On Saturday, He Wanted To Join Hands With Hui Jie For 1 Billion, Making 60 Million, But The Details Did Not Talk About "Yellow".

February 14th is the "Valentine's Day" in the west, but for Limited by Share Ltd on Saturday, it seems that this day is not too romantic. Today evening, Saturday announced the termination of cooperation with Shenzhen Hui Jie group Limited by Share Ltd.

On Saturday, it said that since the two sides failed to reach agreement on specific cooperation details, the two sides agreed to terminate the strategic cooperation framework agreement through friendly consultation. The two sides no longer fulfill the strategic cooperation framework agreement and do not bear the responsibility for breach of contract.

On Saturday, it said that as of February 14th, the company had not yet invested funds and no other formal operation on the project had been carried out. The termination of the strategic cooperation framework agreement would not have any impact on the company's financial position and operating results.

The reporter previously reported that on Saturday, the strategic cooperation framework agreement was signed with Hui Jie shares in July 17, 2018.

The two sides will adhere to the basic principle of "mutual help and sharing", and intend to carry out deep integration in brand, channel and customer resources, so as to further enhance the market influence of both sides.

The main contents of the strategic cooperation framework agreement are: the two sides jointly set up a item company specializing in the development and design of footwear products, brand promotion and product sales.

Saturday held 49%, Hui Jie shares held 51%, item company first registered capital of 100 million yuan, both sides are cash in investment, item company is expected to two years of operating capital size of about 1 billion yuan.

Development goal: strive to register item company in 2018; strive to complete the pfer of operating assets such as brand, channel, inventory and so on in two years; strive to achieve 2020, item company's main business income is not less than 350 million yuan, net profit is not less than 20 million yuan; until 2022, the main business income of item company is not less than 600 million yuan, and net profit is no less than 60 million yuan.

At that time, Hui Jie shares said that it would support the business expansion attempt on the new retail channel and related fashion industry platform on Saturday. It will give full cooperation and assistance in terms of capital and management. In addition, in order to achieve the goal of cooperation, the company can provide short-term liquidity support with a total scale of not more than 300 million yuan during the pition period, and under the premise of legal compliance, the two sides can further consolidate and strengthen strategic cooperation between the two sides through "cross shareholding".

Public information shows that Saturday's main business is the production and sale of fashionable leather shoes, and wholesale and retail diversified fashion products.

With ST&SAT, Diffs, SAFIYA, Sophia, SATURDAYMODE and FONDBERYL, Febe Lil is one of the leading enterprises in the field of underwear consumption segmentation in China. Its customers are mainly targeted at female consumers, and the target group is highly overlapped with Limited by Share Ltd on Saturday, D:FUSE.

At the same time, it is also highly similar to Limited by Share Ltd on Saturday in terms of brand promotion mode, sales channel structure and coping with the pressure of retail market pformation.

As a major move to further expand business category and enhance brand influence, as a result of the strategic cooperation between Limited by Share Ltd and Limited by Share Ltd on Saturday, it helps to rapidly promote the company's coverage from the main business to footwear products, enrich the category structure of the company's products, and expand the scale of the main business revenue.

According to the insiders, in the context of the current downturn in the retail industry, both sides performed very well on both Saturday and Hui Jie shares, especially in the recent two years, which were trapped in the downturn of the retail industry and the continued downturn in the women's shoes industry. Saturday, as the leader of the leading enterprises, had been greatly affected.

Take 2017 as an example, the company achieved a total operating income of 1 billion 504 million yuan, up 1.30% compared to the same period last year, but realized a net profit of -3.52 billion yuan, resulting in large losses.

On Saturday, the footwear industry explained that this was mainly due to the impairment of the value of the assets, resulting from the impairment of the goodwill, inventory and accounts receivable at the end of the reporting period.

In order to get out of the difficulties, a major asset restructuring plan was issued on August 13, 2018. It intends to issue 89.4% of the shares of the 18 shareholders of Xie Rudong and other 13 shareholders of natural persons and Hangzhou honeycomb and other 18 institutional shareholders, such as Hangzhou, looking forward to Network Inc (hereinafter referred to as the Wang Wang Network), with a paction consideration of 1 billion 788 million yuan.

According to the data, the distance watch network claims that it has tens of millions of traffic resources covering WeChat, micro-blog and today's headlines and is considered to be the "traffic star" in the new media field.

Reporters noted that on Saturday, February 2, 2019, the company's major asset restructuring plan was approved by the China Securities Regulatory Commission.