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▶ Video account attention cross-border navigation It is March, a good time for all things to recover vigorously. However, the recent epidemic has caused many cross-border people to return to the cold winter. Problems such as the threat of out-of-stock and supply chain disruption have followed one after another, and even orders have fallen into "spring hibernation".
At a time when sellers are deeply troubled by logistics difficulties, a cargo ship owned by Evergreen Marine recently ran aground again and was trapped in the Chesapeake Bay while sailing to the Atlantic Ocean. Rescue operations are currently being carried out in an orderly manner, but it is foreseeable that there will be certain delivery delays for the goods on board. Although an Evergreen cargo ship ran aground again a year later, Evergreen recently made a move that shocked the cross-border industry even more: following 40 months of year-end bonuses, it gave out another 10 months of "mid-year bonuses"! Shipping companies are competing internally in various ways, and Evergreen generously spends 10 months of mid-year bonuses! In 2021, the shipping industry was extremely hot, and countless shipping companies achieved explosive growth in performance, making a lot of money. Among them, Evergreen Marine achieved revenue of approximately NT$489.41 billion in 2021, a year-on-year increase of 136%; net profit attributable to parent company owners was approximately NT$239.01 billion, a year-on-year increase of 881%. With net profit soaring nearly nine times, Evergreen’s year-end bonus distribution has swept the entire cross-border circle, with 40 months’ salary being spent lavishly, making many cross-border people envious. However, only nearly a quarter of 2022 has passed, and Evergreen recently announced the launch of a new reward mechanism. Recently, Evergreen held a board meeting. In addition to passing a series of financial report proposals, it also adjusted the employee salary incentive policy. It is reported that in 2022, Evergreen will pay out NT$1.303 billion in employee salaries for the first time, which is about RMB 290 million. Based on the number of employees at Evergreen in 2017 last year, each person can receive an average of nearly NT$650,000. Based on a monthly salary of NT$65,000, it is equivalent to an employee receiving an average of 10 months of "mid-year bonuses." It is understood that Evergreen Shipping is still continuing its glory of last year in 2022. According to its latest performance report, the consolidated revenue in January reached NT$56.841 billion (about RMB 13 billion), once again rewriting the highest monthly revenue record, and the revenue has remained at the NT$50 billion mark for four consecutive months. The unstoppable revenue growth and high profits have also become the basis for Evergreen to be so "arrogant". Of course, Evergreen's main revenue source comes from mainland China. It can be said that its outstanding performance is inseparable from the contributions of many cross-border sellers. According to industry analysis, the container shipping market is still hot this year and freight rates will continue to remain high. Compared with the crazy year-end bonuses of shipping companies, the rising freight rates will undoubtedly cut into the already thin profits of sellers. Shipping giants are currently in the limelight, but the former cross-border giants have recently been embroiled in lawsuits. Cross-Border Link sued SHEIN, still owes tens of millions in Paton acquisition fees! It is learned that Cross-border Communication recently released a major litigation, arbitration and progress announcement. As of the date of the announcement, Cross-border Communication and its subsidiaries have accumulated 20 new litigations and arbitrations, involving a total litigation amount of 20,400 yuan, accounting for 19.94% of the company's latest audited net assets. ▲ The picture comes from the announcement of Cross-border Communication The announcement shows that the three new lawsuits are equity transfer disputes with SHEIN and Yiwei Yihang, involving a total litigation amount of approximately 174 million yuan. ▲ The picture comes from the announcement of Cross-border Communication On April 7 last year, Cross-Border Link signed a Paton equity transfer and capital increase agreement with SHEIN and other companies, stipulating that its shareholding ratio in Paton would be 4.6782% and it would pay a transfer price of RMB 94.5 million. However, as of now, most of the transferees have paid the transfer fees one after another, while SHEIN still owes 12.1153 million yuan in equity transfer price to Cross-Border Communication . Despite repeated demands, it still prevaricates with various reasons and refuses to pay. In addition to SHEIN, another company, Yiwei Yihang, also went back on its word on the acquisition of Paton. According to the agreement, Yiwei Yihang acquired 5.8478% of Paton's equity and should pay 118 million yuan for the equity transfer. However, Yiwei Yihang still owes a transfer payment of 41.35988 million yuan and has filed a lawsuit with the court, demanding the termination of the Paton equity transfer and capital increase agreement signed with Cross-Border Communications on April 7, 2021. At the beginning of last month, Cross-Border Link mentioned the litigation disputes regarding SHEIN and other companies in its reply to the Shenzhen Stock Exchange's letter of concern. Many financiers have expressed regrets about the acquisition of Paton. Now, a month has passed, and the two parties have not reached a settlement. ▲ The picture comes from the announcement of Cross-border Communication At the beginning of 2021, the news that Cross-Border Communication would sell 100% of Paton's shares shocked the cross-border circle. Tracing back the reasons behind it, it was mainly because of the huge losses in performance and the inability to solve the problem of capital demand, which forced Cross-Border Communication to make the decision to cut off its arm to survive. However, with the passage of time, the sale of Paton has been blocked, the "sky-high redemption fee" has not yet been paid in full, and Cross-Border Link has not been able to turn losses into profits. After transferring Paton, it lost Global Easybuy, an important arm. Its future development is uncertain. Today, in addition to the acquisition disputes with SHEIN and other companies, Cross-Border Link is also deeply involved in multiple lawsuits and is heavily in debt. In response, Cross-Border Link stated that the lawsuits and arbitrations announced this time will affect the company's 2021 annual profit by approximately 200 million yuan, and the impact on post-period profits cannot be determined for the time being.
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