The bankruptcy of a cross-border seller was rejected? ! Is there still a chance to save it?

Recently, the Shenzhen People's Court made a final ruling on the bankruptcy application of Global Easy Shopping, the "first cross-border stock", and refused to accept the bankruptcy liquidation application.

Global Easybuy was founded in 2007. In 2015, it completed a merger with the listed company "Baiyuan Pants Industry", went public through a backdoor listing and changed its name to "Kuoguotong". It became the first cross-border e-commerce company to be listed on the A-share market, and it was in the limelight for a while.

After obtaining sufficient funds after its listing in 2015, Global Easy Shopping achieved annual revenue of over 10 billion yuan from 2017 to 2018, accounting for 81% and 58% of the total revenue of the listed company "Cross-border E-commerce", and realized net profits of 710 million yuan and 247 million yuan respectively, and raised the market value of its parent company Cross-border E-commerce to 40 billion yuan.

The good times did not last long. In 2020, suppliers and Cross-border Communication had settlement disputes, and even went to court. The annual report of this year was even more miserable, and Cross-border Communication's net assets directly dropped to negative numbers. In June of this year, Global Easy Shopping was filed for bankruptcy by its creditor, Industrial and Commercial Bank of China, Nanshan Branch, Shenzhen . The court has ruled that the case will not be accepted, which shows that Global Easy Shopping's situation is not yet forced to enter the bankruptcy process. In other words, it is still worth saving. As for whether it can be saved, it depends on luck.

This year, both small and big sellers have had a difficult time on large platforms like Amazon. On the one hand, the competition is fierce, and on the other hand, the platform policies are tightening. Many sellers are looking to deploy more small platforms, diversify sales channels, and reduce their dependence on Amazon.