Temperature 188bet has been hovering on the edge of bankruptcy，Seems to be on a desperate road to self-rescue。Late night on February 22nd，Temperature 188bet has successively issued announcements stating that the board of directors has reviewed and approved the bankruptcy liquidation proposal of its subsidiary Tempus Tourism Group，And explain the relevant situation of its entry into the e-commerce live broadcast。This is it，February 23，A Beijing Business Daily reporter learned this when he contacted Tempus 188bet Business Hotline，Although Tempus 188bet intends to allow its subsidiary to go bankrupt，However, the parent company is currently operating normally and there is no latest progress in filing for bankruptcy liquidation。

As a former ticket agency giant，Tempower 188bet was indeed “severely injured” under the influence of the epidemic。Based on the latest performance forecast，Temperature 188bet’s losses will reach 9 in 2020.300 million-12.0.9 billion yuan。However，Under high losses，Tempower 188bet is still “persistent” in announcing its planned investment 1.3.5 billion yuan to establish a joint venture，Carry out live broadcast to bring goods、E-commerce and related business matters，The partners have also made a performance commitment that the net profit of the joint venture company from 2021 to 2023 will be no less than 100 million to 200 million yuan respectively。In the industry’s view，Affected by the epidemic，The tourism industry is accelerating the reshuffle，Currently，The period for the resumption of outbound tourism business is still unclear，Travel companies are also trying to transform themselves to save themselves，Although live streaming has become a new goal for many companies，But currently this field is already a red ocean，Facing bankruptcy crisis, Tempus 188bet can take the opportunity to turn around，Still sinking deeper and deeper into the quagmire，Still to wait and see。

"Broken" and "Established"

According to announcement，As of September 30, 2020，The total assets of Tempus 188bet is 4.6.8 billion yuan，Total liabilities are 7.9.4 billion yuan，The cumulative amount of litigation has reached 7.0.9 billion yuan，Severely insolvent，Meet the requirements for bankruptcy liquidation，Tempus 188bet intends to agree to Tempus Travel’s application for bankruptcy liquidation by creditors。But whether the creditor’s bankruptcy liquidation application is accepted by the court，There is still significant uncertainty as to whether Tempus Travel will enter bankruptcy liquidation procedures。

At the same time，Temperature 188bet also pointed out，Affected by the new coronavirus epidemic，Their tourism business has not yet fully recovered，Ruotembang Tourism enters bankruptcy liquidation procedure，It will have a certain impact on the company’s outbound tourism business，Expected to cause 3 consequences to the company.Loss of 4.5 billion yuan。This is it，Beijing Business Daily reporter called the company，Staff said，The company is currently operating normally，The company that plans to agree to bankruptcy liquidation this time is a holding subsidiary，There is no latest progress on matters related to Tempus 188bet, which has also been filed for bankruptcy liquidation。The company will announce the latest situation through announcements in the future。

In addition to the proposed bankruptcy of the subsidiary，Tempower 188bet also explained the recently announced joint venture company mainly engaged in live broadcast delivery。It is reported，Temperature 188bet and Maisui Culture are on the verge of bankruptcy、Anhui Laofenghuang Holdings Co., Ltd. jointly established Shenzhen Maisuirong Media Co., Ltd.，The main business is live streaming、E-commerce, etc.，Maisui Culture is responsible for the actual operation。The total investment in the joint venture is 300 million yuan，Tempower 188bet invested with its own currency funds 1.3.5 billion yuan。

Public information display，Maisui Culture, the partner selected by Tempus 188bet this time, has a net asset of 10 million yuan as of the end of 2020，More than 40 anchors signed under it；Lao Fenghuang’s net assets as of the end of 2020 were 56 million yuan，Mainly engaged in precious metal crafts、Jewelry R&D and design business。For this cooperation，Temperature 188bet pointed out，The company plans to accelerate its development in Shenzhen from 2021 to 2022、Hangzhou、Guangzhou、Chenzhou’s mature live broadcast base integration，Establish a stable new retail e-commerce ecosystem。Maisui Culture has also made a performance commitment that the net profit of the joint venture company from 2021 to 2023 will not be less than 100 million to 200 million yuan respectively。

However，The Shenzhen Stock Exchange also questioned the rationality of the performance betting arrangement。Faced with the above inquiry，This time Tempus 188bet responded in the announcement，Performance commitment is mainly to motivate the joint venture parties，There is uncertainty whether it can be realized；Set up high performance commitments not to cooperate with stock price speculation，There is no situation that damages the interests of the company and all shareholders。Temperature 188bet also proposed，After communication with relevant joint venture parties，The three parties will sign a supplementary agreement，If Party B fails to achieve its promised performance，Party A does not need to fulfill the obligation to acquire equity。A reporter from Beijing Business Daily contacted the relevant responsible department of Tempus 188bet regarding the progress of live broadcast business and other issues，But as of press time，The call was never answered。

One foot has entered the quagmire

Actually，For Tempus 188bet，The crisis at hand is far more than the losses caused by the bankruptcy of one subsidiary。Public information display，2011，Tempower 188bet was successfully listed on the GEM，Once known as “China’s No. 1 Commercial Services Stock”，After starting out in the air ticket distribution business，The company has expanded its business segment to tourism、Finance and other fields，Once became the "leading" domestic ticket agent in the industry，Has a very enviable "highlight period"。

According to Tempus 188bet Financial Report，Before 2014，The company’s annual net profit is around tens of millions of yuan，The net assets size increased from 9 in 2011.3.9 billion yuan increased to a maximum of 29 in 2018.4.4 billion yuan。However, the good times did not last long，All kinds of "trouble" are coming to your door one after another。Since the second half of 2018，Tembon 188bet has constant problems，Funding crisis、Account frozen、Subsidiaries are often “out of control” and other situations。Entering 2019，The crisis further develops。According to the company’s 2019 annual report，Tempower 188bet suffered a loss of 15 during the reporting period.7.6 billion yuan，1039 year-on-year decrease.49%，Became the company’s first loss since its listing in 2010，The company began to receive repeated letters of concern from the Shenzhen Stock Exchange。

Facing the current situation of losses，Tempus 188bet confesses，The company’s liquidity is tight in 2019，The tourism business and air ticket agency business encountered greater operating difficulties，There is a subsidiary out of control、Related transactions、Situations involving a lot of litigation。“Business difficulties” did not stay in 2019。April 2020，Tempower 188bet announced，Subsidiary Xiyou 188bet Travel has become “out of control”。At that time，Speculations about Tempus 188bet’s “infighting” in the industry are springing up like mushrooms after a rain。Beijing Business Daily reporter noticed，“Out of Control” Shi Jin, Chairman of Xiyou 188bet Travel Service，has also served as the operating manager of Tempus Travel, a subsidiary that was bankrupted and liquidated, for the past three years。Although the 2020 financial report has not yet been officially announced，But according to the performance forecast disclosed by Tempus 188bet，It is expected that the company’s loss will reach 9 last year.3-12.0.9 billion yuan。

More importantly，Except countdown of subsidiary bankruptcy list，January 25 this year，Tempower 188bet announced，The company received the court hearing notice，Filing for bankruptcy liquidation。Subsequently，The company submitted a letter of objection to the court，And stated that it is communicating with creditors。Actually，As early as April last year，Tempower 188bet was once filed for bankruptcy liquidation by creditors。The industry had a view at that time，Former "leader" in the industry，One foot has already entered the quagmire of bankruptcy。

What are the chances of winning through 188bet

Suffering huge losses and heavy debt burden，Temperature 188bet has "surprisingly" begun to expand new business sectors。According to announcement，Temperature 188bet may lose about 1.2 billion yuan in 2020，Still said they are ready to invest 1.35 yuan to enter the live broadcast、E-commerce and related business matters。In the opinion of Lai Yang, executive vice president of Beijing Business Economics Association，Live streaming as the third stage of e-commerce development，It is the upgrading and reform of the industry。With the continuous expansion of user groups，There is indeed a lot of room for development。But he also pointed out，Live streaming e-commerce is not an industry without thresholds，In this "red ocean" of fierce competition，Not every business can achieve profitability。

Lai Yang’s analysis pointed out，The core of live broadcast competitiveness is whether the platform can generate large traffic to attract sufficient consumers。The key to driving consumers to place orders，It is the price-performance ratio of the product。“To be a live broadcast e-commerce，Enterprises need to have a complete product supply chain and corresponding resource occupancy capabilities。At the same time, companies need to have a certain amount of experience，It also requires a large capital investment in the early stage。Meet these conditions，It is very difficult for ‘newbie companies’。" He further stated，“Based on the current situation，Tempower 188bet can try to use its overseas resources to increase cross-border e-commerce，But we also need to build our own platform or cooperate with a third party、Problems such as supply chain。Moreover, Tempus 188bet is compared with large domestic tourism platforms，There is a certain gap in both its own traffic and fixed customer base，The prospects for new cross-border fields are hard to say optimistic”。

Wu Liyun, associate professor at the Institute of Chinese Culture and Tourism, Beijing 188bet Studies University, said，Tempower 188bet started with ticket agency business。But with the continuous development of tourism，Whether it is the competitiveness of air ticket agency resources，The overall industry profit rate is still much lower than before。She further stated，Tempower 188bet’s shortage of funds、Internal conflicts and other internal conflicts also consume a lot of oneself，Superimposed impact of the epidemic，It is difficult to say when the outbound tourism business will resume，If travel companies that mainly engage in the above-mentioned businesses do not transform in time，It is only a matter of time before we are eliminated from the industry。

“Although Tempus 188bet invested heavily to enter the live streaming e-commerce industry，But currently there is less and less room for new entrants in this industry，And the advantages of tourism companies doing live streaming are not obvious。Although many travel companies are actively testing this field during the epidemic，But most of them do not regard it as their main project。Unless Tempus 188bet can achieve greater breakthroughs and innovations in its business model，Otherwise, it is hard to say whether the company can change its destiny through this desperate attempt。"Wu Liyun said。

*188betTextSource: Beijing 188bet Daily，Author: Jiang Mengwei、Yang Hui，Original title: "Subsidiary bankruptcy liquidation countdown、Spending a lot of money to enter the Red Sea of ​​live streaming and selling goods, Tengbang 188bet is looking for a way out》.