Lu.com reported on August 31 that Yilala Group Co., Ltd. (hereinafter referred to as "Yilla" or "Company") has joined hands with CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities") for the second time to restart the listing guidance work.
htmlOn August 22, Yilala once again released a report on the initial public offering and listing guidance filing. This time the company chose the guidance institution CITIC Securities. The reporter also noticed that it has just been three months since the company voluntarily withdrew its listing application.
official website shows that Yilala was founded in 2017 and is a self-branded cotton children's clothing enterprise. It owns four major cotton children's clothing brands: "Yillala", "Maoen Maoai", "Ankami" and "Hello.Dr". The company's brand is aimed at the mass consumer market, and its product line covers all categories of infant and child MINI clothing, children's home clothing, underwear, outing clothes and other children's clothing. As of June 2021, the company has opened 6 direct retail stores in Shandong, one of which is located in Qingdao and five are located in Yantai.
In June 2021, Yilala submitted its first application for the first time and signed a "Guiding Agreement" with CITIC Securities to receive listing guidance. At that time, the company was established for less than four years. In November of that year, Yilala received the first feedback from the China Securities Regulatory Commission involving 39 inquiries. The China Securities Regulatory Commission asked Yilala to analyze and explain the reasons for the continued decline in sales revenue, as well as the issues involved in normative issues, information disclosure issues, whether related risks are disclosed, and issues related to financial accounting information, etc.
reporter learned from the prospectus submitted by Yi Lala at that time that its operating income has continued to decline in recent years, and although its gross profit margin has increased, it is not as good as that of its main competitors in the same industry.
data shows that from 2018 to the first half of 2021 (reporting period), Yilala achieved operating income of 758 million yuan, 749 million yuan, 674 million yuan and 290 million yuan respectively; net profits in the same period were 142 million yuan, 162 million yuan, 157 million yuan and 62 million yuan respectively. During the reporting period, the company's gross profit margins of 37.84%, 38.09%, 40.88% and 39.52% were also lower than the industry average and its main competitors.
In May 2022, the China Securities Regulatory Commission asked the company to further explain 39 questions, but Yilala did not choose to reply but chose to "apply for withdrawal". On June 14, the China Securities Regulatory Commission announced the review process of the Issuance Supervision Department’s initial public offering of shares and the situation of the application for enterprises. Yilala ranked in the list of companies applying for the termination of the review of the initial public offering of shares in 2021. This also means that Yilala's first IPO has come to an end.
Just over two months have passed, and the company has restarted listing guidance. This time, can CITIC Securities help Yilala get out of the shadow of "failure" in its first listing, dispel the regulatory authorities' doubts about the problems exposed by the company when applying for the first listing, and then successfully enter the capital market? (Reporter of this website)
