On October 30, (hereinafter referred to as "Red Dragonfly") issued an announcement that the "redeemed"The Agricultural Bank of China Yongzhou Yongjia Erbei Sub -branch Huilifeng Huilifeng 2024 Issue 5753 on Public Custom RMB Structural Deposit Products ", with a redemption amount of 48 million yuan, and obtained the income of about 58,000 yuan.
Since its listing in 2015, there are many announcements for the "use of raising funds to buy wealth management products" issued by the Red Dragonfly, and it has the characteristics of large investment amount and high security.Most of the wealth management products purchased by the Red Dragonfly are the type of capital preservation income.
As an old -fashioned shoe company, the Red Dragonfly has been brilliant. During the peak, the number of stores exceeded 4,300, and the monthly income exceeded 200 million.The dilemma.Financial management seems to have become the "legs" of the development of red dragonflies with the selling shoes, supporting the companys movement.
Transaction financial assets expand to 148 million
The announcement issued by the Dragonfly, the earliest part of the content of the "use of raising funds to buy wealth management products" appeared on August 18, 2015.On this day, the Red Dragonfly issued two consecutive announcements. One content was as a sponsor agency.It will invest in capital -keeping wealth management products with 400 million idle funds.
From October 2015 to January 2016, the Red Dragonfly released 6 contents as "Implementation of the Implementation of Funding Funding Fund".The investment amount of the purchase of wealth management products ranges from 150 million yuan to 100 million yuan, ranging from 80 million yuan and 70 million yuan.Two days after the corresponding date, the Red Dragonfly issued redemption and income announcements in accordance with regulations.
In the next few years, almost every year in the announcement of the red dragonfly published, "Opinions of buying wealth management products", "Implementation of Purchasing Wealth Management Products", "Recycling principal and benefits"These three types of announcements.Because most of them are principal -guaranteed wealth management products, although individual investment has a slight loss, it has made positive financial contributions to the company.
It is worth noting that from 2015 to 2018, the Red Dragonfly did not list this positive contribution alone in the financial report. Since 2019, "trading financial assets"In this column, data began to appear.
2019年至2023年，这一数据金额分别为9.23亿元、10.22亿元、9.24亿元、3.51亿元、RMB 31 million.The corresponding fair value changes are -2.94 million yuan, -68 million yuan, 46.59 million yuan, 23.9 million yuan, and 34.26 million yuan, respectively.
In the first half of 2024, the fair value change of red dragonflies was 160,000 yuan; transaction financial assets expanded to 148 million yuan, which is 371.93 from 31.42 million yuan at the end of the previous year.%.
The participation of listed companies participating in securities investment has become the norm in the industry. On the one hand, by purchasing wealth management products, funds have generated more benefits.This method can make idle funds more effective, thereby bringing more financial income to listed companies; on the other hand, listed companies can flexibly choose the investment period, yield and risk according to their own operating conditions and market environment.Levels are different from different wealth management products to achieve the best fund allocation effect.This flexibility allows the company to better cope with market changes and improve the efficiency of funds.
At present, the operation of Red Dragonfly in the capital market is still stable, but the risks and opportunities behind them coexist, and there are greater uncertainty.
The performance declines
But slowly unsatisfactory.
Data show that in the first three quarters of 2024, the company realized operating income of 1.669 billion yuan, a year -on -year decrease of 10.71%; net profit of returning to mother was 12.498 million yuan;Yuan; the net cash flow generated by operating activities was -36.869 million yuan, which was 213 million yuan in the same period last year.
This is also the second loss since the launch of the Red Dragon Fly.In this regard, the company said that the abnormalities of financial data in the third quarter were mainly due to the decline in income, which led to a significant decrease in net profit.The net cash flow generated by business activities is negative, mainly due to the reduction of customer funds.
As the representatives of the old -fashioned shoe companies, Red Dragonfly, Belle, Aokang, Daphne, Bao Xiyu, etc. At one time, they were big shoe brands in peoples eyes.In the era of malls, their stalls and containers are always overcrowded.However, with the changes in the aesthetic preferences of the times and people, and more and more tide brands and designer brands have impacted the domestic shoe market, these old brands have gradually faded from the eyes of consumers.
According to statistics from the China Leather Association, from 2015 to 2020, the output of Chinese leather shoes manufacturing companies shows a significant fluctuation decline. It is expected that by 2026, the domestic leather shoes industry outputIt may be reduced to 1.7 billion pairs.
The sales data of various important products of Red Dragonfly also declined from the industry to enterprises.In the first half of 2024, the main business revenue of Red Dragonfly was 7.32%compared with the previous year; the main business income of leather goods decreased by 10.97%compared with the previous year; the main business revenue of childrens products decreased by 26.27%compared with the previous year.
It is worth noting that from 2018 to 2022, the red dragonfly performance is in a continuous decline, especially the performance in 2018 is almost cut.EssenceCorrespondingly, the two years when the performance began to decline, it was also when the "trading financial assets" data of the Red Dragonfly began to disclose.
It can be said that no matter how the industry and the market change, the Red Dragonfly always leaves "one leg walking".
Where is the fundraising fund?
In the development process, the red dragonflies have two raised funds for investment projects.
In 2015, Red Dragonfly invested 974 million yuan for the construction of marketing channels and information systems; in June 2020, the investment progress of the two fundraising projects was only 10.94%and 65.71%;On June 30, 2020, the Red Dragonfly terminated all fundraising projects.
In this regard, Red Dragonfly said that the starting fund -raising project is mainly to open a direct -operated independent store to seize the offline market.Since the companys listing, consumption habits have shifted from an offline front. At the same time, the cost of stores has continued to increase, and some business districts have declined, and the operating environment is gone.If the original fundraising project is implemented in accordance with the original plan, there is a greater risk, which is not conducive to ensuring the companys operating benefits and protecting investors rights.
In March 2022, the Red Dragonfly was 656 million yuan for permanent supplementation of mobile funds.At the same time, three projects were invested in the upgrading of the new format of the shopping mall, the expansion of the Yongjia base, and the intelligent upgrade, the digital transformation and upgrading, and the intelligent manufacturing, with a total of 334 million yuan.As of the end of 2023, the implementation progress of these three new projects was 15.37%, 51.18%, and 18.33%, respectively.
The outside world is full of suspicion about the fundraising project of the Red Dragonfly. It is believed that the first termination of the project except for its official statement.Investment stores are not as good as investing in financial management.The current fundraising project may be abolished as the first one.
