Financial News
Written by: Zhang Weilun
2020-04-27 21:27
Last update date: 2020-04-28 09:29Esprit Global (0330) Before the financial tsunami broke out in 2008, the myth of the Hong Kong stock market. In 2007, Esprit ’s share price reached a record high of 133 yuan, and its market value exceeded 171.5 billion yuan. However, this once myth of the Hong Kong stock market, in recent years, the stock price has been declining. Based on today ’s closing price of 0.75 yuan, the market value is only 1.415 billion yuan, that is, the total market value of Esprit has evaporated 99.2% over the years, making the company ’s investment The heartache is endless.
The Esprit brand of Esprit was introduced to Hong Kong by the former chairman Xing Li in the 1970s, and gradually expanded its business from clothing to cosmetics. The company was listed in Hong Kong in 1993 and became one of the blue chip stocks in 2002. Around 2000 is the golden age of Esprit. In the financial year ended June 2000, the turnover was 7.277 billion yuan, an increase of 21.4% year-on-year; the profit after deducting non-recurring items was 460 million yuan. An annual increase of 6.9%.
In 2008, it was the peak of Esprit ’s business, even though Xing Li had completely left the company in early 2008, but by the end of June 2008, the turnover increased to 37.227 billion yuan, and the shareholder ’s profit was 6.45 billion yuan. , The dividend per share reached 4.2 yuan.
The Esprit business has grown substantially around 2000, which is related to the outstanding performance of the European business. In the fiscal year at the end of June 2008, German business contributed revenue of 17.387 billion yuan, accounting for 46.7% of overall revenue. However, when a financial tsunami broke out, Esprit's business in Europe was impacted. In the financial year end of June 2009, Esprit's overall turnover fell by 7.4% year-on-year to 34.485 billion yuan, and business income in Germany fell by 10.8% to 15.502 billion yuan. yuan.
After the outbreak of the financial tsunami, Esprit ’s business performance escalated, and the company appeared to change management. At the end of 2009, it announced the purchase of 50% equity in the Chinese business from China Resources Enterprise (0291). In 2012, it announced a rights issue. Even if Xing Li once again supported the company through participating in the rights issue, there was no improvement, and in 2013, he was removed from the blue chip. As of the end of June 2019, Esprit had a turnover of 12.932 billion yuan and a shareholder loss of 2.144 billion yuan. Compared with the peak period, it can't be the same.
In addition to the announcement today of the closure of 56 Asian branches outside the Mainland, I believe that whether Esprit investors or those who are concerned about the Hong Kong stock market, it is inevitable that Esprit has changed in just over 10 years.
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Esprit Hong Kong shops drop by 40%
ESPRIT closes Hong Kong and other Mainland Asian stores outside the mainland, involving special costs of up to 200 million yuan
Esprit