#FMCG Eight Talks##Consumption##特步#
Xtep acquires the interest in the Saucony joint venture and 40% of the intellectual property rights of Saucony in China
On December 18, a reporter from Beijing Business Daily learned that Xtep acquired the equity held by Saucony's joint venture company for $61 million (about 434 million yuan), and at the same time acquired 40% of Saucony's ownership interest in China, which means that Xtep will have a greater say in Saucony's Chinese market. According to the announcement, Xtep entered into an agreement with Wolverine World Wide, Inc. ("Wolverine" and its subsidiaries, the "Wolverine Group") to acquire the interests held by the Wolverine Group in the 2019 joint venture, and from then on, the joint venture will become a wholly-owned subsidiary of Xtep. At the same time, Xtep's wholly-owned subsidiary, XMS Sports Co. Limited ("XMS Sports"), will acquire a 40% interest in Saucony Asia IP Holdco, which holds the intellectual property rights of the Saucony brand in Chinese mainland, Hong Kong and Macau. In addition, XMS Sports will receive a further subscription to acquire a 35% or 60% ownership interest in Saucony Asia IP Holdco in the event of a global sale or a change of control of Wolverine. The acquisition will be fully paid for in Xtep's internal cash and the transaction will close on or before January 1, 2024. Upon completion of the transaction, Xtep will significantly strengthen Xtep's control over the sales, marketing, distribution and product innovation of Saucony and Merler in China.
Snacks are very busy, and I want you to invest 700 million yuan, and Yanjin Shop Holdings invests 350 million yuan
On the evening of December 18, I want you to announce that in order to further optimize the omni-channel operation system, give full play to business synergy capabilities, fully promote the company's hyperbolic development, and lead the company's rapid development through product innovation and channel empowerment, the company plans to increase its business layout in the snack channel. The company plans to invest a total of 700 million yuan with its wholly-owned subsidiaries to increase the capital of Hunan Snack Busy Commercial Chain Co., Ltd., and after the completion of the capital increase, the company and its wholly-owned subsidiaries hold a total of 6.64% equity of Snack Busy. It is understood that on December 18, I miss you, Hunan Yanjin Shop Holdings Co., Ltd., the controlling shareholder of Yanjin Shop, Snacks is busy, and Zhao Yiming Snacks Quartet jointly signed a strategic cooperation investment agreement in Changsha, Hunan, and Yanjin Shop Holdings invested 350 million yuan to invest in Snacks and obtained 3.3175% equity of Snacks. The snack is very busy, and the group has received a total investment of 1.05 billion yuan.
Zero sucrose baking brand "Hesuo" completed tens of millions of yuan in Pre-A round of financing
On December 20, the zero-sucrose baking brand "Hesuo" announced that it had recently completed tens of millions of yuan in Pre-A round of financing, which was exclusively invested by Linge Venture Capital. This round of financing will be used to accelerate store expansion, product research and development, and organizational upgrades. According to the data, Hesuo was established in 2021 and focuses on low-sugar, zero-sucrose bakery products. In October last year, Hesuo received an angel round of financing of 10 million yuan from Naixue's tea subsidiary, "Beautiful Own Power".
Akuan Food terminated its IPO on the main board of the Shenzhen Stock Exchange
On December 20, a reporter from Beijing Business Daily learned from the official website of the Shenzhen Stock Exchange that on the evening of December 19, the Shenzhen Stock Exchange announced the decision to terminate the initial public offering of shares of Sichuan Baijia Akuan Food Industry Co., Ltd. (hereinafter referred to as "Akuan Food") and listing on the main board. According to the announcement, the Shenzhen Stock Exchange accepted the application documents for the initial public offering of shares and listing on the main board of Akuan Food in accordance with the law on March 1, 2023, and reviewed it in accordance with the regulations. On December 7, 2023, Akuan Food submitted the "Application of Sichuan Baijia Akuan Food Industry Co., Ltd. on Withdrawing the Application Documents for Initial Public Offering of Shares and Listing on the Main Board" to the Shenzhen Stock Exchange, and the sponsor submitted the "Application of GF Securities Co., Ltd. for Withdrawing the Application Documents for the Initial Public Offering of Shares and Listing on the Main Board of Sichuan Baijia Akuan Food Industry Co., Ltd." to the Shenzhen Stock Exchange. In accordance with the relevant provisions of Article 62 of the Rules for the Review of Stock Issuance and Listing on the Shenzhen Stock Exchange, the Shenzhen Stock Exchange decided to terminate the review of the initial public offering of shares and listing on the main board of Akuan Food.
Under Armour was fined for selling substandard down jackets
On December 20, a reporter from Beijing Business Daily learned from the official website of the National Enterprise Credit Information Publicity System that Under Armour's brand affiliate Ande Arong Trading (Shanghai) Co., Ltd. was fined more than 300,000 yuan and confiscated more than 70,000 yuan of illegal gains by the Shanghai Huangpu District Market Supervision and Administration Bureau for "producing and selling substandard products as qualified products". According to the cause of the punishment, the party ordered 1,113 pieces of men's down clothing from Under Armour B.V. in three batches. After testing, the quality of some products in the third batch was unqualified. A total of 305 substandard products were involved, of which 296 had been sold. The purchase price of the products involved in the case was 597.76 yuan per piece, the tag price was 1,999 yuan per piece, and the actual sales price was between 805.28 yuan and 1,499 yuan, with a total sales amount of more than 270,000 yuan and a profit of more than 70,000 yuan.
Nike reported revenue of $13.4 billion in the second quarter of fiscal 2024
On December 22, Nike released its performance report for the second quarter of fiscal year 2024, showing that Nike achieved revenue of $13.4 billion in the quarter, a year-on-year increase of 1%, of which Nike's self-operated business revenue was $5.7 billion, a year-on-year increase of 6%, and Nike's brand digital business revenue increased by 4% year-on-year. Meanwhile, gross margin rose 170 basis points to 44.6% and inventories fell 14%. Nike's revenue in Greater China was US$1.863 billion, an increase of 8% year-on-year on the basis of constant exchange rates, achieving positive growth for five consecutive quarters. John Donahoe, President and Chief Executive Officer of Nike, Inc., said, "Our second-quarter results demonstrate how we have been able to grow steadily in key areas of innovation and growth. The quarter showcased our team's strong execution as we focused on innovative products, unique brand stories, and differentiated in-market experiences. ”
Quanyangquan received a government subsidy of 53.56 million yuan
On December 22, Quanyangquan announced that according to the document of the Jilin Provincial Department of Finance "Notice on Issuing the 2023 Central Forestry and Grassland Ecological Protection and Restoration Fund (Second Batch) Budget" (Ji Cai Zi Huan Zhi [2023] No. 965), it received 53.56 million yuan of financial discount funds, accounting for 93.72% of the company's latest audited net profit.
Yiming Food won the land use right
On December 22, Yiming Food announced that it had recently participated in the land listing auction in accordance with the legal procedures, and finally won the state-owned construction land use right of A-01-03 plot in Shagang Village, Kunyang Town, Pingyang County, Wenzhou City, with a land area of 102436 square meters. Yiming Food said that the auction of land use rights is intended to be used for the construction of the company's ecological health valley project, and the investment plan has been reviewed at the 19th meeting of the company's fifth board of directors and approved by the second extraordinary general meeting of shareholders in 2020, which is in line with the company's strategic development plan, but the above projects are long-term and uncertain, and the project planning and implementation process may face risks caused by uncertain factors such as macro policy regulation, market changes, and operation and management.
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Image source: Xtep official website, Akuan Food official website, Nike official website
Edited by Topol