The market value has evaporated over 9.5 billion, and the stock price plummeted by 37%!What is the solution of Sofia's "dilemma"?

The stock price continued to fall, and Sofia, a customized furniture, encountered "Waterloo".

After closing on July 22, Sophia's stock price fell 2.23%again, and the stock price closed at 17.55 yuan/share, with a total market value of about 16 billion; at the time on July 1, Sofia's stock price was still 28 yuan at the highest point/ In other words, just over half a month, Sophia's stock price fell 37.32%, and the market value evaporated more than 9.5 billion.

As a well -known furniture custom leader, the sharp decline in Sophia's stock price is obviously beyond the market expectations, and the reason for Sophia's stock price has pointed to the announcement of a personnel change disclosed before. On July 8th, Sofia announced that the company's executive Yang Xin applied to the company's board of directors to resign from the company's deputy general manager due to personal reasons, and then stopped holding any position in the company.

For a listed company, it is inevitable that changes in personnel. Why did Sofia's executive leave, but can Sophia's stock price "collapse" directly? The stock price continues to fall. In addition to the personnel changes, Sophia, which is a leading furniture, still hides some questions that we haven't seen?

Starting from 20,000 yuan, the legendary family history behind Sofia

Sofia's family history can be described as a bumpy, and it can achieve the current position, and it is inseparable from the founder of the founder -Jiang Yanjun's efforts.

Jiang Yanjun, born in an ordinary family in the Sihui of Guangdong in 1964. After graduating from college, Jiang Yanjun was assigned to work in a state -owned enterprise. Jiang Yanjun, who could live "nine to five", because he saw his friend's foreign trade business, he resigned and resigned after a long time, and he joined. The main business of building materials trading companies, the experience of the construction materials trading company, laid a foreshadowing for its future entrepreneurship.

In 2002, Jiang Yanjun, 38, took 300,000 yuan and borrowed 500,000 to start a business with his borrowed. Thousands of funds have nothing to do, and they have to sell the house to debt. After the debt, only 20,000 yuan is left. When everyone thinks that Jiang Yijun wants to give up, he did not expect Jiang Yijun to succeed in using the last 20,000 yuan.

In 2003, only Jiang Yanjun, who had only the last 20,000 yuan, resigned to start a business and founded Ningji Company, which is now Sophia's predecessor.

With the experience and contacts accumulated before, Jiang Yanjun's business is smooth, but because the traditional furniture industry is gradually declining, Ningji has always been difficult to grow. In the end The business did not expect that it was this decision that made Jiang Yanjun and the furniture business behind him succeed.

Because the customized business was sought after, Jiang Yanjun transformed the company's main business into furniture customization, and introduced the French Sogal France brand, and the company was also renamed "Sophia". Later, furniture customization became a wind in the industry, and Sophia achieved a growth rate of 30%to 50%in those years, and successfully landed on the A -share market in 2011, becoming the first domestic custom -made wardrobe.

Later stories, I believe everyone knows that after the listing of A shares, Sophia continued its good growth rate. In order to increase from 1 billion in 2011 to more than 6 billion in 2017, by 2021, Sofia's The revenue exceeded the 10 billion mark, reaching 10.41 billion, and Jiang Yanjun also made on the "Hurun Global Rich List".

However, just when everyone thought that the "10 billion achievement" was just Sophia's new beginning, and did not expect that Sofia suddenly ushered in Waterloo.

"General" suddenly left, Sofia encountered Waterloo

On July 11, Sophia suddenly fell into the limit with the "one -piece board", and the limit was closed throughout the day, and the stock price fell again the next day.

According to statistics, Sofia's stock price has continued to fall since entering July. As of July 22, Sophia's stock price closed at 17.55 yuan/share, with a total market value of about 16 billion. Compared with the highest point on July 1st, only 16 trading days have passed. It fell sharply by 37.32%, and the market value evaporated more than 9.5 billion.

What caused the sudden "collapse" of Sophia's stock price? The reason behind this is pointing at the previous announcement.

On July 8th, Sofia announced that the company's executive Yang Xin applied to the company's board of directors to resign from the company's deputy general manager due to personal reasons, and then no longer held any position of the company. Sophia opened directly with the "limit".

So, who is this Yang Xin? Why is there such a "power"? It turned out that Yang Xin was the general manager of the Ou Pai Home Furnishing of the "Old opponent". After taking over the Opai Wardrobe in 2015, the overall wardrobe business of the European faction was growing rapidly, and the industry's elder brother Sofia. In 2021, the European wardrobe of the Oupai wardrobe was Business revenue reached 10.172 billion yuan, which directly surpassed Sophia and became the new "wardrobe brother".

It is such a "big coffee" in the industry that was dug from the European faction by Sofia in May 2021. It is responsible for Sofia's "whole -family customization" business. hope. However, maybe Yang Xin is not the time. It didn't take long for Sophia to start a job in the real estate industry, and Sophia was also implicated. Especially the debt crisis in Evergrande, as the main customer, directly led Sofia's assets were impaired as high as 900 million yuan, and its net profit in 2021 was only 154 million, a significant decrease of 87.43%year -on -year.

Looking at the market value, the latest stock price is calculated. As of July 21, Sophia's stock price is 17.95 yuan/share, with a total market value of about 16.4 billion; while the Oupai Home Furnishing as the peers, the stock price is 120.3 yuan/// The total market value exceeds 70 billion, which is more than four times that of Sofia.

However, the outside world was obviously worried about Yang Xin's departure.

A number of data fell, Sophia was fully surpassed

From the current point of view, Yang Xin's departure is only a fuse, and the problem behind Sophia is obviously not so simple.

From the perspective of data, many data of Sofia now show a significant decline. For example, for the more important debt in the furniture industry, according to the data compiled by the media, as of the fourth quarter of 2021, Sophia's total interest debt was 24.16 100 million, the proportion of interest liabilities in total assets was 19.44%, and the pressure of interest debt was not small.

From the financial report, as of the first quarter of this year, Sofia's total liabilities were 6.05 billion, the asset -liability ratio was 49.81%, and the total liabilities were 4.528 billion, of which the short -term borrowing was 971 million, the bills payable and the accounts payable were 1.397 billion. The total of the two has exceeded 2 billion, and the funds on their accounts are only 2.038 billion, and the capital chain has been very nervous.

In addition to liability pressure, Sophia also has obvious "big customer dependence". According to data statistics, from the perspective of the proportion of income in the top five customers, Sofia's large customer income ratio is at a high level in the same industry- From 2016 to 2021, this proportion hovered between 14.5%and 21.19%, while the European faction was kept within 9%in the same period, and the mix of Shangpin house was basically controlled below 5%.

When the real estate industry is good, big customers account for a relatively high advantage, but once the real estate industry has deteriorated, Sophia has to bear the disadvantages of high customers. For example It is the anti -baying brought by big customers.

From the current industry leader, because of his own mistakes, he has gradually been chased by his peers. For the time being, it has not been said that it has far surpassed Sophia's Opai Home. There is a certain distance, but some data of the latter have surpassed Sophia.

Judging from the latest shareholder data, big funds are not optimistic about Sophia.

As one of the highly sought -after white horse stocks, Sofia still has 266 funds in the fund in the fourth quarter of last year. There are 43 funds in the fund, and more than 200 funds have reduced their positions on Sofia. The proportion of the fund's shareholding accounted for 5.17%of the total share capital.

Judging from various signs, there are many reasons for Sophia's recent decline in stock prices, and the personnel changes that everyone says the most may be just fuse. As the former industry leader, the recent heavy decline in the stock price has sounded the alarm for Sophia. If it does not make a timely change, Sophia's stock price may be deeper and deeper.

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