The status of capital chain Jingdong
mall has been a hot topic in the business circle, CEO Liu Qiangdong has repeatedly been questioned repeatedly, anxious to gamble, that Jingdong cash flow safety. The most famous one is at the beginning of 2012, dangdang.com (10.62, 0.12,1.14%) CEO Li Guoqing said, "fire" Jingdong mall of the capital chain tension, just enough money to burn the year from August to October, must as soon as possible financing, otherwise they will be very sad. Subsequently, Liu Qiangdong responded that Jingdong account cash more than 6 billion yuan. He also set a gamble, if less than 6 billion yuan, is willing to donate 10 million yuan; if more than 6 billion yuan, Li Guoqing only donated 5 million yuan. At that time, Li Guoqing did not directly react, "capital and cash account is different" to block a gun. Then settle a matter by leaving it unsettled.
Jingdong to submit a listing application, before the end of 2013, Liu Qiangdong announced the first three quarters of earnings news. The move was also interpreted as a high-profile Li Guoqing electricity supplier, is a precursor to financing".
with the prospectus disclosure, capital chain Jingdong mall finally get to the bottom of the truth. Just as Liu Qiangdong in April 2012 6 billion yuan in cash on account of the response did not "". By the end of 2011, Jingdong mall account, cash and equivalents is about 6 billion 289 million yuan. Of course, Li Guoqing recently, the electricity supplier is a high-profile financing precursor judgment is not wrong.
overwhelmed Jingdong to apply for IPO, once again caused the lack of Jingdong, Liu Qiangdong forced investors pressure ahead of the market, such as speculation. Whether Liu Qiangdong is under pressure from investors is still unknown, but from the Jingdong’s equity structure and the right to vote, if Liu Qiangdong does not want to make it difficult for investors to force him. As for the lack of money, at the end of 2013, the media communication conference, Liu Qiangdong responded that Jingdong cash flow is very good, more than you imagine."
on the whole, after the scale of sales, Jingdong mall capital chain has entered the security line. Jingdong is the end of "burning", "self blood" began to enter the stage, 2012 operating cash flow positive, the first three quarters of 2013, net positive. In theory, the business needs of the funds can be self circulation, no longer need to use equity financing to subsidize.
looks like Jingdong’s finances are healthy. According to data disclosed in the prospectus, as of the end of September 2013, the Jingdong’s total assets of about 23 billion 849 million yuan, the current assets of approximately 20 billion 774 million yuan, on account of cash and cash equivalents of 8 billion 812 million yuan, all liabilities for short-term debt of about 14 billion 551 million yuan. The current ratio is 1.43 and the quick ratio is about 0.98. The so-called liquidity ratio, is the ratio of current assets and short-term liabilities; the quick ratio is the ratio of short-term debt and liquidity in stock after excluding. The two reflects the company’s short-term solvency. By the end of 2012, Jingdong’s current ratio of 1.36, quick ratio of 0.95. This shows that Jingdong’s financial position is good, short account