Stepping on the tail of the Lunar Year of the Dog, Oriental Golden Jubilee was released on the evening of February 1.announcementIts holdingshareholderThe ownership structure of Xinglong Industrial will be changed. Zhao Ning and Wang Wei intend to transfer 100% of the shares of Xinglong Industrial held by them to China Lantian Headquarters (referred to as China Lantian). Upon completion of the transfer, China Lantian will indirectly hold 31.42% of the shares of Oriental Jinlu, and the actual controller of the company will be changed to China Lantian.
The news that the first stone provoked a thousand layers of waves, and the Oriental Jinyu intends to change the owner has aroused widespread concern in the industry. On February 10, the Shanghai Stock Exchange issued an "inquiry letter" to Dongfang Jinlu, requesting to explain the specific meaning of China Lantian as "the enterprise-owned enterprise under the leadership of the Ministry of Agriculture"; the representative of China Lantian legal person Qi Zhaoyu and China Lantian and the delisted company The relationship between Lantian shares and other issues.
Relationship with Lantian shares
According to the previous announcement by Oriental Jinlu, China Lantian was incorporated on the Beijing Administration for Industry and Commerce on March 6, 1989. It was formerly known as “China Agricultural Materials Supply and Marketing Corporation” and was changed to its current name in January 1998.
At present, China Lantian has a registered capital of 400 million yuan. It is a state-owned enterprise and the investor is the Ministry of Agriculture. In addition, the registered address of China Lantian is located at No. 11 Nanli, Agricultural Exhibition Hall, Chaoyang District, Beijing. The legal representative is Zhao Zhaoyu.
According to China Lantian's official website, the company is a large-scale central enterprise with the ownership of the whole people approved by the State Administration for Industry and Commerce. It is a direct unit of investment by the Ministry of Agriculture. It is a large-scale comprehensive state-owned enterprise that mainly serves agriculture, rural areas, farmers, asset management and scientific and technological development. The pilot unit of asset management is the only large-scale comprehensive enterprise group company in the agricultural and rural areas in China.
"China Lantian" is reminiscent of the Lantian shares that have been delisted. In 2001, an article in the media broke through the myth of Lantian. Lantian was also terminated in 2003, and then entered the agency share transfer system in 2004. Lantian's 2000 annual report shows that the company's director and general manager was named Zhao Zhaoyu.
It is worth noting that in the inquiry letter issued by the Shanghai Stock Exchange to the Oriental Golden Jubilee, the focus of attention was on the relationship between Lantian and the Ministry of Agriculture and Rural China, Lu Zhaoyu and China Lantian Corporation and the delisted company Lantian. Relationships and other aspects.
The Shanghai Stock Exchange's "Inquiry Letter" requires that Oriental Jinyu explain that the actual controller Zhao Ning and China Lantian clearly state the composition of their actual controllers and shareholders, and provide valid industrial and commercial registration documents.
At the same time, Dongfang Jinyu needs to explain the relationship between Yan Zhaoyu and China Lantian and the delisted company Lantian. Whether there is a situation of being listed as a dishonor or other non-acquisition listed company; whether there is a situation in China Lantian that does not acquire a listed company.
Fundamental is hard to say optimistic
From a fundamental point of view, the current operating status of Dongfang Jinlu is difficult to be optimistic. The announcement on January 15th shows that the company’s overdue principal due to maturity has a total of 1.67 billion yuan. Oriental Jinyu claimed that it is actively communicating with relevant parties, negotiating proper solutions, striving to reach a debt settlement plan, and making full efforts to raise debt repayment funds.
At present, Oriental Jinyu has issued a notice, 2018Net profitIt will lose 900 million yuan to 1.1 billion yuan. forPerformanceA large pre-loss, Dongfang Jinluo said that due to the overdue debt of 2018, the significant impact on the operation of listed companies, the loss of performance before the loss of recurring profit and loss, mainly due to the large amount of interest due to the large amount of interest; Provision for asset impairment losses.
Misfortunes are not alone, due to information disclosure violations, Oriental Jinyu also received a notice of investigation of the China Securities Regulatory Commission on January 16. At the same time, the major assets of Oriental JinluoReorganizationIt was also affected. Prior to this, Oriental Jinyu intends to purchase assets such as 100% equity of Ruili Sister Jinlong Real Estate Development Co., Ltd. and Ruili Venus Jade Jewelry Trading Market through its designated subsidiaries.
On January 23, Dongfang Jinyu was reluctant to announce that due to the investigation by the China Securities Regulatory Commission, it had recently faced a large amount of debt due and the underlying assets were in a state of mortgage or freezing, and finally decided to terminate the previous major asset restructuring.
After the reorganization, Oriental Jinxuan immediately announced the news of equity changes, and said in the announcement that China Lantian promised to fully support listed companies to continue to promote debt restructuring, including but not limited to providing cash flow turnover, granting credit to newly acquired financial institutions. Provide measures such as guarantees and credit enhancement to restore the profitability of listed companies. After the completion of the reorganization, the original joint controlling shareholder and its concerted action personnel were exempted from the individual joint guarantee liability provided by the target company and the listed company.
After the approval of the equity of the target company by China Lantian, the actual controller of Dongfang Jinyuan is guaranteed to remain in the listed company, and is responsible for the operation of the original listed company within the scope of authorization of China Lantian, namely the processing, wholesale, retail and so on of jade jewelry. . China Lantian will make full use of its own advantages to inject high-quality assets into listed companies, and help listed companies to resume normal profitability through restructuring, but there is no specific restructuring plan.
In response to China Lantian's commitment, the Shanghai Stock Exchange's "Inquiry Letter" requires Dongfang Jinluo, the actual controller of the listed company Zhao Ning and China Lantian to clearly state the current financial status and main operating data of China Lantian, the equity acquisition and the intention to undertake Xinglong Industry The specific source of funds for the debt; China Lantian provides the company with specific funding sources for cash support and guarantee credit, and whether it has the corresponding commitment to fulfill its capabilities.
On the evening of February 10, Dongfang Jinlu issued a risk warning announcement on the proposed change in the shareholding structure of the controlling shareholder. It is currently verifying the relevant matters, and there is still uncertainty, and the decision of the counterparty and the approval process are not excluded. By the possibility of not being able to complete the change.
(Article source: Securities Times)