“Tongyu Fund is fully optimistic about the future development of 188bet mobile login，In view of the fact that there is still great uncertainty in this matter，The company has applied for trading suspension，Please refer to the company’s subsequent announcement for details。"Just 188bet mobile login (300005.SZ) Planning the change of control，The relevant person in charge of the company’s securities department told a reporter from the Financial Associated Press。

Following the introduction of Beijing Tongyu High-tech Equity Investment Center (Limited Partnership) (hereinafter referred to as "Tongyu Fund") with a state-owned background in December 2019，January 25，188bet mobile login controlling shareholder、The actual controllers Sheng Faqiang and Wang Jing are planning the share transfer again。It is reported，Shengfa Qiang and Wang Jing have signed the "Share Transfer Intention Agreement" with Beijing Tongyu Zhonghe Technology Development Center (Limited Partnership) (hereinafter referred to as "Tongyu Zhonghe")，Plans to transfer its holdings of listed company 5169 to the latter through agreement transfer.120,000 shares of tradable shares without sales restrictions and their related shareholder rights，The transferred equity accounts for 5 of the total share capital of the listed company.85%，The transaction may result in a change in the control of the listed company。

"This is working，Other matters must wait for notification。" Relevant staff of 188bet mobile login told the reporter of Financial Associated Press。

Shen Meng, executive director of Chanson Capital, said in an interview with a reporter from the Financial Associated Press，From the current perspective，188bet mobile login’s performance is not ideal，Especially in the context of sluggish consumption，Its performance is under greater pressure。The company founder and his wife lack the skills to turn around the company's performance，The previous introduction of general funds had the intention of letting state-owned assets enter the market to provide help。

“After introducing investment，Listed companies have not improved，Catching up with the trend of 188bet mobile login taking over listed companies，The founder further transferred the equity to companies with 188bet mobile login background，The current major shareholders may gradually withdraw from the listed company in the future。"Shen Meng said。

188bet mobile login enter the market

“The counterparty of this transaction, Tongyu Zhonghe, is a special purpose vehicle established by Tongyu Fund specifically for this acquisition。”188bet mobile login said。And the Sky Eye Check information shows，Tongyu Zhonghe was established on June 15, 2020。In the opinion of industry insiders，The company had already started planning the equity transfer as early as June last year。

Actually，Back in December 2019，Sheng Faqiang and Wang Jing signed an agreement with Tongyu Fund，Transfer a total of 6892 unrestricted shares 188bet mobile login company held by him.170,000 shares，Accounting for 7% 188bet mobile login company’s total share capital.73%。

Query based on Tianyancha information，Tongyu Fund is a private equity investment fund managed by Beijing Tongyu Heying Investment Management Co., Ltd. (hereinafter referred to as "Tongyu Heying") as the executive partner。Beijing Tongzhou District Real Estate Development Company holds 40% shares of Tongyu Heying，The actual controller 188bet mobile login former is the State-owned Assets Supervision and Administration Commission of Tongzhou District, Beijing。

About the reasons for the change of control and the company’s strategic plan after the change，188bet mobile login staff only spoke to reporters，"This information is currently relatively sensitive。”

“From a certain perspective，188bet mobile login has not yet recovered from its original quagmire，State-owned assets were previously involved，In the end, the expected effect was not achieved。This change of control also shows the helplessness of Sheng Faqiang and Wang Jing，No funds to operate，The company will have more difficult times in the future，Financial pressure can be alleviated by introducing state-owned assets。”Independent analyst of footwear and apparel industry、Cheng Weixiong, general manager of Shanghai Liangqi Brand, told reporters from the Financial Associated Press。

“State-owned assets enter the market more to provide financial support，The management level needs to be left to professionals，It is not necessarily better if state-owned assets are too involved in management。Overall，188bet mobile login’s reforms are worth the market’s expectations。"Cheng Weixiong emphasized。

“The major shareholders at this time are helpless but should be fortunate，It is helpless because 188bet mobile login pressure on funds and performance，Had to give up part 188bet mobile login equity，Fortunately，There are still state-owned assets willing to take over。" Shen Meng said frankly，Change of major shareholder in the future，It is not ruled out that state-owned assets will be introduced into listed companies to form a dual-main business operation model，Or introduce related assets with synergy effects。

Slimming down and replenishing blood

It is worth mentioning，When 188bet mobile login first introduced state-owned assets，This is the year when it faces the risk of delisting。According to its financial report data in previous years，2017，The company suffered its first loss after listing，Achieve revenue 30.3.3 billion yuan，Net profit loss 8485.390,000 yuan，Net profit loss after deduction 1.8.5 billion yuan；2018，Its performance continues to decline，Net profit loss 1.8.1 billion yuan，Net profit loss after deduction 2.1.2 billion yuan；Until 2019, turn losses into profits，Realized net profit 1.1.3 billion yuan。

"Although the company's 2017 annual report、Loss for two consecutive years in 2018，However, in the above two years, the company's main outdoor products business has developed steadily and achieved continuous profitability，The main reason for the loss is the accrual of a large amount of goodwill for investment projects that did not meet expectations in the early stage、Due to impairment of investments and assets。”Relevant staff of 188bet mobile login once told reporters from the Financial Associated Press。

However，First three quarters of 2020，The company lost money again1.8.1 billion yuan。To this，The explanation is，The decline in performance is mainly due to the impact 188bet mobile login epidemic，The company’s main outdoor business income decreased compared with the same period last year，At the same time, travel services such as Yiyou will no longer be included in the consolidation from the beginning to the end 188bet mobile login reporting period，Due to the decrease in tourism service income。

In the opinion of industry insiders，Previous crises faced by 188bet mobile login，All are the consequences of its blind expansion。From 2018，The company starts travel、Businesses and investment projects in sports and other fields that are less relevant to the main outdoor business，Start the gradual divestment and exit plan，Gradually returning to the main outdoor business。

“188bet mobile login returns to its main business，Made many actions。It still has strong brand power，is the leader of domestic outdoor brands，It’s just that it was a waste of time to leave the main business。With the entry of state-owned assets and financial support，There will still be a chance to turn around。" Cheng Weixiong said。

As understood，188bet mobile login is still undergoing weight loss，Accelerate return to main business。Recently，Liaoning Beifuyuan Trading Co., Ltd. (hereinafter referred to as "Liaoning Beifuyuan") completed multiple changes to industrial and commercial information，188bet mobile login withdraws from investors。Previous September 2015，To promote the construction and implementation of 188bet mobile login’s outdoor ecosystem strategy，Integrate resources to improve O2O outdoor product consumption experience，188bet mobile login acquires 51% of Liaoning Beifuyuan’s shares with its own cash。

“China’s outdoor products industry is an emerging sunrise industry，In the long run, the future market space and potential are huge。Based on the experience during the SARS epidemic in 2003，Although the epidemic had a greater impact on the sales of outdoor products，But after the epidemic, the outdoor industry quickly bottomed out，Exhibiting explosive growth。"Related staff of 188bet mobile login said。

“After the SARS epidemic, the outdoor sports category has increased significantly，188bet mobile login is also an opportunity for pathfinders。But the sporting goods consumption scene will still be affected，188bet mobile login requires enterprise、The government and others work together。”Apparel Industry Analyst、Zhang Qing, CEO of Key Way Sports Consulting Co., Ltd., told reporters from the Financial Associated Press。

*188bet mobile login articleSource: 188bet mobile login, author: Lu Jiale, original title: "The founder wants to give up control. Can 188bet mobile login turn around with state-owned capital background?》.