Big news! After selling Paton, Cross-border Communication once again...
|
As a top seller on Amazon, Paton has accumulated more than 600 Best Sellers on Amazon and is also the object of worship for many small and medium-sized sellers. For a while, many people had many questions about why Kuaishou sold Paton. Last night (March 1), Cross-Border Link suddenly announced that it would provide a $100 million guarantee to its subsidiaries : 1. Unicool, a wholly-owned subsidiary of Shanghai Youyi, a wholly-owned subsidiary of the Company, intends to apply for a credit line of USD 30 million from Hong Kong Zhuopxin Trading Co., Ltd. for business operation needs . Unicool provides a pledge guarantee for the credit line with the inventory valued at USD 42.8571 million stored in the bonded warehouse in Nansha, Guangzhou, and the Company provides a joint and several liability guarantee. The details shall be subject to the final signed contract agreement. 2. Hong Kong Nanxing, a wholly-owned subsidiary of the Company's wholly-owned subsidiary Global Easybuy, signed the "Promotion Cooperation Framework Agreement", "Information Service Order" and "Other Media Agreement" with Sinointeractive Digital Marketing Co., Limited and Meetsocialdigital marketing co., Ltd respectively for business operation needs. The Company provides joint and several liability guarantees for the debts incurred by Hong Kong Nanxing under the relevant agreements. The scope of guarantee includes the amount incurred under the relevant agreements, as well as the liquidated damages incurred by Hong Kong Nanxing for failing to repay the relevant amounts, the relevant expenses incurred by the creditors to realize the relevant claims and other amounts. The guarantee amount shall not exceed US$70 million, and the guarantee period shall end when the relevant agreements are fulfilled. The guarantor in this announcement , Global Easy Shopping , has been in deep debt crisis for a long time. This is not the first time that Cross-border Link has guaranteed it. Cross-border Link said that in recent years, the company's capital demand problem has been more prominent. In particular, the capital demand generated by Global Easy Shopping's cross-border e-commerce business and debt repayment is relatively tight. Since 2020, due to the performance losses in 2019, Global Easy Shopping has been affected by the reduction of credit lines by financial institutions and the inability to renew some debts when they mature. In 2020, Global Easy Shopping repaid a total of 1.15 billion yuan in debts to banks and other financial institutions, causing the net cash flow from financing activities to drop from 755 million yuan in 2019 to -440 million yuan in 2020. The repayment of debts further occupied the company's operating funds. It is understood that Global Easybuy's short-term loans and accounts payable total about 1 billion yuan , all of which need to be repaid in the short term or within 2021. Among them, short-term loans are mainly loans from banks and other financial institutions (of which 230 million yuan is the aforementioned loan to Shenzhen Hi-Tech Investment), and accounts payable are mainly payable for commodity purchases, marketing and promotion fees, warehousing and logistics service fees, etc. The move by Cross-Border Link to sell Paton this year and provide a $100 million guarantee gives people a feeling of "rebirth after a broken arm . " |
<<: The exchange rate continues to fall! Raw materials prices are rising! Sellers are going crazy...
>>: Sales are booming! This category has grown by 100%! Sales have doubled in less than a year?
Recommend
Sales plummeted in February! Amazon US sellers' orders plummeted, and crises are lurking!
At the beginning of February, Amazon's US sale...
Amazon's latest brand registration process (updated on December 7, 2020)
It is reported that the brand registration proces...
Tens of millions of dollars have been spent on in-site advertising! ? What experience can be gained from this?
It is no longer the case that you can place orders...
The best Amazon product selection + operation + promotion mind map (absolutely useful)
The best Amazon product selection + operation + pr...
What is Amazon Affiliate? Amazon Affiliate Review
Amazon Affiliate is a very special sales model of ...
What is The Iconic? The Iconic Review
Founded in 2011, The Iconic is Australia's lea...
What is sonar? sonar review
Sonar is a free Amazon keyword search research too...
High inflation leads to consumption downgrade, and Americans flock to the Internet to buy low-priced goods
According to foreign media reports, the continued ...
What is Super Intellectual Property? Super Intellectual Property Review
Founded in 2002, Chofn Intellectual Property Servi...
Walmart to invest 22.2 billion pesos in Mexico to boost e-commerce business
It is learned that Walmart plans to invest 22.2 bi...
Be careful, Amazon's latest phishing email! Click it or you may be infected with a Trojan
Normal, once there is data abnormality, such as s...
Escaping from Amazon and hitting a wall when deploying multiple platforms! How can cross-border sellers overcome the bottleneck period?
▶ Video account attention cross-border navigation ...
What is Fuyou Payment? Fuyou Payment Review
Fuyou Payment is a service provider focusing on va...
Fake orders are sanctioned! 48 people were prosecuted, and a cross-border gray and black industry organization was investigated!
▶ Video account attention cross-border navigation ...
What is Yafei e-commerce? Yafei e-commerce review
Shenzhen Yafei E-Commerce Co., Ltd. was founded in...