Vera Palace Wedding Club, "Wedding Service First Share"... The wedding service company, which looks beautiful, has made a profit of 40,000 yuan in 2018 in the past 5 years since its establishment. In the past two years, it has been a continuous "0" income, so Ningbo United (600051) decided to withdraw and intend to publicly list and sell the 77.381% equity of Liangzhu Wedding Group Co., Ltd. (Liangzhu Wedding). There is still uncertainty about whether the transfer can be successful.
On the evening of November 3, Ningbo jointly announced that the company intends to sell 77.381% of the equity of Liang Zhu Wedding at an appraisal value of not less than 7.9314 million yuan of the equity it holds. Liang Zhu Wedding celebration was established in 2016 with a registered capital of 67.2 million yuan and a registered place in Ningbo. The business scope includes wedding etiquette services, corporate image planning, etc. In addition to the 77.381% joint shareholding of Ningbo, jiaxing Silicon Valley Paradise Fengwan Investment Partnership (Limited Partnership) and Suzhou Yuanchuang Weiting Enterprise Management Co., Ltd. held 16.6667% and 5.9523% of the shares respectively.
In August 2016, Ningbo United announced that it would invest in the establishment of Liang Zhu Wedding Together with Shanghai Yumai Investment and Development Co., Ltd., Fengwan Investment, Yuanchuang Weiting, etc. "In line with the rapid development of the wedding industry, give full play to the advantages of the company's Liangzhu Cultural Industrial Park's concentrated wedding format, widely integrate the core resources of the wedding industry, and build a close-knit wedding industry alliance with equity as the link." The company said at the time that this was also conducive to increasing the operating income of the company's Liangzhu Tiandi Leisure Plaza.
Among them, Shanghai Yumai Investment is the investment entity and management platform for the regional expansion of Vera Palace Wedding Club; Yuanchuang Weiting is also an equity investment and consulting management company mainly engaged in the wedding industry.
Tianyan check shows that Shanghai Yumai Investment withdrew in August 2018.
Since its inception, Liang Zhu's wedding performance has not been satisfactory. According to Ningbo Joint Disclosure, Liang Zhu's net profit from 2016 to 2020 was -4.43 million, -67.95 million yuan, 40,000 yuan, -6.74 million yuan and -4.1984 million yuan, respectively; the net profit loss in the first three quarters of this year expanded to 14.1036 million yuan. Operating income in 2020 and the first three quarters of this year is "0", and Ningbo Joint plans to divest the company.
"Considering the impact of the uncertainty of the new crown epidemic on the wedding industry and the operating status of Liangzhu Wedding Company, the overall transfer of the equity of Liangzhu Wedding Company held at this stage is conducive to controlling operational risks and is in line with the development direction of the company to further optimize the asset structure." Ningbo United said that if the above equity is sold at the listed reserve price, the transaction itself is expected to achieve a net profit attributable to the shareholders of the listed company of about -3.83 million yuan, which will not have a significant impact on the company's current earnings; at the same time, Liang Zhu Wedding Company will no longer be included in the consolidated statements, which will not have a significant impact on the company's financial position.
Although the scale of China's wedding market is trillions of yuan, the industry is scattered, and in recent years, due to the impact of the epidemic, the life of wedding companies is not good. For example, another flower-married cosmopolitan house (833503), which is listed on the New Third Board, has significantly reduced its income due to the impact of the epidemic and cannot cover the fixed expenses necessary for daily operations, with a loss of 53.1583 million yuan in 2020.
On the other hand, Ningbo United, which is mainly engaged in the three traditional main industries of real estate, thermal power and international trade, achieved operating income of 1.694 billion yuan in the first three quarters of this year, down 50.74% year-on-year; net profit attributable to shareholders of listed companies was 120 million yuan, down 65.09% year-on-year. The reason was that the sales revenue of commercial housing decreased (mainly due to the decrease in sales of commercial housing of ningbo Liangzhu Cultural Industrial Park Development Co., Ltd., a wholly-owned subsidiary of Ningbo Liangzhu Cultural Industrial Park Development Co., Ltd.), and the sluggishness of the emerging business of wedding services, so the company planned to transfer at a loss.
Source: Thoughtful
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