Caesar's travels are full of twists and turns
During the first few years, the development momentum of the trip has been quite good. Especially in the 4 years of 2014-2017 years, tourism revenue and net profit have maintained a relatively large growth rate, with an average annual growth rate of 127.46% and an average annual growth rate of net profit of 57.61%. But since 2018, the growth of tourism has begun to slow down or even grow negatively. For example, in 2018, the growth rate of business income was only 1.67%, with an increment of about 35 million yuan; net profit was the first decline in nearly five years, with a decline of 12.03%.
A month after the listing of the backdoor market, the travel agency asked the Shenzhen Stock Exchange to plan a major asset reorganization. However, after six months suspension, the first major asset acquisition plan after the listing of tourism was aborted.
Its original plan is to buy the company (hereinafter referred to as "Capital Airlines"). It intends to purchase the underlying assets by issuing shares and paying cash. Among them, Capital Airlines holdings, Capital Airlines and Kaiser tourism belong to HNA Group. According to the follow-up data of the disclosure, as of the first half of 2016, the capital aviation total assets were 29 billion 536 million yuan and net assets were 4 billion 632 million yuan. In the first half of 2016, business income was 4.679 billion yuan and net profit was 10.7 billion yuan. Obviously, the size of Capital Airlines has already exceeded the volume of tourism.
As a well versed capital operation principle, the failure of a reorganization plan can not prevent its subsequent capital operation. In September 30, 2016, Kaiser tourism announced that its wholly owned subsidiary, Kaiser, was investing in RMB 148 million 590 thousand yuan through equity purchase plus capital increase to invest in Zhejiang daily business trip. Among them, Kaiser shared 91 million 440 thousand yuan to buy Ningbo daily business travel, holding 48% stake in Zhejiang daily business travel, and then 57 million 150 thousand yuan to increase capital Zhejiang daily business trip. After the completion of the transaction, the company will hold 60% stake in the daily business and become the controlling shareholder of the company.
However, in August 13, 2018, the company filed a lawsuit against the third intermediate people's Court of the city, requesting the company to buy a 60% day business travel equity with 61 million 722 thousand yuan, and the daily business trip and the China trade group jointly paid 44 million 577 thousand yuan to the company's failure to fulfill the provisions of the agreement, and the total amount of litigation was about 106 million yuan. The matter finally reached a settlement after more than 4 months in the early January 2019, and Kaiser and Ningbo daily travel, and the settlement amount was reduced from 106 million yuan to 56 million 578 thousand and 500 yuan.
In addition, on the same day when the tourism industry issued the capital raising and purchasing business, B will be the 550 million largest investor in the world. After the completion of the investment, tourism will become the second largest shareholder of the gold producer and 7.94% stake in Yi Sheng gold clothing. This round of capital increase not only improves the industrial structure layout, but also seeks for new profit growth space.
On the whole, several capital operation incidents of the company were not very smooth. The merger and acquisition of the capital airport aborted, causing the overall layout to abort. Then, the gamble acquisition of the daily business trip was also the result of the failure of the other enterprises, and the layout failed in the court. At last, there was no good news for the investment of Yi Sheng gold clothing, so it was also difficult for the future.