The seizure of Zhonghong Changbai Mountain is just the tip of the iceberg that reveals the heavy debt crisis of Zhonghong. The life cycle of a shares retired by Zhonghong has only lasted for eight years, and it has finally become the first 'par value delisted shares' in history, leaving a lot of topics for the capital market! Come and have a look.
It is reported that a subsidiary of Beijing urban construction applied for property preservation before the lawsuit to seal up the house developed by Zhonghong Real Estate Co., Ltd. in Changbaishan protection and Development Zone, which was approved by the court for execution. The period of seizure shall be three years. During the seizure, no transfer, transfer or other rights shall be allowed.
At present, the company is in the delisting consolidation period. If there is no accident, December 27 will be the last trading day for the company to withdraw from the a share market.
Due to the closing price of less than 1 yuan for 20 consecutive trading days, the Zhonghong shares were finally delisted, becoming the first individual share delisted due to the share price falling below the face value of A share.
On November 16, the abbreviation of Zhonghong shares (000979. SZ) was changed to "Zhonghong withdraw" and entered the delisting consolidation period. This means that 30 trading days later, the real estate company listed in St Science Park in 2010 will be officially terminated due to the debt crisis.
In the evening of November 22, the company announced that as of the announcement date, the accumulated overdue debt principal and interest of the company and its subsidiaries were 8.591 billion yuan, all of which were loans of various types. According to the announcement, if the company fails to properly solve the overdue debts, it may be sued, arbitrated, bank accounts frozen, assets frozen and other matters, and more creditors may also be sued (arbitrated) for taking property preservation measures.
According to the financial report, the operating revenue of ZH in 2017 was 1.016 billion yuan, down about 77% year on year, and the net profit was - 2.511 billion yuan, down about 1688% year on year. In January & ndash; March 2018, the operating revenue of Zhonghong Co., Ltd. was RMB 1.15 billion, an increase of 19.36% year on year. However, due to the significant increase of financial expenses and management expenses year on year, the net profit was RMB - 315 million, a decrease of about 3621% year on year.