Hai Lan'S Home For The First Time To Join The Company'S Commitment To Protect The Bottom Of Suspected Fund-Raising

When p issued the prospectus in 2012, there was a media report that joining the Hai Lan home required 2 million of the cost, of which 1 million was used as a deposit to the home of Hai Lan, and the other 1 million yuan was used to pay rent, decoration, manpower and start-up funds of the store.

In addition, if the franchisee pays 60 thousand yuan management fee a year, the company will make sure that the pre tax profit is 1 million yuan in the 5 year business period.

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< p > reporters confirmed the above statement from a franchisee yesterday.

The franchisee said.

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< p > first, such commitments have been interpreted by market participants as "quasi financial" models.

"The following franchisees are more likely to enter as investors, regardless of the operation of stores."

A target= "_blank" href= "//www.sjfzxm.com/" > shoes < /a > the independent commentator of clothing industry Ma Gang said.

According to the above statement, when the franchisee invested 1 million yuan for decoration and other expenses, the profit of 1 million yuan before the bottom tax can be guaranteed in 5 years, which is equivalent to the annual yield of 20%, and the annual annualized rate of return is 14% after the removal of 60 thousand yuan management fee.

And the franchisee told reporters that even if 14% of the pre tax annualized yield will be deducted for various reasons by Hai Lan's home, "the highest if we get 600 thousand is pretty good."

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< p > Hai Lan's house believes that the company has created a different business model.

Whether the franchisee has the experience of < a target= "_blank" href= "//www.sjfzxm.com/" > clothing > /a > industry has no requirement. Franchisees do not have to participate in the specific operation of franchised stores. The internal management of all stores can entrust the company with overall responsibility.

But once there is a problem in the capital chain of Hai Lan's home, the chamber of commerce is facing huge risks.

Shao Ligang, general manager of Wuxi nine faction consulting and Management Co., Ltd. believes that the statement of bottom income is not reasonable. The practice of Hai Lan's home is more like a fund-raising behavior.

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Chen Guang, lawyer of the Bank of China law firm, said that profits can not be guaranteed, nor is law permitted. < a href= "http:// www.sjfzxm.com/news/index_c.asp" > Hai Lan home "/a" is suspected of improper publicity. P

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< p > secondly, whether it is in the prospectus or in the draft of the reorganization, it does not show that once the franchisee loses money, the family of Hai Lan will need to pay a portion of the money.

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< p > in fact, according to the above franchisee's understanding, nearly half of its franchisees have suffered losses, but this claim has not been confirmed.

Because Hai Lan's home and franchisees usually sign a franchise contract of 5 years, so according to the figures disclosed by the company, in 2010, 2011 and 2012, there were 424 new stores, 634 houses and 512 new stores.

Even if it is conservative in accordance with the 10% "a href=" //www.sjfzxm.com/news/ "> /a" loss "and the loss of a single store by 300 thousand yuan, if the above guarantee is established, Hai Lan's home should pay 12 million 600 thousand yuan, 18 million 900 thousand yuan and 15 million 300 thousand yuan respectively in 2015, 2016 and 2017.

According to the above 50% franchisees' loss calculation, the amount of payment should be close to 100 million yuan.

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< p > but even for the amount of money that should be covered in 2013, no announcement was made in the draft reorganization.

Even if we did not calculate the loss of new stores in 2008 and 2009, the redistribution report released in 2013 should also reflect the three years' loss from 2010 to the present, the losses from 2011 to two years, and the losses in the year to date.

According to the above data, the losses in the three periods were 37 million 800 thousand yuan, 37 million 800 thousand yuan, and 15 million 300 thousand yuan respectively, with a total loss of 90 million 900 thousand yuan.

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< p > the problem is that this part of the debt that may not be charged or lost is also entered into the reorganization plan by the "valuations", and profits increase accordingly.

The chain reaction is: the profit is too high - the valuation is too high - under the condition of the issuing price, there are many shares issued.

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