Ming Le Sports

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Ming Le Sports AG
legal form Corporation
ISIN DE000A2LQ728
founding November 2, 2011
Seat Heidelberg , GermanyGermanyGermany 
management
Number of employees 0 (line only)
sales 0 million euros (2018)
Branch Holding company
Website www.minglesports.de
As of December 31, 2018

The Ming Le Sports AG is a German holding company with headquarters in Heidelberg . The core business is participation in companies that manufacture and sell shoes, clothing and accessories as well as sporting goods. The company's share is traded in the General Standard and is included in the CDAX .

history

The Ming Le Group was founded on September 21, 2011 by way of a contribution in kind . After the establishment of an intermediate holding company in Hong Kong , the German Ming Le Sports AG was entered in the Frankfurt Commercial Register on November 2, 2011. On July 28, 2006, the company went public on the Prime Standard of the Frankfurt Stock Exchange . In the 2012 financial year, 1310 employees achieved sales of EUR 126.7 million. In the middle of 2016, the company's headquarters were relocated from Frankfurt am Main to Bad Vilbel . In June 2017 it was reported that the German parent company has apparently lost control of the manufacturing subsidiaries in China. The stake in Fujian Mingle Sportswear Co Ltd was completely transferred to a third party without the knowledge and consent of Ming Le Sports AG. There were no indications as to whether and in what amount a consideration was agreed or provided. The move to Heidelberg was completed in October 2017. In March 2019, the Federal Financial Supervisory Authority imposed fines of 136,000 euros on Ming Le Sports AG for violating publication obligations.

Criticism of the business model and share price development

In November 2017, the German business magazine Capital criticized the business model of Chinese companies that went public through a holding company in Germany. The “ scandal record of the China crackers ” is the fact that in the ten-year period since 2007, 17 of a total of 20 IPOs in Frankfurt have resulted in “ quasi total losses ”. Chinese companies in Germany raised EUR 330 million in equity, and investors made losses of 98% on average. As of 2017, Ming Le Sports AG had no operating business and no audited consolidated financial statements but a balance sheet loss in the millions.

Web links

Individual evidence

  1. ↑ commercial register of Ming Le Sports AG from Heidelberg (HRB 728857). In: www.online-handelsregister.de. Retrieved November 6, 2019 .
  2. ^ Ming Le Sports AG, Heidelberg. In: www.northdata.de. Retrieved November 6, 2019 .
  3. ^ Ming Le Sports AG, Heidelberg - company information. In: www.firmenwissen.de. Retrieved November 6, 2019 .
  4. ↑ a b organs. In: www.minglesports.de. Retrieved November 6, 2019 .
  5. ↑ a b c Annual Report 2018. (pdf) In: www.minglesports.de. Retrieved November 6, 2019 .
  6. ^ Share information: Ming Le Sports AG. In: www.boerse-frankfurt.de. Retrieved November 6, 2019 .
  7. ^ IPO in the Prime Standard: Ming Le Sports AG. In: www.innovations-report.de. July 6, 2012, accessed November 6, 2019 .
  8. ^ GoingPublic editorial team: Ming Le Sports AG Archive. In: GoingPublic.de. Retrieved November 6, 2019 .
  9. ↑ Annual Report 2012. (pdf) In: www.minglesports.de. Retrieved November 6, 2019 .
  10. ^ Ming Le Sports AG - company headquarters. In: www.northdata.de. Retrieved November 6, 2019 .
  11. ^ Ming Le Sports AG: Ming Le Sports AG: Chinese production company presumably sold. In: www.pressetext.com. June 27, 2017, accessed November 6, 2019 .
  12. ↑ Ming Le Sports AG - Address · Relocation: Ming Le Sports AG · Management Board: Hsiao-Tze Tsai · Capital · Purpose of the company · Articles of association · Representation regulations. In: www.northdata.de. Retrieved November 6, 2019 .
  13. ↑ BaFin News: Ming Le Sports AG: BaFin sets fines. In: www.finanznachrichten.de. Retrieved November 6, 2019 .
  14. ↑ Thomas Bremer: Ming Le Sports AG: BaFin sets fines. In: www.diebeval.de. April 16, 2019, accessed November 6, 2019 .
  15. ↑ a b IPOs: Horror balance of German share issues. In: Capital.de. November 23, 2017. Retrieved November 7, 2019 .