YOUNGOR Dual Engine Failure Diversification Strategy Hidden Risks

Recently,

The three degree brand is the first to create a stake.

In the eyes of the industry,

YOUNGOR's involvement in real estate and equity investment is deviating from its main business.

The investment in real estate is not good enough, and financial investment has been falling off frequently. YOUNGOR's dual engine strategy has gone through some difficulties recently.

For the industry's evaluation, Liu Xinyu, deputy director of YOUNGOR, said no response.

"The two pieces of real estate and finance have been clearly stated in our annual reports and semi annual reports.

It is always the core and most basic industry. "

YOUNGOR double engine failure

After tasting the sweetness of CITIC Securities, YOUNGOR became "addicted" to the private placement of listed companies.

Since then, YOUNGOR has spent 3 billion 588 million yuan to subscribe to 100 million shares of Haitong Securities.

As a result, the stock price has been chopped up when the stock is banned.

According to an industry insider, "it seems that YOUNGOR's investment in private placement is coming to an end."

Recently, YOUNGOR's equity investment has become more and more unmanageable. In the three year of the year, it has been the first time to raise the number of shares, and its shareholding ratio has reached 15.22%, which is only 1 million 58 thousand and 100 shares with the controlling shareholder's shareholding.

It has been reported that YOUNGOR investment has been "getting mad".

For this comment, Liu Xinyu said, YOUNGOR will be

As an exploration industry, the early investment in CITIC Securities and Bank of Ningbo has gained a good return.

"Investment brings the market value of about 10000000000 financial assets to the company, so it is impossible to invest in clothing and real estate at once."

Liu Xinyu also said that, as mentioned in the semi annual report, as the impact of financial investment on the performance of listed companies is relatively large, the overall idea of YOUNGOR's financial investment is to "adjust the structure and control the scale".

According to semi annual reports,

Sector revenue fell 62.30% from a year ago.

The company said that the financial loss and management cost decreased by 15.62% compared to the same period last year, resulting in a loss of 1 million 722 thousand and 900 yuan in the whole sector.

As the real estate business of YOUNGOR's other carriage, as the market entered a long regulatory stage, it began to plummet in 2011.

In 2011, the sales volume of commercial housing in four main urban areas of Ningbo, Suzhou, Hangzhou and Shanghai decreased by 15%, 23%, 53% and 24%, respectively. In 2011, the net profit of real estate tourism development decreased by 15.86% compared with the same period last year.

At present, the two engines of YOUNGOR's real estate and stock market investment are seriously lacking in motivation.

Xue Shengwen, a senior researcher at CIC, pointed out that YOUNGOR got a high rate of return in the early stage of equity investment, but later it lost a lot of money, and is still in the hang up stage.

Diversification strategy lurks risks

For YOUNGOR, there are two risks in the real estate and equity market dual engines.

"At present, the state's policies for regulating and controlling real estate are stricter, and further regulation will not be ruled out."

Xue Shengwen also pointed out that because YOUNGOR started up with clothing, its technology level for real estate and equity investment is relatively weak.

"The real estate and equity markets are full of scenery, but in fact they are very dangerous.

The road chosen by YOUNGOR is not conducive to the long-term development of the company.

Li Hongxian, an analyst at Champ consulting, said: "YOUNGOR has not stuck to the brand that has grown bigger and stronger, but chose diversification, but failed to achieve the coordinated development between businesses."

From a garment company to a diversified investment company, the company's performance and profits have been greatly affected.

For the practice of YOUNGOR, there are also insiders who believe that it can not be completely interpreted as deviating from the main business, but YOUNGOR is "doing something and going out of shape".

"After the completion of capital accumulation in the early stage, it is understandable to use financial means to seek greater interests."

People in the industry are evaluating YOUNGOR's financial business.

It is not only YOUNGOR, but also large companies that are similar to "diversified" development.

Companies such as Wanxiang and Lenovo have stepped into the PE field. Seven wolves and Haier are involved in the real estate business. These diversified strategies have indeed brighten the financial statements of enterprises.

"The real estate and equity investments of real enterprises are valued by the profitability of the capital market."

Xue Shengwen said that diversification strategy such as real estate and stock market investment may get a considerable return in the short term, but in the long run, the risk of diversification strategy similar to real estate and stock market investment is large and the profitability is not strong enough.

"Diversification strategy based on real estate and stock market investment is like" drinking poison to quench thirst ", and can not make the company break through the bottleneck of development.

According to industry experts, the investment in industrial background must truly shake off the logic and complex of maternal industry. After all, there are two essential differences.

"Diversification mode itself has no right or wrong points, the key is operation."

State securities Zhang Bin told reporters that at present, the market gap is becoming less and less.

"We need to pay attention to the financial situation, the debt leverage can not be too high, enterprises should ensure cash flow rather than excessive pursuit of profits."

Diversified development needs to be combined with opportunities.