CNDSN January 20th news  (Yangcheng Evening News) International recently issued a profit warning, expected to last year will continue to record the net operating losses. The first 11 months of 2014, the overall sales decline over the same period about 38%.

“董事相信截至2014年12月31日全年的经营净亏损主要是由于生产和销售家庭个人护理产品持续经营业务销售收入下跌。在2014年前11个月期间内，整体销售比2013年同期下降约38%。尽管如此，由于集团从2012年下半年采用的价值链导向商业模式，各种节约成本措施有助2014年前11个月的经营净亏损比2013年同期减少约50%。”

"The directors believe that by the end of December 31, 2014 full year net operating loss is mainly due to the production and sale of household personal care products for continuing operations sales revenue fell. In the period before 2014 11 months, overall sales are down about 38% compared to the same period in 2013. However, as the group from the value chain oriented business model by the second half of 2012, various cost saving measures are business reported a net loss of 11 former help 2014 month is about 50% less than the same period in 2013."

作为知名品牌，霸王曾辉煌一时，但自从2010年的“二恶烷”事件后，霸王似乎“一蹶不振”。公司当年收入业绩双双跳水，全年营业额为14.75亿元，下降16%。

As a famous brand, King Ceng Huihuang temporarily, but since 2010 "dioxane two" after incident, the overlord seems unable to get up after a fall "". The company that year revenue plunged, the annual turnover of 1475000000 yuan, down 16%.

此后，霸王一直未能爬出亏损的泥淖，2011年营业额为8.89亿元，下降39.7%，录得亏损5.59亿元；2012年营业额进一步下滑37.5%至5.56亿元，录得亏损6.18亿元，2013年年度的营业收入额约为4.7亿元，同比下降约11.3%，而净利润亏损则约为1.36亿元；而即将迎来的2014年数据估计也不会太乐观。羊城晚报记者查询发现，这已经是上市六年来的霸王集团发布的第五次业绩预警。

Since then, the overlord has failed to climb out of the quagmire of losses, in 2011 turnover of 889000000 yuan, down 39.7%, recorded a loss of 559000000 yuan; 2012 turnover decline further in 37.5% to 556000000 yuan, recorded a loss of 618000000 yuan, in 2013 annual revenue of about 470000000 yuan, about 11.3% year-on-year decline, while net profit loss is about 136000000 yuan; 2014 data and the upcoming estimates will not be too optimistic. The Yangcheng Evening News reporter found inquires, this is already the fifth issued listing six years overlord group times the performance of early warning.

事实上，一直以来霸王都试图以多元化经营的方式自救，但如今看来，结果不甚理想。2009年，在香港上市后，霸王集团逐步扩大产品线，实行“中药快消战略”，最终打造了三个洗发水品牌(霸王、丽涛、追风)，两个护肤品品牌(本草堂、雪美人)，一个凉茶品牌(霸王凉茶)。2013年7月，凉茶因销售业绩问题被终止。而沐浴露及护肤品市场表现也平平，目前公司仍以洗发水产品为主要业务，霸王和追风两个洗发水产品贡献了公司总收入的八成左右。

In fact, all the time since bullies are trying to the diversification of the way of self-help, but now it seems, the result is not very ideal. In 2009, listed in Hongkong, Overlord group gradually expanded the product line, the implementation of "traditional Chinese medicine fast elimination strategy", and eventually create three shampoo brand (fighter, Li Tao, wind), two skin care brand (Herborn, snow beauty), a herbal tea brands (Bawang herbal tea). In 2013 July, the herbal tea was terminated because of sales performance problems. And bath and skin care products market performance is mediocre, at present the company is still in the shampoo products for the main business, the overlord and herd two shampoo products contributed 80% of the company's total revenue.

值得一提的是，去年5月份开始，霸王曾一度被传正在申请进入直销行业。内部人士透露，霸王集团已经向商务部提交了直销申请资料，2000万元保证金也交了，但因为商务部还没有发布其申请直销声明，故一直没有对外公开。对此，霸王集团公关总监汪亮回应羊城晚报称，短期内霸王转型直销是“不可能的”，他表示，霸王如今拥有数以万计的经销商和几十万销售网点，“如果说做直销，那对于我们此前搭建起来的传统渠道简直是毁灭性的打击，我们不会这样‘自寻死路’。”尽管如此，事后霸王依然多次被传试图向直销转型自救。▲

It is worth mentioning that started last May, king was once passed apply to enter the direct selling industry. Internal sources, Overlord group has submitted application materials to the Ministry of Commerce direct, 20000000 yuan deposit paid, but because the Ministry of Commerce has not released its apply direct statement, therefore has not publicly. In this regard, Overlord group public relations director Wang Liang to respond to the Yangcheng Evening News said, the short term fighter transition direct is "impossible", he said, King now has tens of thousands of distributors and hundreds of thousands of sales outlets, "if do direct sales, for the traditional channels that we had built up is absolutely devastating blow, we won't be so 'suicidal'." Nevertheless, after the fighter still repeatedly been pass trying to save himself turning to direct marketing. *

（原标题：霸王国际：近期发布盈利预警 曾一度被传申请进入直销行业）

(original title: International: recently issued a profit warning had been spread application to enter the direct selling industry)

责任编辑：宝蓝

Editor: Blue