Mass Phil Million Yuan Women'S Clothing Is Hard To Change "High Inventory Low Turnover"

< p > China economic net reporter interviewed Mass Phil about why the "shoddy event" did not appear in the prospectus, and how to solve the high inventory problem after the listing, but failed to reply.

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< p style= "text-align: justify" > strong > a href= "http://fz.sjfzxm.com/" > high inventory < /a > low turnover or influence IPO process < /strong > < > >

< p > there is a very interesting saying: "even though all the garment enterprises in China are now discontinued, it is only a backlog of goods in the warehouse that can at least sell the clothing sales enterprises in the country for 3 years."

The seriousness of the problem of overstock in clothing industry is evident.

And data show that Mass Phil can not escape the nightmare of high inventory, which will become a major obstacle to the company's IPO.

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< p > China economic net reporter found that the book value of the company from 2011 to 2013 was 414 million yuan, 465 million yuan and 504 million yuan respectively, accounting for 29.57%, 29.62% and 27.25% of the operating income respectively.

In addition, Mass Phil's inventory turnover is far from the same industry.

Prospectus shows that from 2011 to 2013, Mass Phil's inventory turnover rate was 0.72, 0.68 and 0.71 respectively, while the average value of the same period was 1.59, 1.36 and 1.19 respectively.

Under the condition of high inventory, enterprises have low inventory turnover rate, that is, poor inventory liquidity, resulting in continuous profitability is difficult to judge.

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"P" review the past situation, in 2012, a large number of clothing enterprises "market tide" appeared in IPO, but most of the enterprises eventually ended with a break.

According to industry sources, the pressure of inventory is the main reason for the majority of garment enterprises IPO, and the women's clothing that takes direct sales as the main selling mode has become the hardest hit area. Among the 7 garment enterprises that have not been examined by the Commission, 4 are mainly women's clothing manufacturers.

Unfortunately, Mass Phil is a women's clothing company based mainly on direct shop, and is also facing the situation of high inventory.

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< p > < strong > labor dispatch labor exceed standard 3.5 times < /strong > < /p >

< p > according to the prospectus, as of December 31, 2013, Mass Phil and its controlling subsidiary, Mass Phil, have opened 664 stores in the high-end shopping malls of major and medium-sized cities in China.

In addition, the number of employees employed by the company is 1954, accounting for 45.27% of the total number of employees.

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< p > however, according to the CICC online report, labor dispatch is a non mainstream form of employment. Some countries, such as France and Belgium, prohibit the dispatch of labor services. Other countries that allow labor dispatch have also formulated various restrictive provisions including time limit and industry.

In 2013, by the twenty-first ministerial meeting of the Ministry of human resources and social security, the fourth section of the Interim Provisions on labor dispatch clearly stated that "employing units should strictly control the number of labor dispatching workers, and the number of dispatched workers should not exceed 10% of their total employment.

And Mass Phil dispatched 45.27% of the total number of employees, more than 3.5 times the requirement.

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The explanation given by Mass Phil P is that the company has set up branches or branches in the sales area to recruit personnel, but there are still some sales areas that can not complete the establishment of branches or branches in a relatively short time.

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< p > however, insiders say, "enterprises that violate such labor dispatching regulations are likely to be considered invalid in the judicial practice, and there is a factual labor relationship between the workers and the employing units, which poses a great risk to the employment of enterprises."

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< p > it is noteworthy that Mass Phil did not mention this matter in the prospectus "the risk of labor dispatch employment", but simply referred to the company's existence as a result of the labor dispatch unit violating the provisions of the labor contract law and causing damage to the dispatched employees, resulting in the risk of joint liability of the company and the labor dispatching company.

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< p > < strong > product has been investigated for "/strong > < /p >.

< p > according to Hua Hua online "women's wear and sale" was exposed, how long did Shenzhen Mass Phil still want to "Silence"? Reported that in 2011, Ji Wanchang, a professional consumer rights and interests defenders, was commissioned by consumers to purchase Mass Phil's fashion rights for 12800 yuan in Zibo commercial building in Shandong, and sent it to the national leather products quality supervision and Inspection Center for testing.

The final test result is consistent with the consumer's reflection, that is to say, the Mass Phil fashion material sold in Zibo commercial building in Shandong is shoddy.

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< p > it is reported that the production material of women's clothing is not a chinchilla fur, but a cheap rabbit fur.

This is quite different from Mass Phil's fashion promotion.

Shandong Zibo industrial and commercial bureau accepted the fraud in Mass Phil Shandong Zibo commercial building. Afterwards, Mass Phil and Shandong Zibo commercial buildings also admitted that the quality of clothes was not qualified.

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< p > however, it is puzzling that this incident happened during the reporting period of the prospectus, but Mass Phil concealed it, and obviously wanted to deceive the public.

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