Produced｜Sohu Finance

Author｜Wu Ya

On the evening of June 14th, Juran Zhijia (SZ:000785) issued multiple announcements in a row, disclosing various contents such as “Adjustment of Beijing Juran Zhijia Home Furnishing Chain Co., Ltd. (hereinafter referred to as “Home Chain”) related performance commitments.

Jiaranzhijia said that in view of the comprehensive impact of various factors such as the sudden outbreak of the new crown epidemic in early 2020, the listed company plans to adjust the performance commitments of the home chain after consultation with the performance pledger.

In the original performance promise, the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses (hereinafter referred to as “net profit deducted from the parent company”) realized by the household chain in 2020 should not be less than about 2.42 billion yuan; and financial data Shows that this indicator for the household chain in 2020 is about 1.297 billion yuan, which is 1.118 billion yuan less than the original performance commitment, and the performance completion rate is 53.59%.

The announcement shows that after this adjustment, the household chain will no longer assume the performance indicator of deducting non-parent net profits in 2020; the original performance commitment will be postponed to the next fiscal year, that is, 2021; in addition, other performance compensation The method and calculation formula, the implementation of profit compensation and other original terms are not adjusted.

Photo source: “Announcement of Juran Home New Retail Group Co., Ltd. on Adjusting Beijing Juran Home Furnishing Chain Co., Ltd.’s Performance Commitments”

Jia Ranzhi was established in 1999. In December 2019, it backdoor Wuhan China Merchants reorganization and listing and landed on the A-share capital market. At that time, Jia Ranzhi signed a performance betting agreement with Wuhan Zhongshang, the holder of Shell Resources.

In 2019, the first annual report after listing, home furnishing chain achieved 2.117 billion yuan of net profit deducted from the parent company, fulfilling the first performance period commitment; but in the first year after backdoor, the home furnishing chain performance was unqualified for gambling.

In the first quarter of this year after the epidemic, the business of Jia Ranzhi ushered in a rebound. According to the plan of Jiaranzhijia, in 2021, it will have breakthroughs in the development of six self-service modes, and the establishment of its first overseas store outside the country.

Home furnishing chain deducts only 1.297 billion yuan in net profit from non-returned parent in 2020, “unqualified”

The result of “the first year of backdoor performance is not qualified for gambling” has been reflected in the 2020 annual performance forecast announcement. At that time, Jiaranzhijia had announced that in 2020, the non-net profit will be reduced by up to 30% to only 1.45 billion yuan; and that “preliminary estimates that the home chain will not be able to complete the 2020 annual performance forecast”.

Judging from the statement of the announcement, the new crown epidemic is the main factor that has caused such a predicament for home furnishing chains. Jiaranzhijia stated that “the household chain’s operating income was directly reduced by 2.161 billion yuan due to the impact of the epidemic, and the net profit attributable to the parent company will be reduced by 1.277 billion yuan after deducting non-recurring gains and losses in 2020.”

Among them, home furnishing chains reduced rents, property fees, market management fees, and advertising and promotion fees for a total of 1.569 billion yuan (72.6%); during the epidemic period, the leased area was reduced, and the rent was also reduced by 259 million yuan; Signing of franchise stores has been significantly reduced compared with the same period and plan, and the loss of household chain stores is 152 million yuan.

However, due to multiple factors such as preferential policies and property owners’ rent reductions, the household chain will save 443 million yuan in operating costs in 2020.

The home furnishing business is mainly engaged in home furnishing products retail, home improvement services, home store business, decoration business and other pan-furniture businesses. In December 2019, after nearly a year, the home actually backdoored Wuhan Zhongshang to land in the A-share market (issued by Wuhan Zhongshang) The shares purchased 100% of the home furnishing chain) and became another home furnishing store giant that has landed on the A-share market after Macalline (SH: 601828).

At that time, from the book assets alone, the transaction consideration of 35.65 billion yuan between the two parties was not cheap; compared with the net asset value of 11.199 billion yuan involved in the transaction, the premium rate was 218.54%.

As a result, this also left the sword of Damocles hanging over the head of the unexpected house-the gambling agreement. At that time, the two parties made performance commitments for the home furnishing chain: from 2019 to 2021, the home furnishing chain will achieve a net profit of no less than 2.06 billion yuan, 2.42 billion yuan and 2.72 billion yuan, respectively.

The agreement signed by the two parties also clarified that “if a force majeure event occurs that causes part of the original profit forecast compensation agreement to be unfulfilled or delayed, neither party is required to bear any liability for breach of contract due to the unfulfilled part or delayed performance caused by the force majeure event.” .

The first annual report after listing is the first performance commitment period. The net profit of household chain deductions from non-parents is approximately 2.117 billion yuan, far exceeding the commitment target of 2.06 billion yuan, and the performance completion rate is 102.76%.

In the first year after the backdoor, that is, the second performance commitment period, the final result showed that the net profit attributable to the owners of the parent company in the consolidated statement of the household chain was 1.368 billion yuan; the actual profit is the net profit after the deduction of the non-parent company after the consolidated statement. 1.297 billion yuan; and 2.42 billion yuan of performance commitments, there is still a gap of 1.118 billion yuan.

Photo source: “Special Verification Opinions of CITIC Securities Co., Ltd. on the Realization of the 2020 Performance Commitments and Performance Commitment Adjustments of Beijing Juranzhijia Home Chain Co., Ltd

In view of this, Zhiranzhijia said that it intends to adjust the performance commitments: After the adjustment, the net profit of the home chain in 2019, 2021 and 2022 will not be less than 2.06 billion yuan, 2.42 billion yuan and 2.72 billion yuan, respectively. ; In addition, the original performance does not make adjustments to other major terms in the gambling agreement.

In other words, after this adjustment, the 2020 performance commitment of the home furnishing chain will be postponed to the next fiscal year, 2021.

According to the announcement, the new crown epidemic is an unforeseen and insurmountable force majeure event that was unpredictable and insurmountable when the original performance betting agreement was signed, and it is directly related to the failure of the household chain to achieve the 2020 performance promise, so this adjustment plan is reasonable.

“This adjustment plan is conducive to further urging home furnishing chains and companies to increase the speed of performance recovery, increase the rate of performance improvement, and essentially improve the quality of listed companies, which is conducive to the long-term interests of all shareholders, especially small and medium shareholders.” Jiaran said.

This year’s GMV may exceed 100 billion yuan, and plans to open no less than 70 new stores

The annual report shows that due to the impact of the epidemic, the total revenue of the house in 2020 was 8.993 billion yuan, a year-on-year decrease of 2.56%; the net profit attributable to the parent was 1.363 billion yuan, a year-on-year decrease of 56.81%.

During the period, the operating cost of the house was 5.36 billion, a year-on-year increase of 9.3%; the expense ratio was 18.2%, a year-on-year increase of 4.6%, which was a drag on the company’s performance. In addition, in 2020, the annual sales (GMV) of Jia Ranzhi was 65.7 billion yuan, a year-on-year decrease of 17.87%.

In addition to the sharp decline in performance, from 2018 to 2020, the interest-bearing liabilities of the house were 258 million yuan, 3.104 billion yuan, and 4.131 billion yuan respectively, which increased by about 16 times in three years; of which, the long-term interest-bearing debt was 1.32 respectively. Billion yuan, 2.305 billion yuan, 2.587 billion yuan, 5.1 times in three years, accounting for more than 51%.

In May 2020, Ranzhijia, which was listed on the backdoor for only half a year, launched a fixed increase, issuing stocks to no more than 35 specific investors, raising funds no more than 3.595 billion yuan for store renovation and upgrading, and smart retail construction of Zhongshang Supermarket And replenish working capital and other matters.

In December of the same year, the unexpected home announced that it had completed a fixed increase of 3.5 billion, and companies such as Xiaomi, Ali, and Centennial Life Insurance appeared in the list of subscription targets, which brought a great “blood-tonifying” effect to the unexpected home affected by the epidemic.

Among them, Xiaomi Technology (Wuhan) Co., Ltd., furniture listed company Gujia Home Furnishing (SH: 603816), and Centennial Life Insurance each subscribed for 14.1643 million shares, each with a shareholding ratio of 0.22%; Alibaba (Chengdu) Software Technology Co., Ltd. subscribed 28,329,600 shares, with a shareholding ratio of 0.43%.

The latest financial report shows that in the first quarter of 2021, the house of unexpectedly realized revenue of 3.34 billion yuan, a year-on-year increase of 39.05%; realized a net profit of 630 million yuan, a year-on-year increase of 144.58%. Compared with the same period in 2019, the growth rates have also reached 61% and 43% respectively.

In this regard, Jiaranzhijia said that during the reporting period, the investment rate of the company’s direct-operated stores has overcome the impact of the epidemic and returned to a high level, and the expansion of franchise stores has also resumed rapid growth.

It also predicts that the company’s GMV is expected to exceed 100 billion yuan in 201, and it plans to open no less than 70 new stores throughout the year.

For Jia Ranzhi, 2021 is the second fiscal year after listing, and it is also a crucial year for its digital strategy. In December last year, Jia Ranzhi held a new retail achievement and digital strategy press conference, and for the first time disclosed in detail the new strategy of “building a home improvement and home furnishing industry service platform in the digital age”.

Wang Linpeng, chairman and chief executive officer of Juran Home, said that Juran Home is no longer a traditional home furnishing store, a traditional home retail enterprise, and a real estate-style property service provider. It must become an enterprise with long-term value.

At that time, Ranzhijia launched six self-operated IPs, covering design, decoration, auxiliary materials, logistics and distribution, smart home and after-home services, covering all the upstream and downstream tracks of home improvement and home furnishing, including lying flat designer home, digitalization Six platforms including smart home improvement service platform.

According to the plan of Juranzhijia, these six IPs have the profitability to run wildly along their respective tracks; they can also be interconnected and empowered with each other. It is estimated that “every track can contribute more than 10 billion in revenue within 5 years after it runs through.”

In terms of the main business, Jia Ranzhi predicts that in the next 5 years (2025), offline stores will strive to exceed 1,000, with GMV exceeding 150 billion yuan; within 10 years (2030), offline stores will strive to exceed 1,500, GMV More than 300 billion yuan.

However, the performance of the house in the stock market is not optimistic. On June 11, the stock price of Jiaranzhijia hit 6.31 yuan, the lowest since December 28, 2018; it closed at 6.73 yuan, down 0.16%.

On June 15th, the first trading day after the announcement of the adjustment of the performance commitment compensation plan, the stock price of Jiajiao reached the bottom again at intraday, to 6.22 yuan; it closed at 6.29 yuan, down 1.26%.

1. The door frame, the door is crooked and cracked Illustration (Internet source) The door frame and the door are the place to welcome the fortune home. If you discover that your door frame or door is bent or cracked, it’s best to find a way to fix it right away. The main door is the way for people to go back and forth often, if the door is bent or crooked, this signals a bad omen is coming to the house, fortune is not gathered, it will affect the path of fame and career of the owner. . 2. Hanging mirrors violate feng shui Mirrors are essential items for every family, in feng shui, mirrors also have the effect of absorbing gas, transforming bad energy, and bringing good luck and fortune to the whole family. However, it is in the case that the homeowner uses the mirror properly, on the contrary, if the mirror is placed in the wrong position, the mirror will not only not make “evil omens turn into good” but also prevent fortune and cause family discord. fight each other. Internet photos In feng shui, if you hang too many mirrors in the house, it will create negative air, so it is easy to dissipate assets. If used correctly, a mirror is a diffuser, but if used incorrectly, it will have the opposite effect on your fortune. 3. The safe is placed in an arbitrary position The safe is a place to store assets, the center of the family’s fortune, so the location of the safe and the accompanying feng shui items is very important. Many families, when placing a safe in the house, do not know they are committing taboos that make business prone to failure. Locations where the safe is located, such as: Opposite the door, put the safe in front of the mirror, put the animal in the safe… The best place to place the safe is in the position of wealth, in the place where the air is prosperous or the most energy is received in the room to welcome the God of Wealth to help make fortune smooth and full. 4. Leave the tree to dry, die in the house According to feng shui, letting the tree die means that negative images in your family gradually appear. Dead trees are a sign of health and financial demise. This makes sense not only for plants on the table, but also for plants in the house and in the office. It can be argued that a dead tree will create a gloomy and melancholy atmosphere for the human psyche living in that environment. 5. The house has a main door and a straight back door When a house has the main door and the back door in the same line, the fortune in the house will be difficult to gather. In particular, if two houses have opposite main doors, it will cause this house gas to rush into the door of the house, causing your family to lose fortune. Internet photos In addition, when your house suffers from this great cavalry, it will make money easily dissipated. In addition, the houses with these errors are difficult for homeowners to advance, and fortunes are lost. 6. Display dried flowers, hang pictures of beasts in the living room Although fake flowers look beautiful and harmless, in the long run, they affect the homeowner a lot. For single female friends, it will increase bad luck. For married couples, it is easy to cause trouble and quarrels, affecting family happiness. In addition, for those who do business, no matter how long they are in business, planting fake trees without vision will cause the economic source to be blocked in an inexplicable way. 7. Kitchen in the West, South and North directions hướng The west direction of the needle system will be engraved with the fire of the stove. Houses with kitchens facing the West tend to be disturbed and unable to keep money. As for the kitchen that rotates to the South and North, it will also make the homeowner at a disadvantage in terms of money, besides, health is often not good.

Recently, on social networks, there has been a situation of buying and selling clips from camera accounts stolen by bad objects. Depending on the quality of the content, the associations that sell the 18+ clip will collect a fee from 100,000 to 250,000 VND per joining. Not only providing depraved content, some groups also share hacked camera access accounts for a package fee of about 3-4 million VND. The fact that cameras are installed everywhere, the number of cameras is constantly increasing, making data from the camera a source of information targeted by many objects. (Artwork: Internet) According to experts of the National Cyber ​​Security Monitoring Center (NCSC), the Information Security Department, the Ministry of Information and Communications, the sale of account information on social networks is not a new behavior, but it has exported. appeared long ago. However, in the past, normally subjects only sold bank accounts, social networks or accounts containing information such as email, phone number, identity card number … Nowadays, when cameras are installed everywhere, the number is constantly increasing, being a source of information targeted by many audiences, the camera account also becomes “hot goods” on the account trading pages. “This form of purchase is becoming more popular because the number of cameras is increasing. Victims who lost their camera account can be monitored by others through their own camera, ”said the NCSC representative. Many users accidentally revealed the camera system login information According to experts, there are many reasons for the widespread purchase and sale of clips and camera accounts on the network, in part due to regulations and sanctions against acts of buying, selling and distributing personal data. not enough deterrent. Commenting on the reason that the personal camera system is vulnerable to hacker attacks, both subjectively and objectively, NCSC’s representative said: “Subjective is because users accidentally reveal account login information. camera. And objectively, because users use poor quality camera equipment, do not ensure enough information security, leading to the device can be hacked by hackers, thereby getting the login account “. Having the same opinion with the representative of NCSC, a security expert for IoT devices at Viettel Cyber ​​Security, Ha Toan, emphasized: A fundamental reason that makes personal and household cameras easy. Hacker attacks are due to the user’s limited knowledge of using IoT devices or cameras. For example, do not change the default password of the device when it is put into use. According to Toan, another reason is that the camera device of the manufacturer does not have a protection mechanism such as verifying the integrity of the firmware running on the camera device, allowing hackers to buy camera equipment and insert backdoors. (back door – PV) and then sold to the market. “During the work, we also discovered many backdoors allowing remote access in cameras originating in China”, Viettel Cyber ​​Security expert added. Along with that, there are cameras that have vulnerabilities in firmware due to programming errors such as buffer overflow, hardcode login information, logic errors … allowing hackers to exploit to take control of the device. Camera account information can also be revealed because the installation staff deliberately fails to notify the password change during installation or notice the change but does not notice the change of the entire service as mentioned above also includes services RTSP, onVIF. Raise awareness of personal information protection, choose a reputable camera To overcome the widespread situation of buying and selling clips, camera accounts in particular as well as personal information and data, experts say that the Decree on personal data protection should be issued soon and come to life. This draft Decree has regulated heavy fines for violations of personal data protection regulations. “The more penalties for handling violations related to the purchase and sale of personal data will help increase deterrence and reduce the rate of violation”, expert of Vietnam Cyber ​​Security Joint Stock Company (VSEC) Vuong Trong Nhan stated his point of view. But experts also emphasized the limitation in the sense of protecting personal data of users as well as the organization providing services related to user data. Making recommendations to users, VSEC experts advise them to first increase their sense of self-protection by not using the camera manufacturer’s default password, setting a strong password and setting a Private network system is only for indoor security equipment, instead of sharing the same Wi-Fi network. According to representatives of NCSC, individuals and businesses when using cameras need to have strict regulations and decentralization when allowing users to access their camera systems, need to change passwords regularly to avoid in case the login information is known by many people, the risk of leaking is also higher. Emphasizing on the safety factor of the device, experts say that choosing to buy cameras manufactured from major brands, products that have been assessed for information security as well as choose a reputable installation unit. is an effective solution to help users avoid the risk of information insecurity. On the other hand, is it time for camera manufacturers to pay more attention to whether their equipment meets information security requirements?

China’s test network connects 40 top universities in preparation for a society powered by artificial intelligence (Image: Shutterstock) Located at Tsinghua University, “Future Internet Technology Base” connects 40 universities, the country’s leading research institute with much lower bandwidth and latency than the current Internet. ; According to the Xinhua state news agency. This facility will serve as the “backbone” for the China Network Innovation Environment (CENI) – a research facility linking the largest cities in China – to confirm the effectiveness and safety of the public. network technology in the future before bringing it into commercial use. When completed in 2023, the CENI facility will become a prototype of the “Internet of the Future”, connecting almost everything – from home computers to cars on the street – to serve information without compromise. disruption in a society powered by artificial intelligence (AI). “We will put a lot of effort into it. The Internet of the future needs to withstand all kinds of attacks. It is important to our national security, ”an anonymous computer scientist who was involved in the project at Tsinghua University told SCMP. China’s current Internet is built with Western technology and is full of backdoors. The US government’s Prism project, for example, took advantage of these weaknesses to penetrate the Chinese government and some of its research institutes, including Tsinghua; according to “whistleblower” Edward Snowden. Following Snowden’s revelation, the Beijing government has stepped up efforts to replace Western hardware in its information infrastructures. In recent years, a number of Chinese telecom companies, including Huawei Technologies Co., have outperformed Western firms in 5G network development and many other technologies. But their lead is limited to certain areas, while foreign software and protocols still prevail in the Chinese network. The US government has also launched a multitude of test networks, including the Global Network Innovation Environment (GENI) to maintain their leadership position in networking technology. Other players – such as the EU, Japan and South Korea – have also started similar projects. According to Tan Hang, the lead scientist working on the CENI project, the construction of the Chinese test network began in 2019. China’s base is to counter the US GENI program, with completely different technology. For example, China will develop a brand new operating system to manage data flow and “conversation”. between devices on the future Internet network, with the support of domestically produced hardware – from routers, servers to computer chips…, according to Mr. Tan. This 1.7 billion yuan ($ 260 million) network base will “enhance our country’s competitiveness and allow us to gain an edge in the international cyber competition,” said Mr. Tan. more. China has now embarked on building the world’s largest 5G network, and in the foreseeable future, a large number of smart devices – including self-driving cars – will connect to the Internet. These devices can produce and request huge amounts of data, while allowing only minimal communication delay and each device needs a unique ID. According to Mr. Tan, the current Internet base, based on military technology from the 1980s, is not strong enough to meet future requirements. And the more things connected to the Internet, the greater the damage caused by a network attack. New security protocols developed by Chinese researchers to locate and identify any device in the future network will be tested in the CENI network; according to Mr. Tan. The CENI network “will support attack and defense training” by allowing more than 4,000 teams across the country to conduct separate experiments at the same time; he said. Of course, China’s network will not be isolated, but will connect to existing Internet networks, as well as test networks in other countries, including the Future Internet Research and Test Network (FIRE) of Europe; according to the EU.