Bitter End Three Years, The End Of The Antarctic Electricity Supplier Behind The Boss To Reduce Cash Holdings 447 Million

In the evening of September 10th, the Antarctic electricity supplier (002127, SZ) announced that it received the notification letter of the implementation of the reduction plan completed by Zhang Yuxiang and his co operative Zhu Xue Lian and the Shanghai Fengnan Investment Center (hereinafter referred to as the "limited partnership"). As at September 10th, the company's actual controllers and their co operators reduced the company's shares by 61 million 520 thousand shares, accounting for 2.51% of the total share capital of the company.

Reporters found that through calculation, Antarctic electricity supplier real controller, chairman Zhang Yuxiang total holdings of 42 million 740 thousand and 300 shares, cash in about 447 million yuan, if coupled with concerted action Fengnan investment, total cash is about 645 million yuan.

In September 10th, the reporter telephoned the Antarctic electricity supplier to try to find out whether Zhang Yuxiang and his concerted action had any plans to continue to reduce their holdings.

　　 The stock lock is reduced periodically.

According to public information, Antarctica was formerly known as the "Antarctic", and the "Antarctic" is the underwear brand created by Zhang Yuxiang in 1998. In early 2016, Antarctica was listed on the Shenzhen stock exchange through the backdoor approach.

At the beginning of the listing, Zhang Yuxiang, Zhu Xuelian and Fengnan's investment commitments in the non-public offering of shares of listed companies will not be transferred until 36 months after January 20, 2016 and the performance compensation obligation is fulfilled.

By February 16th this year, the stock lock period had passed, and Zhang Yuxiang and others planned to reduce it.

Antarctic electricity supplier at that time announced that Zhang Yuxiang and its concerted action plan, within 6 months after the 15 trading day of the reduction of the share pre Disclosure Notice, will reduce the company's shares by no more than 65 million shares (the proportion of the total shares of the company does not exceed 2.65%) in the centralized auction trading mode, block trading mode or other legal means. At the same time, the announcement also shows that the implementation of the reduction plan will not lead to changes in the company's control rights, and will not have any impact on the company's continuing operation.

In addition to Zhang Yuxiang and his concerted efforts, in May 14th of this year, the Antarctic electricity supplier announced that it had received the letter of reduction plan issued by Wujiang Xinmin Industrial Investment Co., Ltd. (hereinafter referred to as Xinmin Industrial), and said that, in view of its own business needs, it is proposed to reduce the company's shares by no more than 24 million 500 thousand shares (3 of the total share capital of the company) in the 3 months after the 15 trading days of the share holding pre disclosure announcement.

As of September 4th, the total number of shares reduced by Xinmin industry was 5 million 164 thousand and 300 shares, accounting for 0.21% of the total share capital and 57 million 685 thousand and 300 yuan in cash.

　 How does brand authorization control quality?

Since 2008, the "Antarctic" has used the "brand authorization" mode to close its own factories, sign cooperative distributors, and authorize its sales of OEM products. The number of suppliers and distributors has increased significantly. 2019 semi annual report shows that during the reporting period, there were 894 Antarctic business cooperation suppliers, of whom 400 were mainly cooperative suppliers, 3634 were cooperative distributors, and 4640 authorized stores.

At the same time, Antarctic electricity providers use e-commerce channel traffic rules, and implement the "big store strategy", that is, big stores do "burst funds and explosive groups", the waist shops rely on the supply chain system to make distribution, and small shops do "grow grass". In the first half of 2019, the Antarctic electricity supplier in the electricity supplier channels GMV reached 10 billion 980 million yuan, an increase of 61.72% over the same period, of which the "Antarctic" brand GMV was 9 billion 540 million yuan, an increase of 67.64% over the same period last year.

In 2019, Antarctic electricity supplier semi annual report also showed that Antarctic electricity supplier revenue reached 1 billion 634 million yuan, an increase of 32.44% over the same period, net profit attributable to shareholders of the parent company was 386 million yuan, an increase of 32.37% over the same period last year.

However, behind the "lucrative" profits, the quality of "brand licensing" products has occurred frequently. In April 2018, issued by the State Administration of market supervision and administration, the list of the second batch of enterprises that failed to inspect the quality of skin and hair care appliances in 2018 and the list of enterprises that failed to inspect the products in the second batch of underwear (knitted underwear) in 2018 were listed in the list of unqualified enterprises under the state supervision and sampling inspection. In May 26th of this year, the Beijing consumers' Association announced that 16 crib samples from 20 samples of net selling cribs did not meet the standard requirements, including the products of the southern brand.

In this regard, in the semi annual report of 2019, Antarctica said it had established a strategic cooperative relationship with 9 third party quality inspection institutions, providing quality consultation, quality training, pumping inspection and other services to suppliers. At the same time, we should further improve the access and exit mechanism of the supply chain partners, formulate the negative list system, strictly screen the access of the supply chain partners, track and detect the partners who have already worked together, and train, transform or even clean up those who do not meet the standards.