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2014 or the top three of the cool this time may really want to music as a child abandoned

via:博客园     time:2017/7/23 19:00:52     readed:621

Once the scenery of the cool, is precarious.

July 15, Yi Fangda Fund Management Co., Ltd. (hereinafter referred to as "easy to Fonda") issued a notice, and with the fund custodian consensus, since July 14, 2021, easy to square up to its securities investment fund held by the cool Group (002369.HK, hereinafter referred to as "cool" ralph lauren pas cher, "according to 0.11 Hong Kong dollars / share valuation. Cool from March 31, 2017 closing price of 0.72 Hong Kong dollars / share suspension so far, easy to square up to cool the stock price valuation cut 0.61 Hong Kong dollars / share, down as high as 85%.

Prior to this, Hong Kong's Hang Seng Index Company has removed Cool from the Hang Seng Global Composite Index, the Hang Seng Composite Small Cap Index and the Hang Seng Hong Kong Share Index from 11 July 2017. On the same day, the Shenzhen Stock Exchange will also cool from the Shenzhen-Hong Kong stock list transferred out.

"China Business" reporter combed that in 2012, 2013, 2014, Cool was once the fastest growing one of China's mobile phone manufacturers, the overall market share of about 10%, ranked third in the Chinese market; during the period, Cool's revenue from 14.3 billion Hong Kong dollars to 19.6 billion Hong Kong dollars, 24.9 billion Hong Kong dollars; but by 2015, Cool mobile phone market share began to decline all the way out of the top ten, cool 2015 and 2016 revenue scale Also quickly fell to HK $ 14.6 billion, HK $ 7.9 billion, and there was HK $ 2.3 billion in profit attributable to shareholders in 2015 and HK $ 4.2 billion in 2016.

Since the beginning of 2017, Cool's earnings have been delayed, and the 2016 annual report, which should have been released at the end of March 2017, was released until June 2017. According to the first quarter of 2017 earnings, Cool three months before the loss of about 460 million Hong Kong dollars, the first half of the loss is expected to expand to 600 million to 800 million Hong Kong dollars, compared with 160 million Hong Kong dollars last year.

Major shareholders involved Cool

An industry insiders told reporters that "Jia Yue Ting even their own care, which care on the cool side of this mess? At present, by Jay Yuting final control of the music holding holding Cool 28.87% stake, as the largest shareholder; by the founder of Guo Deying final control of the two companies, holding a total of 9.24% shares Cool, the second largest shareholder.

A financial institution on the music as the tone of the report shows that as of the end of 2016, the entire music as a loss of 9.73 billion yuan, of which the mobile phone business loss of 5.66 billion yuan, is the largest source of losses. But also because "for the music as the mobile phone business to undertake personal joint guarantee to bring property preservation" Jia Yue Ting holding music shares were frozen. In this context, as the mobile phone is already difficult to protect their own, July 11, 2017 in the music as the mall even appeared "out of stock" situation, hope that the music as a cool hand to help is clearly impossible.

Music Watch July 4 announcement revealed that Jia Yue Ting held by music 26.27% stake in the shares, 99% have been frozen by the law. Which led to a series of domino effect and July 6, Jia Yue Ting announced the resignation of music as chairman of a series of posts, completely from the music Watch stealth, in the music as the holding only retains the identity of the executive director; July 8, Yi Fangda is also the first three institutions to reduce the valuation of music stocks, there are more than 20 institutions to adjust the valuation of music stocks, that its share price should be about three percent discount.

Then there is July 14, easy to square up directly to the cool stock price valuation cut off 85%. In fact the most miserable is Cool. Informed sources, for the mobile phone business, Jia Yue Ting has been the beginning of this year, the idea of ​​the sale of the main hope to sell its mobile phone brand Cool to obtain funds to make up for the mobile phone as the gap, but suffer from not find the appropriate access disk.

The media also disclosed that the postponement of the 2016 annual report, part-time cool chairman Jia Yue-ting in the documents submitted to the HKEx said that Cool need more time to provide annual auditors asked the information, the information related to the company arranged more Pen prepayments and / or the reasons for the loan and the commercial substance "and so on. And these money among the core issue, may be the original music and cool some of the funds can not be checked on.

As of June 28, 2015 to 3.508 yuan / share from the hands of Guo Deying bought 780 million shares of cool shares, accounting for 17.9% of the total share capital, music as the second largest shareholder of Cool, the total consideration of 2.73 billion Hong Kong dollars. Almost a year later on June 17, 2016, music as once again to 1.9 Hong Kong dollars / share from the hands of Guo Deying let cool about 11% of the shares, the total consideration of 1.047 billion Hong Kong dollars, becoming Cool the largest shareholder.

Guo Deying through the two transactions with music as cash 37.77 billion Hong Kong dollars. Therefore, to see Cool today, there are people in the industry told reporters that this is actually a Guo Deying see bad, cash out of the story.

Cool future, the communications industry observers Xiang Ligang that, in front of only two roads, one is closed down, one is to sell. & Rdquo;

Founder between the advance and retreat

The industry insiders revealed that as early as the odd tiger 360 negotiations before the establishment of odd cool brand, Guo Deying had sprouted, asked Qihu 360 founder Zhou Hongyi will hold cool plans, but Zhou Hongyi just want to get cool in technology and production capacity Support, so the two sides in December 2014 to set up a joint venture company odd cool technology, to create a new mobile phone brand & mdash; odd cool, at the same time, Cool's "big god" brand is also odd cool technology-based, and & ldquo ; Odd cool & rdquo; brand co-operation.

And in the process of Guo Deying find Ya Yue Ting as cool "and then" in the process of chi chan, odd tiger 360, cool, music also staged a "triangular dispute" and "ralph lauren pas cher.

Initially, Qihoo 360 invested 400 million US dollars in the odd cool technology accounted for 45%; later, the first half of 2015, Qihoo 360 and capital increase of 45 million US dollars, the proportion of shares increased to 49.5%. But in June 2015, Zhou Hongyi found that music and cool hook hook ride, as Cool's second largest shareholder. Qihoo 360 on this as an excuse to require Cool repurchase odd tiger 360 in the odd cool technology 49.5% stake, the price of 1.485 billion US dollars.

Because in the establishment of odd cool technology, the odd tiger 360 and cool has been agreed earlier, odd cool to do Internet phone, cool to do retail channels and operators channels, not cross each other. Cool introduced into the music, equal to support the odd tiger 360 rival, therefore, Qihoo 360 requirements to exercise the original agreement "put options" and "cool by twice the price of the market price, buy odd tiger 360 Holding the odd cool technology stake. In the end, the two sides reconciliation, Cool did not repurchase, but the odd tiger 360 holding the odd technology shares from 49.5% to 75%, Cool's shareholding ratio from 50.5% to 25%.

After the battle, the odd tiger 360 won the Cool's best brand "God" and the latest build brand "odd cool" and control, and Guo Deying in the search for "cross-chan man" on the road also more Further, in June 2016, let music as a holding in one fell swoop to become Cool's largest shareholder.

In addition, Cool in November 2014 and the channel and cool two executives (Li Bin, Zhang Guangjiang) together, claiming to invest 1 billion yuan online to build independent of the cool and "big god" and the new brand & mdash; & mdash; ivvi The But according to Cool December 2, 2016 announcement, Cool to 272 million yuan price will be 80% of the ivvi stock sold to super multi-dimensional, Cool still retain 20% of the ivvi stake. At this point, Guo Deying by reducing the cool shares, while passive to reduce the cool in the odd cool technology influence, take the initiative to reduce the cool in the ivvi control, has gradually fade out of smart phone business.

Unfortunately, in the formal part-time cool chairman of the August 16, 2016, Jia Yue Ting also boast on their own microblogging, within two years will be music as mobile phone + cool mobile phone sold 100 million units. And from Huawei's mobile phone celebrity celebrity Liu Jiangfeng, also officially served as Cool CEO on August 16, 2016 released rhetoric, Cool within five years of sales over 100 million back to the industry first. Now, in the face of reality, Jia Yue Ting and Liu Jiangfeng's rhetoric seems to be "joke" and "ralph lauren pas cher."

Missed transition window period

Guo Deying in 2014 after the gradual set off, but also by the cool growth of the decision.

Cool in the 1990s, China is the first to provide paging system manufacturers. In the 2000 years to become the Chinese market dual-mode dual standby smart phone originator. Guo Deying August 5, issued by the "Cool all the staff of a letter," said Cool led a lot of industry innovation, such as "2003 the world's first smart color CDMA 1X mobile phone, 2005, the world's first double Network dual standby mobile phone, 2007 National Science and Technology Progress Award, 2010 half year time to complete the Android platform transformation, 2012, the first LTE 4G mobile phone successfully break through the North American market and the same year the overall market share into the country the first three, 2013 Guangdong Provincial Government Quality Award and the Shenzhen Mayor Quality Award, 2014 & lsquo; pilot 4G & rsquo; market share of the first, the cumulative eight thousand inventions to create technology patents & rdquo; and so on. But these beautiful scenery in the past is not enough to stop Guo Deying and abandon ship fleeing from August 6, 2016, Jia Yue Ting officially replaced Guo Deying became cool chairman, Guo Deying only retains the honorary chairman of the identity.

Industry insiders told reporters, with the early years to sell BP machines and fixed telephones and other products with the telecom operators forged a good relationship, Cool became the first batch of telecommunications operators partners. Therefore, before and after 2008, telecom operators still launched 3G, Cool get the opportunity for telecom operators to produce a large number of 3G standard custom mobile phone, to promote telecom operators from 2G to 3G upgrade made a contribution. In the process, Cool in the country across the country operator system to establish a good distribution system, also received a high subsidy, but also for the access to the first camp to lay the foundation. & Rdquo;

The person believes that from the time point of view, Cool the most glorious period is 2012 ~ 2014, in fact it is the glory of this period, resulting in the cool after the flourishing and because of the "2012 millet has emerged, the Internet Huawei's new forces appeared, but Cool did not move; Huawei began to give up the operator channel, when the scene as cool as the OPPO, vivo also began to leave the operator system, only Cool still keep up with the operator; this time behind the millet With the glory of the Meizu, Huawei's glory, ZTE's nubia, Lenovo's music and so on a large number of Internet mobile phone brand, only Cool unmoved, only at the end of 2014 launched for the social channel ivvi brand, missed the Internet phone outlet. & Rdquo;

The person pointed out that the watershed in July 2014, the SASAC issued a clear request for telecom operators within three years to substantially reduce the sales and marketing costs of about 20%, telecom operators began to reduce the custom machine, contract machine subsidies, Back to the operator's good days ended, and this time the market pattern has changed, cool layout has been lost the initiative, has been destined to gradually decline in the fate.

International electronic business analyst Sun Changxu that the reasons for the decline of cool should be phased analysis, Guo Deying era of old cool and Liu Jiangfeng era of the new cool mistakes are not the same, "Guo Deying times Cool first launched 3G, 4G mobile phone, there are certain Influence, wrong in the long-term dependence on operators led to unfamiliar to the open market. The millet, OPPO, vivo rise of the impact of a lot of cool, in the process, Cool can not keep up with the market rhythm, the transition is not timely, also led to some problems. Liu Jiangfeng era of the most important issue is the wrong pick up the mountain, no money, seriously affected the development. & Rdquo;

There are also insiders, although the last two or three years performance is not satisfactory, but Cool still has its value, the greatest value is more than 20 years accumulated more than 10,000 patents, while building supply chain, providing production lines and other aspects of capacity Can not be ignored.

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