Recently, China's tea company Bama Tea Industry has once again updated the draft of the main board IPO application. Let's take a look at the latest developments in the Eight Horse Tea industry.
Bama Tea Industry is mainly engaged in the research and development, design, standard output and brand retail business of tea and related products. The product range covers oolong tea, dark tea, black tea, green tea, white tea, yellow tea, reprocessed tea, as well as tea utensils and tea foods. In 2012, Bama Tea began to introduce institutional investors, and reached a capital increase, equity transfer agreement and shareholder agreement with Harmony Growth, Nanhai Growth, Tiantu Xinghua and Tianji Star Investment. However, Bama Tea stopped listing in 2018 and signed a listing counseling agreement with CICC in 2019, but the two parties terminated the agreement soon after.
In the process of applying for the GEM IPO, Bama Tea Industry published a total of 4 versions of the application draft, and made some corrections to errors in the 4th version. However, according to the declaration draft, the performance growth rate of the eight horse tea industry in the first three quarters of 2022 is not high. Although the declaration draft did not disclose specific year-on-year growth data, based on previous data calculations, the operating income of Bama Tea Industry in the first three quarters of 2022 only increased by 8 percent year-on-year89%, and the net profit attributable to the parent company only increased by 459%。
In addition, according to the declaration draft, there are 76 employees in the Eight Horse Tea Industry05% are salespeople, while only 129% are production personnel. This means that the number of sales personnel in the Bama tea industry far exceeds the number of production personnel.
In addition, the Eight Horse Tea Industry has been criticized by the Boao Forum for Asia for propaganda problems. According to the statement of the Boao Forum for Asia, Bama Tea Industry falsely advertised its products as designated tea for the Boao Forum for Asia on its ** and other ** platforms, and used a forged authorization certificate. Eight Horse Tea Industry later said that the incident was the behavior of individual lawbreakers, and had reported the case to the local public security organ.
Finally, the divorce of Wang Wenchao, one of the actual controllers of Bama Tea Industry, has also attracted some attention. According to the declaration draft, Wang Wenchao transferred the shares of Bama Tea Industry to his ex-wife Jiang Nina at a lower ** before the divorce. Jiang Nina did not leave Bama Tea Industry after receiving shares at a low price, but continued to serve as the deputy director of the R&D department of the company. This has led some to speculate about whether there is a fake divorce.
In general, the Eight Horse Tea Industry has encountered some problems in the application process of the main board IPO, and the recent performance growth rate is not ideal. These issues may have an impact on the company's growth.