Zhongxin Jingwei Client, March 7th (Gao Xiaozheng) March 6th (Friday), the last trading day of the week on Saturday, the "five-day continuous board" failed. In the early morning limit situation, the board suddenly exploded and the stock price went straight. The daily limit was as high as 20%, and a "sky floor" was staged. In this regard, online investors have mixed feelings, such as "the entire warehouse is 900,000 hits, and can only be cut next week", "lost hundreds of thousands at a time", "we have lost all the money to marry my wife", and there are "stops" Into a half-position "" seeking wealth insurance ". The "Internet celebrity concept stock" that sells shoes made its 20,000 shareholders tangled this Saturday.

Taking the "Internet celebrity concept" stock price doubled

As a traditional shoe company, after a period of low performance on Saturday, it transformed to the concept of online influencer. It acquired Yuanwang Network in 2018, which was established in November 2010. It is mainly engaged in Internet advertising and agency. It is an Internet content production agency (MCN) organization that operates online celebrity live broadcast, ranking relatively high in the industry.

It is worth noting that the data of Tianyan Inspection shows that the major shareholder on Saturday is Shenzhen Saturday Investment Holdings Co., Ltd., which is the shareholder of Guangzhou Zhuoshi Growth Equity Investment Enterprise (Limited Partnership), which is in turn the Hangzhou Weinian Technology Co., Ltd. Shareholders, and Hangzhou Weinian Technology Co., Ltd. is the operating company behind the Internet celebrity Li Zichen.

Recent share price trends on Saturday Source: wind

After boarding the "Internet Red Concept Stock", starting from December 13, 2019, the stock price continued to pull out more than a dozen daily limit boards on Saturday. The stock price rose from the previous 7.2 yuan / share all the way to a maximum of 26.20 yuan / share, and the stock price rose 3.6 times.

Although it was clarified on the Shenzhen Stock Exchange Interactive Exchange platform on Saturday, December 26, 2019: "Li Zizheng is not a net red signed by the company." On January 10, 2020, Saturday, it was clarified on the Shenzhen Exchange Interactive Exchange platform: "Li Jiaqi It's not the company's contracted Internet celebrity. "But at this time, the stock price has reached a cumulative increase of 250.28%, and the transaction amount has reached 18.6 billion yuan.

At an investor relations event held on Saturday, March 1, 2020, Wangwang Network further stated in response to investor questions that the company's focus in 2020 is to cultivate the ability of cooperating influencers. In 2021, "the output is from the supply chain ability."

Song Qinghui, a famous economist, said in an interview that "the concept of online celebrity is popular in the capital market because of the so-called 'net celebrity economy'. The stock market is pursuing the enthusiasm of the capital market, and the rise in stock prices is not sustainable. "

Song Qinghui told the client of Sino-Singapore Jingwei that at present, the subject matter of the market hype is relatively scarce, and the "Internet celebrity concept stocks" are hotly speculated. It is just a pure subject matter hype. Bullish on these listed companies. The logic behind it is still to use the "net red economy concept" to attract investors' attention in order to speculate. Currently, the hype of Internet celebrity concept stocks has come to an end. This kind of hype is more harmful to the secondary market and has contributed to the bad speculation in the market.

Executives frequently cash out after spinning off the footwear industry

In the industry's opinion, the switch from the "heavy asset" of the footwear industry to the "red asset" of the Internet celebrity on Saturday was due to the decline in the main business. The reporter of Sino-Singapore Jingwei inspected the annual financial report on Saturday and learned that starting from 2013, there will be an increase in revenue but not an increase in profit. Since 2015, revenue and net profit have begun to decline.

In response, the loss was attributed to the rise of emerging channels, the challenge of traditional department stores, the decline in passenger traffic and pressure on channel fees and employee compensation. Beginning in 2015, the company decided to establish a "her fashion ecosphere" as the strategic direction of transformation and upgrading, accelerate the layout of the fashion industry, and gradually develop "her fashion" category businesses such as clothing, bags, fashion accessories, beauty skin care, body health, culture and sports.

However, the strategic upgrade did not save Saturday, and 2016 performance continued to show a downward trend. In the same year, the company re-determined the strategic development direction of "Building a Fashion IP Ecosystem", began to increase the layout of fashion IP incubation and the influencer economy, and changed the company name from "Foshan Saturday Shoes Co., Ltd." to "Saturday Co., Ltd." .

The data shows that in 2017, Saturday had a huge loss of 352 million yuan. The company explained that it impaired the goodwill, inventory, and accounts receivable at the end of the reporting period, thereby forming a large amount of asset impairment losses; in 2018, Turning losses into profits, the Internet advertising business revenue share increased from 9.20% in 2017 to 11.02%, while the footwear and apparel category fell from 90.49% to 88.63%; in the first half of 2019, the Internet advertising business revenue share rose to 35.87%.

It is worth mentioning that on Saturday, December 20, 2019, an announcement was announced that 100% equity of its wholly-owned subsidiary Foshan Saturday Technology R & D Co., Ltd. was transferred to Foshan Shiying Shoe Material Co., Ltd. for a consideration of 13.85 million yuan. After the transfer is completed, the company will no longer retain production capacity.

“From Saturday ’s divestment of the footwear industry ’s capacity last year to offline sales damage due to the epidemic, this year ’s divestiture of the footwear industry may be more rapid, thus becoming a shell company with a net red concept.” Cheng Weixiong, an independent analyst in the footwear industry, believes. Song Qinghui also expressed a similar view. He pointed out that "from the divestment of the shoe industry's production capacity to the increase in the proportion of Internet advertising business, there are various signs that the main business may be divested in the next Saturday to become a shell company."

Source of executives' reductions: Company announcement

It is worth noting that while the stock price rose sharply on Saturday after the "Internet Red" hot spot, the company's management frequently reduced its holdings. On Saturday, December 24, 2019, the "Pre-Disclosure Announcement on Reduction of Shares Held by Controlling Shareholders and Concert Parties" and the "Pre-Disclosure Announcement on Directors and Senior Management Personnel's Proposed Reduction of Shares" were disclosed. The manager and the chief financial officer, the company director, the deputy general manager and the secretary of the company, and the deputy general manager of the company reduced the company's shares through centralized bidding.

According to the completion of the company's senior management reduction plan announced on Saturday, January 18, 2020, on January 16 and 2020, the above-mentioned executives' total cash reduction amount reached 255 million yuan.

Some institutions in the "sky floor" raise more than 80 million

The March 6 limit did not appear to have "scared back" Bo insurance's capital. As the daily price drop deviation value reached 7%, it was listed on the Dragon Tiger List, and the transaction value on the day reached 2.722 billion yuan. According to the statistics of the Dragon Tiger List, the total purchase amount of the top 5 seats exceeded 250 million yuan, accounting for 9.53% of the total turnover of the day. Among them, the agency-specific seats purchased 80.206 million yuan, ranking first in the purchase.

March 6th Dragon Tiger Source: wind

In this regard, Song Qinghui said that the agency ’s move was frantically “gambling” and betting that its stock price would be raised next Monday. In the same day, the five sales departments sold over 170 million funds, and more sales department seats were doing two-way operations, while profiting after pushing up the stock price. Among them, Shenwan Hongyuan Securities Co., Ltd. Shanghai Minhang District Dongchuan Road Securities Sales Department bought 62.107 million and sold 89.18 million; Guotai Junan Securities Co., Ltd. Shanghai Jiangsu Road Securities Sales Department bought 47.052 million and sold 41.305 million. Net amount of 6.746 million.

According to statistics from Choice, in the past month, he has been on the leaderboard three times on Saturday. In the past three months, he has appeared on the leaderboard 32 times in a row. The seats are basically occupied by various sales offices and major hot money relays. Boosted Saturday's stock price. Among them, Guotai Junan Securities Co., Ltd. Shanghai Jiangsu Road Securities Business Department made 19 lists, bought 10 times, sold 11 times, and sold 130 million in net. Guoyuan Securities Co., Ltd. Shanghai Hongqiao Road Securities Sales Department, China Merchants Securities Co., Ltd. Shanghai Mudanjiang Road Securities Sales Department, Huatai Securities Co., Ltd. Nanjing Central Road Third Securities Sales Department, Guosheng Securities Co., Ltd. Ningbo Sangtian Road Securities Sales Department Waiting for the sales department to make the list.

On the evening of March 6, the Shenzhen Stock Exchange issued an announcement urgently, saying that it adopted self-regulatory measures for 82 abnormal securities trading behaviors, continued to monitor key Saturdays with abnormally high gains for consecutive days, and took timely regulatory measures. (Zhongxin Jingwei APP)

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