On the first trading day after the year, ST Kangdexin finally opened after 8 consecutive down-limits!
Today's opening, ST Kangde new one against the previous limit, the close at close at 4.17 yuan / share, an increase of 4.25%.
This is due to the positive release of the previous night. On the evening of February 10, ST Kangde New Reply to the bondholders' meeting decided that the “17 Kangde New MTN001” and “17 Kangde New MTN002” and interest will be paid on schedule according to the time specified in the prospectus.
At the same time, the company said that it will pay the "18 Kangde New SCP001" and "18 Kangde New SCP002" to pay the principal and interest before March 31, and agreed to provide additional guarantees of the company's actual controller Zhong Yu irrevocable.
ST Conde released 4 new bonds to pay for the latest progress
“17 Kangde New MTN001” and “17 Kangde New MTN002” are general medium-term notes issued by ST Kangdexin in February and July 2017 respectively. The issuance scale is 1 billion yuan, with a term of 5 years and 2022. period.
“18 Kangde New SCP001” and “18 Kangde New SCP002” are ultra-short-term financing credits, which were issued in April 2018. The issuance scale is 1 billion yuan, 500 million yuan, 270 days, and January 2019. period.
On January 21, Kang Dexin at that timeannouncementIt is said that because the main bank account is frozen, the company's stock triggers other risk warnings. Since the market opened on January 23, 2019, the company's stock trading has implemented other risk warnings. The abbreviation has been changed from "Kangdexin" to "ST Kangdexin". ".
Overnight, the white horse stocks of the past were taken by ST and became a member of the "wearing hat" army. The impact of this matter also includes the substantial default of the first and second phase of the ultra-short-term financing bills in 2018, and some creditors have frozen the company's bank accounts.
In this resolution to answer the bondholders' meeting, ST Kangde said that it will pay the interest of “17 Kangde New MTN001” and “17 Kangde New MTN002” and repay it on time; strive to pay before March 31. “18 Kangde New SCP001” and “18 Kangde New SCP002” shall pay the principal and interest, and provide the company’s actual controller Zhong Yu irrevocable joint and several liability guarantee.
ST Kangdexin said that the company will not maliciously evade debts, is actively raising funds to resolve liquidity risks, and agrees to provide credit enhancement measures for “17 Kangde New MTN001” and “17 Kangde New MTN002” bonds when appropriate. .
At the same time, it also stated that the company’s business with the group company is completely isolated and there is no majorReorganizationOr asset disposal plan, but actively introducing strategic investors; the company's management and core technical team remain stable overall; the Zhangjiagang government organized a bail-out of no less than 2.7 billionfundIt is advancing and has begun to engage with creditors.
Two surveys within 3 months
More than 100 billion yuan in market value evaporated more than 80 billion
While being "capped", ST Kangdexin received the "Notice of Investigation" from the Securities and Futures Commission on January 22, because the company was suspected of illegal disclosure of information. In less than three months, this is the second time that ST Conde has been investigated by the regulatory authorities.
Announcement on October 29, 2018, due to undisclosedshareholderThe concerted action relationship between the company and the controlling shareholder Kangde Group, the actual controller Zhong Yu, the shareholders holding more than 5% of the shares, Zhongtai Chuangying and its shareholder Zhongtai Chuangzhan were investigated by the CSRC.
According to ST Kangde's announcement of the investigation progress released on January 20th, the regulatory authorities are still investigating the above-mentioned cases and the large shareholders' occupation of funds of listed companies.
Being surveyed twice in a short period of time is undoubtedly worse for ST's Kang Dexin. Since the opening on January 23, Kangdexin has recorded 8 consecutive downs and closed at 4 yuan/share on the last trading day.
Just in November 2017, ST Kangde's new peak market value is nearly 100 billion, and now the latest market value is only 14.4 billion, more than 80 billion yuan evaporated in more than a year, the stock price fell more than 80%, terrible.
In August 2015, Zhong Jade, the chairman of ST Kangde New, had thrown a rhetoric in the face of media interviews: "The market value will reach 300 billion!"
On the evening of February 10, ST Kangde issued a notice of abnormal fluctuations in stock trading, saying that the company, controlling shareholder and actual controller did not have any major issues that should be disclosed but not disclosed; the information disclosed in the company's previous period did not need correction or supplement. The company does not violate the fair disclosure of information; the controlling shareholder and the actual controller did not buy or sell the company's stock during the period when the company's stock trading was abnormally volatile.
At the same time, it said that the company's recent short-term financing bills failed to be paid as scheduled. In order to maximize the benefits of bondholders, the company is accelerating the return of funds for funding arrangements and plans to pay in the near future. At present, the company's production and operation are all normal, the internal and external operating environment has not occurred and no major changes are expected.
2018PerformanceGreatly revised down
Controlling shareholderEquity pledgeNearly 100%
On January 30th, ST Kangdexin also released the 2018 Annual Results Announcement Amendment Announcement, which significantly revised its performance expectations.
It is expected to belong to the shareholders of listed companies in 2018Net profitFrom 396 million to 594 million, a year-on-year decline of 76%-84%.
Previously, the company predicted the 2018 annual results in the 2018 quarterly report. It is expected that the 2018 net profit range will be 2.722 billion to 3.217 billion, an increase of 10% to 30%.
For the significant revision of this performance, ST Kangde new name is affected by the market environment and financing environment in the fourth quarter of 2018, and the company is currently in the process of filing investigations and comprehensive self-inspection of enterprises, taking into account uncertainties and four factors. The quarterly operating results were lower than expected, and based on the principle of prudence, the company made asset impairment provisions.
The 2018 third quarter report shows that as of the end of the third quarter, ST Kangde new revenue of 10.8 billion, net profit of over 2.2 billion, bookcurrencyThe funds were 15.014 billion yuan, but the total liabilities amounted to 16.7 billion yuan, of which the total interest-bearing debt was 10.7 billion yuan. In terms of maturity, current liabilities were 12.1 billion yuan and long-term liabilities were 4.6 billion yuan.
With 15 billion in cash but not worth 1.5 billion yuan in debt, ST Kangdexin was questioned earlier and received a letter from the Shenzhen Stock Exchange. On January 20th, ST Kangdexin admitted in the announcement of the investigation progress of the CSRC that the company had funds occupied by major shareholders.
The data shows that among the top ten shareholders of ST Kangde, four shareholders hold shares.PledgeThe proportion is over 98%, and the total pledged shares account for 36.35% of the total share capital. Among them, Kangde Group, the controlling shareholder of ST Kangde, has a shareholding pledge of 99.45%, accounting for 23.91% of the company's total share capital.
a group of institutions stepping on thunder
Existing institutions and foreign capital fleeing
According to public information, Kangde New Composite Materials Group Co., Ltd. was established in August 2001 and landed on the small and medium-sized board on July 16, 2010. It is a high-tech material enterprise, mainly engaged in research and development, production and sales of advanced polymer materials.
ST Conduit was once considered to be the leader in the new materials industry. Its 2018 annual report shows that the company's main customers include BMW, Apple, Samsung, Mercedes-Benz, Wuliangye and other domestic and foreign giants.
Since its listing, ST Kangde's new performance has grown by leaps and bounds, and its share price has risen step by step. It has risen nearly ten times and hit a record high of 26.67 yuan per share in 2017, and has successfully ranked among the 100 billion market capitalization companies.
ST Kangdexin has also been favored by a number of institutions. The latest information shows that its shareholders list not only has securities, Huijin, but also foreign capital bought through the land, as well as public offerings, trusts,BrokersetFinancial managementAnd other institutional shareholders.
And two trading days before the Spring FestivalDragon and TigerIt shows that ST Kangde’s new selling list is the first institution-specific seat, and the selling amount exceeds 100 million yuan.Deep shareThe sales amount of special seats exceeded RMB 49 million.
(Article source: China Fund News)