Prior to the resumption of trading, the fund companies have given an estimated value of up to 22 stops and falls. More than 40 institutions, including securities companies, social security funds, Dacheng and Penghua, have trampled directly.
The four major inquiries of the Shanghai Stock Exchange need to be answered urgently
On the evening of July 11, * ST Xinwei announcement will resume trading on July 12 and continue to promote this major asset restructuring. On the evening of July 7, * ST Shinwei gave a warning of the reinstatement.
Before the resumption of trading, the Shanghai Stock Exchange also issued a regulatory letter requesting * ST Credit to answer several major questions:
1. In view of the uncertainties faced by the restructuring, including but not limited to the freezing of the shares of the trading target, the freezing of the shares of the underlying assets, the examination and approval of anti-monopoly, and the non-standard opinions of audit reports, the company fully evaluates the feasibility of continuing the restructuring and specifies the time points for promoting the restructuring.
2. Comprehensive evaluation of the companys current actual operation status, including: the actual production and operation status of the company and its subsidiaries, verifying whether there are major risks and anomalies that have not been disclosed; the performance status of the board of directors, members of the board of supervisors and senior managers of the company, whether the institutions can operate normally and make effective decisions; and corporate control. The actual situation of the right indicates whether there are other situations that affect the stability of the companys control rights.
4. At present, the company has not completed the impairment test of Beijing Credit Prestige according to the previous agreement and determined the additional compensation amount accordingly. Please clarify the specific schedule of impairment testing.
Originally thought it was only a temporary suspension, but in April 2017, Xinwei Group, which has been suspended for four months, issued another announcement that it would restructure its major assets and continue to apply for suspension. The assets to be acquired are the controlling rights of Beijing Tianjiao Aviation Industry Investment Co., Ltd. owned by the controllers Wang Jing and Du Tao or the assets under Beijing Tianjiao.
After the disclosure of the annual report in 2018, * ST prestige triggered two warning conditions for delisting risk: the net profit was negative for two consecutive years, and the audit report issued by the accounting firm could not express its opinion. Since April 30, * ST Credit has implemented delisting risk warning.
Up to 22 drop stops are expected
* Before the suspension of ST Credit, the total market value was 42.7 billion yuan, but now it has been downgraded by more than ten fund companies. On July 9, the lowest valuation given by ABC Huili Fund Company was only 4.73 yuan per share, while before the suspension, the share price was 14.59 yuan per share, equivalent to 22 drop stops.
Data show that most of the funds have been reduced to 6.28 yuan, which is only 57% of the price of 14.59 yuan before the suspension. Industrial Bank Credit Suisse, Construction Credit Fund and other fund companies give * ST Credit 5.65 yuan valuation.
With the resurgence of * STs prestige, Wang Jing, a mysterious businessman who once chattered behind it, has become the focus of public opinion.
In addition to planning to develop the Nicaraguan Canal, there have been satellite launches and deepwater port construction projects since then. Every time Wang Jing invested heavily, the market has attracted great attention.
According to industry and Commerce data, Wang Jing served as the chairman of Tianjiao Aviation Industry Investment Company, Hong Kong Nicaragua Canal Development Investment Company and China Overseas Security Group, and was the legal representative of Beijing Guanwei Sports Culture Exchange Co., Ltd. From the perspective of business scope, it covers investment, private security, infrastructure, cultural industries and other industries.
Beijing Tianjiao, the target of this major restructuring, is Wang Jings industry, which is mainly engaged in aero-engines.
Source: Ren Hui_NBJ9607, Responsible Editor of China Securities Daily