In April 20th, group toy (002575, SZ) issued the 2017 annual report, for a business with a dismal main business, a net loss of about 20000000 yuan a year is not surprising, but the whole second half of the year, the companys main business income is not. You did not see the wrong thing, 6 months, the revenue is zero! It is such a company, in the past four years, has done hand travel, nuclear power, new energy power battery, also sold the shell, but all failed. The toy store of Qun Qun Xing (every reporter Ouyang Kai photo) Staff reduction nearly 95%, half a years revenue of zero Before the Spring Festival, the daily economic news spent the first quarter in the most embarrassing listed companies: 900 million of total assets and 455 employees, with zero income. It has been reported in the article that in 2017, the net profit of Qun Xing toy fell into a loss for the first time, and its operating income in the third quarter was zero. Unexpectedly, when Qun Xing toys released the 2017 annual report in April 20th, it was found that the companys revenue in the fourth quarter was still zero. That is to say, in the second half of 2017, the company did not make any money. 2017 financial newspaper Since the third quarterly report does not disclose the number of employees, the companys 2016 earnings report showed that the number of employees was 455. Therefore, 455 employees have done a quarter, and the income is zero. Cause everyone to Tucao: how to write the end of these employees? But the daily economic news reporter found that in 2017, the number of toy workers in Qun Xing decreased by 429, or 94.28%. The composition of the staff is visible, the production and technical personnel of the company are completely abolished, only 3 of the sales staff are left, and the administrative personnel are also reduced greatly, only the number of financial personnel has not changed. 2016 financial newspaper 2017 financial newspaper In the annual report, the company gradually reduced and withdrew from the toy manufacturing business, which led to a significant decline in operating income, operating profit and net profit. In April 24th, Qun Xing toy held a performance exposition, the daily economic news reporter asked whether there was no main business situation, group Xing toy general manager, Dong Fang, financial director Zhu Xiaoyan denied, that the company is mainly engaged in toy channel business, there is no non main business situation. In April 2011, Guangdong Qun Xing toy Limited by Share Ltd had excellent financial data in the small and medium-sized board IPO. At that time, Qun Xing toys was one of the largest independent brand electronic and electric toy enterprises in China. In 2012, Qun Xing toy business reached its peak, at 505 million yuan, but then it continued to decline, and only 251 million yuan in 2016. And the net profit was more rapid in the year of listing, in 2011 ~2016 was 52 million yuan, 44 million yuan, 24 million yuan, 15 million yuan, 18 million yuan, 13 million yuan, until 2017, group Xing toy net profit for the first time into a loss. Behind the decline in performance is the collapse of Qun Xing toy production and sales. In 2011, there were 65 million 446 thousand and 900 toys and 32 million 543 thousand and 100 sales. In 2016, the production volume changed to 12 million 639 thousand and 200, and the sales volume decreased to 12 million 976 thousand and 200. Since 2017, Qun Xing toys has gradually reduced and withdrew from the original toy manufacturing business, and now mainly engaged in toy channel business. At the entrance of the toy hall, there is a layer of yellow sand outside the gate (every reporter Ouyang Kai photo). Qun Xing, a flagging business, has repeatedly promoted industrial transformation. Daily economic news reporter found that from July 2014 to the present, group toys have promoted four major assets restructuring, involved in hand tour, nuclear power, new energy power battery, and sell shell, but all failed in the end. The first way to get into the sight of the toys is the hand tour. In July 2014, the toys and games were expected to be used as the carrier of toys and games to excavate the synergistic effects of toys and games with 1 billion 440 million yuan to buy a 100% stake in the hand tour company star. In November of the same year, Qunxing toys were suspended for examination because of the alleged violation of the relevant parties involved in the reorganization. In June 2016, the toys were to be issued to the three continents, China Nuclear Power Institute and Huaxia life, to buy a total of 100% shares of the three continent nuclear power, with a target price of 1 billion 600 million yuan. Only two months later, Qun Xing toys announced the termination of the restructuring. The reason is that China National Nuclear Corporations nuclear power department sent a letter saying that the timing of the transaction was premature. In March 2017, Qun Xing toys intends to acquire 100% stake in space and energy by issuing shares, and cut into the field of Li ion power battery system for new energy vehicles. However, in September, Qun Xing toys announced the termination of the takeover plan. Because of the time and space energy holding shareholders time and space electric view, since the disclosure of the plan since the disclosure of the stock price continues to fall or adjust the situation, if continued to implement the original plan, the other party will be far higher than the two level market share price to obtain the company shares, the shareholders of the company are more adverse. In December 2017, Guangdong Qun Xing Investment Co., Ltd is a shareholder of Qun Xing toys controlling shareholder, Scheming Companies. In April 3, 2018, Qun Xing toys revealed that the state holding enterprises engaged in the exploitation and processing of phosphate rock are to be issued by the assignee. The assets are to be issued to the assignee. The estimated value of the underlying assets is 7 billion ~90 billion yuan, and the assignee will complete the restructure of the borrowed shell. In April 10th, Qun Xing toys issued a notice to terminate the plan to control the transfer of equity and the reorganization of major assets. The reason is that the controlling rights of the assignee and the restructure of the borrowed shell have not been approved. The toy channel business starts again Continue to look for second main industries Ji Xiaowen, the chairman of Qun Xing toy, said that in 2017, the company carried out a business strategy adjustment from the original low Maori toy production business into a high value-added toy channel business. Follow up company will make use of the toy industry marketing channel resources, experience and main business sales backbone to carry out the channel business quickly, and strive to produce the corresponding revenue in 2018 to achieve the profit. Last January, Qun Xing toy announced that it would invest 100 million yuan in Shantou Chenghai District Linghai industrial zone to set up a wholly owned subsidiary of Shantou Network Technology Co., Ltd. (hereinafter referred to as KLOE). After the establishment of the company, the company will fully promote the transformation of the companys industrial upgrading. The first step is to establish B2B+O2O through the song Le Bao. The toy channel is an e-commerce system. However, the companys 2017 annual report shows that the revenue of 2017 was zero, and its net profit was -120.69 yuan. It can be seen that the toy channel management business of group toys transformation has failed to generate revenue. After two quarters of zero revenue, in the first quarter of this year, the main business of Qun Xing toys finally got an income of 279 thousand yuan. In addition, net profit of 244 thousand and 700 yuan, an increase of 101.76% over the same period last year. In response, the company explained in 2018 a quarterly report: the main business transformation of the company, the withdrawal of toy production and sales business, and the beginning of new toy channel business. At the same time, group Hing toys also expected the first half of the performance, net profit of 2 million 600 thousand yuan to 4 million 800 thousand yuan, mainly to adjust the development strategy of the company, withdraw from the toy production business, the related cost is greatly reduced, and the income of financial investment increases. Although the toy business has improved, Qun Xing toys are still looking for the second main business. Zhu Xiaoyan said that this year, in addition to promoting the upgrading and transformation of existing toy industry, the company will actively seek clear investment opportunities and assets in various fields, such as energy, environmental protection, military industry, data, Internet, medical, education, and high-end equipment manufacturing. The opportunity to speed up the expansion of the second main business and continue to plan a major asset reorganization in accordance with the regulations and regulations, so as to enhance the profitability of the company. Source: Daily Economic News Editor: Zhao Yaping _NN9005 Although the toy business has improved, Qun Xing toys are still looking for the second main business. Zhu Xiaoyan said, This year, in addition to promoting the upgrading and transformation of existing toy industry, the company will actively seek clear business models, stable development direction, significant investment opportunities and asset acquisition opportunities in various fields, such as energy, environmental protection, military industry, data, Internet, medical, education, and high-end equipment manufacturing. Second, expand the main business and continue to plan a major asset reorganization in accordance with the regulations and regulations so as to enhance the profitability of the company.