This article is from WeChat official account:Yiouwang (ID: i-yiou) span>, authored by by Guo Haiwei, editor: Gu Yan, head image from: Visual China span>
The core point of this article
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The Antarctic model is a product of complex times, and the brand licensing business is more like a “tax” concept in the market;
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Antarctic’s brand and channel sales traffic advertisements are essentially monetization of the ability to match consumers and products;
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Although it is a brand, channel business is the essence of Antarctica, and to a certain extent, it is the “comparator” of the e-commerce platform.
The stocks continued to fall, and the performance was suspected of fraudulent performance. Antarctica can be described as the “first melon of the year” in the e-commerce industry.
On January 4 and 5, the share price of Antarctic e-commerce had a “weird” limit for two consecutive days. Subsequently, a report entitled “The Definition and Identification of Earnings Management and Earnings Manipulation” issued by Industrial Securities in 2019 was circulated on the Internet, pointing out many doubts about “XX e-commerce”.
Multiple analysis articles believe that “XX e-commerce” refers to the Antarctic e-commerce. The GMV growth rate is too high, the tax and the number of employees do not match the revenue growth rate, and the high degree of overlap between suppliers and distributors is suspected of “extracorporeal circulation” And so on, are their financial doubts.
On January 12, the Antarctic issued a 3,000-word announcement to clarify the matter. However, the share price of Antarctic e-commerce still dropped all the way to a minimum of 8.91 yuan, which was 6 yuan lower than last year’s highest point of 24.41 yuan.