On the evening of December 27, Taiyuan Lionhead Cement Co.Ltd(600539) (600539, SH) announced that it planned to establish a beauty brand joint venture with Shanghai Yajin International Trade Co., Ltd. (hereinafter referred to as Yajin international trade) and Shanghai Yaoen e-commerce Co., Ltd. (hereinafter referred to as Yaoen e-commerce), and Taiyuan Lionhead Cement Co.Ltd(600539) planned to invest 10 million yuan and hold 50%.
Last June, Taiyuan Lionhead Cement Co.Ltd(600539) planned to acquire 40% equity of Hangzhou Quentin Technology Co., Ltd. (hereinafter referred to as Quentin Technology) for 128 million yuan. In June this year, Taiyuan Lionhead Cement Co.Ltd(600539) plans to purchase all or part of the remaining shares of Quentin technology and raise supporting funds, but after half a year, Taiyuan Lionhead Cement Co.Ltd(600539) has not been able to issue the notice of convening the general meeting of shareholders, announcement of the restructuring report and other relevant documents.
From building materials cement to energy-saving and environmental protection product manufacturing, and then to e-commerce, Taiyuan Lionhead Cement Co.Ltd(600539) has been exploring transformation. This time, when entering the field of beauty, Taiyuan Lionhead Cement Co.Ltd(600539) has started the exploration of new business.
proposed to invest in beauty companies to supplement e-commerce business
According to the announcement, the joint venture is tentatively named Anhui yaen Brand Management Co., Ltd., with a registered capital of 20 million yuan, Taiyuan Lionhead Cement Co.Ltd(600539) plans to invest 10 million yuan, with a shareholding ratio of 50%. Yajin international trade and Yaoen e-commerce plan to invest 5 million yuan each, with a shareholding of 25%.
According to the announcement, Yajin international trade and Yaoen e-commerce were established in February 2017 and February 2016 respectively, both located in Shanghai. By the end of 2020, Yajin international trade had total assets of 43.98 million yuan and net assets of 5.7372 million yuan. In 2020, Yajin international trade realized revenue of 72.5012 million yuan and net profit of 712300 yuan (the above data are not audited). By the end of 2020, Yaoen e-commerce had total assets of 27.5913 million yuan and net assets of 2.0821 million yuan; In 2020, Yaoen e-commerce achieved a revenue of 35.5583 million yuan and a net profit of 852900 yuan (the above data are Unaudited).
The reporter saw in the recruitment profile of Yajin international trade that the company is mainly engaged in the import and circulation of daily beauty products. At present, the Acting brands include the face shop, AEKYUNG kerasys, oliveyong and skin food; Japanese PDC wine meal, Versailles rose; Holland Unilever ponds, vaseline and other imported beauty brands.
Taiyuan Lionhead Cement Co.Ltd(600539) said that the establishment of the joint venture can form a good channel supplement to the existing beauty agency channel business of the company and its holding subsidiaries and the subsequent establishment of consumer goods brand strategies such as self owned beauty, which is in line with the company’s strategic planning and production and operation needs.
On the other hand, the restructuring of the company and Quentin technology has not yet been implemented.
Last June, Taiyuan Lionhead Cement Co.Ltd(600539) planned to purchase 40% equity of Quentin technology from the counterparty in cash. The announcement shows that Quentin technology has focused on the e-commerce service industry since its establishment. After years of development, Quentin technology has become a one-stop e-commerce service operator integrating direct retail, channel distribution, brand communication and operation, and has formed certain advantages in categories such as beauty, food, pet food and daily chemical products. The company completed the transfer registration procedures of the subject assets in September 2020.
In June this year, Taiyuan Lionhead Cement Co.Ltd(600539) issued another announcement to purchase 59.99% shares of Quentin technology by issuing shares and paying cash, and raise supporting funds.
However, according to the latest announcement on Taiyuan Lionhead Cement Co.Ltd(600539) December 22, the relevant audit evaluation and due diligence related to the restructuring transaction plan have not been completed. The company failed to issue the notice of convening the shareholders’ meeting and announce the restructuring report and other relevant documents within six months of the first disclosure of the plan by the board of directors.
has repeatedly sought transformation
It is planned to invest 10 million yuan to establish a beauty company, Taiyuan Lionhead Cement Co.Ltd(600539) has started new business exploration, but compared with previous years, this is only a small test.
According to the statistics of choice, after listing in 2001, Taiyuan Lionhead Cement Co.Ltd(600539) 15 years ago, building materials cement was the main business, and the revenue proportion of building materials cement remained stable at more than 90% for a long time. Since 2017, Taiyuan Lionhead Cement Co.Ltd(600539) has changed its main business to net faucets and accessories. The revenue of net faucets and accessories in 2017, 2018 and 2019 accounted for 98.98%, 72.76% and 96.56% respectively. In the 2020 annual report, the e-commerce service industry has changed into the main industry of Taiyuan Lionhead Cement Co.Ltd(600539) again, with its revenue contribution accounting for 73.99%.
From building materials cement to energy-saving and environmental protection product manufacturing, and then to e-commerce, Taiyuan Lionhead Cement Co.Ltd(600539) has been exploring transformation, but the profit state has not changed substantially. It once wandered between wearing and taking off the hat.
According to choice data, the net profit of Taiyuan Lionhead Cement Co.Ltd(600539) was 20 million yuan ~ 30 million yuan from 1998 to 2000. As a cement enterprise, the company achieved a net profit of 37.2278 million yuan when it was listed in 2001. Now it seems that it is the “peak” of Taiyuan Lionhead Cement Co.Ltd(600539) . Since then, the net profit has declined year by year.
From 2007 to 2010, Taiyuan Lionhead Cement Co.Ltd(600539) was in a state of low profit for a long time, and the net profit was only 1 million yuan to 3 million yuan. Since 2011, the non net profit deducted by the company has been negative continuously. In 2015, the non net profit deducted by the company reached -38.74 million yuan. In 2015, the company turned losses into profits by relying on government subsidies and successfully took off its hat.
At the end of 2016, St lion head acquired 70% of the equity of dragon water purification industry through major asset restructuring. In 2017, Taiyuan Lionhead Cement Co.Ltd(600539) was transformed into the manufacturing of energy-saving and environmental protection products, but it still did not change the main tone of decline in net profit and loss. From 2017 to 2019, the company’s net profit was -50.7258 million yuan, 10.0484 million yuan and – 1982.07 million yuan respectively.
In 2020, Taiyuan Lionhead Cement Co.Ltd(600539) will be transformed again. Last June, Taiyuan Lionhead Cement Co.Ltd(600539) announced that it planned to purchase 40% equity of Quentin technology from the counterparty in cash, with a total transaction price of 128 million yuan.
According to the 2020 annual report, Taiyuan Lionhead Cement Co.Ltd(600539) achieved a revenue of 207 million yuan, a year-on-year increase of 275.73%, and a net profit of 11.1468 million yuan, a year-on-year increase of 156.24%, of which the contribution of e-commerce business revenue accounted for 73.99%.
(Daily Economic News)
