What happened to this "first stock"?, The former billionaire fell! Over 10 million shares to be auctioned off

Release time:Apr 16, 2024 18:29 PM

On September 7th, the reporter learned from Alibaba Auction that 10.05 million shares of Guirenniao Co., Ltd. will be publicly auctioned on the Taobao Judicial Auction Platform of Quanzhou Intermediate People's Court in Fujian Province from 10:00 on September 15th to 10:00 on September 16th, 2023. The current starting price is 19.7985 million yuan, and the specific starting price is based on the average closing price of the 20 trading days before the auction date multiplied by the total number of shares auctioned.

picture

Starting price of 19.7985 million yuan

According to the Alibaba auction platform, the subject matter of this auction is 10.05 million shares of ST Guiren's shares held by Guirenniao Group Co., Ltd. The subject matter has been frozen by the judiciary and has been pledged.

According to the latest semi annual report of ST Guiren, Guirenniao Group Co., Ltd. is the second largest shareholder of ST Guiren, holding 227 million shares at the end of the reporting period. The shareholding ratio is 14.41%, and the shares have been frozen by the judiciary and are pledged. According to the 2022 annual report of ST Guiren, Guirenniao Group Co., Ltd. was originally a controlling shareholder of ST Guiren, and the person in charge or legal representative of the former was Lin Tianfu, the founder of Guirenniao.

It is reported that the current publicly disclosed price is based on the closing price of the stock on the working day before the online auction, which is August 14, 2023, multiplied by the total number of auctioned shares, which is 10.05 million. It is reported that the price is only for display and is not the actual starting price of this auction.

The subject matter of this auction is the unrestricted circulating stocks of listed companies, and the value of the subject matter is greatly affected by market conditions and other factors. Bidders are required to verify whether they comply with relevant provisions of the Company Law and Securities Law, and bear relevant legal consequences. This auction may lead to changes in the actual controller and major shareholders of ST Guiren. Bidders should comply with the relevant regulations on reducing their holdings of listed company stocks and fulfill their information disclosure obligations as required after the bidding is completed.

What happened to this "first stock"?, The former billionaire fell! Over 10 million shares to be auctioned off

Big facelift in performance forecast

Receive warning letter

"Guirenniao" was once a well-known sports shoe and clothing brand. According to the company's website information, from 2011 to 2021, the company was listed as one of the "Top 10 Sports Shoe Enterprises in China", "Top 100 Enterprises in China's Light Industry", and "Top 500 Most Valuable Brands in China". In 2014, Guirenniao went public and became the first A-share sports brand. The founder of the company, Lin Tianfu, once ranked on Forbes China Rich List with a wealth of over 10 billion yuan. However, in recent years, the company's performance has declined and it has now been ST rated, with the latest market value of approximately 2.75 billion yuan.

On August 3, 2023, ST Guiren announced that they had received a decision on administrative regulatory measures, and the Fujian Securities Regulatory Bureau issued a warning letter to the company, the then chairman of the company, Li Zhihua, the general manager, Lin Siping, and the CFO, Zhou Wenfeng.

After investigation, ST Guiren disclosed the 2022 annual performance forecast on January 19, 2023, and three months later issued a correction announcement for the performance forecast. The corrected net profit changed from profit to loss, and the difference between the net profit attributable to the parent company after deduction and the forecasted amount exceeded 50%.

At that time, the announcement showed that the company expected to achieve a net profit of 74.7692 million yuan in 2022, with a net profit of 158.443 million yuan after deduction. On April 27th, ST Guiren disclosed a performance forecast correction announcement, predicting a loss of 9.4137 million yuan in 2022; The net profit after deducting non expenses was 69.3683 million yuan.

The performance forecast information disclosed by ST Guiren on January 19th was inaccurate and violated the Management Measures for Information Disclosure of Listed Companies. The Fujian Regulatory Bureau has decided to take administrative regulatory measures against ST Guiren, Li Zhihua, Lin Siping, and Zhou Wenfeng by issuing warning letters.

Regarding the correction of the performance forecast, ST stated that there were significant deductible losses during the reporting period of the company. Due to the accountant's reserved opinion on some of the company's grain trade business for the year 2022, it is uncertain whether the company can obtain sufficient taxable income to offset deductible losses in the future. Therefore, deferred income tax assets arising from temporary differences that can be offset are not recognized for the time being.

According to the 2023 semi annual report of ST Guiren, in the first half of the year, ST Guiren achieved a revenue of 715 million yuan without increasing profits, a year-on-year increase of 9.73%; The net profit loss increased year-on-year, with a loss of 18.145 million yuan, compared to a loss of 17.375 million yuan in the same period last year.

picture

In the first half of the year, the company's main business included three major sectors: sports shoes and clothing, investment promotion and agency operations, and grain business. Among them, the revenue of sports shoes and clothing business decreased by 19.51%.

picture

ST Guiren stated that there is insufficient effective domestic demand for the sports footwear and clothing business of the "Guirenniao" brand, and the sports footwear and clothing industry may enter a turning point. In addition, the rise of niche sports brands has brought great development pressure to small and medium-sized sports footwear and clothing brands represented by "Guirenniao".

In terms of investment promotion and agency operations, in the first half of 2023, the revenue scale of the company's wholly-owned subsidiary's agency operations remained stable, but due to rising costs, the gross profit margin of this part of the business decreased to a certain extent.

In terms of grain business, in the first half of 2023, the company's grain trade business was mainly focused on digesting inventory, while the rice processing and sales business was mainly focused on smooth handover and transition.

Multiple "85 generation" cadres have been promoted to department level, and another "85 generation" cadre has taken over! Recently, member of the Standing Committee | Yu Zhou | assumed new positions

In recent years, more and more young cadres born in the 1980s and 1990s have appeared in important positions in local party and government departments. Recently, another cadre born in 1985 was appointed as a new employee. Yu Zhou, a "post-85" cadre who was introduced by Nanping, Fujian Province, as a doctor of Peking University eight years ago, has gone to Mount Wuyi to take office. According to the news of "Mount Wuyi News" on the WeChat official account, on June 1, a meeting of Mount Wuyi City's leading cadres was held, announcing that the Fujian Provincial Party Committee and Nanping Municipal Party Committee had decided that Yang Qingjian would serve as a member of the Standing Committee of Nanping Municipal Party Committee and continue to serve concurrently as the Secretary of Mount Wuyi Municipal Party Committee; Yu Zhou is a member, standing member and deputy secretary of Mount Wuyi Municipal Party Committee. The official website of Mount Wuyi Municipal Government has been updated recently, and Yu Zhou's resume appears in the column of "Municipal Government Leaders". According to public information, Yu Zhou, male, Han ethnicity, born in May 1987 in Luoshan, Henan Province, is a member of the Communist Party of China and a graduate student

How to prioritize power?, A Question to the End | Manned Lunar Landing for Space Development | China | Lunar Landing

The moon is a close neighbor of our blue planet and a transit station for humanity to move further into deep space. At present, China is carrying out the fourth phase of lunar exploration project. Not long ago, China also had a schedule for manned lunar landing. The new generation of manned rockets in China is expected to make its first flight in 2027, and it will also achieve the first Chinese landing on the moon before 2030. Aerospace development prioritizes power. Recently, the main engine of China's manned lunar landing rocket, the 130 ton pump rear swing liquid oxygen kerosene engine, developed by the Sixth Academy of Aerospace Science and Technology Group, completed its sixth test on the test bench. The cumulative test time of the engine reached 3300 seconds, and the working time exceeded 10 times the task time. This verified the reliability of the engine's operation and once again set a new record for single test of China's 100 ton engine. How difficult is the development of rocket high thrust engines? by

44 year old well-known actress claims to have used reading glasses! 39 year old civil aviation captain's phone font is adjusted to be oversized! Can presbyopia be treated? Phenomena | ciliary muscle | mobile phone

Recently, 44 year old actor Chen Qiao'en claimed on his Sina Weibo account that he had already used reading glasses: "I just saw my reading glasses trending on social media... Show off my first reading glasses in life.". In the general impression, only elderly people will have a relationship with "presbyopia". But according to Dr. Wang Bin, Chief Physician of the Ophthalmology Department at Tongde Hospital in Zhejiang Province, after the age of 40, it is like a watershed, and many people gradually enter the ranks of "presbyopia". He recently admitted a 39 year old civil aviation captain, who is such a case. The captain's surname is Zheng. He is not only tall and handsome, but also has rich experience in executing flight missions after nearly 20 years of work. But recently, he has had to take a leave to come to the ophthalmology department of Tongde Hospital in Zhejiang Province for treatment. As soon as Mr. Zheng entered the consultation room

Continuously Improving the Population Service System to Promote High Quality Population Development Hospitals | Project | Population

CCTV News Client News: In recent years, China has made overall progress in the construction of a population service system that covers the entire life cycle, with a focus on "one elderly and one small". This has made the lives of the general public more convenient, gradually improving the quality of life, and promoting high-quality population development. Recently, the National Development and Reform Commission issued a central budget investment of 26.55 billion yuan to support the construction of 241 national and provincial-level regional medical centers and other projects, allowing more patients to enjoy fair, accessible, and systematic high-quality medical and health services nearby. At the National Regional Medical Center and Beijing Children's Hospital Baoding Hospital, a reporter saw that 12-year-old Lele was undergoing follow-up evaluation after stem cell transplantation. Recalling his previous visit to Beijing for medical treatment, his father was very emotional. At present, the number of national regional medical center project hospitals has reached 76, with a large number of

Actions speak louder than words, and status depends on actions. In response to the remarks of the US Defense Council, China stated that leadership is not hegemonic

Jing Jianfeng stated that 32 years have passed since the Cold War, and the United States has not only failed to eliminate remnants of the Cold War such as the "Five Eyes Alliance" and bilateral military alliances, but has also concocted a "quadrilateral mechanism" and trilateral security partners, dividing camps and provoking confrontation based on ideology. The United States disregards regional stability for its own selfish interests

Important news

The "the Belt and Road" has added Latin American friends, and the first historic meeting between China and Hong Kong has been achieved | two countries | one belt New Ideas Lead a New Journey: Guarding the Long Historical Roots and Inheriting the Splendid History of Chinese Civilization | Cultural Relics | Chinese Civilization When investigating the situation of border control and the construction of border defense forces in Inner Mongolia, Xi Jinping stressed the importance of strengthening the overall construction of the troops, improving the ability of border defense control, and striving to forge the Great Wall of steel border defense forces | Central Military Commission | control People from many countries spoke highly of General Secretary Xi Jinping's important speech at the forum on cultural inheritance and development | World | General Secretary People's Daily Review: Taking Dreams as Boats to Run towards the Stars and the Sea Astronauts | China | Dreams as Boats to Run towards Guangdong Province's High Quality Promotion of Manufacturing Strong Province Construction Enterprises | Industrial Chain | Guangdong

Political situation

Chen Jining and Gong Zheng jointly inspected and discussed, jointly serving the overall development of the country! Yin Li and Yin Yong led a Beijing delegation to Shanghai to inspect the delegation's development and overall situation Continue to rooted in Shanghai, deeply cultivate China, and serve the world! Why do these 23 business representatives say that? Confidence. At the meeting | entrepreneurs | enterprises How to promote the second half of the old film reform? Shanghai People's Congress Launches Special Supervision Project for "Two Olds and One Village" Renovation | Urban Villages | Shanghai People's Congress The minimum living allowance will increase by 90 yuan per person per month. Starting from July 1st, Shanghai will adjust the relevant social assistance standards How do humans and animals coexist harmoniously? This law in Shanghai provides them with protective umbrellas, and urban areas where raccoons live next to them are prohibited | Wildlife | Shanghai To promote the high-quality development of cross-border e-commerce, the standing meeting of Shanghai Municipal Government will study and support the development of e-commerce | industry | Internet services on the productive Internet service platform

Economics

How beautiful is the 800 kilometer Dabie Mountain Scenic Road? Tourists captured the red tourism with their cameras | Picture Exhibition | Dabie Mountain Shanghai Open Double decker Sightseeing Bus Exits in September? Don't rush to clock in! More double decker sightseeing buses are still operating normally for sightseeing | Bus | Shanghai Shanghai has handed over its reference answers, and the Shanghai Book City, which has been separated for two years, is even greener! Shanghai Book City | Architecture | The Big Challenge of Carbon Reduction in Public Buildings The summoning order for the "Intangible Cultural Heritage Food Recommendation Officer" has arrived! Taste Shanghai's Old Flavors with "Funny Wang Xiaomao" | Event | Food Occupying 21.9% of the city's total output value, Shanghai's GDP was nearly trillions of yuan last year. This industry is rapidly developing in Shanghai, and the ocean industry is also part of the entire city Follow his footsteps to stroll around, Shanghai has attracted Xu Xiake to visit Xiake | Sheshan | place five times

Regional situation

The overall renovation has been completed, but the exterior walls of this community in Shanghai have repeatedly fallen but cannot be repaired... Party building leads to the realization of multi-party funding for governance | community | community In the next three years, it is expected to attract a sub fund group of 100 billion yuan, adding another one! Pudong's Three Major Industries Guidance Master Fund Haitong | Leading Area | Industries Lujiazui Century Avenue Business District Jiuliu Square "Drama on the Weeks", Pudong Nightlife Festival Cultural Activity Enriching Square | Theater | Century Avenue Putuo District continues to promote safety linkage supervision, creating a "textbook" style exercise sample. Putuo District | Emergency | Safety Putuo releases the city's first community public space service standard, do not ignore the "Hello, Goodbye" center | area | city wide This Shanghai uncle's work has been collected by multiple national level exhibition halls, and he has been dedicated to making ship models for over half a century | Ship Models | Shanghai

Viewpoint

Can you afford the ticket price?, Concert audio equipment that cannot be heard | Market | Ticket prices What kind of enlightenment does it give people?,Why are domestic economics graduates so popular?, Some people earn a monthly salary of 20000 yuan, and there is a school supply and demand ratio of 1:28.8. High quality development | College student employment | Home economics What should cadres at all levels read from it?, This "troublesome matter" of Shanghai citizens has solved the problems of department | grassroots cadres | Shanghai conduct investigation and research like comrade chen yun | xi jinping | chen yun Strive to compose a new chapter in the high-quality development of Shanghai's private economy, revisit the history of the Party. Private entrepreneurs | national bourgeoisie | private economy

Vision

Vertical shaft construction technology: promoting the comprehensive promotion team of the Taihe Sewage Treatment Plant expansion project pipeline project | Project | Sewage Treatment Plant She brings interesting life to the world through illustrations and loves the taste of Shanghai osmanthus. Century Theater | Shen Chang | Osmanthus G15 Shenhai Expressway Jialiu Section New Liuhe Bridge Expansion and Reconstruction Project Started Construction | Liuhe | Shenhai Shanghai Director Luo Dong: I am the same Shanghai as "Mei's Day and Night" | Director | Night At present, the "Double Yellow" warning in Shencheng is high!, The First rainstorm in Meiyu | Shanghai | Warning [Looking at the World] Apple cider poisoning incidents have occurred in multiple parts of Russia, resulting in 18 deaths. Apple cider | Republic | Poisoning incident