy to swim" world is not always satisfactory, so the gambling agreement has not been completed successfully.

It is reported that since 2015, the strategic investment of Pathfinder has reached 29% of the equity value of Yi Hai, which has shrunk from over 80 million yuan in 2015 to less than 7 million 500 thousand yuan now. Obviously, the deal has made the Pathfinder suffer a lot.

Pathfinder is expected to turn around this year.

In fact, this year is an important gateway for the Pathfinder. China Commercial Daily reporter noted that the Pathfinder lost two consecutive years in 2017 and 2018. If its annual audit report is finally determined to be a loss, according to the relevant provisions, the company's shares will be suspended from the date of the disclosure of the annual report this year. The Shenzhen stock exchange will decide whether to suspend the market share of the Pathfinder within 15 trading days after the suspension.

However, after divesting part of the stake in the world, the financial situation of the Pathfinder is more optimistic, and it seems that the "shell protection" task has been completed.

The three quarterly report released by Pathfinder showed that the company's revenue in the first three quarters was 987 million yuan, down 20.55% compared to the same period last year, and net profit was 99 million 489 thousand and 500 yuan, up 293.22% over the same period last year. In this regard, Pathfinder explained that the reduction in revenue was due to the company's focus on the main business and the sharp decrease in travel service revenues, and some of the credit for the increase in net profit came from selling cash.

Pathfinder said that the company disposed of part of its own property in the first half of the year to achieve net income after tax 36 million 252 thousand and 600 yuan. At the same time, the loss of non outdoor main businesses also decreased compared with the same period last year. In addition, the government subsidy for the company's profits and losses is 18 million 726 thousand yuan. The company also said that the net profit of this year will be no less than 100 million yuan, and it is expected that this year's goal of turning deficits into profits will be realized.

Securities firm Shen Wan Hongyuan has released a research report that the Pathfinder is going to light up this year and there will be little room for further impairment loss in the future. Meanwhile, store efficiency is expected to increase simultaneously, and this year will usher in a turning point.

Liu Liang, a clothing industry expert, told the China Commercial Daily that the Pathfinder went back to the outdoor business after experiencing some twists and turns. Although the cost of this attempt is relatively large, the outdoor industry market in our country is broad, and the Pathfinder should continue to make efforts in the main industry of outdoor products, focusing on channels, products and marketing, and occupy more market share.