Enjoy the low tide of the bicycle industry because * * * Shanghai Phoenix 20 18 halved its revenue and profit in the first half of the year.
According to the announcement, in 20 17, after Shanghai Phoenix Bicycle, a subsidiary of Shanghai Phoenix Holdings, signed the Bicycle Purchase Framework Agreement with Dongxia Datong (bike-sharing subsidiary of ofo), Phoenix Bicycle signed several purchase contracts with Dongxia Datong. After verification by both parties, as of the date of prosecution, Dongxia Datong still owes Phoenix RMB 6,865,438+05,438+04,38+00,000.
According to the purchase contract, Dongxia Datong's default in payment and expenses is a serious breach of contract. To this end, Shanghai Phoenix Bicycle recently filed a lawsuit with the Beijing No.1 Intermediate People's Court. It is required to order ofo bike-sharing to pay Shanghai Phoenix Bicycle 6815.10000 yuan, and the overdue payment loss 1865200 yuan.
The 20 18 semi-annual report released by Shanghai Phoenix shows that the revenue during the reporting period was 353 million yuan, down 55.72% year-on-year; The net profit attributable to shareholders of listed companies was 19 1 13500 yuan, down 55.44% year-on-year.
Shanghai Phoenix said that at present, * * * bicycle orders continue to decrease, overlapping countries de-leverage and de-capacity, resulting in overall overcapacity in the industry; The improvement of domestic environmental protection requirements and the rise of raw materials and labor costs have further compressed the profit space of enterprises; Constant international trade disputes and increased exchange rate fluctuations have also increased the business risks of enterprises.
Previously, Shanghai Phoenix hoped that the cooperation with ofo bike-sharing could "further enhance the brand awareness and market influence of the company in the bicycle industry, improve the company's capacity utilization efficiency and business performance, and have a certain positive effect on the company's development." Now that a year has passed, former partners may go to court.
Ofo bike-sharing's future is uncertain
In May this year, Shanghai Phoenix announced that the holding subsidiary Shanghai Phoenix Bicycle Co., Ltd. and Dongxia Datong signed a strategic cooperation agreement in May 20 17 to carry out strategic cooperation in Phoenix brand promotion, bicycle and parts manufacturing and technology research and development. As of May this year, Phoenix Bicycle has provided 1, 866, 1, 600 bicycles to Dongxia Datong and its affiliated companies, achieving sales income of 637 million yuan.
As for the main reasons for the unexpected strategic cooperation, Shanghai Phoenix said that due to the supervision of government departments and the impact of the actual delivery of bicycles on the demand for bicycles, Dongxia Datong reduced the actual purchase quantity.
* * * No longer enjoy the scenery of the bicycle industry. After an industry reshuffle on 20 17, mobike "sold" himself to Meituan, and the future of ofo bike-sharing was uncertain. In June this year, Caixin Weekly reported that the financial data of ofo as of mid-May provided by a person familiar with the financial situation of ofo showed that ofo owed about 65.438+0.2 billion yuan to suppliers and nearly 300 million yuan to urban operation and maintenance, with a total debt of 65.438+0.5 billion yuan and a deposit balance of about 3.5 billion yuan. Available cash on the books is less than 500 million yuan.
It is an indisputable fact that bike-sharing is short of funds, and the overseas market is less than expected. Ofo began the survival action of open source and throttling. Cancellation of exemption registration, online body advertisement, information flow products.
Recently, the news that "the negotiation between ofo and Didi may be coming to an end, and the two sides are conducting final negotiations on the price issue" is endless. Yu Xin, co-founder of ofo bike-sharing, has repeatedly denied this, calling it "something that doesn't exist".
In August, the media learned that ofo and Didi had many contacts on the acquisition. According to informed sources, the purchase price is still further reduced. "The purchase price is also around $654.38+05 billion." Many media also reported this news.
Nowadays, Didi Chuxing, a potential acquirer, is also in constant trouble, and even when it will take over ofo bike-sharing is unknown.