Less than five months after the listing, the chairman of the board "walked!" Why this outdoor sports brand lost the date: 2016-05-30 13:06
The new three board seems to have fallen into a strange circle.
From 2013 to 2014, listed companies including Cable, Nocchi, Crocodile and Wright all had corporate dishonesty and lost bosses. Recently, after the chairman of SkyTeam had misappropriated funds and surrendered himself to the Public Security Bureau, he revealed that after the resignation letter from Wei Qinghua, Columbus chairman, Wei Qinhua lost contact.
On May 17th, Coulter, a new board company, issued a senior management change announcement: The board of directors of the company recently received the resignation report of Wei Qinghua through express delivery, resigned from the position of chairman and general manager due to physical reasons, and continued to serve as director of the company. . As the letter of resignation was received by express delivery, the board of directors is checking with Wei Qinghua himself.
According to the Columbus staff representatives, on May 13, they knew that the chairman had disappeared and the company had stopped production. The Shanghai headquarters was closed down and senior executives were forced to return to their offices in Fujian.
Surprisingly, since the beginning of 2016, the Chinese outdoor sports companies represented by Fujian outdoor sports companies have successively released good news. While the industry generally believes that the industry is recovering, Wei Qinghua has failed to resign after commencing with the express delivery. At this time, Columbus listed the new board for less than five months.
Columbus lost
Columbus, the company that listed the New Third Board in mid-January 2016, is called Fujian Columbus Outdoor Products Co., Ltd. and was established in March 2003. With outdoor brand Kolumb, the business products mainly include outdoor clothing, outdoor functional shoes and outdoor equipment.
After Wei Qinghua ran off the road, there was almost no shadow at the factory headquarters in Fuzhou. Several employee representatives in the factory security booth stated that the boss had disappeared and the company had stopped production.
On the outer wall of the factory security kiosk, a May Day holiday notice is posted: The production and related staff of the Dry Garment Company employees leave from April 28th to May 12th, and the date of issuing the normal work notice on May 13th is 2016. April 27th.
The reason why the holiday was advanced and the holiday was so long was that there were no accessories and no way to take orders. Staff said.
After a long holiday, the staff returned and found that even the boss was gone.
In fact, in Fuzhou, Columbus is a well-known outdoor brand enterprise. During the period from 2009 to 2012, Columbus began to deploy across the country, accelerating the opening of stores, and the number of stores has reached more than 600, reaching the peak of development;
After 2013, it began to decline. According to the recommendation report of the pre-launched brokerage firm, Columbus achieved operating revenue of 2.10212 million yuan, 148.6643 million yuan, and 68.7057 million yuan in 2013, 2014, and January-May of 2015, respectively, which decreased compared to 2013 in 2013. 29.42%; net profit of RMB 5,321,200, RMB 407,220,800 and RMB 4,590,600 respectively. It can be seen that there was a large loss in Columbus in 2014.
Previously, employees had various benefits every Spring Festival. By the end of the Spring Festival in 2014, welfare was owed, but in 2015, it was canceled. Before 2016, although there will be delayed payment from time to time, there is no delay for more than two weeks. This year, a salary was paid. There has been no further penny since the Spring Festival. Employees reflect.
Correspondingly, in front of the Gongzhenmen Gate, a decision on the correction of labor security supervision issued by the Bureau of Human Resources and Social Security of the Mawei District was posted. The above shows that: Columbia Columbus, Fujian Province, was owed compensation by more than 20 people. The investigation company defaulted on the salary from March 15 to May 2016.
A series of phenomena prove that the current Columbia step has become a shell. Compared to previous scenes in the industry, it was ultimately ironic and thought-provoking.
Going to market quickly
Those who know about the domestic outdoor product brand will compare Columbian and Pathfinder.
As the first listed company in the domestic outdoor products industry, Pathfinder had only about 100 stores before and after 2009. The number of Columbus stores has reached more than 200, and the two are known in parallel.
In 2009, Pathfinder made great strides after GEM's successful listing. Wei Qinghua realized the importance of listing and began to raise the listing issue.
In order to achieve a large scale and meet the conditions for listing, the company has rapidly increased from more than 200 stores to more than 600 stores in a short period of time. Unfortunately, in the final stage of the Columbus layout market sprint, IPO barriers were encountered: On November 3, 2012, after the release of Zhejiang Shibao, the China Securities Regulatory Commission launched a massive IPO self-inspection and verification campaign, and the IPO stopped. It did not restart until January 2014.
The opening of the IPO directly led to the collapse of the Golo Ventures. At this time, the Colombian step also ushered in two crises:
The first is that the investment is too large to be profitable, so that it has been suffering from financial crisis;
To open a store requires a $0 million investment, but the store's earnings are uneven, with more than tens of thousands or tens of thousands, or the profit and loss are flat. The recovery cost of traditional industries is not so fast.
Obviously, the rapid expansion of the physical store to stimulate the market, while ignoring its own operating capabilities. The original Goolbu’s more than 600 stores have been shut down. In the end, more than 200 stores have been maintained, of which dozens of direct stores remain.
The second is the IPO barrier, which means that in a market system with self-regulation, Goron has lost its financing function.
This is no doubt that Columbus, who lacks funds, is a big hit. Especially in 2014, on the one hand, the rapid decline in performance, on the other hand, is a huge financial need for rapid development. Under this circumstance, Wei Qinghua further increased the financing, which has been an absolute share of more than 90% of the company's shares, and began to gradually dilute. Conversely, in order to meet the funding needs, the stock was used as a chip to attract more investment.
It is understood that the number of Columbus shareholders once reached 28, of which Wei Qinghua holds 46.22%, and the other 4 institutions and companies hold 7.4%, which is the top five shareholders of Columbus.
Having lost the opportunity of listing on the GEM, Colombian can only choose to be listed on the New Third Board, but it will eventually be unable to return. After the listing of the New Third Board, Wei Qinghua's shareholding ratio further decreased, holding a total of 28.62 million shares in the company, which accounted for 42.72% of the company's share capital.
After the incident, these stocks were all pledged and used for personal use. The holder of the pledge was Shengshan Asset Management (Shanghai) Co., Ltd.
Before he lost, the company owed more than 70 million yuan in bank loans, and the supplier’s payment was more than 30 million yuan. Although the Columbus brand has certain value in the industry, the company’s capital is cut off from the chain, and the wages cannot be paid out. Institutional shareholders of the New Third Board are unwilling to make additional investments, which eventually led to today’s situation. One of the executives inside Colombian said.
In the end, Wei Qinghua resigned from the chairman and general manager in a paper express way and ended the new three board game which lasted less than five months.
Painful operating model
In addition to blindly opening the store for listing, the operation mode of Columbus is also painful.
Pathfinders have developed into an ecological circle since its inception. Although Columbus once intended to come from behind, he ended up with a single model.
In 2012, the e-commerce swept through, and the Pathfinder’s pace slowed down. Realizing that the slowdown of outdoor brand development is a phenomenon of the whole industry, Pathfinder began to try to transform.
Compared with the three club members' online club + online e-commerce platform + professional offline retailer model, the Pathfinder seems to be more advanced. Its new strategy involves online travel, e-commerce O2O, outdoor LBS, smart wear and other market hot spots.
In 2014, when the Internet thinking was still just a concept, Pathfinder used the Internet to transform a traditional enterprise from a manufacturer to an outdoor overall solution provider. In particular, after the acquisition of Greenfield, Pathfinder entered the vast outdoor online travel service market and took a successful first step towards its diversified development.
In contrast, in the Internet age, he still operates in a traditional retail model that relies solely on outdoor products. His price and user experience are widely criticized. Obviously, such a Colombian step is difficult to continue.
It can be judged that even if Wei Qinghua can raise enough funds to operate Columbus, I am afraid that in the end it will be impossible to escape the fate of defeat. This conclusion is not difficult to explain, the mode of operation is still confined to the traditional thinking, do not value the internal pain points, can not achieve the benefits of a single store, can not meet the normal operation of the company's needs, this way does not meet the market development law.
What is unknown is that, before this, there was actually another possibility for the survival of Columbia.
According to Columbus internal executives, Semir apparel once issued an offer for Wei Qinghua and the purchase price was as high as 300 million, but Wei Qinghua rejected the proposal at that time. On the one hand, because Wei Qinghua cherishes his feathers, he is not willing to let go of the company that he founded with his own hands. On the other hand, because the development of Columbian Walks is at its midst, there are countless possibilities in the future.
The new three board seems to have fallen into a strange circle.
From 2013 to 2014, listed companies including Cable, Nocchi, Crocodile and Wright all had corporate dishonesty and lost bosses. Recently, after the chairman of SkyTeam had misappropriated funds and surrendered himself to the Public Security Bureau, he revealed that after the resignation letter from Wei Qinghua, Columbus chairman, Wei Qinhua lost contact.
On May 17th, Coulter, a new board company, issued a senior management change announcement: The board of directors of the company recently received the resignation report of Wei Qinghua through express delivery, resigned from the position of chairman and general manager due to physical reasons, and continued to serve as director of the company. . As the letter of resignation was received by express delivery, the board of directors is checking with Wei Qinghua himself.
According to the Columbus staff representatives, on May 13, they knew that the chairman had disappeared and the company had stopped production. The Shanghai headquarters was closed down and senior executives were forced to return to their offices in Fujian.
Surprisingly, since the beginning of 2016, the Chinese outdoor sports companies represented by Fujian outdoor sports companies have successively released good news. While the industry generally believes that the industry is recovering, Wei Qinghua has failed to resign after commencing with the express delivery. At this time, Columbus listed the new board for less than five months.
Columbus lost
Columbus, the company that listed the New Third Board in mid-January 2016, is called Fujian Columbus Outdoor Products Co., Ltd. and was established in March 2003. With outdoor brand Kolumb, the business products mainly include outdoor clothing, outdoor functional shoes and outdoor equipment.
After Wei Qinghua ran off the road, there was almost no shadow at the factory headquarters in Fuzhou. Several employee representatives in the factory security booth stated that the boss had disappeared and the company had stopped production.
On the outer wall of the factory security kiosk, a May Day holiday notice is posted: The production and related staff of the Dry Garment Company employees leave from April 28th to May 12th, and the date of issuing the normal work notice on May 13th is 2016. April 27th.
The reason why the holiday was advanced and the holiday was so long was that there were no accessories and no way to take orders. Staff said.
After a long holiday, the staff returned and found that even the boss was gone.
In fact, in Fuzhou, Columbus is a well-known outdoor brand enterprise. During the period from 2009 to 2012, Columbus began to deploy across the country, accelerating the opening of stores, and the number of stores has reached more than 600, reaching the peak of development;
After 2013, it began to decline. According to the recommendation report of the pre-launched brokerage firm, Columbus achieved operating revenue of 2.10212 million yuan, 148.6643 million yuan, and 68.7057 million yuan in 2013, 2014, and January-May of 2015, respectively, which decreased compared to 2013 in 2013. 29.42%; net profit of RMB 5,321,200, RMB 407,220,800 and RMB 4,590,600 respectively. It can be seen that there was a large loss in Columbus in 2014.
Previously, employees had various benefits every Spring Festival. By the end of the Spring Festival in 2014, welfare was owed, but in 2015, it was canceled. Before 2016, although there will be delayed payment from time to time, there is no delay for more than two weeks. This year, a salary was paid. There has been no further penny since the Spring Festival. Employees reflect.
Correspondingly, in front of the Gongzhenmen Gate, a decision on the correction of labor security supervision issued by the Bureau of Human Resources and Social Security of the Mawei District was posted. The above shows that: Columbia Columbus, Fujian Province, was owed compensation by more than 20 people. The investigation company defaulted on the salary from March 15 to May 2016.
A series of phenomena prove that the current Columbia step has become a shell. Compared to previous scenes in the industry, it was ultimately ironic and thought-provoking.
Going to market quickly
Those who know about the domestic outdoor product brand will compare Columbian and Pathfinder.
As the first listed company in the domestic outdoor products industry, Pathfinder had only about 100 stores before and after 2009. The number of Columbus stores has reached more than 200, and the two are known in parallel.
In 2009, Pathfinder made great strides after GEM's successful listing. Wei Qinghua realized the importance of listing and began to raise the listing issue.
In order to achieve a large scale and meet the conditions for listing, the company has rapidly increased from more than 200 stores to more than 600 stores in a short period of time. Unfortunately, in the final stage of the Columbus layout market sprint, IPO barriers were encountered: On November 3, 2012, after the release of Zhejiang Shibao, the China Securities Regulatory Commission launched a massive IPO self-inspection and verification campaign, and the IPO stopped. It did not restart until January 2014.
The opening of the IPO directly led to the collapse of the Golo Ventures. At this time, the Colombian step also ushered in two crises:
The first is that the investment is too large to be profitable, so that it has been suffering from financial crisis;
To open a store requires a $0 million investment, but the store's earnings are uneven, with more than tens of thousands or tens of thousands, or the profit and loss are flat. The recovery cost of traditional industries is not so fast.
Obviously, the rapid expansion of the physical store to stimulate the market, while ignoring its own operating capabilities. The original Goolbu’s more than 600 stores have been shut down. In the end, more than 200 stores have been maintained, of which dozens of direct stores remain.
The second is the IPO barrier, which means that in a market system with self-regulation, Goron has lost its financing function.
This is no doubt that Columbus, who lacks funds, is a big hit. Especially in 2014, on the one hand, the rapid decline in performance, on the other hand, is a huge financial need for rapid development. Under this circumstance, Wei Qinghua further increased the financing, which has been an absolute share of more than 90% of the company's shares, and began to gradually dilute. Conversely, in order to meet the funding needs, the stock was used as a chip to attract more investment.
It is understood that the number of Columbus shareholders once reached 28, of which Wei Qinghua holds 46.22%, and the other 4 institutions and companies hold 7.4%, which is the top five shareholders of Columbus.
Having lost the opportunity of listing on the GEM, Colombian can only choose to be listed on the New Third Board, but it will eventually be unable to return. After the listing of the New Third Board, Wei Qinghua's shareholding ratio further decreased, holding a total of 28.62 million shares in the company, which accounted for 42.72% of the company's share capital.
After the incident, these stocks were all pledged and used for personal use. The holder of the pledge was Shengshan Asset Management (Shanghai) Co., Ltd.
Before he lost, the company owed more than 70 million yuan in bank loans, and the supplier’s payment was more than 30 million yuan. Although the Columbus brand has certain value in the industry, the company’s capital is cut off from the chain, and the wages cannot be paid out. Institutional shareholders of the New Third Board are unwilling to make additional investments, which eventually led to today’s situation. One of the executives inside Colombian said.
In the end, Wei Qinghua resigned from the chairman and general manager in a paper express way and ended the new three board game which lasted less than five months.
Painful operating model
In addition to blindly opening the store for listing, the operation mode of Columbus is also painful.
Pathfinders have developed into an ecological circle since its inception. Although Columbus once intended to come from behind, he ended up with a single model.
In 2012, the e-commerce swept through, and the Pathfinder’s pace slowed down. Realizing that the slowdown of outdoor brand development is a phenomenon of the whole industry, Pathfinder began to try to transform.
Compared with the three club members' online club + online e-commerce platform + professional offline retailer model, the Pathfinder seems to be more advanced. Its new strategy involves online travel, e-commerce O2O, outdoor LBS, smart wear and other market hot spots.
In 2014, when the Internet thinking was still just a concept, Pathfinder used the Internet to transform a traditional enterprise from a manufacturer to an outdoor overall solution provider. In particular, after the acquisition of Greenfield, Pathfinder entered the vast outdoor online travel service market and took a successful first step towards its diversified development.
In contrast, in the Internet age, he still operates in a traditional retail model that relies solely on outdoor products. His price and user experience are widely criticized. Obviously, such a Colombian step is difficult to continue.
It can be judged that even if Wei Qinghua can raise enough funds to operate Columbus, I am afraid that in the end it will be impossible to escape the fate of defeat. This conclusion is not difficult to explain, the mode of operation is still confined to the traditional thinking, do not value the internal pain points, can not achieve the benefits of a single store, can not meet the normal operation of the company's needs, this way does not meet the market development law.
What is unknown is that, before this, there was actually another possibility for the survival of Columbia.
According to Columbus internal executives, Semir apparel once issued an offer for Wei Qinghua and the purchase price was as high as 300 million, but Wei Qinghua rejected the proposal at that time. On the one hand, because Wei Qinghua cherishes his feathers, he is not willing to let go of the company that he founded with his own hands. On the other hand, because the development of Columbian Walks is at its midst, there are countless possibilities in the future.
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