According to the “Progress Announcement on the Implementation of the Company’s Reorganization Plan” issued by Guirenniao on June 5, the company has entered the implementation stage of the “Reorganization Plan” and will carry out relevant liquidation work as soon as possible to ensure the smooth implementation of the “Reorganization Plan”, etc. .
Tianyancha App shows that Guirenniao Co., Ltd. was established in July 2004 and has the legal representative The person is Lin Tianfu, with a registered capital of approximately 630 million yuan. Its business scope includes the production, research and development, wholesale and retail of shoes and clothing. Information on the top ten shareholders shows that Guireniao Group (Hong Kong) Co., Ltd. holds 66.20% of the shares and is the largest shareholder.
It is worth noting that the company currently has a lot of risk information, has been enforced many times, restricted high consumption, etc., and has had two bankruptcy and reorganization cases.
Public information shows that if the company does not or cannot implement the reorganization plan, the company will be declared bankrupt and will face the risk of being terminated from listing.
The revenue of 3.2 billion in 2017 is the peak of Guirenniao. However, the return on investment did not meet Guirenniao’s expectations, and the wholly-owned holding model also increased Guirenniao’s burden. In 2018, Guirenniao suffered a loss for the first time, amounting to 686 million yuan, and its revenue also dropped to 2.8 billion. Guireniao, who realized the problem, finally began to stop his losses and recover. According to media reports, Guirenniao first transferred shares in companies such as Hupu and Kangpaisi to make money, and then closed nearly 3,000 franchise stores.
Although Guirenniao began to stop losses and regain blood, the situation did not seem to be improving. The financial report released by Guireniao shows that Guireniao’s losses in fiscal year 2019 and 2020 were 1.096 billion yuan and 379 million yuan respectively. As of March 11, 2021, Guireniao’s market value has increased from more than 40 billion at its peak to less than 1.5 billion yuan now, while Anta’s market value has exceeded 280 billion yuan.
Due to tight liquidity, Guirenniao’s billions of yuan in loans from various banks have also become overdue. Guirenniao’s 2020 interim report shows that Guireniao’s current assets total 3.563 billion, liabilities are 3.404 billion, and the asset-liability ratio is as high as 94.67%. Currently, Guirenniao has been filed for bankruptcy and reorganization by creditors twice, and founder Lin Tianfu has also received five court summonses due to Guirenniao and was restricted from spending too much.
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