What is the most talked about garment industry in 2019? "Hard" is probably the most appropriate word. The complexity of the international environment, the continuous changes in consumption, the lack of market growth and the killing of businesses make the garment industry face enormous pressure. Delisting, declining performance, and selling subsidiaries... Every step of the way tells that clothing brands are experiencing an ebb and flow in 2019. In the past 2019, clothing brands can be said to be happy and sad. In the youth dominated consumer market, everyone has different attitudes to face. Xiaobian Take a look at which brands have been struggling in the past year.
Delisting
Listing for six years, suspended for three years, after struggling for several years, fortune bird finally chose to withdraw from the market. In August 26, 2019, the 3 year old bird officially declared bankruptcy and delisting. In August 24, 2019, Fu Gui bird received the announcement of the intermediate people's Court of Quanzhou, Fujian, and the civil ruling of the Quanzhou intermediate people's court. The ruling ruled that the Limited by Share Ltd manager of the Gui Gui bird rejected the application for approval of the draft reorganization plan and terminated the Limited by Share Ltd's reorganization process, declaring the bankruptcy of Fu Gui bird Limited by Share Ltd. Listed in November 18, 2019 To review The board announced the decision of the listing committee to cancel the listing status of the rich birds. In November 25th, the Hong Kong Stock Exchange officially abolished the listing status of the lucky birds from 9 a.m. In fact, in August 9, 2019, the listing committee cancelled the listing of fortune birds in the HKEx. In August 20th, Fu Fu bird handed in the materials to seek a review of the ruling of the listing committee, and finally failed. The former "real leather shoes king of China" officially went down the altar. In 1995, the bird of wealth and fortune rose all the way, and was listed on the Hong Kong Stock Exchange in 2013. It also hit a new high in 2014, with a net profit of 450 million yuan. But soon came the dark moment. In 2015, its performance continued to decline to 392 million yuan, and the net profit in 2016 was 163 million yuan. The sustained decline in performance resulted in no further performance in the first half of 2017, and the suspension began in August 2016. After the decline in performance, the rich birds tried to save themselves by investing in P2P to try the financial road. In April of 2015, Fu Fu bird invested in Fu Ying financial information service (Beijing) Co., Ltd. (referred to as "Fu Yin finance"), and invested in P2P platform win win society and Ding Dong wallet. However, because of the huge investment amount and poor management, rich birds have led to the breakup of the capital chain of Ding Dong wallet. Since then, the rich birds have suffered a serious debt crisis and are unable to extricate themselves from any difficulty step by step. After the announcement of bankruptcy, in October 9th, the first auction of fortune bird bankruptcy assets was made. The starting price was 284 million. No one signed up. In October 17th, assets were beaten by twenty percent off, and second auctions were held. No one was interested in it until October 29th. Finally, the rich bird finally received a price of 234 million. Expensive bird: debt ridden and filming
It is also a difficult day for Fujian's Jinjiang people to come out, and it is struggling for the risk of delisting because it is "the first sports of A shares in China". In December 2, 2019, the precious bird announced that the "14 noble birds" bonds due in December 3, 2019 could not be paid on schedule. They will be suspended from the comprehensive electronic platform of the Shanghai stock exchange fixed income securities since December 3, 2019. According to statistics, the total liabilities of the birds as of September 30th amounted to 3 billion 342 million yuan, and the asset liability ratio was 68.42%. The interest bearing debt amount was 2 billion 624 million yuan, of which the short-term debt amount was 2 billion 598 million yuan, while the money on the expensive bird account was only 15 million 290 thousand yuan. In order to repay debts, they tried to raise funds through multiple channels, sell assets, actively seek creditors' reconciliation plans with creditors, and promote production and business activities. However, they did not solve the problem of high debts. In late November 2019, 30 million shares of tradable shares held by the noble bird controlling shareholder, the noble bird group, were transferred to the judicial auction platform of Xiamen intermediate people's Court of Fujian province for the first public auction, but it was left unsold and had to be sold. It is worth noting that in December 17, 2019, the price of the popular birds was 18, 19 and two, and the share price continued to rise, or 9.91%. Besides, the birds also suffered an account freeze. On the evening of December 17, 2019, the birds announced that some of their bank accounts were frozen, and the total amount of frozen accounts was 909 thousand and 400 yuan. The main reason for the freeze was that they failed to honour the "14 noble bird" bond interest on time. Some of the bondholders applied for property preservation to the judiciary. In December 25, 2019, the "risk warning notice" issued by the noble bird showed that in 2018, the business revenue reached 28 billion and a loss of 680 million yuan. In the 1-9 quarter of 2019, the operating income of the three quarter was 1 billion 170 million yuan, and net profit was 160 million yuan. If you lose money in 2019, you will be warned of delisting risks. It can be said that every enterprise has gone through a period of high light. From the factory to the establishment of the brand, the development scale has been expanding and the performance has continued to improve. In January 2014, the successful bird landed on the Shanghai Stock Exchange, and its share price soared. At the highest price, the stock price reached 69.37 yuan / share, and its market value exceeded 40 billion yuan. Facing the escalation of the consumer market, the expensive birds of the post market are in a downward trend, opening a large-scale closed shop mode, and the number of stores from 5560 to 2685 in the first half of 2019. The first half of 2019 continued the decline in 2018, operating income reached 810 million yuan, a decline of 47.27%, net profit of -0.58 billion. The decline of net profit, the failure of capital distribution, the overdue debt, the difficult transformation, the stock market auction and the accounts freeze. In 2019, the birds and birds could speak up and down, and the opportunity to turn better is hard to come across.
Pathfinder: "sell, sell, sell" hard to welcome dawn.
The Pathfinder in 2019 is more like a "clearance sale" rather than an irrelevant business. In June 6, 2019, the Pathfinder issued a notice that the sale of Beijing city Haidian District 1659.99 square meters of the company's own commercial real estate, is expected to increase the company's current net profit of about 38 million yuan. In November 14, 2019, the Pathfinder announced that he transferred the 29% equity interest of Beijing Yi Chun World International Travel Service (Beijing) Limited ("Yi you world") to the spring Guang Guang brocade management consulting service center (limited partnership), and the share transfer amount was 7 million 406 thousand and 600 yuan. In December 3, 2019, the Pathfinder withdrew from its subsidiary, Qingdao Xin Shun Da business limited company. In response, the responsible person of the Pathfinder responded that the matter belonged to the optimization and adjustment of the internal business of the company's outdoor main business, and the company withdrew its investment in Qingdao's subsidiaries this year. This transaction has little impact on the company's business performance and has not reached the standard of external information disclosure. The Pathfinder who advocated diversified development began to peel off the sideline industry through the way of "thin body" and advocated returning to the main business of outdoor sports. Rather than peeling off, the Pathfinder is more likely to retain his position as a listed company in the face of danger. After all, the declining performance of the main business has not improved, and can only be achieved through the means of "selling, selling and selling". In fact, since August 2019, Pathfinder has issued 18 risk warning for suspending the listing, pointing out that if there is any further loss in 2019, the Pathfinder will be suspended from listing. The net profit of the Pathfinder in 2016 -2018 was 294 million yuan, 263 million yuan, 166 million yuan, 84 million 850 thousand yuan and -1.81 billion yuan respectively, and net profit was more serious than the year after year. Based on this, Pathfinder made the choice of introducing shareholders. In December 31, 2019, the Pathfinder announced that Sheng Faqiang and Wang Jing, the controlling shareholder and the actual controller of the Beijing, had completed the transfer registration to the Shenzhen branch of China Securities Depository and Clearing Co., Ltd., with the transfer of 68 million 921 thousand and 672 tradable shares of the company through the transfer of the company's equity investment center (limited partnership). Pathfinder said that after the completion of the share transfer, the company will introduce important strategic shareholders to the company, which will further optimize the company's ownership structure and governance structure, enhance the competitiveness of the company and enhance the company's value.
La Natsu Bell: broken arm for survival
La Natsu Bell, the "National Women's wear brand" in 2019, can be described as a "dark" year. Stores closed, market value shrunk, and performance losses. La Natsu Bell, who had "run", could not run. In order to focus on the main business, La Natsu Bell stripped off as little investment as possible to the main business. La Natsu Bell announced in early May 2019 that he intends to sell his controlling subsidiary, Hangzhou, which has a 54.05% stake in Agel Ecommerce Ltd. The transaction price is about 200 million yuan. The proceeds from the sale will mainly be used for the development of the company's business. In July 20, 2019, La Natsu Bell announced that a wholly owned subsidiary of La Xia management was transferred to Tianjin star Kuang 98.04% share with a transfer of 275 million yuan. On the evening of December 18, 2019, La Natsu Bell announced that a wholly owned subsidiary, the 60% equity interest in the form of inter industry, will be transferred to the Blue Lake investment management consulting (Shanghai) Limited company by 1 yuan. As of November 30th, Form border Industrial net assets amounted to -5057.43 million yuan. Selling subsidiaries three times a year, by selling the subsidiary companies to return the funds to maintain the company's business and ease the pressure of business operation, can only be solved in the short term. If we want to solve the problem fundamentally, we need to make a comprehensive strategic plan. On the evening of June 11, 2019, La Natsu Bell announced that because of the fluctuation of stock prices and the initial Pledged Shares of the company, Mr. Xing Jiaxing had supplemented the 9 million 600 thousand shares of the company's A shares. After the expansion, La Natsu Bell should ease the shortage of liquidity through pledge shares. In fact, the stripping of irrelevant business is only one of La Natsu Bell's means to ease financial pressure. The direct battalion model, which was once proud by the people of La summer, has reached the top 9000 stores in its highest number. Now it has become the "hind leg" of the enterprise. In the continued decline in performance, La Natsu Bell can only propose continuous optimization of offline store structure, resolutely close the loss and inefficient stores decision-making, only in the first three quarters of 2019, the closure of 3756 to 5513. For the adjustment of stores and businesses, La Natsu Bell did not get results, but on the contrary, his performance deteriorated further. In the first three quarters of 2019, La Natsu Bell achieved 3756 business income. Net profit reached -8.25 billion yuan, down 444.69% compared with the same period last year. In August 2019, Xing Jiaxing once told the media that it is expected that six months to a year, La Natsu Bell can return to a healthy development. According to the current situation, it is still difficult to reverse the decline.
Urban beauty: hidden danger after expansion
The urban beauty who wants to be young does not seem to have found the right way. In four years, the market value evaporated nearly HK $15 billion, or about 13 billion 500 million yuan. Recently, city beauty issued an early warning. It is expected that the deficit will be nearly 1 billion yuan in 2019. City beauty said in a notice that the company's profit and loss is due to changes in the economic environment and internal demand slowdown. In December 25th, the price of urban beauty fell 2.88% to HK $1.01 / share. In June 21, 2019, the city beauty announced Guan Xiaotong as a new spokesperson and said goodbye to Lin Chiling who had worked together for seven years. It can be seen that under the youth dominated market, urban beauty is eager to become young. Signing new spokesmen also reduces the age of consumers. But if you want to be younger, is it really possible to solve it with a spokesperson? Probably not. Nowadays, most of the underwear that young consumers want is mostly comfortable, simple, individual character, no steel ring, etc. On the street, you can see more or less one of the two city beauty stores. The style is basically sexy and gathering. Maybe a few years ago, many people would visit their stores, but nowadays young people seldom go in, and seldom see the stores of urban beauty. The urban beauty began to expand its channels in the form of multi stores, and focused on two or three line cities, with over 8000 stores in 2015. With the change of the consumer market, the urban beauty model has been gradually abandoned, and the performance in 2016 has experienced a sharp decline. Data show that sales of urban beauty in 2016 dropped by about 8.9% to 4 billion 512 million yuan, and net profit dropped by about 55.2% to 242 million yuan. The net cash earned from operation was converted to 6 million 930 thousand yuan from the net flow of 403 million yuan in 2015. In 2018, its performance rose slightly, with a profit of 378 million yuan. It is worth noting that in August 2019, the city beauty hired Xiao Jiale, senior vice president of Adidas Greater China business as the new chief executive officer, or intends to increase the meaning of sports underwear. In order to transform young people, the success of urban beauty can still be tested by the market.
