Dear Bird: 647 Million Yuan Company Debt Failed To Pay On Schedule, Production And Operation Is Normal.

In December 2nd, the Limited by Share Ltd announced that, due to the tight liquidity of the company, the company failed to pay the principal and interest of the "14 noble bird" bonds on schedule. Since December 3, 2019, the "14 precious birds" corporate bonds will be suspended at the comprehensive electronic platform of Shanghai Securities Exchange's fixed income securities.

It is reported that "14 noble birds" corporate bonds issued in 2014, the total issue of RMB 800 million yuan. Up to now, the balance of the "14 noble birds" company bonds is 647 million yuan, the bond interest rate is 7%, and will expire in December 3, 2019.

In a company notice, the company pointed out that the company's production and operation activities are normal. The company is further exploring and improving the payment and reconciliation plan for this issue, and strives to reach a settlement agreement with creditors as soon as possible.

In the announcement, the noble bird also proposed a debt reconciliation program with creditors, including:

1, continue to maintain the stability of production and operation. The company maintains the existing production and operation by adjusting the business mode and increasing revenue and expenditure. Through optimizing the sales mode, it promotes terminal sales, increases the cash flow of the company, and controls the cost of the company and reduces all kinds of expenses. Through continuous production and operation activities, the company obtains part of the debt paying fund.

2, continue to promote the disposal of some assets of the company. It includes equity investment funds held by the company, part of the subsidiaries' equity and some fixed assets.

3, actively cooperate with the trustee to do well the creditor's communication and coordination work. The company will continue to actively cooperate with the trustee to do well in the creditor's communication work, fully understand the creditors' ideas and demands, consult with the relevant creditors as soon as possible, and strive to reach an agreement on the debt solution, solve the debt problem together, and push the company back to the track of healthy and continuous development.

Founded in 1987, you are a comprehensive enterprise that integrates research and development, production and marketing of sports shoes, clothing and accessory products. And from the layout of its retail terminal, the main consumer groups are concentrated in the three or four line cities, but in recent years, the performance of expensive birds has continued to decline.

According to the annual report of 2018, the brand marketing network of the "noble bird" has a total of 2873 layout as of December 31, 2018. Among them, there are 399 retail outlets in the first tier cities, 657 in the second tier cities, 1246 in the three line cities, and 571 in four line cities. In addition, surging journalists have noticed that since the two quarter of last year, there has been a decline in continuous revenue and net profit, resulting in a year-on-year decrease of 13.52% in 2018, a total of 2 billion 812 million yuan, a decrease of 536.01% in net profit and a total loss of 686 million yuan in the same period last year.

At present, there are risks of controlling shareholders' equity pledge, freezing and auction.

In August this year, the "bird bird" notice said that because of the dispute over the loan contract, the 324 million 852 thousand and 300 shares of the precious bird stock held by the noble bird group were frozen, and the freezing period was from August 1, 2019 to July 31, 2022. The number of birds and birds held by the noble bird group has been frozen to 426 million 547 thousand and 300 shares, accounting for 67.86% of the total share capital of the precious birds.