Fuanna Launched The Dealer'S Shareholding Scheme And "Bundled" With Dealers' Interests.

According to the world clothing shoes and hats net, middle and high-end

The company is planning to "bind" the interests of the company and its core distributors closer together.

The company recently received a letter of intent from some distributors.

Some distributors are willing to sign management agreements with relevant professional management organizations to acquire fuanna shares in a legal way.

The details and the feasibility of the shareholding plan will be further discussed.

But fuanna said that the distributor's shareholding plan will be based on two points. First, the total number of shares held will not exceed 5% of the total share capital of the company; second, the total number of shares corresponding to the equity interests of each dealer will not exceed 1% of the total share capital of the company.

An analyst who asked not to be named told reporters that the plan could stimulate the enthusiasm of the main dealers, which might be related to Fuan's desire to further improve its performance and recover money quickly.

In the past few years, the home textile industry has been stagnant.

The sales revenue of the four home textile enterprises including fuanna, Luo Lai, mercury, home textiles and Meng Jie shares declined in varying degrees during the 2013-2016 years.

The net profit growth of fuanna dropped from over 20% to less than 10% at the end of last year.

During the double eleven sale, fuanna's sales volume was 164 million yuan, after the upcoming mercury home textiles and life.

The income of the latter two eleven sales periods was 187 million yuan and 208 million yuan respectively.

A salesperson in the home textile industry said: "fuanna's price performance is slightly worse than that of other families.

The fabric of Luo Lai and Meng Jie is better, some customers recognize it more expensive, and the overall price of mercury home textiles is lower.

Fuanna's products are embarrassing and the price is not low. In the first two years, they often fall into the quality gate.

In fact, fuanna has been trying to boost its performance by increasing marketing efforts.

The first "big move" is to increase revenue by increasing credit to distributors, which also led to a sharp surge in Book receivables at the end of 2016.

Public financial information shows that Fuyuan's accounts receivable at the end of 2016 was 313 million yuan, an increase of more than 60% over the same period last year, an increase of more than 125% compared with the end of the three quarter of 2016.

The sudden recognition of accounts receivable is likely to cause financial adjustment.

According to the financial data, fuanna's revenue and net profit in the fourth quarter of 2016 were almost 2 times that of the other three single quarters, and its performance fluctuated greatly.

Fuanna received the inquiry letter from the Shenzhen Stock Exchange.

In response to the surge in accounts receivable, fuanna's disclosure was mainly due to changes in the sales structure.

The change of sales structure refers to the targeted expansion of franchise credit policy, including the rational planning of marketing cycle, the establishment of band marketing credit, the guidance of customers to make big achievements, the establishment of customer classification, the selective relaxation of credit restrictions, and extension of the credit period.

An industry analyst analysis said that because the franchisee fund is not very abundant, so through the way of credit, "borrow goods" to the dealer, although the amount of money has not arrived, but the goods have been sold to the dealer.

Sales will grow.

If the franchisee's predetermined sales targets have been reached, then profits can be made in the preferential activities, otherwise the goods will form the franchisee's stock, making the day of the franchisees more difficult.

Fuanna's second "trick" is to increase a large number of marketing costs.

According to Fuan's financial report, in the first three quarters of 2017, a total of 4.74 billion was spent on marketing, management and other expenses. The total cost accounted for more than 30% of marketing revenue, which was close to the highest point in 2008.

However, this is not enough for fuanna to rebound.

In the first three quarters of this year, the sales revenue of fuanna increased by 14%, and Rose's life grew by nearly 50% over the same period last year. The growth of the other home textile enterprise Meng Jie shares was over 50%.

Facing the coming season of home textile industry, fuanna thought of third "big strokes", that is, to launch the dealer shareholding plan.

The analyst, who does not want to be named, said: "if a dealer's shareholding plan is formed and bundled with fuanna's interests more closely, the dealer's shareholding will definitely play a stimulating role, and terminal sales can also be smoother, and the execution of the company policy will be stronger.

The company's performance should be further improved. "

However, fuanna's dealer shareholding scheme has been questioned by some professionals.

A senior financial analyst said in an interview with reporters that Fuan could do nothing to boost sales through this action, but investors should be on guard against possible benefits behind it.

Because Fu's distributor is not a subsidiary of a listed company, it does not disclose specific financial data in the financial statements.

However, it is hard for investors to know exactly whether the goods that the dealer has bought from fuanna are really sold out.

The financial source also further added that, because of the existence of equity interest binding, if the dealer did not really sell the goods, the dealer might eventually hand over the money to fuanna.

The popular point is that Fu has confirmed all the revenue in the report, which is equivalent to placing her inventory in these larger dealers or dealer customers.

Such a result may have the potential of overdraft future income, and objectively may cause investors to have illusions about fuanna's profits.

Some of the listed companies in automobiles, heavy machinery and other industries have been questioned in the past.

Reporters repeatedly called Fu Anna company, no one answered.

The financial analysts suggested that fuanna could increase the disclosure of the core financial data of dealers so as to effectively dispel the doubts of investors.

Since November, the price of fuanna has been swinging around 10 yuan, and its total market value is now 8 billion 840 million yuan.

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