Why is the stock price so low? Business development is not smooth, and the decline in goodwill is the main factor.

Have you ever used "2345.com"? Once this navigation website was still very popular, covering many functions and small websites, but now its listed company is not good, and its share price has dropped from 70 to 2. What is the reason?

Established in September 2005, Shanghai 2345 Network Technology Co., Ltd. is a leading Internet enterprise integrating Internet operation and software development in China, with high-level products, operation team and strong capital strength.

2345 owns 2345 website navigation, 2345 software encyclopedia (origin point software station), 2345 good pressure, 2345 browser, 2345 map king, 2345 film encyclopedia and other well-known websites and software products.

I believe that these products, if not used in previous years, are at least known. In 20 19, the business of internet financial services was adjusted. In 20 18, the income of internet financial services was as high as 1800 million yuan, while in 20 19, it was only 65,438 billion yuan.

It's not finished. In 2020, the company expects that the operating income will drop from about 24.41billion yuan in 20 19 to10.50 billion yuan to10.40 billion yuan, and the net profit attributable to the mother will be in the range of 806 million yuan to 998 million yuan, which is 210 in the same period.

In addition to the crazy decline in performance, the company's goodwill has also been greatly reduced. In 20 14, Hilong Software, the predecessor of 2345, acquired 0/00% equity of Shanghai 2345 Network through major asset restructuring, completing the transformation from a software outsourcer to a comprehensive platform for software and Internet. But at the same time, the company also formed a goodwill of 2.4 billion yuan.

In addition, in 20 15, the management of the company decided to enter the field of internet finance and give full play to the advantages of the company in terms of users, channels and internet platform operation. By the end of 20 17, the company's financial business has basically formed related financial products covering personal consumption finance, automobile consumption finance and commercial finance.

However, with the tightening of the supervision of mutual gold business, 2345 obviously caught up with the last bus of the industry. When the financial business started to expand, it began to shrink again. 20 18 terminated the "king of loans" business and stopped the cash loan business. The company also suffered major setbacks in cash loans and blockchain.

In short, the share price of 2345 has been in a downturn, which has a lot to do with the company's business development and the decline of goodwill in recent years. However, 2345 has been actively repurchasing stocks recently, indicating that there should be no problem in terms of funds, and there is also the possibility of counterattack.