Under the concept of online celebrity, hot money frequently appears. Who is harvesting behind the ＂sky floor＂ on Saturday？
Zhongxin Jingwei Client March 7th (Gao Xiaoying) On March 6th (Friday), the "five-day connection" failed on Saturday, the last trading day of this week. In the case of early trading limit, the board suddenly exploded at the end of the session, and the stock price went straight to the limit, with an amplitude as high as 20%, which staged a "sky floor". In this regard, online investors have mixed feelings, such as "900,000 yuan in the whole warehouse, and it can only be cut next week", "losing hundreds of thousands at a time" and "losing all the money for marrying a wife", and "falling into a half warehouse" and "seeking wealth and risk". On Saturday, the "online celebrity concept stock" selling shoes made its 20,000 shareholders have a hard time this Saturday.
Double the share price by taking the "online celebrity concept"
As a traditional shoe enterprise, after a period of low performance on Saturday, it turned to the concept of online celebrity. In 2018, it acquired Yuanwang Network, which was established in November 2010. It is mainly engaged in Internet advertising and agency, and is an Internet content production organization (MCN) that operates online celebrity live broadcast, ranking relatively high in the industry.
It is worth noting that, according to the survey data, the major shareholder of Saturday is Shenzhen Saturday Investment Holding Co., Ltd., which is a shareholder of Guangzhou Zhuoshi Growth Equity Investment Enterprise (Limited Partnership), which is also a shareholder of Hangzhou Weinian Technology Co., Ltd., which is the operating company behind online celebrity Liziqi.
Recent stock price trend on Saturday Source: wind
After boarding the "online celebrity Concept Stock", since December 13th, 2019, the stock price has continuously pulled out more than ten daily limit boards on Saturday, and the stock price has risen from the previous 7.2 yuan/share to the highest of 26.20 yuan/share, with a 3.6-fold increase.
Although it was clarified on the interactive platform of the Shenzhen Stock Exchange on Saturday, December 26, 2019: "Li Zikai is not online celebrity signed by the company." On Saturday, January 10th, 2020, it was clarified on the interactive platform of Shenzhen Stock Exchange: "Li Jiaqi is not the company’s signing online celebrity." However, at this time, the stock price has increased by 250.28% and the transaction amount reached 18.6 billion yuan.
At the investor relations activity held on Saturday, March 1, 2020, Yaowang Network further stated that the company’s focus in 2020 is to cultivate the ability to cooperate with online celebrity, and in 2021, "the output is the ability of the supply chain."
Song Qinghui, a famous economist, said in an interview, "The concept of online celebrity is based on the so-called ‘ Online celebrity economy ’ It broke out and was popular in the capital market. Saturday is famous ‘ Demon shares ’ It is good at self-hype marketing, and its transformation of online celebrity concept stocks is to pursue a temporary capital market fever, and the stock price rise is not sustainable. "
Song Qinghui told the client of Sino-Singapore Jingwei that at present, the subject matter of market speculation is relatively scarce, and the "online celebrity concept stocks" have been hotly speculated, which is just a pure subject matter speculation. It does not mean that online celebrity’s economy has really ushered in an outbreak period, nor does it mean that the market really values these listed companies. The logic behind it is still to attract investors’ attention with the help of "online celebrity economic concept" for speculation. At present, the speculation of online celebrity concept stocks has come to an end, which is harmful to the secondary market and encourages the unhealthy trend of market speculation.
Executives frequently cash out after stripping shoes.
According to the insiders, Saturday’s shift from "heavy assets" in the footwear industry to "light assets" in online celebrity is due to the decline of the main business. Zhongxin Jingwei reporter checked the financial reports on Saturday and learned that since 2013, there has been a situation of increasing income without increasing profits on Saturday. Since 2015, revenue and net profit have started to decline across the board.
In this regard, on Saturday, the loss was attributed to the rise of emerging channels, the challenge of traditional department stores, the decline in passenger flow, channel fees and employee salary pressure. Since 2015, the company has decided to establish "her fashion ecosystem" as the strategic direction of transformation and upgrading, speed up the layout of fashion industry, and gradually develop "her fashion" categories such as clothing, luggage, fashion accessories, beauty and skin care, body health, culture and sports.
However, the strategic upgrade failed to save Saturday, and the performance in 2016 continued to show a downward trend. In the same year, the company re-determined the strategic development direction of "building a fashion IP ecosystem", began to lay out the fashion IP incubation and online celebrity economy, and changed its name from "Foshan Saturday Shoes Co., Ltd." to "Saturday Co., Ltd.".
The data shows that in 2017, there was a huge loss of 352 million yuan on Saturday. The company explained that it was an impairment provision for goodwill, inventory and accounts receivable at the end of the reporting period, resulting in a large asset impairment loss; In 2018, turning losses into profits, the proportion of Internet advertising business revenue increased from 9.20% in 2017 to 11.02%, while the proportion of footwear declined from 90.49% to 88.63%; In the first half of 2019, the proportion of Internet advertising business revenue rose to 35.87%.
It is worth mentioning that on Saturday, on December 20, 2019, it was announced that 100% equity of its wholly-owned subsidiary Foshan Saturday Technology R&D Co., Ltd. was transferred to Foshan Shiying Shoes Material Co., Ltd. at a consideration of 13.85 million yuan. After the transfer is completed, the company will no longer retain its production capacity.
"From last year’s divestiture of footwear production capacity on Saturday to the loss of offline sales due to the epidemic, the footwear industry may be divested more quickly this year, thus becoming a shell company with online celebrity concept." Cheng Weixiong, an independent analyst in the footwear industry, thinks. Song Qinghui also expressed a similar view. He pointed out that "from the divestiture of footwear production capacity to the increase in the proportion of Internet advertising business, there are indications that the main business may be divested and become a shell company in the next Saturday."
Source: company announcement.
It is noteworthy that while the share price rose sharply on Saturday after hitting the "online celebrity" hot spot, the management of the company was frequently reducing its holdings. On Saturday, December 24, 2019, the Pre-disclosure Announcement on the Reduction of Shares by Controlling Shareholders and Concerted Actions and the Pre-disclosure Announcement on the Proposed Reduction of Shares by Directors and Senior Managers of the Company were disclosed. The directors, deputy general managers and financial directors, directors, deputy general managers and secretaries of the company all reduced their shares by centralized bidding.
According to the completion of the company’s senior management reduction plan released on Saturday, January 18th, 2020, on January 16th and 17th, 2020, the total cash reduction of the above-mentioned senior management reached 255 million yuan.
There are institutions in the "Sky Floor" that have raised more than 80 million yuan.
The daily limit on March 6 seems to have no capital to "scare off" Bo Xian. Due to the deviation of the daily price drop of 7%, it was listed on the Dragon and Tiger List, and the turnover on that day reached 2.722 billion yuan. According to the data of the Dragon and Tiger List, the total purchase amount of the top five seats exceeded 250 million yuan, accounting for 9.53% of the total turnover of the day, of which 80,206,600 yuan was purchased for institutional seats, ranking first in the purchase.
March 6 Dragon and Tiger List Source: wind
In this regard, Song Qinghui said that the agency’s move is crazy "gambling", betting that its share price will be raised next Monday. On the same day, when five business departments sold more than 170 million yuan, more business department seats were doing two-way operations, while pushing up the stock price while taking profits. Among them, Shenwan Hongyuan Securities Co., Ltd. Shanghai Minhang District Dongchuan Road Securities Business Department bought 62,107,000 yuan and sold 891,800 yuan; Guotai Junan Securities Co., Ltd., which has been on the list for many times, bought 47.9502 million yuan and sold 41.2035 million yuan with a net amount of 6.7466 million yuan.
According to the statistics of Choice, in the past month, I have been on the Dragon and Tiger List for three times, and in the past three months, I have appeared on the Dragon and Tiger List for 32 times. The seats are basically occupied by various business departments, and the major hot money relays to boost the share price on Saturday. Among them, Guotai Junan Securities Co., Ltd. Shanghai Jiangsu Road Securities Business Department was listed 19 times, bought 10 times, sold 11 times, and sold 130 million net. Guoyuan Securities Co., Ltd. Shanghai Hongqiao Road Securities Business Department, China Merchants Securities Co., Ltd. Shanghai Mudanjiang Road Securities Business Department, Huatai Securities Co., Ltd. Nanjing Zhongyang Road Third Securities Business Department, Guosheng Securities Co., Ltd. Ningbo Sangtian Road Securities Business Department and other business departments are all on the list.
On the evening of March 6, the Shenzhen Stock Exchange issued an urgent announcement, saying that it would take self-regulatory measures for 82 abnormal securities trading behaviors, and continue to focus on monitoring on Saturdays with abnormal gains for several consecutive days and take timely regulatory measures. (Zhongxin Jingwei APP)