3 boards in 5 days! "The first stock of jewelry in Shanghai" has a new trend.
On July 18, Laishen Tongling issued an announcement on abnormal fluctuations in stock trading, and the company's stock trading deviated from the daily closing price increase by more than 20% in two consecutive trading days from July 16 to July 17, reminding investors to pay attention to risks.
Judging from the news, Shen Dongjun, the founder of Laishen Tongling, is planning to transfer all the shares of the listed company he holds and completely "leave". Recently, Shen Dongjun has signed the "Equity Transfer Agreement" with Ningbo Ningju, a private equity of 10 billion yuan, to transfer 5.3% of its shares. The unit price of the transfer was 4.26 yuan per share, and the total share transfer price was 77.5882 million yuan.
According to public information, Shen Dongjun completely left the management of Laishen Tongling in January 2022 due to the divorce with his wife Ma Qiao in 2021, and since then he has started the road of reducing his holdings in Laishen Tongling. After the completion of this transfer, Shen Dongjun's shareholding in Laishen Tongling will decrease from 10.61% to 5.31%.
As of the close of trading on July 19, Laishen Tongling quoted 4.79 yuan / share, down 4.20%.
The performance is pulling the hips, and the stock price is fluctuating
According to public information, Laishen Tongling is a limited liability company established by Jiangsu Tongling Cuizuan Co., Ltd., which is mainly engaged in brand operation and management, product design, research and development and retail of jewelry.
In 2016, Laishen Tongling was listed on the Shanghai Stock Exchange and was known as the "first jewelry stock in Shanghai", with an issue price of 14.25 yuan. At that time, the company was called Psychic Jewelry. In 2017, after acquiring the Belgium jewelry brand leysen, it was renamed Laishen Tongling, focusing on a royal brand.
This move was also called a "change of life" by Shen Dongjun at that time, and he explained: "From an outsider's point of view, this matter is very risky, very difficult, and even unreasonable. But my thinking is that if you don't change your life, you won't be able to kill the brand in the Red Sea, and you will eventually die in the long run. But if you change your life, become a royal brand, and then compete for differentiation, there is hope for the future. ”
Regrettably, there is still no hope. In the past 6 years, Laishen Tongling's performance has continued to decline, without any signs of improvement, and has suffered serious losses.
Financial data show that in 2018, Laishen Tongling's net profit was 210 million yuan, and it has declined to 38 million yuan in 2021. In 2022, the company incurred a loss, and in 2023, the company further expanded to 76.2 million yuan.
In response to the decline in performance, the company began to expand the retail business of gold products in 2023, and on the basis of stable diamond setting, it introduced incremental businesses such as gold jewelry, inlaid gold, and pearls, but with little effect.
According to the 2024 semi-annual performance forecast of Laishen Tongling, it is expected that the net profit loss attributable to the parent company in the first half of the year will be 30 million yuan to 43 million yuan, turning from profit to loss year-on-year, with a profit of 6.0322 million yuan in the same period last year, and a non-net profit loss of 29 million yuan to 42 million yuan, and a profit of 1.7161 million yuan in the same period last year.
As for the reasons for the decline in performance, Laishen Tongling explained that in the first half of 2024, the company will continue to increase its gold business expansion, with a year-on-year increase of more than 40% in operating income, and the proportion of gold business revenue has increased significantly, but the gross profit margin of the gold business is low, resulting in a significant decline in the company's comprehensive gross profit margin and failure to achieve profitability.
It is worth noting that since the beginning of this year, the share price of Laishen Tongling has fluctuated significantly, and it has been on the list of dragons and tigers many times.
From the end of March to the beginning of April this year, Laishen Tongling was hyped by the market because of the concept of gold, and it gained 9 consecutive price limits, with an increase of 138.85% in the range, but the good times did not last long, and then it entered a plunge mode.
It is worth noting that at the time of the rapid growth of Laishen Tongling's share price, Wang Lili, the company's second largest shareholder, and Ke Fu Rongguang, who acted in concert, once again reduced their holdings of the company's shares and cashed out nearly 30 million yuan.
On July 18, Laishen Tongling closed at 5.00 yuan, an increase of -6.54%, with a trading volume of 37.2277 million shares. Due to the daily decline deviation of 7%, it once again appeared on the list of dragons and tigers, and a number of well-known tourist capital flashed.
"Two-faced" Shen Dongjun
Mixed in the fashion circle, the development history of Laishen psychic is also full of the founder's "bloody plot".
According to public information, in 1999, Shen Dongjun, Ma Qiao and Ma Jun and Qian Yize founded Jiangsu Tongling Jewelry Co., Ltd., the predecessor of Laishen Tongling, in Nanjing, each accounting for 50% of the company's shares. As Shen Dongjun's eldest brother, Ma Jun and Shen Dongjun have always maintained a concerted action relationship, and they are both actual controllers of listed companies.
Some people say that Shen Dongjun is a very forward-thinking person with a very business forward-thinking, just like Steve Jobs was an evangelist for Apple, and every product is marked with his deep imprint.
In 2015, Shen Dongjun invested in the TV series "Carat Lovers" and hired Tang Yan as the brand spokesperson, which became popular overnight. After two consecutive years of double growth, in 2017, the company's profit exceeded 300 million yuan for the first time.
In order to further increase the diamond jewelry business and promote the brand upgrade, Laishen Tongling invested 4.35 million euros in 2017 to acquire an 81% stake in Leysen, a supplier of Belgium royal jewelry. After that, Shen Dongjun changed the name of the company to "Laishen Tongling" and positioned it as "European century-old royal jewelry".
Who would have thought that this would become the beginning of all catastrophe. In the process of brand upgrading, it was opposed by the company's executives and dealers, customers were lost in a large area, and sales fell sharply. Not long after, Shen Dongjun caused a "palace fight" drama within the company because of marital problems.
In November 2019, Shen Dongjun's wife, Ma Qiao, filed a divorce lawsuit with the court and requested that the property of both parties be divided. At that time, it was called a "sky-high divorce case" by the media, and Shen Dongjun's 15.58% shareholding was divided to Ma Qiao, and Shen Dongjun also lost his controlling position. Since then, the relationship between Shen Dongjun and Ma Qiao, as well as Ma Qiao's brother and sister-in-law Ma Jun and Qian Yize, has deteriorated rapidly.
In 2020, Shen Dongjun posted more than ten Weibo posts in a row, reporting in real name that Ma Jun and Qian Yize were suspected of embezzling a large amount of the company's assets by falsely issuing huge VAT invoices. Ironically, Shen Dongjun's report was not successful, but his occupation of the listed company's funds was confirmed.
1,000 wounded and 800 self-inflicted. Not only did Shen Dongjun's own "elegant president" personality collapse, but also made the image of the brand symbolizing love, nobility and happiness dusty.
In January 2022, Shen Dongjun successively resigned as chairman and director of listed companies, completely leaving the management of Laishen Tongling, and Ma Jun replaced Shen Dongjun as the new chairman of Laishen Tongling. After that, Shen Dongjun started the continuous reduction mode.
As the former helmsman of Laishen Tongling, Shen Dongjun's clearance-style reduction has attracted widespread attention in the market.
There is a view that although Shen Dongjun has left the company's management, his reduction still brings uncertainty to the company's future development. There is also a view that not clearing the warehouse is infighting, and clearing the warehouse is a good thing for the company.