Xinhua One Yuan To Sell "Sea Fair" In The First Half Of Fujian Closed 23 Stores

Xinhua Limited by Share Ltd shopping plaza Limited by Share Ltd issued "notice on the transfer of equity transfer of holding subsidiaries" announcement: equity transfer agreement with Fuzhou New Territories Catering Management Co., Ltd., Xinhua will hold 51% of the shares of Xinhua capital marine Investment Co., Ltd. will be transferred to New Territories catering, Xinhua will no longer directly hold any equity interest of the target company (that is, sea Fair), and the target company will no longer be incorporated into the Xinhua consolidated statement.

The "Hai Wu Hui" is a new format launched by Xinhua in 2017. The new retail formats such as the super species, the box and the fresh horses have been active for a while in the new retail channel of Fujian. However, according to the data released by Xinhua, the marine products will achieve a business income of 40 million 742 thousand and 500 yuan in 2018 and a loss of 15 million 826 thousand and 300 yuan; in 2019 1-5, the operating income will be 17 million 892 thousand and 400 yuan, with a deficit of 4 million 53 thousand and 900 yuan. As of May 31, 2019, the net assets of the audit were -1170.82 million yuan.

Now that the sea is going to change by one yuan, after the completion of the transaction, Xinhua is expected to lose 5 million 770 thousand yuan and exempt 11 million 738 thousand and 800 yuan from debt. In this way, can Xinhua not go to new retail outlets to escape from the "hot water" life?

However, on the 12 th of this month, Xinhua revised the semi annual performance forecast, which showed that the net loss attributable to shareholders of listed companies expanded to 110 million -1.3 billion in the first half of this year. Xinhua first closed 28 stores in the first half of this year, resulting in a total loss of 124 million. Among them, there are 23 stores in Fujian, including 5 shops in Quanzhou, 5 in Putian, 4 in Fuzhou, 2 in Ningde, Zhangzhou, Sanming and Nanping, and 1 in Longyan.

Xinhua said that the reason for the performance correction was affected by the progress of store adjustment. Specifically, there are risks arising from the adjustment process of the stores, such as compensation for owners and tenants, compensation for employees, loss of assets and even potential litigation risks, which have different effects on the company's operating performance.

From 2014 to 2018, Xinhua's 5 year net profit after deduction was negative. Obviously, Xinhua is already "heavily indebted" in trying to develop new formats.

However, it is amazing that Xinhua has always been like a rampage young man on the way to explore the future development of the company. In the past few years of new retail sales, Xinhua has set up a benchmark for the "sea thing meeting". Although it is now failing, it seems that Xinhua has been enjoying it all the time. Not to mention that Xinhua has transferred the 40.5% stake in the new box company to Ali, which has messed up the life of Fujian's box horse. In May this year, Xinhua also made a new form of "neighbouring vegetable market". In terms of its performance in the month, it seemed that it was developing well, but it still needed time to advance.

In the traditional retail business, Xinhua is even more ruthless. When it comes to breaking the rules, it keeps breaking the shop and shops. It is to be observed whether Xinhua will seize the retail development of the retail sector or continue to incorporate new retail formats.