The performance of the French lion dragon continues to gradually and enthusiastically purchase bank wealth management but needs to raise funds to supplement blood
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French lion dragon’s performance continues to decline, and it is keen to buy bank wealth management, but it needs to raise funds to “blood” Source: IPO Daily original Deng Haotian Recently, French lion dragon home building materials Co., Ltd. (hereinafter “Lion Lion”) pre-updated and disclosed the prospectus, Intends to be listed on the main board, and the public offering does not exceed 3229.
280,000 shares, accounting for no less than 25% of the total share capital after issuance.
The IPO Daily found that the performance of the French lion dragon was declining, and that more than 40% of its net assets in 2018 were used to purchase bank wealth management products.
Degraded performance It is understood that the development, production and sales of integrated ceilings, integrated walls and other products of the French lion dragon army are mainly used for building interior decoration and decoration.
From the perspective of sales model, France Lion Dragon mainly has distribution and other sales models.
From 2016 to 2018 and from January to June 2019 (hereinafter referred to as the “reporting period”), the sales revenue generated by Fashilong through distribution was 34,361.
90,000 yuan, 53452.
350,000 yuan, 50546.
140,000 yuan,厦门夜网 18,556.
680,000 yuan, respectively accounting for 98 of the current main business income.
This means that at least 90% of the annual income of the French lion dragon is earned through the distribution model.
Slightly, the prospectus shows that as of the end of 2016, the end of 2017, the end of 2018, and the end of June 2019, the number of dealers of Fa Shilong was 846, 933, 1040, 1061, and the annual number of dealersAre improving.
In this regard, Shilong said that if the dealer team is further expanded in the future and the company management level cannot be improved accordingly, or the market changes and the company management system cannot adapt to it, it may adversely affect the company’s performance and may damage the company’s performance.And company brand image.
It should be pointed out that the sales revenue generated by the French lion dragon in distribution in 2018 was 5 lower than the same period last year.
Perhaps due to the “unpowered” distribution in 2018, the performance of the French lion dragon in 2018 has also been replaced.
The prospectus shows that from 2016 to 2018, the French lion dragon achieved operating income of 34,957.
220,000 yuan, 55,155.
580,000 yuan, 51725.
670,000 yuan, net profit was 4673.
290,000 yuan, 9648.
170,000 yuan, 8203.
Not seriously out, in 2018, both the revenue and the net profit of the French lion dragon decreased compared with the previous year, and the net profit fell by 14.
By the first half of 2019, the performance of the French lion dragon seems to continue to decline.
The prospectus shows that from January to June 2019, the operating income of the French lion dragon was 19,569.
560,000 yuan, net profit is 2053.
Although the French lion dragon did not disclose its performance in the first half of 2018 in the prospectus, the IPO daily report found through public data compilation that the French lion dragon’s operating income in the first half of 2018 was 20066.
99 million yuan, higher than the first half of 2019.
On average, the gross profit margin of French lion dragon in 2018 and January to June 2019 were 35.
On average, in the first half of 2019, French Lion Dragon achieved less revenue than the same period last year, and the gross profit margin is likely to be lower than the same period last year, the company achieved 2053.
The net profit of 460,000 is also likely to be lower than the same period last year.
The prospectus for keen to buy wealth management products shows that as of the end of June 2019, the balance of monetary funds of French lion dragon was 19410.
650,000 yuan, an increase of 64 from the previous year.
This time, French Lion said that the above increase was mainly due to the redemption of bank wealth management products at maturity.
Due to sufficient monetary funds, the French lion dragon spends a large amount of funds every year to purchase bank wealth management products.
According to the prospectus, as of the end of 2016, the end of 2017, the end of 2018, and the end of June 2019, the amount of wealth management products of Fa Lion Dragon Bank was 37 million yuan, 84 million yuan, 13654.
80,000 yuan, 3602.
It should be noted that as of the end of 2018, the net assets of the French lion dragon were 33,799.
In other words, in 2018, Lion Lion used more than 40% of its net assets to buy bank wealth management products.
In addition, the IPO Daily also found that the fundraising project of the French lion dragon seemed to have “blemishes”.
The prospectus shows that the French lion wants to raise 47981.
Among them, 14999.
590,000 yuan for the construction of the French lion integrated ceiling base module, 9587.
790,000 French lion dragon integrated ceiling function module construction projects, 139.5 million marketing network construction projects, 3870.
680,000 yuan was used for R & D, design and exhibition center construction projects, and 50 million yuan was used to supplement working capital.
Not sharp out, the expansion of French lion’s own currency funds to complete any of the above fundraising projects.
So, when the French lion has a large amount of money to buy bank wealth management products every year, why should it raise 50 million yuan to supplement the working capital?