New Town Holdings disclosed a 24-hour panic insider list has been submitted

category:Finance
 New Town Holdings disclosed a 24-hour panic insider list has been submitted


New Town Holdings Denies Violatory Transactions

New Town Holdings denied the insider information and illegal transactions that were widely concerned by the outside world. It said that the company had registered all the information such as the name, time and content of the person who knew the company, when it learned that Wang Zhenhua, the former chairman of the company, had been taken compulsory measures. According to the investigation of the company and insider information insiders, there are no cases of early disclosure of insider information and illegal transactions (including collective bidding and bulk transactions) for both the company and insider information insiders.

The marketing department is organizing a sales plan.

In the evening announcement of July 8, New Town Holdings also disclosed in detail the companys borrowing and the measures to be taken.

According to the announcement, as of June 30, 2019, the borrowing amount in the merger scope of New Town Holdings was about 90 billion yuan, of which the open market financing balance was about 42 billion yuan, including about $1.8 billion in overseas issuance of US dollar bonds, about 16.1 billion yuan in inter-bank debt financing instruments, and about 13.7 billion yuan in exchange bonds.

As of June 30, 2019, the saleable value of the companys equity is about 580 billion yuan, of which the saleable value in the second half of 2019 is about 220 billion yuan. At present, the companys marketing department is actively organizing sales plans, sorting out saleable resources, speeding up sales progress, in order to increase sales back.

At the same time, the companys saleable value is calculated by area weight, and about 70% of its inventory has not yet been mortgaged. The aforementioned Wuyue Plaza and inventory can provide sufficient collateral for subsequent financing. In the future, the company will take a cautious attitude towards new land acquisition to improve the financial pressure.

Regarding the risk of equity pledge questioned by the outside world, Xincheng Holdings responded that as of the date of reply to this letter, the number of shares of Fuyu Developments accumulative pledge company was 706195580, accounting for 51.25% of its holdings and 31.29% of its total share capital; the number of shares of Changzhou Deluns accumulative pledge company was 65200 000, accounting for its holdings. 47.31% of the total shares, accounting for 2.89% of the total shares of the company.

Xincheng Holdings said that the replenishment line of such Pledged Shares as a whole has a greater margin of safety than the closing price of the previous trading day. For example, the continued decline of the companys stock price leads to the need for replenishment of such pledged shares. Fuyu Development and Changzhou Derun have a total of 744404420 shares of the company that have not been pledged, which can be used for replenishment. The possibility of default disposal is low, and there is no risk of default disposal of stock pledge and the change of controllers.

In addition, early yesterday, New Town Development Holdings also announced that Wang Zhenhua resigned as the companys executive director and Qu Dejun as the companys executive director and vice-chairman.

Formula New Town System evaporated nearly 30 billion yuan on July 4, the New Town System of the capital market almost completely fell, and some corporate bonds issued by New Town Holdings also fell sharply. According to the stock price on July 4, the total market value of the three listed companies in Xincheng on July 3 and July 4 has evaporated by nearly 30 billion yuan. Following the first downward valuation of New Town Holdings on July 5, on July 9, Dongfang Red Capital Management issued a further announcement, saying that, after consulting with the fund trustee, since July 8, the value of New Town Holdings held by its fund continued to be downgraded and valued at 25.21 yuan per share. Source: Guo Chenqi_NBJ9931, responsible editor of Beijing Youth Daily

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Accumulative Evaporation of New Town System

Nearly 30 billion yuan

On July 4, the New Town System of the capital market was almost completely occupied, and some corporate bonds issued by New Town Holdings also fell sharply. According to the stock price on July 4, the total market value of the three listed companies in Xincheng on July 3 and July 4 has evaporated by nearly 30 billion yuan.

Following the first downward valuation of New Town Holdings on July 5, on July 9, Dongfang Red Capital Management issued a further announcement, saying that, after consulting with the fund trustee, since July 8, the value of New Town Holdings held by its fund continued to be downgraded and valued at 25.21 yuan per share.