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After a difficult 2021, Amazon sellers usher in a brand new year of 2022. For listed large-scale selling companies, the beginning of the new year means the end of Q4. In a blink of an eye, it is time to test the results of the year, and the 2021 annual reports of listed large-scale selling companies will be released one after another. Huakai Creative discloses 2021 performance forecast It is learned that recently, the cross-border e-commerce giant Huakai Creative announced its 2021 annual performance forecast, the main contents of which are as follows. Huakai Creative expects the net profit attributable to shareholders of the listed company in 2021 to be between a loss of RMB 71.5 million and RMB 92.5 million. ▲ The picture comes from Huakai Creative Announcement Looking back at its third quarter report of 2021, Huakai Creative performed relatively well in both revenue and net profit, and there was no sign of a significant decline in performance. ▲ The picture comes from Huakai Creative Announcement However, 2021 has come to an end. Why did Huakai Creative fail to turn losses into profits for the whole year? In the announcement, Huakai Creative explained this phenomenon. It is reported that during the reporting period, Huakai Creative completed the strategic reorganization of Shenzhen Yibai Network Technology Co., Ltd., and included Yibai Network in the company's consolidated financial statements from July 1, 2021. It is understood that after Huakai Creative successfully acquired Yibai Network, it actively implemented strategic transformation, and cross-border export e-commerce business has become its main business. But objectively speaking, the cross-border export e-commerce industry as a whole has faced many unfavorable challenges since the second half of 2021 , including: - The "new crown" epidemic has recurred at home and abroad
- Cross-border logistics costs have risen sharply
- RMB exchange rate fluctuates frequently
- Changes in European VAT policy
- Many sellers are selling off their inventory at low prices, which intensifies market competition
Although there are many unfavorable development factors in the cross-border e-commerce industry in 2021, which have affected the performance and profits of many cross-border companies, in the long run, Huakai Creative continues to be optimistic about the potential and development of cross-border export e-commerce business. Huakai Creative stated that the acquisition of Yibai Network during the reporting period successfully achieved the company's strategic transformation and effectively enhanced the company's ability to sustain development and resist risks. The report shows that Yibai Network expects its full-year revenue for 2021 to be approximately RMB 4.7 billion , of which revenue after the consolidation date will be approximately RMB 1.9 billion; it expects its full-year net profit for 2021 to be between RMB 210 million and RMB 230 million , and it expects to achieve the committed performance of the restructuring in 2021, of which net profit after the consolidation date is expected to be RMB 70.6 million. Cross-border navigation , Yibai Network expects revenue of about 4.7 billion and net profit of more than 200 million in 2021! #Amazon##Cross-border headlines#Cross-border e-commerce video account ▲ Video account focuses on cross-border navigation From the above data, it can be seen that Yibai Network has continued to perform strongly after being acquired and has shined in the field of cross-border e-commerce. It has not only achieved a substantial increase in profits and revenues, but also exceeded the bet targets with its parent company, impressing fellow sellers. Yibai Network exceeded its performance bet On April 23, 2021, Huakai Creative announced that it plans to purchase 90% of the equity of Yibai Network through a combination of issuing shares and paying cash. The transaction amount is 1.512 billion yuan. There are tens of thousands of cross-border sellers, so why does Huakai Creative insist on being optimistic about Yibai Network? In 2018 and 2019, Yibai Network achieved operating income of RMB 181,250.44 million and RMB 356,715.35 million, respectively, and realized non-GAAP net profit of RMB 9,002.68 million and RMB 17,528.14 million , respectively. In 2019, the year-on-year growth was 96.81% and 94.70%, respectively, showing a good development speed and potential. ▲ The picture comes from Huakai Creative Announcement However, it is not enough to have impressive results. In order to do business with listed companies, Yibai Network also has to bring out heavy weights. Therefore, the two parties signed a profit betting clause during the merger and acquisition. The performance commitments made by Yibai Network are as follows: "The net profit attributable to the parent company's owners after deducting non-recurring gains and losses in the consolidated financial statements of Yibai Network in 2019, 2020, 2021, 2022, and 2023 shall not be less than 141 million yuan, 170 million yuan, 204 million yuan, 251 million yuan, and 290 million yuan, respectively." So how has Yibai Network achieved its performance commitments during this period? The financial report shows that in 2019 and 2020, Yibai Network achieved operating income of 3.5671535 billion yuan and 4.2592743 billion yuan respectively, and achieved non-net profit of 1.752814 billion yuan and 3.635601 billion yuan. In addition to the 2021 annual data disclosed by Huakai Creative recently, it is estimated that Yibai Network's net profit for the whole year of 2021 will be between 210 million and 230 million yuan, which has exceeded the bet target for this year. In summary, Yibai Network has fulfilled its performance betting commitment for three consecutive years, and according to the reward plan proposed by Huakai Creative, the main management team members of Yibai Network are likely to receive excess rewards. The calculation formula is as follows: Excess performance reward = (cumulative net profit realized in 2019, 2020 and 2021 - cumulative promised net profit in 2019, 2020 and 2021)*30%+(net profit realized in 2022 - promised net profit in 2022)*50%+(net profit realized in 2023 - promised net profit in 2023)*50%. Some sellers pointed out that according to this algorithm, the core team of Yibai Network may be able to get a reward of up to tens of millions, but we still don’t know the final amount of this money and when it will be distributed. Compared with the sharp decline in performance of other big sellers in 2021, it is not easy for Yibai Network and its team to achieve this result. If they continue to maintain such a strong growth momentum, the realization of their five-year bet commitment will also be expected in the future.
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