The Lethality Of Shen Bingyun'S Position Clearing And Reducing Its Holdings In Langzi Shares Is Too Great

In the past ten days, Longzi, a leading company in the medical and American industry, has been trying to make a reasonable explanation for the actual controller's father's position reduction, but it has been unable to stop the continuous downward trend of the stock price.

As of yesterday's close, The company's share price has dropped nearly 40% from the beginning of the month, and the market value has evaporated by more than 12.5 billion yuan.

　　 Eleven consecutive falls

Shen Bingyun, 79, is the father of Shen Dongri, the actual controller of the company.

Even the real controller's father is ready to go high-level cash out, the hearts of ordinary investors will inevitably panic. Although, in the announcement of the reduction, the elderly explained that they were already in their senior years and that the reduction was necessary for their living arrangements and asset planning. At the end of the day, I still don't forget to pacify everyone: we are optimistic about the long-term development of the company, especially the prospect of the medical and aesthetic industry.

Under the bright sickle, any appeasement is not sincere enough.

On June 7 and 8, the two trading days after the announcement of the reduction of holdings, the shares of langzi all fell to the limit, and investors fled in panic, even bringing down a number of Yimei concept stocks.

Looking at the surging downward trend of the company's share price, Shen Bingyun urgently sent a "letter of commitment", saying that after the implementation of the reduction plan, it would support the implementation of the medical and American strategy of langzi with no less than 500 million yuan in an appropriate way.

The tragedy of the limit is over, but the downward momentum is still unable to contain. In the next five trading days, the stock price of langzi shares continued to float green.

On June 1, Longzi shares (002612. SZ) once climbed to the historical high of 71.60 yuan, which was affected by Shen Bingyun's position reduction, The company's share price has fallen for 11 consecutive trading days. In a short half month, the market value evaporated by more than 12.5 billion yuan, and the total market value fell below 20 billion yuan.

At the research meeting held on June 9, the organization also focused on the issue of Shen Bingyun's share reduction. Shen Dongri, chairman of the company, explained that his father was nearly 80 years old and had been in poor health in recent years. After comprehensive consideration, he made the decision to reduce his shareholding in the company.

The exchange immediately issued a letter of concern asking the company to explain Why is the purpose of shareholder reduction funds inconsistent? Is the "letter of commitment" issued when the stock price falls sharply is to maintain the stock price and cooperate with the reduction?

In the reply to the letter of concern, the company further clarified that Shen Bingyun would support the strategic development of the company by participating in the establishment of medical beauty industry fund or providing loans within two years after the expiration of the reduction period. If Shen Bingyun's financial support to the company is less than 500 million yuan, the actual controller Shen Dongri promises to make up the difference. If shendongri fails to fulfill its promise within the specified time, it will suspend receiving the company's cash dividends.

The reply to the letter of concern is not meticulous, and the performance of the commitment is not strict.

However, yesterday, langzi shares still fell 5.16% to 43.17 yuan / share.

　　 Foam extrusion

Since the beginning of this year, Yimei is undoubtedly one of the hottest plates in A-share market. As long as the listed companies stick to this concept, their share prices will inevitably rise sharply.

Langzi Co., Ltd., whose main business was women's wear, landed on the main board of Shenzhen Stock Exchange in 2011. After listing, the company's performance continued to decline.

In 2016, the company acquired Milan Boyu, Jingfu medical beauty and other institutions, cut into the medical beauty industry from the clothing industry, and put forward the strategy of "Pan fashion industry interconnection ecosystem".

With the addition of new business, the company's performance rose by 120.28% in 2016. However, in the following two years, the growth rate of the company's performance slowed down significantly. In 2019, affected by factors such as asset impairment, the company's performance dropped by 72.07%.

In 2020, with a slight drop in revenue, the company's performance will rise again. This is mainly due to the acquisition of the minority shareholders' equity of the company's medico operating platform, langzi medical, and some medical and American institutions.

After five years of development, the number of medical and American institutions under langzi has increased from 6 to 20 in the first quarter of this year.

In the impression of the outside world, the Chinese medicine and beauty industry is generally making huge profits. In 2020, the overall gross profit rate of the medical beauty business of langzi is 54.34%, and the net profit rate of its mature comprehensive medical and aesthetic institutions is more than 15%.

Langzi Co., Ltd. is located in the middle reaches of medical and aesthetic industry, and serves customers by setting up medical and aesthetic institutions. Limited by the scale and reception capacity of a single medical and aesthetic institution, it is necessary to constantly expand new institutions in order to achieve sustained growth in performance. At this stage, in order to support the development of new institutions and business scale, the cost of medical and American plate in advertising and marketing expenses is relatively high.

At present, the scale effect of Longzi medical and American plate is not obvious, and the main revenue of the company is still clothing business. In the first quarter of this year, the company realized an operating revenue of 892 million yuan, including 633 million yuan for women's wear and children's wear, accounting for 77.20% of the company's total revenue.

In recent years, The fundamentals of langzi shares did not change significantly, but the share price suddenly rose in 2020 In December of that year, it pulled out six limit boards in a row. Since this year, under the crazy speculation of funds, the stock price has risen again.

At present, the price earnings ratio of leading enterprises of medical and American concept is often 100 times, just like a bubble flying in the air. It is time to squeeze.