On May 31, card inspect can release an information, 3 squirrels Inc. (the following abbreviation 3 squirrels) already won a hair application, this company and its bear sell business to will talk things over to distribute program certainly with bourse respectively, publish document of raise capital by floating shares in succession. Can hand over book of raise capital by floating shares to card inspect first from 3 squirrels, experienced during blackmail from media, food quality disturbance, twice sprint IPO folds halberd, had gone 2 years up to now half.
↑ graph occupies Oriental IC
3 squirrels ever managed a problem because of food safety and suffer market bad-mouth, and be in before long before, on May 16, card inspect can send careful appoint ask 3 squirrels explain, the company is purchased in raw material, food detects, production and additive are added, store, carry, the product quality that waits for each link surely, and whether does the built-in control system of food safety get be executived effectively soundly; Break out incident to food safety, whether had been the company built answer a mechanism effectively; Detect from some orgnaization whether the demand with safe production of food of effective contented publisher; And safe to supplier food canal accuses mechanism and effectiveness.
The Lu Yibo of sprint IPO 3 fold
Before appearing on the market, 3 squirrels had obtained the financing of above 5 rounds, total amount exceeds 500 million yuan of RMBs. When obtaining D annulus financing 2015, the appraise value of 3 squirrels already achieved 5 billion yuan of RMBs. Thinking originally however should be the successful path that appear on the market however twists and turns is ceaseless.
On March 29, 2017, 3 squirrels can hand over manual of raise capital by floating shares to card inspect. This is 3 squirrels first sprint IPO. However in October 2017, 3 squirrels can be claimed the termination of actively to card inspect examine, reason is " sign the lawyer resigns " . On October 31, 2017, 3 squirrels publish book of raise capital by floating shares newlier beforehand, removed to betting an agreement, company IPO applies for also from " break down is examined " restore normal examine and verify.
Before this 3 squirrels are exposed to the sun to go out to just ever had been signed with investment about appearing on the market of deadline to betting an agreement, involve investment a series of square preferential rights and interests and special rights and interests, include to counter-purchase authority, implicative buy authority, preferential liquidation right, oppose attenuant authority, major item one ticket veto.
The book of raise capital by floating shares that 3 squirrels handed over 2017 shows, in May 2016, small base of new horse investment and squirrel, publisher is signed " note endowment agreement " , to the squirrel by new horse investment small base is noted endowment 250 million yuan. This trading essence is new horse investment to the squirrel small base offers 250 million yuan of long-term financing, publisher offers joint liability to assure. Small base of the squirrel after financing expires or publisher pay off are over call in after money equity, new horse invests collection to secure redound, yield of equity of collection of and rather than, also do not share the management of sciuroid small base. If small base of publisher, squirrel fails to agree according to the agreement,to new horse investment pays year dissolve redound and gold of countervail repayment of capital, the publisher after be being put in financing to expire cannot call in the sciuroid small base of hold of place of new horse investment the risk of 41.67% equity.
Of misfortunes never come singly is, be in appear on the market tongueless period 3 squirrels are at the beginning of December 2017 by blackmail from media, ask 3 squirrels are contributive 5 million yuan to it " collaboration " , will make public external otherwise " relevant and negative news " . 3 squirrels respect rejected his to ask, choose to counterpoise through legal measure dimension.
On December 8, 2017, card inspect can announce 3 sciuroid general are met at going up when Zhou Shoufa. Nevertheless, meeting announcement will weigh card inspect on December 12, 3 sciuroid head send matters concerned " Shang Youxiang closes item to need to be checked further " , the decision cancels to issue the examine and verify that declares a file to its. Till June 25, 2018, 3 squirrels just enter IPO phase queueing up the 3rd times.
↑ search opens the discovery that believe treasure, risk of 3 squirrels oneself amounts to 165
Report of book of raise capital by floating shares gives a lot of issue
The book of raise capital by floating shares that 3 squirrels handed over 2017 shows, 2015 the business income of the company 2.039 billion yuan, was 4.423 billion yuan 2016, was two billion eight hundred and ninety-three million nine hundred and sixty thousand yuan first half of the year 2017. Profit respect, 3 squirrels realized net profit 2015 eight million nine hundred and seventy-three thousand nine hundred yuan, was 236 million yuan 2016, was 241 million yuan first half of the year 2017. Regard an Internet snacks as the enterprise, this report says to go up bright look.
Compare with photograph of person of the same trade nevertheless, the wool interest rate of 3 squirrels is apparent under industry average. 2015 - 2017 first half of the year, the wool interest rate of 3 squirrels is respectively 26.90% , 30.20% , 30.90% , and industry average is respectively 43.69% , 42.40% , 40.73% .
3 squirrels from " case case fruit " build up, before 3 what once achieved market of nut category fractionize, this is formed to the business of 3 squirrels brought certain influence. Although product line already covered the field of many recreational snacks such as nut, dried fruit, scented tea, but firm fruit product contributed major run to close. 2015, reached 2016 2017 first half of the year, the battalion of the nut product of 3 squirrels closes occupy score to be 80.44% , 69.83% reach 68.51% .
In addition, the sale of 3 squirrels basically is centered online on, sale channel is excessive concentration, basically include day cat store, capital east and taste only the meeting. 2015, 2016, 2017 first half of the year, the sales revenue that the company achieves through day cat store holds business gross earnings respectively 75.72% , 63.69% reach 55.22% .
Discharge bonus always has a dried up day. In September 2016, 3 squirrels opened the first line to fall. To 2018 the end of the year, the amount of the inn below the line has more than 50 only. 3 squirrels plan the amount of countrywide door inn achieved 150 2019. And competitor fine is tasted shop and come inn of the door below the line of Yi portion all exceeded 2000,
Additional, the sale cost with 3 higher squirrels also is worth to pay close attention to, advertisement of small gain transmission, teleplay is embedded, make homonymic animation IP, one burns money than. 2015, 2016, 2017 first half of the year, the cost of sales of 3 squirrels is 477 million yuan respectively, 918 million yuan mix 496 million yuan, spread cost and platform service cost among them aggregate it is 161 million yuan respectively, 261 million yuan, 119 million yuan. Mixed 2016 promotion was expended 2015 and platform service fee parts relatively go up year of growth 111.32% with 62.11% .
↑ is in get together complain platform discovery, complain relevantly with 3 squirrels have 104
Food problem is the obstacle of IPO
Include 3 squirrels inside, red snacks just ever had many domestic nets goods people " bearer " , do not produce snacks. The company is in charge of research and development and sale only, manufacturing treatment entrusts tripartite acting treatment completely, need only later " stick a card " . This kind of mode is a Shuang Renjian, be helpful for operation of brand small capital fund already, rapid and outspread, superintend hard again however article accuse, bring about hair of frequency of food safety problem.
Bitter fleabane of Zhu Dan of food industry analyst ever expressed to red star journalist, do not solve food safety problem, appear on the market inevitable meeting of 3 squirrels is very rough, even if appears on the market succeeded, the favour of investor is spent and chase after hold in both hands degree also too won't tall. This to 3 squirrels IPO is met too, bright red Dan Peng thinks, 3 squirrels itself has an advantage, in the inadequacy that saw oneself, fill strong short board hind, can be expected issue too.
The provision that 3 squirrels ever scaled bureau of the inspect that feed medicine for many times is unqualified blacklist. Among them in December 2017, total bureau of supervisory government of national provision medicines and chemical reagents about " store of flagship of cat of 3 squirrels day is making work value of mould of happy fruit product exceeds bid 1.8 times " announce, be thought to may forfeit at that time the road of the IPO of 3 squirrels. Say in the statement that 3 squirrels issue, may be extremely because the control below memory, traffic condition is undeserved,mould is caused to cause after the product leaves factory, bring about current link sample unqualified.
Besides, show according to book of 3 squirrels raise capital by floating shares, in July 2016 - in June 2017, 3 squirrels tag as safe as food level to not agree with because of product expiration period, the product does not accord with food safety standard, mark to have " sales promotion price " the different, quantity that contain sugar does not accord with indicative and consumption of misdirect of blame sales promotion, adipose content and actual content grade requirement, burden. Involve a product to have lemon of bittern lotus root, Xue Ju, freeze-dry piece, silk of butyric flavor melon seeds, He Tianjun jujube, squid.
Search of red star journalist opens the discovery that believe treasure, risk of 3 squirrels oneself amounts to 165, involve dispute of desk of intellectual property issue, contract to wait. Associated risk has 8, involve desk of issue of liability of investment firm tort to wait. The reporter is in get together complain platform discovery, complain relevantly with 3 squirrels have 104, involve business of product quality, cable to deserve to send with after service, among them mildew changes is main food safety problem.
Wu Dan of red star journalist if
Edit Pan Li
