Yinhua Cup Top Ten Banking Planner Contest, Surprise Awards High Honor is waiting for you!
Jumeibu shared charging treasure company shareholders questioned the founder "blind fly"
Hengrun Investment Openly stated that Jumei will invest US$59 million in suspected projects; Chen Ou said that Charging will complement the flow
On August 31, Jumei Premium announced that it has completed the acquisition of Shenzhen Street Power Technology. River International Holding, a wholly-owned subsidiary of Jumeiyou, will hold a 60% stake in Street Power Technology. However, while receiving the charging treasure, Chen Ou, chairman of Jumei Premium, was also questioned by shareholders, arguing that it allowed shareholders to be in a "blind fly" state.
Shareholders claim that they have not obtained any financial information for 9 months
According to public information, Street Power Technology is a shared charging company that has deployed charging equipment in more than 20 major cities. The shared charging treasure service currently uses a self-lease cabinet mode. The street heating technology will put its charging cabinets in cooperation such as shopping malls, cinemas, restaurants, etc., and the user can take away the QR code on the cabinet and use it to return it at other service outlets in the street.
In May of this year, Jumei Premium announced that it will acquire a 60% stake in Shenzhen Jiedian Technology Co., Ltd., a shared charging treasure company, for 300 million yuan. Chen Ou is the chairman of “Street Electricityâ€. According to Tianshicha, Shenzhen Street Power Technology Co., Ltd. was established in 2015 and is headquartered in Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen, Guangdong Province. Mainly "Anker Street" city mobile power rental service. Tianjin Shunshi Tongda Technology Co., Ltd. holds 60% of the shares of Street Power, and the legal representative of Tianjin Shunshi Tongda Technology Co., Ltd. is Chen Ou.
The entry of Chen Ou also caused the turmoil of the founding team of Street Power. The original CEO Wang Zhe was out of the game, and the original software team and the head of the hardware team were also exposed. The original source of the new street-electric CEO is the former executive of Ali Pictures. In 2011, the original source joined Alibaba, responsible for Alipay wallet operation promotion and Alipay O2O business, transferred to Taobao ticket in 2014, is one of the earliest core team members of the Taobao ticket.
Just two days ago, on August 29th, this investment triggered dissatisfaction with Jurun’s shareholder Hengrun Investment. Hengrun Investment issued a letter to the chairman of Jumeiyouyou, Chen Ou and Jumei Youpin. Shen Nanpeng, the managing and managing partner of Sequoia Capital China Fund, accused Jumei Premium of letting shareholders be in a "blind fly" state.
In the open letter, Hengrun Investment accused Jumei of failing to honor its promises, investing the funds raised by the IPO in marketing, branding and product development of its core business, while investing more than US$59 million in suspected TV productions and Share the charging treasure. The open letter stated that “shareholders have been forced to 'blindly fly' for nine months.â€
The letter accused that Jumei has stopped meaningful shareholder exchanges for 22 months and has not disclosed any financial information to the shareholders for 9 months.
The accusation of Hengrun Investment also mentioned the privatization plan in Chen’s one-year premise. Prior to this, Jumei Premium announced that it would recycle the company at a price of US$7 per ADS (American Depositary Shares), which is equivalent to the issue price. One third of it. The letter stated that the proposal greatly underestimated the value of the company and led to the subsequent decline in the company's share price.
Hengrun Investment proposed to dissolve the special committee responsible for reviewing the tender offer, and immediately announced a special dividend of 1.5 US dollars per share, returning 225 million US dollars to investors, and paying dividends to shareholders.
Chen Ou: Charging treasure will consolidate the flow of Jumei platform
Regarding the accusations in the open letter, Chen O publicly responded in the evening yesterday that the letter mentioned that he had not communicated with the shareholders for 22 months. In fact, the company communicated frequently with the management.
The suspected projects, including street electric charging treasures, Chen Ou responded that these have played a very big role in complementing the acquisition of end customers and traffic, and will be an important part of the consolidation of the traffic and brand of Jumei platform. .
Regarding the company's book cash and dividends, Chen Ou said, “Management is the company's largest shareholder. If the management chooses dividends and the major shareholders cash out, this will be regarded as the most selfish behavior. We chose to let the company hold cash. Consolidate and strengthen the market share of Jumei and develop new fields that can help the company develop. Jumei is a career that I am fully committed to. I believe that I hope that this company will develop better than anyone else."
The reporter contacted Sequoia Capital on this matter and did not receive a response as of press time.
â– Background
Jumeiyou's share price has fallen 92% from its highest point
According to public data, in 2016, Jumei achieved revenue of US$951 million, a decrease of approximately 16.1% from the same period of the previous year, and net profit of US$22 million, an increase of approximately 16% year-on-year.
Looking at the performance of Jumei since its listing, the company's net profit has started to decline since it reached a high of $56 million in 2014. Its share price has also declined since mid-2014. Yesterday, Jumei Premium received US$3.06, down 1.92% from the previous trading day, with a market capitalization of US$452 million. Its share price has fallen by about 92% from the historical high of $39.45.
In the context of declining performance, in January 2016, Jumei Premium established the film company Jumei Film, and Chen Ou announced that it officially entered the film and television culture industry, and at the time stated: "It will become China's most influential in three years. Yan value economic company." In April this year, Chen Ou announced that it has entered the smart home industry and launched an air purifier. In May, Chen Ou announced that he had invested 300 million yuan to invest in the charging project, and was attacked by Wang Sicong.
In 2011, Zhenge Fund and Sequoia Capital China Fund and Xianfeng Evergreen invested a total of US$6.5 million in Series A investment to Jumeiyou, with a return rate of five or six hundred times. Xu Xiaoping once said in public that Jumei is one of his most successful investments.
However, from the documents submitted by Jumeiyou to the US Securities Regulatory Commission, it can be seen that in the first quarter of this year, Zhenge Fund and Xianfeng Evergreen disappeared from the list of major shareholders of Jumei Premium. This means that the two have significantly reduced their stocks and retired from the list of major shareholders of Jumei.
A senior industry analyst pointed out that Jumei did not establish a clear market brand positioning, and the ambiguity of positioning has made it difficult for Jumei to retain users for a long time. As for the investment in charging treasure companies, the source said that this move may bring potential financial returns, as well as direct traffic from offline services.
There are also voices that, with the general slowdown in e-commerce growth, the stage in which e-commerce relies on traffic to quickly bring dividends is over. Under the impact of e-commerce giants, the cost of vertical e-commerce customers continues to rise. Therefore, it is not difficult to understand that Jumei hopes to obtain traffic through shared charging treasures.
â– Questioning
Can shared charging treasure "save" Chen Ou?
Since March of this year, the shared charging treasure financing game has started, and the capitals of all parties are optimistic about the industry prospects, competing to bring in capital. Up to now, according to public reports, more than 30 institutions have entered the industry. Among them, the shared charging treasure enterprise street power, due to the investment of Jumeiyou products, has been frequently exploding “funding failure†and “arrears of service providers’ arrears†since May. On the evening of August 30, Chen Ou, chairman of Jumei Youpin, publicly responded, “There are some black papers circulating, and there is no money for financing failure in the street. I will look back at the account.†Street Power in March and 5 this year. The month has completed two rounds of financing, a total of 350 million yuan.
When the shared charging treasure came out, there was a situation in which the industry was hot and the outside world questioned. Tang Xin, an independent Internet analyst, said frankly, "This industry is characterized by heavy assets, heavy marketing, and then thin profits. It is necessary to have other businesses coordinated to develop healthily and sustainably. It is very difficult to do this alone."
And a person who shared the charging treasure told the Beijing News reporter, "Everyone is the entrance to the offline traffic. The shared charging treasure will be the node of the offline IoT, connecting the smartphone users and the service port, which is one. A layout. It may also be the point of attention of the big players."
Chen Ou also mentioned in his response that “there are doubts that Jumei’s investment in film and television and street lighting is not a business. In fact, it’s all about traffic, traffic to the Super APP, and more and more expensive. Get traffic through a cheaper way. It is a business operation logic."
Write/New Beijing News reporter Yang Wei Chen Weicheng
Enter [Sina Finance and Economics Unit] Discussion
Various products of Beach Towel, providing product images and physical free sample , could do Microfiber Beach Towel and Beach Cleaning Towel with Embroidery; We are a professional and qualified manufacturer of Beach Towel, and look forward to your cooperation chance, then we will give you a big suprise. Year-round online, quick response, sample offered in time.
Beach Towel,Round Beach Towel,Clearance Beach Towels,Cool Beach Towels
Danyang Flanders Textile Co., Ltd , https://www.flandersmicrofiber.com