Re Acquisition Of Tourism Companies, The Main Business Of The Company Is "Empty Shell"?

The main business is hard to do.

After being held by cedar holdings, 002485.SZ, a listed company that once dominated the brand of men's clothing, is continuing to plan its tourism sector.

In June 6th, he issued a notice of suspension of major asset reorganization. The company intends to acquire 100% equity interest in Lijiang ERON Garden Investment Limited and Lijiang Huilong Tourism Development Co., Ltd. through issuing shares or paying cash.

According to the announcement, this paction is Guangzhou Xing Xing.

The blue whale producer found that Guangzhou Xing Xing is wholly owned by Jun Hua group, while the You Jun group holding 71.5% stake.

This is not the first time that he has bought a travel company.

In March 14th, he issued a notice that the company intends to acquire 100% stake in Shangri-La Renhua Real Estate Co., Ltd. and 90% equity interest in Xi'an Tian Nan Cultural Tourism Development Co., Ltd., and the purchase price is 50 million yuan and 90 million yuan respectively.

The company said that the merger and acquisition of mature tourism projects is conducive to integrating existing tourism resources and business elements, and is a more efficient way to enter the tourism and leisure industry quickly. This acquisition will help to speed up the layout of the company's tourism business and meet the long-term strategic development of the company.

Previously, Hinur had been questioned for three consecutive years of non net profit losses. Hinur said in his reply letter that he would increase the layout of the tourism industry and seek new profit growth points.

Transformation is constrained by the dilemma of business.

As a collection

In recent years, he has been relying on "selling, selling and selling" to improve his performance in the design, production and sale of shirts and clothing products.

In 2014, Hinur's performance fell 165.26%, net loss 46 million; in 2015, the deficit realized a profit of 22 million yuan; in 2016, Hinur's performance fell again, achieving net profit of 7 million 468 thousand and 600 yuan.

It is worth mentioning that the two years of sale were realized by selling assets.

The analysis shows that behind the weak profit is only the means to protect the shell.

Reporters looked at Hinur's financial reports over the years, and found that in 2015, Hinur had sold Beijing's shops and contributed more than 100 million yuan to profits. In 2016, Hinur sold assets such as houses again, earning a profit of about 45 million yuan.

That is to say, if there is no sale of shops, houses and other assets, he has been losing money for 3 consecutive years.

Specifically, in the 2014 to 2016 years, the net profit after the deduction was -0.5 billion, -0.58 billion, -0.51 billion, and continuous losses.

In 2017, Hinur realized a net profit of 35 million, which is also due to the pfer of 100% of the former wholly owned subsidiary of the city, and the sale of its own shops.

Shoes and clothing

Cheng Weixiong, an independent analyst and general manager of Shanghai Liang Qi brand, told blue whale producer that he had gone through declining performance, controlling shareholder changes, and selling assets in recent years, which has become increasingly far away from the main garment industry.

Even though the clothing business is still in place, the name of the shell is just a shell.

With the change of the holding policy, it is not surprising that he has been making other travel businesses.