On the opening day of the market in 2020, the net red economic index rose more than 6%, the first national daily chemical lafangjiahua (hereinafter referred to as: lafang,) also took advantage of the east wind, the stock price rose for two consecutive days.
On January 9, the Shanghai Stock Exchange disclosed a disciplinary decision, paying regulatory attention to La Fangjiahua (603630) and its then chairman and general manager, Wu Guiqian, board secretary Zhang Chen and chief financial officer, Zhang Wei.
Specifically, it is pointed out that the use and management of raising funds is not standardized, the financial information disclosure is not accurate, and the responsible person in the performance of duties in violation of the behavior.
More importantly, the plight of the continued decline in Rafang's performance has not improved with the hot hype. According to the daily earnings report, rafangjiahua's products have become more difficult to sell in recent years, brand innovation is not enough, which will be difficult to resist the fierce competition in the daily chemical market.
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To become the first national daily chemical, the highest market value at the beginning of the listing exceeded 12 billion yuan, this is the most highlight of the 18-year-old lafang. However, as of january 9,2020, the market value of rafang is now only 100 million yuan, down about 3\/4.
In the first year of the market, mr. rafang's net revenue fell, and by 2019, the decline was more pronounced. According to Lafang's latest earnings report, in the third quarter of 2019, Lafang's operating income was 100 million yuan, but its net profit was 100 million yuan, down% from 100 million yuan in 2018, although it fell only% from 100 million yuan in 2018.
In addition to the decline in performance, Lafang's inventory turnover days and accounts receivable turnover days are also continuing to elongate. As of the end of the third quarter of 2019, Rafang's inventory turnover days had reached 271 days, and the liquidity rate had slowed significantly, according to the financial report. Accounts receivable turnover days also reached 47 days, and before the company went public, this value is only 25 days, it can be seen that the company for the promotion of longer dealer account period, resulting in the slow rate of product payback.
According to the public information, La Fangjiahua, founded in 2001, is mainly engaged in the research and development, production and marketing of washing and nursing products, skin care products and makeup products. Its own brands include \"La Fang \",\" Meidos \",\" Yu Jie\" and so on.
Among them,\" lafang \",\" medo silk \"brand is still the company's pillar brand, the first half of the revenue to achieve 100 million yuan, revenue contribution to maintain around 80% of the year. And newly-bred brands such as \"mansna \",\" coquettish hall\" and so on, rafang did not disclose the specific amount of revenue achieved, only indicated a year-on-year increase.
Although today's lafang is the leading brand in the domestic personal care products industry, the product covers a wide range, but under the attack of international giant p