Zhou Dasheng Reboot IPO Was Exposed To Gold Adulteration

In 2013, Zhou Dasheng, who had received guidance from GF Securities, was forced to suspend IPO due to quality problems. In 2014, he failed to come back. Zhou Dasheng, who tested water capital market several times, issued the initial listing prospectus at the end of 2014.

Reporters in the company prospectus found that in 2013, the quality of products has been exposed, Zhou Dasheng's business revenue has not risen, thanks to the company's good operating capacity or the year's gold rush? In the face of relatively independent franchisees, how to control the quality of their products? Gold prices fell on the performance of the business, how the company responded? On the above issues, the reporter wrote to Zhou Dasheng in March 10, 2015, and the next day, the number of phone calls provided by the prospectus, but the phone no answer, and the interview letter also did not reply.

Zhou Dasheng was exposed at CCTV's "3? 15" party in 2013. Adulteration of gold The problem is that the credibility of the company has been greatly affected, but this has not been reflected in the sales revenue of that year.

Reporters refer to it. Prospectus It was found that in 2012, Zhou Dasheng realized 2 billion 90 million yuan in business income, and increased 27.7% to 2 billion 680 million yuan in 2013 compared with the same period last year. In 2013, the company had such a significant product quality incident, but its operating income did not drop, but the number of self run stores and franchised stores increased. If the data in the prospectus is true, it shows Zhou Dasheng's good crisis handling ability and sales ability.

After adulteration, CHOW Tai Seng The relevant batch products have been recalled nationwide. At the same time, in order to consolidate the brand image and influence, the company increased its efforts in the advertising of CCTV, local TV and print media, and participated in exhibitions such as the Wedding Expo and jewelry exhibitions. In 2013, Zhou Dasheng's advertising expenses amounted to 38 million 850 thousand yuan, an increase of 35% over the same period in 2012. Although the growth of advertising costs has absorbed some profits, it is also "worth the money" to partially restore the brand image after the crisis of confidence.

At the same time, the growth of business revenue also benefited from the "gold rush" in 2013. In 2013, due to the sharp fall in international gold prices, there was a gold rush in the market. Many consumers buy gold products in advance, and gold and jewellery listed companies have generally risen.

However, even after increasing publicity efforts and riding a "gold rush" ride, how did the company increase its performance by nearly 30% after being exposed to quality problems by CCTV?