Arrears of merchants for several months, want to value up to 2 billion US dollars or repay when listed
Editor’s note: This article is from WeChat public account “Three Words of Finance” (ID: sycaijing), the author’s harvest.
The so-called “sinking upstart” collection has made almost all businesses on the platform disappointed.
The data shows that the Amoy collection was founded in August 2018. It is the main platform for the purchase of e-commerce in the sinking market. It is similar to the fight, and it has only just been one year since.
In August of this year, some merchants said that Amoy collected a notice to the merchants that they would reject all withdrawal requests after July 10. And it has been three months since then, the payment has not yet arrived, and waiting seems to have no end.
After that, more than two hundred merchants have been defending their rights in Shanghai. Until October 1st, the collection of Amoy was released, saying that there were unidentified personnel who impersonated the collection of unspoken words on the Internet and taught the merchants to gather troubles.
But in the next few days, a large number of merchantsGathered in the office of the Amoy collection in Shanghai, and even those who have been owed money want to jump off the building.
On October 12, Amoy Collection announced that it is restructuring its business with a large domestic institution and has recently become a critical moment for financing. According to Amoy Collection, most merchants expressed their understanding and are willing to continue to cooperate with the new platform formed after the merger.
At the same time, the Amoy collection also negotiated with the merchants to sign an agreement. Although the agreement promised to repay the debt, the uncertainty contained in it made the merchant quite questionable.
Are is no retreat agreement:Reimbursement of partial debts after reorganization,80% remaining after listing
But in this agreement, the merchants apparently have few retreats.
The agreement clearly states that its own funds have been unable to repay the current debt. After the successful reorganization, 20% of the purchase price will be returned to the merchant within one month of receiving the purchase price. The remaining debt will not be repaid to the merchant until the restructuring reaches $2 billion or listing.
In this “Debt Restructuring Agreement”, Party A is “Shanghai Huan Beast Industrial Co., Ltd.” and the legal representative is Zhang Zhengping. Party B is the supplier.
According to the National Enterprise Credit Information Publicity System, Shanghai Huanwu Industry Co., Ltd. was established on May 31, 2017 with a registered capital of 1 million RMB. The registration authority is Jing’an District Market Supervision Bureau. Its legal representative is Zhang Zhengping. . andAmoy Jiji is an e-commerce platform owned by Shanghai Huan Beast Industrial Co., Ltd.
In the previous section of the agreement, there are three agreements, as follows:
1. Party A (ie Shanghai Huan Beast Industrial Co., Ltd.) has been unable to repay its current debts. In line with the attitude of actively recovering losses for merchants and other partners, Party A will sell the company’s assets to a large group company. The establishment of a new operating platform, and the two sides have in-depth negotiations to acquire the assets of Party A’s collection platform, and all proceeds from the sale of assets will be used to repay the current arrears.
2. Both Party A and Party B confirm that Party B agrees to restructure the debts owed by Party A.
3. Party A intends to complete the debt performance of Party B by means of asset disposal and other means to revitalize the existing assets of the platform, and continue to maintain long-term cooperation with Party B.
The most important thing in the text that follows is the “Payment Method”. This article specifically describes the way and time point of the collection of repayments. But it is also one of the most difficult choices for businesses.
The payment method states that “Party A shall pay 20% of the amount of the debt to Party B (ie, supplier, merchant) within one month after receiving the purchase price paid by a large group company.”This part only accounts for A small part, the important thing is the other 80%.
The subsequent clauses stated that “the amount of the remaining debt owed by Party A to Party B is still paid by Party A. Since Party A does not have the ability to pay, Party A and Party B agree that the remaining debt is postponed until Party A and a large group. When the company’s restructured target company is valued at US$2 billion or listed, the company’s representative representative Zhang Zhengping and his senior management team share the platform to hold the target company (establishing a new operating platform) equity pledge loan or Transfer the equity cashout method to repay the remaining debt of Party B.”
No matter whether the Amoy collection can successfully complete the restructuring, the single estimate of the $2 billion and listing conditions will make many businesses unrecognized. For merchants, you may face the embarrassing situation of “no money, no money, no money”.
It is understood that this incident involves all Amoy collection platform merchants. The amount owed is also from tens of thousands to tens of millions, and most businesses have to be forced to remove goods.
According to media reports, the relevant person in charge of the Amoy collection said: “Before capital injection, whether from the perspective of risk control or other aspects, capital must be hoping to comfort the three parties in advance, clear the debts, and then invest capital. Some merchants said that the employer has certain requirements for the number of signings for the Amoy collection, but the specific number does not give the specific number.
In addition to the uncertainty of subsequent repayment of arrears, the other is a large domestic institution referred to in the Amoy collection announcement. The Amoy collection has not given an answer.
According to Fenghuang.com’s report, for the acquisition of the collection, there is a lot of work, and Alibaba said that it has no connection with the Taoji platform and will not respond.
Why is the Amoy Set going to the “selling body” step
The collection that was founded in 2018 is catching up with the wave of social shopping.
Public information shows that Shanghai Huanwu Industry Co., Ltd., which belongs to Amoy Collection, was established in 2017 with a registered capital of RMB 1 million.
The collection is very similar to the fight, and it is also the main social e-commerce. In the early stage of the brand, the merchants are exempted from subsidies and subsidized to the consumers.
The report released by Analysys think tank shows that during the “618” period this year, the number of live collections increased by 8.4%, and the proportion of users in third-tier cities reached 33.63%. The Amoy collection also previously claimed that the platform users exceeded 100 million, and hundreds of thousands of merchants settled.
For the e-commerce platform, rapid growth is also prone to various problems. In the early stage, relying on subsidies and platform dividends, there may be a large number of businesses and users entering, but if you do not grasp the rhythm, you can not achieve a balance in capital flow and expenditure, you may fall into a crisis.
For the Amoy collection, the business arrears may come from poor financing, no continuous cash flow, and the direct arrears of the business.
In the event of a capital outage, the e-commerce platform will have a vicious circle. First of all, this will drive away some of the merchants and enter the competitor’s camp.
Secondly, the social e-commerce platform that originally went down the sink market faced many problems. Low-priced products often imply product quality problems, and services were sometimes unsatisfactory. Once the platform funds are cut off, the subsidy will shrink or even disappear first. At this time, the low price advantage will cease to exist. If the merchant is unable to pay back, there will be a situation where the merchant does not ship or refund, and the user will lose a lot.
The current social e-commerce platform mostly has no healthy ecology: it can be subsidized with the money of the merchants, or it is harsh on the business, or the development is too radical, and the merchants, distributors and consumers lack the adsorption.
The new social e-commerce platforms that have emerged in recent years are mostly awkward, and there are not many mergers and acquisitions.
Under the crisis of capital flow, Amoy collected a road to be acquired, but the results are not known.
So, after the fight and many of Ali said that they have nothing to do with the Amoy collection, who will be the final receiver of the Amoy collection?