After Tongce medical treatment, the chairman of mattress leader dream Lily (603313. SH) also fell in love with people on the snowball, and his words were very fierce. Since February last year, dream Lily's share price has fallen endlessly, from 37.21 yuan / share to 10.57 yuan / share now. The share price has fallen by 70% and the market value has evaporated by nearly 13 billion yuan. As a result, some shareholders of the company could not sit still and began to make roast in the snowball.
On May 16, a shareholder posted on the snowball that the reason for the sharp decline of dream Lily's share price was that it took one small target from the listed company through Hengkang CNC every year, and reduced its holdings of five small targets in block trading. In fact, it doesn't matter whether to reduce its holdings of original shares or not, and forgot to pledge several small targets.
The netizen's remarks may have poked the pain point of the company. Ni Zhanggen, chairman of dream lily, was furious when he saw it and replied to the netizen, how dark is your heart to have such an idea? Are you too self righteous to think that the supervision does not review connected transactions? Perhaps it was "deep love", and Ni Zhanggen even scolded.
In response to the market public opinion caused by the "war of words" between the chairman and shareholders, mengbaihe issued an announcement on May 24 to disclose the information of related party transactions between the company and Hengkang CNC and its explanation of equity changes. At present, the company and its subsidiaries mainly purchase sponge cutting machine, foam exhauster, three-dimensional sponge storage rack and other equipment and [accessories] from Hengkang CNC( https://microsoft.pvxt.net/Xx07X ) , as well as relevant maintenance and equipment installation and upgrading services. Up to now, there have been 5 related party transactions between dream Lily and its subsidiaries and Hengkang CNC.
In fact, behind the fact that the chairman of dream Lily "came down to earth" personally tore with the shareholders, it is the company's after all. Indeed, there are some crises.
In 2003, Ni Zhanggen founded Hengkang home, and successfully landed in a shares in October 2016. Two months after listing, it was renamed "dream Lily". At present, dream lily is mainly engaged in the R & D, production and sales of household products committed to improving human deep sleep - memory cotton mattresses, memory cotton pillows, sofas, electric beds and other household products.
Perhaps Chinese people prefer hard mattresses. Contrary to other mattress brands, dream Lily's revenue is still dominated by foreign markets. According to the annual report of 2021, the overseas revenue of dream lily is 6.727 billion yuan, accounting for 82.65%; The domestic revenue was 1.185 billion yuan, accounting for 1.185 billion yuan.
As the largest market is overseas, dream lily has many potential worries. In 2021, when the revenue of dream Lily increased by 24.64%, the net profit of the company rarely decreased by 172.78%, and even suffered its first loss since listing, which was - 276 million yuan. In this regard, dream Lily explained that in 2021, the operation of the global industrial chain and supply chain was blocked, high freight rates, suspension of flights, port hopping and other phenomena continued, the prices of bulk commodity raw materials rose sharply, and the global epidemic fluctuated repeatedly.
However, in the case of poor profits, dream Lily still does not forget to expand vigorously. At present, the company has established multiple production bases in Serbia, the United States, Thailand and Spain to promote its global production capacity layout. Meanwhile, in 2021, the number of offline stores of dream Lily in China also exceeded 1000.
Rapid expansion has also led to a sharp increase in the company's debt. Dream Lily's fixed assets not only increased from 462 million yuan in 2016 to 2.396 billion yuan in 2021, but the company's short-term borrowings soared from 40 million yuan to 1.834 billion yuan. In addition, the asset liability ratio of dream lily has increased year by year, from 16.24% in 2016 to 67.45% in 2021.