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*ST返利遭减持背后:保壳压力下销售费用增速显著超营收 财务信息不准确
Xin Lang Cai Jing· 2025-09-16 13:37
一方面,减持是股东正常行使财产权利,只要减持行为建立"公平、公正、公开"等三公原则及合规等基 础上,股东有权行使正当权益; 另一方面,由于资本市场信息的不对称性,作为上市公司大股东或高管的内部人,其减持行为或也可以 作为普通投资者观察上市公司一个参考信号,即其内部关键人减持是否或可能意味着其对公司未来发展 可能缺乏信心或公司当前股价可能存在高估的水分基本面难以支撑等信号?这种"内部人"减持信号或值 得投资者高度关注。 据公开资料显示,*ST返利前身是ST昌九。2020年3月,ST昌九公告重组预案,将以发行股份及现金购 买的方式,购买上海中彦信息科技有限公司(以下简称"中彦科技")100%股权,中彦科技系 互联网 电 商导购平台"返利网"的经营主体,交易成功后,返利网顺利借壳ST昌九登陆A股市场。 近期,市场行情持续向好, 上证指数 一度突破四年新高,与之对应的是,个股也随之"水涨船高"。然 而,在市场情绪氛围较浓之际,上市公司大股东或高管却抛出减持计划。对于普通投资者,又该如何理 解这种减持行为? 基于上述一系列背景,我们将对近期公司相关减持进行系列复盘。 9月15日, *ST返利 公告,股东江西昌九集团计划 ...
*ST返利遭减持背后:保壳压力下销售费用增速显著超营收 财务信息不准确|透视A股减持
Xin Lang Zheng Quan· 2025-09-16 12:57
Core Viewpoint - The recent market rally has led to an increase in stock prices, yet major shareholders and executives of listed companies are announcing plans to reduce their holdings, raising questions about the implications of such actions for ordinary investors [1] Group 1: Shareholder Actions - Shareholders have the right to reduce their holdings as a normal exercise of property rights, provided that the actions are conducted fairly and transparently [1] - Insider selling by major shareholders or executives may signal a lack of confidence in the company's future or suggest that the current stock price is overvalued [1] Group 2: Company Overview - *ST Fanli, formerly known as ST Changjiu, underwent a major asset restructuring in 2020, acquiring 100% of Shanghai Zhongyan Information Technology Co., which operates the e-commerce platform "Fanli.com" [2] - The company has established partnerships with major e-commerce platforms and local service providers, but its overall revenue is currently shrinking, with projected revenue for 2024 expected to be less than 300 million yuan [2] Group 3: Financial Performance - In the first half of 2025, *ST Fanli reported approximately 186 million yuan in revenue, a year-on-year increase of 36.01%, but incurred a net loss of about 33.28 million yuan [4] - The company's sales expenses have significantly outpaced revenue growth, with sales expenses increasing by 100% compared to the revenue growth of 36% [4] Group 4: Regulatory Issues - The company received a warning from the Jiangxi Securities Regulatory Bureau due to inaccuracies in its financial disclosures, which violated regulations regarding information disclosure [5] - The inaccuracies were related to the estimation of variable consideration in advertising contracts for the first quarter of 2024, but the corrections did not affect previously disclosed financial reports for the year [6]
公众号返利平台哪家好?电商高返机器人推荐!京东/淘宝购物省钱
Sou Hu Cai Jing· 2025-08-04 02:26
上周闺蜜神神秘秘给我发消息:"同样的戴森吹风机,我比你少花了200块!"原来她用了个社交软件上的返利机器人,这让我突然意识到——原来我们都在 为信息差买单。今天咱们就掰开揉碎聊聊返利平台到底怎么玩,特别是那个常被提起的惠利星球,到底藏着什么门道? 一、返利平台的"前世今生":从暗券到智能匹配 记得十年前逛淘宝,总得先去各大论坛扒隐藏优惠券。后来有了返利网这样的平台,通过官方合作拿到佣金返给用户。但那时候的操作特别麻烦:要先注册 账号,再把商品链接粘贴到指定页面,最后还得手动提现,而且各种套路满天飞。 现在的返利机器人就像个贴身购物小助手。以大家常听说的惠利星球为例(这里不展开具体推广),它的底层逻辑其实特别简单——就是站在电商平台 的"佣金分账链"上捡漏。当你在淘宝下单时,商家其实会给推广渠道支付10%-30%的佣金(这部分钱本来就是用来打广告的)。返利平台通过官方接口拿 到这笔钱后,把其中一部分以"返现"形式还给消费者。 这就好比你去商场买化妆品,柜姐告诉你"报我的名字可以打八折",但实际上品牌方给柜姐的提成是五折价差。返利平台就是那个帮你谈下折扣还能分你部 分佣金的"内部人士",只不过这一切都通过数据接口 ...
*ST返利拟购买广州风腾60%股权 深化公司与上游电商平台的协同
Zheng Quan Shi Bao Wang· 2025-06-26 13:21
Core Viewpoint - *ST返利 plans to acquire 60% equity of Guangzhou Fengteng for a consideration of no more than 28.8 million yuan, aiming to enhance its competitive edge in the internet effect marketing sector [1][3]. Group 1: Acquisition Details - The acquisition will be funded by the company's own funds without any fundraising or financing arrangements [1]. - Guangzhou Fengteng, established in 2017, has received various government qualifications and has a strong presence in digital marketing and user growth across multiple industries [1]. Group 2: Business Operations of Guangzhou Fengteng - Guangzhou Fengteng's operations include performance marketing, information flow advertising agency, and game publishing and operation [2]. - The company acts as a primary agent for major platforms like ByteDance and UC, providing media account opening, recharge, and advertising design services [2]. Group 3: Strategic Intent of the Acquisition - The transaction aims to integrate Guangzhou Fengteng's capabilities in intelligent advertising systems, data algorithms, and refined operations to enhance *ST返利's marketing capabilities across multiple traffic platforms [3]. - This acquisition is expected to deepen *ST返利's collaboration with upstream e-commerce platforms, thereby enhancing its e-commerce ecosystem service capabilities [3].