Macaulay is "low-key", and even less advertising marketing

When Jingdong Mall, Suning easy to buy, Gome Mall and other electric dealers high-profile "bloody battle", once as the first stock of the market, Mai Lin but only "low-key" act, and even less advertising marketing. As of August 18, the price of Macaulay 0.80 U.S. dollars, because the stock price of a row of less than 1 U.S. dollars, Macaulay or face the threat of delisting, and the recent announcement of the second quarter results added to the net loss widened to 4.9 million U.S. dollars.

"The way to go is to find ways to grow and profit outside the original model, and if it is impossible to achieve a strategic breakthrough in the short term, the exit is likely to become a reality, but the platform is still valuable," he said. "Zhu Mong, a management consultant, said to the international financial newspaper.

Transition to a Business-to-consumer failure

In the latest quarterly report, the company's net operating income for the Internet was $19.6 million, down 40% from the 32.7 million-dollar income of the same period last year, with a net operating income of 39 million dollars, a 58.7 million dollar decline of $ A year earlier, and a net loss of 33.6% dollars, The net loss for the same period last year was $3.4 million trillion, with losses magnified.

It is understood that, when the market, Macaulay 80% of the sales from the catalogue, mail order, entity management and other offline business, after the listing, Macaulay began to the transformation of the company, vigorously support the Mai Lin's E-commerce platform wheat network, but "three legs walk" results are not satisfactory.

"It seems that the transformation of Macaulay to the Business-to-consumer is basically a failure. An Internet analyst, who declined to be named, told the International financial news reporter that Macaulay did not differentiate between the network and the product categories of the retail outlets in the physical store in the course of his business.

Internet industry personage Tang Xin to "International finance newspaper" reporter said, Jing Dong, suning buys these electric quotient mainly to 3 C, home appliances and other standardized products mainly, more suitable for the characteristics of E-commerce. At the same time, can be in the channel to master a higher right to speak, to achieve lower costs. And Mai-Lin to clothing mainly, its own product standardization level is low, channel control weak. And Macaulay is on the market early, and it's hard to get a lot of venture capital to support a marketing campaign.

Zhu Mong pointed out that the problem of Macaulay is always not found in the original directory mail order and business outside of the effective growth model, the rapid growth of its original business has been in the IPO before the growth potential of almost completely dug up, how to find new growth point is the key challenge of the Macaulay.

Self-help is only "dying"?

From the emergence of the halo of "China's first share", to become "1 dollar Shares", Macaulay only used a few 1.5 time. October 26, 2010, in Sequoia Capital investor Shen Nurtured, Mai Lin to "Dark Horse" posture Rob in Jingdong Mall, where the customer prudential products, when the company before the enterprise, landed on Nasdaq, the first day of the IPO price rose 57.36%.

However, the short-lived. At the end of November 2010, the first financial results from the launch came after the bad luck hit, the share price was halved, and a series of lawsuits by local lawyers in the US, with shares falling to around $1.3 in the end of 2011. Affected in the first quarter of the financial situation of the downward, May 16, 2012, below 1 U.S. dollars, has been unable to completely remove the "1 dollar curse."

In response to the share price decline, Macaulay announced a 10 million dollar share repurchase plan in mid-May. But this repurchase plan is difficult to continue to play an effective role. Unfortunately, Macaulay still received a warning letter.

August 13, in order to raise the share price, Macaulay announced that the company plans to change the proportion of U.S. depository shares, to increase the number of each depository shares corresponding to the share of common shares (change of shares).

"Changing the percentage of US depository shares is a financial means of raising share prices." The Internet analyst said, but this way of self-help, "The symptoms do not cure."

Exit the city or choose a good choice.

The most heart is the stock price of investors, there is currently a chance to improve the price, but in case of the day back, investors will lose a lot.

"The capital market's patience is very limited, if cannot find out quickly, the active withdrawal is not a choice." "If you can choose to stay in the capital market, few people will opt out voluntarily," says Zhu Mong. The problem with Macaulay is that it can find a way to get out of the city, but at least for now, they haven't. Tang Xin also pointed out that, from the point of view of the Mai Lin's own perspective, if no clear strategic direction is found, it may be better to be forced to retire. This, in contrast, would reduce losses for companies and investors.

"The big platform electric dealer will eventually form a few market-splitting situation." "Zhu Mong that the days of vertical electric dealers may be even worse," the current vertical electric business enterprises do not have a sustainable development of an effective model, so must find a balance between growth, size and profitability means.