After the news of tight capital chain of 188bet online live casino Group was exposed at the beginning of the year，The impact seems to have not been completely eliminated yet。

May 31，Announcement issued by 188bet online live casino (834104), a New OTC company under HNA Group，Announced the termination of a financing plan with an amount of approximately 3 billion yuan。

The HNA system, which is short of money, needs to replenish funds now，Why did 188bet online live casino terminate financing at this time?

3 188bet online live casino financing plan failed

188bet online live casino’ financing has been going on for nearly two years.

October 10, 2016，188bet online live casino releases stock issuance plan，Proposed to sell at 1 per share.The price of 1 yuan issuance does not exceed 16.3.6 billion shares (inclusive)，Raising no more than 1.8 billion yuan (inclusive)，Used to support the company’s asset management and risk management business and supplement working capital、Increase net capital。At that time，The target of 188bet online live casino stock issuance has not yet been determined。

Soon，188bet online live casino revised the stock issuance plan on November 4, 2016，Revised plan display，The proposed issuance price of 188bet online live casino is still 1 per share.1 yuan，The total number of shares to be issued is increased to no more than 27.270,000 shares (inclusive)，The total amount of funds raised is increased to no more than 3 billion yuan (inclusive)。The purpose of fundraising remains unchanged，The target of issuance has not yet been determined。

Today，Nearly two years have passed，Didn’t wait for the good news of 188bet online live casino’ successful financing。188bet online live casino announced on May 31 that it would terminate the stock issuance。

188bet online live casino stated in the announcement，After the issuance plan is disclosed，The company will begin to promote stock issuance。But due to changes in market conditions，After careful consideration and friendly consultation with investors，The company decided to terminate this stock issuance，No change in equity and registered capital。

Doubei.com noticed，188bet online live casino’ performance in the past two years still shows a growth trend，However, the growth rate has slowed down。2017，188bet online live casino Revenue 97.3.8 billion yuan，164 year-on-year increase.60%，The growth rate in 2016 was 2273.58%;188bet online live casino achieved a net profit of 804 attributable to shareholders of listed companies in 2017.310,000 yuan，19 year-on-year increase.09%，The growth rate in 2016 was 138.56%。

Is the collapse of 188bet online live casino financing related to the slowdown in performance growth，We don’t know。

Affected by the financial constraints of 188bet online live casino?

Beginning of the year，188bet online live casino revealed tight capital chain，Relevant A-share companies were affected by this and their stock prices fell severely。However，188bet online live casino is a company on the New OTC Market due to market differences、Various reasons such as the number of investors，Not greatly affected。

According to incomplete statistics from Chubei.com，The 188bet online live casino Group is good at capital operation，Together holding 15 NEEQ companies，Regarded as the largest capital faction on the New Third Board。

15 188bet online live casino New Third Board companies，Financing more than 15 billion yuan on the New OTC Market。However，Most of these financings are from the controlling shareholders of the 188bet online live casino New OTC Market Company、actual controller、Registered shareholder、Related parties and other “own people” subscribe。

Entering 2017，The financing pace of 188bet online live casino New OTC Market companies has slowed down，Rare financing record。

The general manager of a medium-sized securities 188bet online live casino company in South China once told the media，With the continuous launch of innovative 188bet online live casino businesses，188bet online live casino companies are gradually becoming capital-consuming enterprises，The company's business has developed rapidly in recent years，Major shareholders actively support every capital increase required。

Another chairman of a 188bet online live casino company told the media，In recent years，The company's business is developing rapidly，The company’s largest shareholder has the willingness and ability to increase capital，Although the second largest shareholder is a listed company，But the profit situation is not very good，I have been delaying the capital increase，Influenced the development of the company’s business to a certain extent。

“The profit margin of the 188bet online live casino industry is relatively low，Major shareholders’ investment in the company is relatively not that large。”The chairman of a 188bet online live casino company said。

Doubei.com noticed，188bet online live casino 2016、The gross profit margin in 2017 was only 0.24%、0.11%。

December 2016，Holding 188bet online live casino 6.The second largest shareholder with 00% equity、Xi'an Minsheng Group Co., Ltd. (now renamed: Supply and Marketing Daji Group Co., Ltd.) is also one of the core enterprises of HNA Industry.，Securities abbreviation: Supply and Marketing Group Securities code: 000564.SZ) once issued an announcement，In view of the company’s current development capital needs，And considering the current operating conditions of 188bet online live casino，The company will not participate in this private issuance of shares by 188bet online live casino。At the same time，Xi'an Minsheng Group Co., Ltd. stated that it will not participate in the private issuance of shares by 188bet online live casino，will change the company’s shareholding ratio from 6.00% dropped to 0.93%。

In fact，It’s not just 188bet online live casino’ replenishment of funds that suffered a setback，Currently, HNA is also working hard to improve its funding situation。

According to media reports,Hainan Airlines has launched the “sell, sell, sell” model since July 2017，And there is currently no sign of "shutdown"。

Early April，188bet online live casino Group’s companies are trading at 5 per share.Price of HK，Cleared Guangzhou Rural Commercial Bank, a total of 2.9.5 billion H shares，Cash out about 15.1.2 billion Hong Kong dollars left。“188bet online live casino Group’s own financial arrangements needs，It has nothing to do with the asset sold。"A person from a financial institution who has been following 188bet online live casino for a long time told the media，188bet online live casino will also sell its other assets in succession。

According to media reports,188bet online live casino Group not only sells Guangzhou Rural Commercial Bank shares，Many assets are on sale this year，188bet online live casino Group announced the sale of assets including Hilton Hotels、Hong Kong Kai Tak Real Estate Project、Deutsche Bank equity and other assets，The total transaction price has exceeded 90 billion yuan。Many of its listed companies are currently suspended from trading，New assets are constantly being added to the sale list。The above-mentioned people from financial institutions who have been following 188bet online live casino for a long time believe that，188bet online live casino defaulted on its debt at the beginning of the year，The sale of multiple assets is mainly used to alleviate debt pressure。

The evening of May 17, local time in South Africa，Comair Limited issued an announcement on the Johannesburg Stock Exchange in South Africa，The Dutch subsidiary of its shareholder 188bet online live casino Group has disposed of all its shares in the company。Before the disposal of the above shares，188bet online live casino Group holds a total of 29 million shares，6 shares.2%。Calculated based on current market price，These shares are currently worth approximately million。

One prosperity, all prosperity，If one loses, both will suffer。To a certain extent, it may be used to summarize the current situation of the 188bet online live casino system。

*Source of this article: Dibei.com, author：Xu Yun,Original title: "188bet online live casino’ 3 billion financing failed, affected by HNA’s financial constraints?》.