"The house leaks all night," this sentence is used to describe today'sBeixun Group(002359, SZ) I am afraid it is not an exaggeration. I started litigation and started last year.shareholderAfter the shares were frozen and other matters, the litigation matters involved in the Beixun Group continued to increase. In addition, the company partbankAccounts and related assets are also frozen.
As the issuer of the bond market, the main credits of the Beixun Group and the related debt credit ratings have also been continuously lowered. "Daily Economic News" reporter noted that the joint credit rating company (hereinafter referred to as the joint rating) released recentlyannouncementSaid: "Beixun Group involved in litigation and the amount of application for freezing increased rapidly, and the credit situation continued to deteriorate; At present, Beixun Group is under tight capital and there is a lot of pressure on its interest payment on time. The joint rating determines the main body and debt of Beixun Group. The credit rating was lowered from BBB+ to BB and the rating outlook was adjusted to negative."
Based on this, the joint rating also lowered the debt credit rating of “18 Beixun 01”, “18 Beixun 03” and “18 Beixun 04” from BBB+ to BB, and adjusted the rating outlook of Beixun Group to “negative”.
The China Bond Valuation Center has also adjusted the implied rating of the China Bond Market's bond market-bond debt rating from BB to B- in light of the latest developments in the issuer's financial operations.
According to the relevant provisions of the “18 Beixun 01” bond, Beixun Group should also pay “18 Beixun 01” interest of RMB 60 million on January 19, 2019 (with a current bond balance of RMB 700 million, the current issue).interest rate8% calculation).
In fact, this is not the first time that the main credit rating of Beixun Group has been lowered. The data shows that since the main credit rating was downgraded one level to AA- in September 2018, Beixun Group has been downgraded the subject credit rating four times in a row, down a total of 9 levels, to today's BB.
At present, the problems faced by Beixun Group are quite numerous. On January 3, 2019, Beixun Group disclosed that the company had 7 new litigation matters, all of which were in the trial stage of “the court has accepted”; one new case was added and the enforcement notice has been received.
Beixun Group also added three frozen bank accounts, and the company’s initial judgment was that the new bank account was frozen and related to corporate debt. As of the disclosure date of the above announcement, the total amount of applications frozen by Beixun Group and its subsidiaries was 2.28 billion yuan, accounting for 37.45% of the company's latest audited net assets. The actual frozen amount was 84.841 million yuan, accounting for the latest audit of the company. 1.39% of net assets.
In this regard, Beixun Group said that the litigation and the freezing of the bank account will have certain impact on the normal operation and operation of the company. It is impossible to judge the company before the judgment is made and the court is effective without a jurisdiction. The impact of the profit or the profit after the period.
In addition, Beixun Telecom Co., Ltd. (hereinafter referred to as Beixun Telecom), a wholly-owned subsidiary of Beixun Group, recently received the "Civil Ruling" and "Assistance in Implementation Notice" from the Higher People's Court of Jiangxi Province. Iron Capital Investment Management Co., Ltd. (hereinafter referred to as Xingtie Capital)'s property preservation application, the court held a judicial freeze on the company's 99.999% stake in Beixun Telecom, corresponding to the capital contribution of 2.399976 billion yuan, the freezing period is three years.
Beixun Group said that because the assets of the frozen shares far exceeded the target amount of 211 million yuan, the company has submitted an application for property preservation reconsideration to the Jiangxi Higher People's Court. The judicial freezing of the shares will not affect the daily business activities of the company and its subsidiaries, and will not cause the company to change the ownership of the above-mentioned subsidiaries.
The “Troubled” Beixun Group received a letter of concern from the Shenzhen Stock Exchange on the evening of January 9. The Shenzhen Stock Exchange requires it to provide written explanations on matters such as litigation matters and the freezing of some bank accounts.
(Article source: Daily Economic News)