Zhou Dasheng, who is rich, is now in debt? 80.44 million bank funds have been frozen!

On December 27, Zhou Dasheng suddenly announced that some of the company's bank accounts under his name had been frozen recently, and after contacting the company and relevant departments, the company's bank accounts were frozen because of a contract dispute with Shenzhen Shuibeka Information Technology Co., Ltd. (hereinafter referred to as "Shuibeka") Company, which led to the other party applying to the court to apply for property preservation.

Regarding the dispute between the two parties, Zhou Dasheng said that the company explained the matters involved, and the company was confident that it would win the lawsuit.

The market is actually very concerned about whether the case can be won, after all, Zhou Dasheng's turmoil has been continuous over the years, especially when it comes to false publicity, fictitious weight leading to punishment by the regulatory authorities, etc.

01

In 2023 alone, there will be 600 new stores, but 385 stores will be closed.

The company's performance also hit a record high in the first three quarters, with the company's revenue in the first three quarters reaching about 12.5 billion yuan, a year-on-year increase of nearly 40%, and the net profit attributable to shareholders of listed companies (hereinafter referred to as "net profit") reaching nearly 1.1 billion yuan, a year-on-year increase of more than 17%.

However, Zhou Dasheng, who is so rich, is now in debt? As a result, the company's bank accounts are frozen, what is the reason for both parties?

According to Zhou Dasheng's announcement, on December 25, the company has received relevant documents such as civil complaints and summons for the above cases, with a total amount of about 211 million yuan, and the actual frozen funds are about 80.4483 million yuan, and the frozen funds only account for 1.33% of the company's latest audited net assets, and account for 4.64% of the company's latest audited monetary funds.

It stands to reason that the company accounts for this amount of money, but there is no shortage of money, why is there any money owed?

The dispute between the two parties in Chow Tai Sheng's statement is that in 2022, the two parties intend to cooperate with Shui Becca and China Unicom Shenzhen Branch to promote the "Chow Tai Sang Beka" package business, and this business, in the middle of 2022, was terminated in the preparatory stage due to customer reasons, and the other party also had a dispute with Chow Tai Sang because of this business.

According to Zhou Dasheng, the litigation amount of 211 million yuan is a litigation claim put forward by Shuibeika, not a contractual agreement. Moreover, according to the current situation, Shuibeka Company lacks factual and legal basis, so the company is determined to win the lawsuit.

In recent years, it is not the first time that Zhou Dasheng has been in trouble in business, and he has even been warned and even fined by the regulatory authorities for false publicity and fictitious original prices, such as in July 2022, the Shenzhen regulatory authorities warned and fined 200,000 yuan for the company's fictitious original price. In September, he was once again fined 460,000 yuan by the Shanghai Hongkou District Market Supervision and Administration Bureau for violating the Anti-Unfair Competition Law because of false or misleading commercial promotions. The company, Shanghai Zhenghuan Network, signed a cooperation agreement with Shenzhen Internet, a wholly-owned subsidiary of Chow Tai Sang, to be responsible for the e-commerce business of Chow Tai Sheng's jewelry.

02

There are many mistakes in the business, but the company's operating performance is still rising.

In the first nine months of this year, the company had a net opening of 215 stores, and as of the end of the third quarter, the company's total number of stores was 4,831, including 4,521 franchised stores, 310 self-operated stores, and 1,532 first- and second-tier stores, accounting for 31.71%.

In terms of performance, the company's revenue and net profit in the first three quarters were 12.494 billion yuan and 1.095 billion yuan respectively, a year-on-year increase of 39.81% and 17.69%, while the company's non-net profit reached 1.054 billion yuan, a year-on-year increase of 21.20%. The performance growth is strong, and even the revenue in the first three quarters has exceeded the annual revenue of the previous year, and the net profit and non-net profit have far exceeded that of last year.

However, the company's revenue rate is much higher than that of net profit, and there is a trend of increasing revenue but not increasing profits. Especially in the third quarter, the company's revenue was 4.420 billion yuan, a year-on-year increase of 15.15%, and the net profit was 355 million yuan, a year-on-year increase of 2.86%. Net profit is about to fall into a trend of no growth.

The company's performance in recent years has been relatively profitable, from 38.05 billion yuan in 2017 to 11.108 billion yuan in 2022, basically except for the decline in performance in 2020, the remaining years are all year-on-year growth. The company's net profit also rose continuously, from 592 million yuan to 1.091 billion yuan, of which, from 2017 to 2021, the net profit continued to grow, only in 2022, the company's net profit decreased by 10.94% year-on-year.

The company's profitability has been strong for many years, and the cumulative net profit after listing is as high as 7.240 billion yuan, and the profitability is strong, so the dividends are more generous, and now the company has a total dividend amount of 3.509 billion yuan from 2017 to 2022. The dividends of 3.5 billion yuan, of which the biggest profit winner is Zhou Zongwen's family of three, and Zhou Zongwen's family, which occupies 63.20% of the shares, has a cumulative dividend of 2.218 billion yuan.

Although the company's performance development is good, the company's development still needs to satisfy consumers.