苏宁易购重组尘埃落定，张近东还剩下多少股权？

BT财经2021-07-06

苏宁易购流动性问题和融资环境有机会迎来生机，经营情况不佳的底盘仍亟待修复。深圳国资退出、江苏国资“拉群”入场，苏宁易购（002024.SZ）的股权重组方案似乎正在走向尘埃落定的终章。 7月5日晚，苏宁易购披露了此次权益变动的公告。次日开盘，公司股价一路上涨封板，此时公司股价已经在债务风雨中飘摇阴跌近一年。零售板块得到纾困，将成“苏宁系”债务危机的转折点，还是“杯水车薪”的挣扎？收敛了扩张野心、...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

AhZhi01
2021-07-06
AhZhi01
Gd

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1122605168?lang=en_US&edition=fundamental","thumbnail":"https://static.tigerbbs.com/0d50adef78661cf7061e9c63a8cbe688","is_english":false,"pubTime":"2021-07-06 18:05","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1122605168","market":"sh","top_or_hot":-1,"title":"苏宁易购重组尘埃落定，张近东还剩下多少股权？","media":"BT财经","content":"<div>\n<p>苏宁易购流动性问题和融资环境有机会迎来生机，经营情况不佳的底盘仍亟待修复。\n深圳国资退出、江苏国资“拉群”入场，苏宁易购（002024.SZ）的股权重组方案似乎正在走向尘埃落定的终章。\n7月5日晚，苏宁易购披露了此次权益变动的公告。次日开盘，公司股价一路上涨封板，此时公司股价已经在债务风雨中飘摇阴跌近一年。\n零售板块得到纾困，将成“苏宁系”债务危机的转折点，还是“杯水车薪”的挣扎？收敛了扩张野心、...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/B5B9_p8cPgfpUYLmGjP_Qg\">Source Link</a>\n\n</div>\n","source":"lsy1588993976395","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>苏宁易购重组尘埃落定，张近东还剩下多少股权？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n苏宁易购重组尘埃落定，张近东还剩下多少股权？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 18:05 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/B5B9_p8cPgfpUYLmGjP_Qg><strong>BT财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>苏宁易购流动性问题和融资环境有机会迎来生机，经营情况不佳的底盘仍亟待修复。\n深圳国资退出、江苏国资“拉群”入场，苏宁易购（002024.SZ）的股权重组方案似乎正在走向尘埃落定的终章。\n7月5日晚，苏宁易购披露了此次权益变动的公告。次日开盘，公司股价一路上涨封板，此时公司股价已经在债务风雨中飘摇阴跌近一年。\n零售板块得到纾困，将成“苏宁系”债务危机的转折点，还是“杯水车薪”的挣扎？收敛了扩张野心、...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/B5B9_p8cPgfpUYLmGjP_Qg\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"002024","symbol_name":"ST易购","start_time":0,"source_url":"https://mp.weixin.qq.com/s/B5B9_p8cPgfpUYLmGjP_Qg","article_id":"1122605168","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/0d50adef78661cf7061e9c63a8cbe688"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1122605168","pubTimestamp":1625565918,"sourceInfo":{"source_id":"lsy1588993976395","name":"BT财经"},"weMediaInfo":null,"summary":"苏宁易购流动性问题和融资环境有机会迎来生机，经营情况不佳的底盘仍亟待修复。\n深圳国资退出、江苏国资“拉群”入场，苏宁易购（002024.SZ）的股权重组方案似乎正在走向尘埃落定的终章。\n7月5日晚，苏","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"002024":"ST易购"},"translate_title":"After the reorganization of Suning Tesco is settled, how many shares are left in Zhang Jindong?","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/3f33a74b642d34fb5bfceec8053dcdfb","symbols_score_info":{"002024":0.9},"content_text":"苏宁易购流动性问题和融资环境有机会迎来生机，经营情况不佳的底盘仍亟待修复。\n深圳国资退出、江苏国资“拉群”入场，苏宁易购（002024.SZ）的股权重组方案似乎正在走向尘埃落定的终章。\n7月5日晚，苏宁易购披露了此次权益变动的公告。次日开盘，公司股价一路上涨封板，此时公司股价已经在债务风雨中飘摇阴跌近一年。\n零售板块得到纾困，将成“苏宁系”债务危机的转折点，还是“杯水车薪”的挣扎？收敛了扩张野心、一心只想活下去的苏宁，能否如愿？\n01\n公司将进入无实际控制人状态\n公告显示，2021年6月23日新成立的江苏新新零售创新基金二期（有限合伙），将会获得苏宁易购16.96%的股权。这些股权的转让方是苏宁控股集团和苏宁电器集团，转让价格为5.59元/股，和此前停牌时的股价一致。\n江苏新新零售创新基金二期（有限合伙）的背后，是江苏省和南京市国资的牵头，聚集了华泰证券、阿里、海尔、美的、TCL、小米等企业的参与，总规模达到88.3亿元。\n除了资金外，此次股权重组也将给苏宁易购带来授信支持。公告显示，基金将支持公司应对流动性问题、稳定企业融资环境等，在江苏和南京方面的协调下，江苏省内的金融机构将“恢复苏宁易购的授信至合理水平”。\n据《中国证券报》，在股权洗牌后，张近东和其一致行动人苏宁控股仍将是苏宁易购的第一大股东，持股比例降低至20.35%，淘宝中国持股比例仍为19.99%，江苏新新零售基金二期和江苏新新零售创新基金分别持股16.96％、5.59％。\n董事会席位方面，苏宁让出两个席位，当前六名非独董事中苏宁、淘宝和新新零售基金二期各占两位。\n重组后，公司将无持股超50%的控股股东或支配公司表决权的股东，因此苏宁易购将进入无实际控制人状态。\n怎样理解“无实际控制人状态”的上市公司？\nBT财经翻阅资料发现，无实际控制人状态的公司治下，决策将更能体现全体股东、而非某个股东的利益，能够有效避免单独股东利己现象的发生，但大股东控制力不足，将影响公司决策效率，且有被拖入旷日持久的控制权争夺战的风险。\n原先火速入场的深圳国资则与苏宁易购“和平分手”，双方终止协议均不承担违约责任，并留话“继续探索物流方面的合作机会”。常年“霸榜”江苏省民企头把交椅的苏宁，如今获得了当地国资的加持。这会帮助公司焕发生机吗？\n02\n业绩底盘不稳，能否如愿新生？\n苏宁易购作为一家上市公司，在苏宁系中扮演了重要的融资角色。虽然从财务层面隔离资金在关联公司内的流动并非难事，但落到实操角度仍有不确定性，毕竟苏宁系的庞杂的债务不止分布在上市实体苏宁易购上。此次纾困入场的国资将会保全苏宁易购、还是拯救整个苏宁系，再或者落得杯水车薪的效果？当下难以定论。\n7月5日苏宁易购还预告了上半年业绩，预计期间净亏损25亿元—32亿元，较2020年同期的亏损1.67亿元巨幅扩大。据《中国证券报》，苏宁易购二季度营收预期下滑超30％，加上相对刚性的费用支出，是导致二季度亏损较大的原因。\n此前发布的一季度报告里，苏宁易购虽然扭亏为盈，但是营收同比下降，扭亏依靠资产出售，扣非后亏损超9亿元。\n\n从应对策略来看，苏宁采取了收敛火力、聚焦主业的行动。此前大手笔投资PPTV、布局快递业务、接盘商业地产、吞下万达百货和家乐福中国、入局金融等一系列扩张行为，是苏宁债务危机爆发的伏笔。2020年起，苏宁终于回头聚焦零售主业，张近东提出“该关的关、该砍的砍”，令市场期待苏宁瘦身成功、轻装上阵。\n虽然国资入股后，有对苏宁的乐观态度重燃，但归根结底仍要看苏宁能否利用这次契机提振业务、缩减支出、将现金流重新拉回到健康的轨道上。曾经靠出售阿里股权保持盈利的苏宁易购，已经多年来没有靠主业盈利，常年低迷的股价已经反映出市场信心。\n从竞争格局上来看，苏宁易购依然是家电行业不容忽视的渠道，线下份额稳固、线上份额持续扩张。不过京东、淘宝和新秀拼多多各自雄踞市场一隅，加上国美黄光裕回归、试图续写零售神话，苏宁面临激烈的竞争环境。\n正如电视剧《上海滩》续集里的镜头，大佬回归后发现江湖还是那个江湖，但早已物是人非。曾经恨之入骨的死对头已经是后院起火焦头烂额，曾经瞧不起的小兄弟却成了新霸主。大佬最后的身影，就是深吸一口烟，然后决定在这个风云变幻的时代，好好活下去。\n真正考验苏宁看家本领的绝地求生之路，才刚刚开始。","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":157369302,"gmtCreate":1625566488406,"gmtModify":1703743874313,"author":{"id":"3555667010134924","authorId":"3555667010134924","name":"AhZhi01","avatar":"https://static.tigerbbs.com/569f37556f5340b959e99ae1d34206c4","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3555667010134924","authorIdStr":"3555667010134924"},"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157369302","repostId":1122605168,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":6,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1122605168"}