Where Will The Silent Jumei.Com Go?

At the end of 2016,

Finally announced the first half of 2016 earnings.

But this is a disappointing report card.

According to the world clothing and shoe net, in the first half of last year, while jumei.com's revenue growth was weak, its net profit fell by nearly 30%.

As cosmetics

Once the leader of the industry, faced with such a financial report, jumei.com chose silence, without any explanation.

Industry analysts also said they would no longer pay attention to the company.

What is the matter with jumei.com? Where is jumei.com going in silence?

Ups and downs

In the first half of 2016, jumei.com's net profit was 141 million 200 thousand yuan, down 29.8% compared to the same period last year.

In December 23rd, jumei.com released the first half of 2016.

In the first half of this year, jumei.com's net revenue was 3 billion 500 million yuan, an increase of 1.7% over the same period last year, and net profit of 141 million 200 thousand yuan, down 29.8% compared with the same period last year.

In the electricity industry, where the major electricity providers still maintain high growth and the average industry growth is nearly 30%, the performance of poly America can be pretty ugly.

The only thing to be comforted is that jumei.com is still making money.

For the first half of this year's sharp decline in performance, jumei.com executives did not explain, the reporter also related questions to try to contact jumei.com's public relations director and company CEO Chen Ou himself, did not get a reply.

Since its launch in 2010, jumei.com has experienced roller coaster ups and downs in just a few years.

Listing in the US in April 2014 made jumei.com jump to the peak of development.

As the first vertical beauty make-up business in the US, jumei.com, like a dazzling star, has been sought after by the capital market. It opened at $27.25 higher than the previous issue price of 24%, and closed at $24.18.

Since then, its share price has climbed all the way, reaching the highest value of $39.45 in August 18th.

However, with the ups and downs of jumei.com's performance, from the third quarter of 2014, jumei.com's share price began to enter a long slide.

From jumei.com's performance report, we can see that in the third quarter of 2014, the company's revenue growth dropped to 28% from 41.9% in the previous quarter, and this figure dropped to 18.5% in the fourth quarter.

Correspondingly, the fourth quarter of the company's platform trading volume for the first time appeared a negative growth of -3%.

The great changes in performance are related to changes in jumei.com's business strategy.

The 2014 year's fake wave brought a great negative impact on jumei.com, and also promoted the pformation of the company.

Jumei.com has said that the company began to pform its cosmetic products from the third party platform to the self market since the third quarter of 2014. After that, jumei.com had 30% cosmetic products on the third party platform, and the migration was basically completed as of the fourth quarter of 2014.

In fact, the pformation of business mode has really got the effect, which has helped to restore user confidence and bring about rapid growth in revenue.

By the first quarter of 2015, jumei.com's battalion had recorded a significant increase of 61.8%, and the second and third quarter of 2015 increased by 99.5% and 99.9% respectively.

However, self employment has also led to a substantial increase in costs and expenditures.

Figures show that in the fourth quarter of 2014, the company's operating expenditure and performance expenditure were negative growth year-on-year, while the marketing expenditure increased by 20.8% over the same period. In the third quarter of 2015, three expenditures grew by 100% over the same period, which was higher than that of the same period. The performance expenditure increased to 185.3% over the same period last year.

Jumei.com's net profit growth slowed sharply in the third quarter of 2015.

At the same time, the company's gross margin has also been declining.

Jumei.com's gross profit margin in the first half of 2016 was lower than market expectations, only 26.17%, much lower than the same period last year.

And its net interest rate is 4.47% lower than the same industry average.

At the same time, jumei.com also faces enormous external challenges: on the one hand, the demographic dividend of the electricity supplier is gradually disappearing, and the whole industry is facing the crisis of new traffic exhaustion; on the other hand, the whole industry is facing a crisis of new traffic exhaustion.

Tmall, Jingdong and other powerful e-commerce providers continue to exert their strength in the cosmetics industry. NetEase, koala, Beibei and other new cross-border electricity providers also come in to grab food and chips. Jumei.com's advantages are becoming less and less competitive.

A young 90 generation consumer told reporters that she had not been to jumei.com for a long time.

Industry observers believe that although the number of active users of jumei.com in the first half of 2016 has increased from 6 million 800 thousand passengers in the second quarter of 2015 to 9 million 800 thousand passengers, the current performance can not reflect the effectiveness of these active users.

A big possibility is that the increment of jumei.com's active users from mobile terminals is not obvious.

Jumei.com's active users account for 0.56% of the APP active users list in November 2016, according to the third party agency AI media advisory. It ranks 285th in January 2016, ranking 0.47% in January 2016.

Jumei.com, the mobile APP TOP500 in December 2015, released by another third party agency, the think-tank, was not listed.

With the ups and downs of performance, jumei.com's share price has been on the decline since its peak in August 2014.

In January 6, 2017, jumei.com's shares closed at $4.74, with a total market value of US $692 million, compared with the highest point of US $39.45 and the market value of US $5 billion 500 million, its share price dropped by nearly 90%, and the market value was only left by the peak hour.

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Bad stability was abandoned.

Jumei.com's series of turmoil last year accelerated its share price decline and caused it to be abandoned by the capital market.

"We have no longer seen this company."

An industry analyst who once studied jumei.com told reporters that they had removed jumei.com from the research list because the company was too uncertain and could not see any obvious advantages in operation. According to their standards, it was not worth seeing again.

In addition to its business performance, a series of upheavals in jumei.com last year also accelerated the decline in its share price and caused it to be abandoned by the capital market.

In February 17, 2016, jumei.com announced its privatization and the privatization price was $7.

When the news came out, investors were in an uproar.

Some investors have dismantled the name of jumei.com, calling it "no products".

Because the price of privatization is too low relative to the issuing price of $22 at the beginning of the listing, which means that jumei.com's listing in less than two years has made a 69% loss for investors.

Moreover, at that time, the stock price remained at over $7 for most of the past two years in jumei.com.

More than a month later, the privatization crisis has not subsided. Jumei.com's two joint CFO Gao Meng and Zheng Yunsheng have resigned for "personal reasons".

The two CFO were graduated from Stanford University. They were alumni of Chen ou and the core management of the company. Their simultaneous resignation was interpreted as "losing confidence in the privatization process of the company".

While investors are strongly rebounding, the domestic capital market situation has also undergone great changes. The policy level has also undergone great changes in the conditions of A share listing after the privatization of stocks.

Therefore, whether jumei.com can smoothly privatize and smoothly landing A shares is still unknown.

At the beginning of last year, jumei.com also announced that it would enter into the film and television culture industry, and plan to create a "fashion entertainment + electricity supplier" mode to strengthen marketing.

However, professionals in the industry are not optimistic about this move.

Experts believe that marketing is only a temporary solution. How to supplement the short board of supply chain and logistics core competitiveness is the direction that jumei.com should focus on.

Recently, the famous American financial website The Street's rating agency The Street Ratings issued a research report, according to jumei.com's next 12 months investment period of return forecast, its stock rating to D level "sell" level.

The Street Ratings believes that the pfer of jumei.com to D level "sell" level is determined by some outstanding problems, which will make it difficult for investors to get better returns from this stock.

The problem of the enterprise can be observed from many aspects, such as its earnings per share, its deteriorating net income, bad gross margin and its poor performance in the stock market.

TheStreetRatings's research report pointed out that for the next year, the market generally expected that jumei.com will have a 52% decline.

Jumei.com did not respond to questions about the market and journalists. How should we interpret this silence? What changes will jumei.com make in the new year?

More interesting reports, please pay attention to the world clothing shoes and hats net.