(Source: "Securities Daily" 2024-10-18)
From October 17th to 18th, topics such as “4 people from a company in Jilin left their jobs without permission, some for 16 years” and “a state-owned enterprise in Jilin denied that the four people left their jobs to eat their wages” were on the hot search list one after another. The reporter learned that a company in Jilin that published a newspaper "announcement" for employees to return to work is Jilin Forestry Group w88 online casino betting Beverage Co., Ltd. (hereinafter referred to as "w88 online casino betting Beverage"), a subsidiary of the A-share listed company w88 online casino betting.
Publish a newspaper to encourage employees to return and become a hot search topic
The notice shows that four comrades left their posts without the company's approval and have not yet come to work at the company. During this period, w88 online casino betting Beverage continued to contact the above-mentioned comrades in various ways without success. Four comrades including Ren Moumou are now notified by way of announcement to return to the company before October 21, 2024. If you fail to return within the time limit, w88 online casino betting Beverage will be dealt with in accordance with the "Labor Law of the People's Republic of China" and the Jilin Provincial State-owned Assets Supervision and Administration Commission's "Notice on Carrying out Special Rectification of the Problem of Empty Pay" and relevant regulations.
Assistant Dean and Associate Professor Lou Qiuran, w88 casino of Law, w88 casinoIn an interview with a reporter from Securities Daily, he said that this long-standing problem of employees leaving their posts without authorization reflects the serious governance irregularities within the company. Its legal, compliance, internal control, senior management and other departments may have problems with information exchange, or there may be problems with the negligence of different levels of management.
It can be seen from the notice that the time span of these employees' leaving their jobs ranges from 2008 to 2020, and the longest one employee has been away from their jobs for 16 years. The person in charge of the company's human resources department said that these employees are all ordinary front-line employees. The company has not paid them wages or provided benefits since the day they left their jobs, and there is no phenomenon of empty wages. These four employees are "off the payroll" and the company still wants them to return to work.
This notice has drawn public attention to the long-term absence of state-owned enterprise employees. According to the relevant person in charge of the company, it was originally planned to deal with these four employees in 2019, but it was postponed due to objective reasons. However, the employees mentioned in the notice who left their jobs in 2020 raised questions about whether the company was delaying in processing the employees who left their jobs.
atLou QiuranIt seems that this kind of management chaos will not only cause the company to incur unnecessary operating costs in the short term, but will also have a negative impact on the company's long-term development. In the long run, employee morale will definitely be severely affected. Secondly, it may cause employees to lose confidence in the management ability, which may have a negative impact on the functions of the company's compliance and risk control departments. Finally, the existence of management chaos may indicate that the company may still have other chaos, or may indicate that the company lacks the ability to deal with chaos, which will have a negative impact on the company's reputation, image and investor confidence.
Performance under pressure
While management capabilities are being questioned, w88 online casino betting's performance is also declining. In the first half of this year, in the first half of 2024, w88 online casino betting achieved total operating income of 600 million yuan, a year-on-year decrease of 5.49%; net profit attributable to the parent company was 20.6775 million yuan, a year-on-year decrease of 43.02%; deducting non-net profit loss of 7.8816 million yuan, a profit of 30.4111 million yuan in the same period last year; the net cash flow generated from operating activities was 106 million yuan, a year-on-year decrease of 12.37%.
w88 online casino betting is a comprehensive listed company whose main business is the production and sales of natural drinking mineral water from Changbai Mountain, as well as garden landscape planning and design, garden engineering construction, garden maintenance and smart and environmentally friendly home furnishings. Regarding the reasons for the company's performance decline in the first half of 2024, w88 online casino betting pointed out in the financial report: "It is mainly caused by the large decline in the garden home furnishing auxiliary industry due to industry reasons."
According to the reporter's understanding, although some investors asked on the Shanghai Stock Exchange e-interactive platform "whether the company will divest the forestry and door industries to focus on the mineral water and liquor business," w88 online casino betting Company currently has no plans to divest its gardening and other related businesses. The company's response to this is that they currently adhere to the "one main and one auxiliary" industrial development strategy, in which the main business is the natural mineral water industry, while other businesses are considered non-main business sectors.
Focusing on the main business, w88 online casino betting is in the natural mineral water industry. According to statistics from the China Beverage Industry Association, w88 online casino betting ranks among the top three natural mineral waters and the top two bottled natural mineral waters in the country. Currently, there is only one listed company in the A-share market with mineral water as its main business. w88 online casino betting.
At the performance briefing held in September, w88 online casino betting said: "The overall sales volume of w88 online casino betting mineral water continues to grow, production capacity and sales volume are basically matched, and the production capacity utilization rate is relatively high. In recent years, it has continued to promote technical transformation or new projects to increase production capacity. Taken together, the company's production capacity construction and water source reserves can meet the needs of long-term development in the future."
Zhu Danpeng, vice president of the Guangdong Provincial Food Safety Promotion Association, told a reporter from Securities Daily: "w88 online casino betting currently has not achieved nationalization and omni-channel operation. It only has certain coverage in special channels such as airplanes and high-speed rail, and in mass mainstream It does not appear much in traditional channels. Therefore, its overall volume is small and its profits are low. In addition, w88 online casino betting is also involved in side businesses such as ginseng liquid and liquor. I think its development prospects are not promising given its weak main business, too many side businesses, and too long fronts.”
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