After the former chairman was taken compulsory measures for suspected crimes, the Kangde new incident continued to ferment.
*ST Kangde(002450) In the tens of billions of funds, the company’s controlling shareholder, Kangde Investment Group (referred to as “Kangde Group”)Bank of BeijingThe "Cash Management Business Cooperation Agreement" signed by Xidan Branch (referred to as "Xidan Branch") has become the focus of public opinion.
*ST KangdeAnnouncement on the evening of May 15th, the company has submitted to May 14thBank of BeijingXidan Branch issued a business letter stating that the "Cash Management Business Cooperation Agreement" was invalid at the beginning due to violation of the law, requiring the restoration of the independence of the corresponding sub-account and retaining the right to take further legal action to safeguard the interests of the relevant company. The management of the company has filed a complaint with the regulatory authorities regarding the violations of Xidan Sub-branch.
November 2017,*ST KangdeThe market value once reached nearly 100 billion. As of May 15, the closing market value has shrunk to 12.39 billion yuan.
Directly pointing out that the agreement violation is invalid
Two rounds of inquiries from the Shenzhen Stock Exchange*ST KangdeStored inBank of BeijingThe main purpose of the 12.21 billion monetary funds and*ST KangdeQuestioning the issue of signing a cash management agreement with Xidan Branch.
Although*ST KangdeI have responded to the inquiry twice, but the funds are still in the fog. On the evening of May 15th,*ST KangdeThe disclosure of the progress announcement revealed that the company had issued a "Business Letter" to Xidan Branch on May 14. Contrary to the ambiguity of responding to the exchange’s inquiries earlier, in the Business Letter disclosed this time,*ST KangdeIt is directly recognized that the "Cash Management Business Cooperation Agreement" is a violation agreement and is invalid from beginning to end.
"Business Letter" shows that*ST KangdeThe controlling shareholder Kangde Group and Xidan Branch signed the "Cash Management Business Cooperation Agreement", the company and its three subsidiaries (Zhangjiagang Kangdexin Photoelectric Material Co., Ltd., Zhangjiagang Free Trade Zone Kangdefeier Industrial Co., Ltd., Beijing Kangdexin) Photoelectric Materials Co., Ltd.) joined the cash management service network as a member unit under the agreement.
According to the company's self-examination, the "Cash Management Business Cooperation Agreement" does not meet the requirements of Article 68 of the Listed Corporate Governance Guidelines (2018) on the independence of listed companies.
According to the regulations, “the controlling shareholder, the actual controller and the listed company shall be separated from personnel, assets and finance, and the institutions and businesses shall be independent, and each shall independently account and independently assume responsibility and risks”.*ST KangdeIt is believed that the aforementioned agreement seriously violates the financial independence of listed companies, which greatly damages the normal operating conditions of the company and the vital interests of the majority of shareholders.
In addition, "CommercebankArticle 6 of the Law (Revised 2015), BusinessbankThe legitimate rights and interests of depositors should be protected from any unit or individual, and the "Cash Management Business Cooperation Agreement" violates laws and regulations, resulting in the loss of monetary funds of the company and its three subsidiaries.*ST KangdeIt is believed that the "Cash Management Business Cooperation Agreement" is invalid from the beginning due to violation of the law in accordance with the relevant provisions of the "Contract Law of the People's Republic of China".
*ST KangdeProposing to Xidan Sub-branch, formally notify it to immediately cancel the "Cash Management Business Cooperation Agreement", withdraw from the cash management service network, and restore the independence of the corresponding sub-accounts, please cooperate with Xidan Sub-branch.
Exchange twice questioned
On the next move,*ST KangdeIt said that the management of the company has made a complaint to the regulatory authorities about the violations of Xidan Sub-branch, and will follow further measures in accordance with relevant national laws and regulations to safeguard the legitimate rights and interests of the company and reduce losses to the company, creditors and investors.
Back to the original,*ST KangdeThe latest "Thunderstorm" stems from the fact that the balance of 12.2 billion yuan in the 2018 annual report was "out of the box".
According to*ST KangdeIn the 2018 annual report, as of the end of the reporting period, the company's book currency funds were 15.316 billion yuan, of which 12.21 billion yuan was deposited in Xidan Branch. However, the above annual report was issued by the accounting firm as a non-standard opinion.*ST KangdeThe independent directors Zhang Shuhua, Yang Guangyu and Chen Dong strongly questioned whether there was a real deposit of 12.21 billion yuan. The Shenzhen Stock Exchange also sent a letter twice to ask about the whereabouts of the huge sum of billions of dollars.
*ST KangdeI have responded to this question twice. On May 7, Kangdexin responded to the exchange and said that Xidan Branch’s reply to the accounting firm showed:bankDeposit account balance is 0 yuan, the account has a linked account business in our bank,bankThe amount of the collection is 12,209,443,476.52 yuan."
May 10,*ST KangdeResponding to the exchange’s enquiry, it does not rule out the possibility that the company’s funds will be deposited into the accounts controlled by the Conde Group and its affiliates through the Cash Management Cooperation Agreement. As the company was unable to verify the cash flow of the Conde Group account, the company is currently unable to determine whether the company's funds have been non-operating by the Conde Group.
As of May 15,*ST KangdeThe latest market value has shrunk to 12.39 billion yuan; this week*ST KangdeHas been three successive downs, the latest closing price of 3.5 yuan / share.
The following is the full text of the announcement:
(Article source: e company)