Once Known As The Chinese Version Of Zara, Lashabel'S 100 Million Shares Auction

Recently, La chapel released a notice on the progress of the judicial auction of the actual controller's shares, which showed that according to the auction results displayed by the judicial assistance execution platform of Shanghai Stock Exchange, all the 141.6 million A-shares of the company held by Xing Jiaxing have been completed by bidding. If the transfer of all or most of the 141.6 million shares of the company to be auctioned will lead to changes in the controlling shareholders and actual controllers of the company.

According to the previous information announcement, all of Xing Jiaxing's direct shares have been used for financing by means of pledge. Due to the failure to repay on time, all the shares will be auctioned on March 5, 2021. In combination with the announcement announced by La charbelle on the evening of March 7, the bidders of Beijing Xiya Yijia, Everbright Tongrong and Xinjiang Xiya Yijia completed a total of 80 million shares of the company; Shanghai Wensheng assets indirectly held 100% of the shares of Shanghai Qijin enterprise management partnership (limited partnership), with a total of 61.6 million shares of the company.

According to tianyancha data, Beijing Xiya Yijia and Xinjiang Xiya Yijia belong to Xiya Yijia commerce and Trade Group Co., Ltd., while Xiya Yijia is wholly owned by Zhongke Tongrong investment fund management (Beijing) Co., Ltd., and the ultimate beneficiary is Wang Guanghui. It is reported that Xiya clothing company is mainly engaged in the clothing retail business of international fast fashion clothing brand C & A in China.

La Chabel, once known as the Chinese version of Zara. In recent years, it has been listed in A-share market for successive years, but it has not been out of the operating dilemma.

Looking back on the past financial reports of La chapel, in 2017, that is, the year when La chapel landed on A-share market, its annual net operating value reached 600 million yuan, and 9448 stores were opened nationwide. However, Haojing only lasted for two years, with a loss of nearly 2.3 billion in 2020, and by the end of 2020, the company only had more than 900 stores in China.

However, it never occurred to me that the decline was not alleviated but intensified. According to the recent announcement of La chapel, previously, La chapel has disclosed to investors for the second time that there may be a risk warning of delisting of A-share shares. It is insolvent and its net assets are negative.

Moreover, the top management of La chapel has changed frequently. Since June 2018, 16 resignations have been disclosed according to the announcement, involving 19 directors, supervisors and senior executives, such as secretary of the board, President, chairman and other positions. In the position of president, there were four people changed in a year, including Xing Jiaxing.

Although La chapel has been trying to save itself: closing some offline stores, adjusting online business and selling subsidiaries, it has not made the overall trend better, but has fallen into a vicious circle.

Although this judicial auction has produced bidding results, there are still some links involved in the follow-up, such as the payment of the balance of transaction price, the court's decision on the transaction, and the handling of transfer registration procedures, the final result of this auction is still uncertain. But the future La chapel, if want to turn over, is bound to need a catcher to carry out a comprehensive readjustment, the current hope will be pinned on Xiya clothing home.