The losing company in Shandong Jintais shelling campaign has been losing money for two consecutive years.

category:Finance
 The losing company in Shandong Jintais shelling campaign has been losing money for two consecutive years.


On the evening of August 8, Jintai, Shandong Province, announced the termination of major asset restructuring announcements and decided to terminate the acquisition of 51% of Mackay Chi-made shares. On the 9th, Shandong Jintai Securities Department staff told Xinjing News, We are still actively trying to find new projects, investors should also be looking for, we are actively trying to do related work (in order to turn losses into profits in 2019, eliminate the risk of delisting).

It is reported that Shandong Jintai was listed in 2001. In 2003, under the name of Huang Junqin, brother of Huang Guangyu, the enterprise gained control of Jintai, Shandong Province. Since then, it has repeatedly helped Jintai, Shandong Province, succeed in shelling. And this time, can Xinhengji escort Shandong Jintai out of the delisting crisis?

Stop purchasing 51% of Mackay Chicago, Shandong Jintais shell-keeping failure

On August 9, Shandong Jintai announced the termination of its acquisition of 51% of Fujian McKay Zhi Making Infant and Child Culture Co., Ltd. (referred to as McKay Zhi Making).

It is reported that McCaizhi was founded on November 26, 2009. Its main business is cultural products for infants and children. Its 100% equity is estimated to be 600 million yuan. At that time, Shandong Jintai hoped to actively promote the company to enter the industry with growth prospects and profitable space through the acquisition of McKay Zhijiao, promote the companys sustainable development, enhance the companys sustainability and profitability.

The performance promisor also promised Jintai Shandong that the net profit of McKay Chi-chi in 2019-2021 was not less than 0.52 billion yuan, 0.63 billion yuan and 0.75 billion yuan, respectively.

Now that the acquisition has failed, Shandong Jintai will continue to hover on the edge of delisting. As the net profit audited in 2017 and 2018 is continuously negative, the audited revenue in 2018 is less than 10 million yuan. According to relevant regulations, since April 26, 2019, the Shanghai Stock Exchange has implemented delisting risk warning for Jintai stock in Shandong Province.

At that time, Jintai of Shandong Province made it clear that one of the main measures to withdraw the warning of delisting risk was to purchase 51% of Mackay Chis equity in cash, making it a controlling subsidiary of listed companies, and incorporating it into the consolidated statements of listed companies. Another measure is to continue to carry out housing rental business and Internet access service business; at the same time, strengthen internal management, reduce costs reasonably and effectively, and achieve economic growth.

On August 9, Shandong Jintai Securities Department staff told Xinjing News that the core elements of the failure of the two sides to reach an agreement on the termination of restructuring of Shandong Jintai and McCaizhi were not easy to disclose specific details. We are still actively trying to find new projects, investors should also be looking for them, and we are actively working hard to find them. Make great efforts to do relevant work (in order to turn losses into profits in 2019 and eliminate delisting risks).

In any case, for the termination of restructuring with McCaizhi, there is a market view that Jintai, Shandong Province shell-keeping failure, leaving less and less time for listed companies.

In the past 20 years of listing, Xinhengji has helped its shell-keeping success many times.

Shandong Jintai was listed in July 2001. At the beginning of the listing, the company belonged to the pharmaceutical industry, with bioengineering, chemical preparations, traditional Chinese medicine preparations, veterinary drugs and other categories.

Due to the adjustment of business, Jintai, Shandong Province, fell into a loss in the second year of listing, and continued to lose money in 2003. In 2004, Jintai, Shandong Province, turned its performance into profit by transferring equity to obtain investment returns, and succeeded in shelling.

In 2005, Jintai, Shandong Province, was once again in a loss. On the one hand, its main business was shrinking, on the other hand, it had to pay a lot of debts when the company failed in litigation. As for 2006, which continued to lose money, Shandong Jintai called it a very difficult year.

In addition, On December 29, 2007, Shandong Jintai signed the Debt Exemption Agreement with Xinhengji Real Estate Group, which agreed to exempt Shandong Jintai from 15 million yuan of debt.

Jintai, Shandong Province in 2007, can not rely on production and operation to reverse the loss situation. With the support of New Hengji Real Estate Group, Jintai, Shandong Province, realized the income of debt restructuring by means of debt restructuring of 29.1698 million yuan, thus turning the loss into profit in 2007.

For a long time, the support of Xinhengji Real Estate Group has played a vital role in the development of Jintai, Shandong Province. For example, without its support, Shandong Jintai lost again in 2008. In 2009, with its support, Jintai Shandong succeeded in turning losses into profits.

By the end of 2012, the total liabilities of Jintai in Shandong Province were about 287 million yuan, the total assets were about 37.766 million yuan, and the net assets attributed to shareholders of listed companies were about - 247 million yuan.

On November 30, 2013, in response to the measures and progress taken by the company to achieve positive net profit in 2013 and positive net assets at the end of 2013, Shandong Jintai responded to investors in the announcement that at present, the company and the controlling shareholder Beijing New Hengji Investment Management Group Co., Ltd. (hereinafter referred to asNew Hengji Investment Management Group) are in the process of development. We are actively studying practical measures and striving to achieve positive net assets of the company.

Tian Eye Check shows that Xinhengji Investment Management Group is the major shareholder of Xinhengji Real Estate Group.

In 2013, Shandong Jintai got what it wanted, and its net profit and net assets became negative and positive. In response, the company explained that the growth of total assets and net assets attributable to shareholders of listed companies at the end of 2013 compared with the end of last year is mainly due to the borrowing of funds by Jintai Group International Limited, a subsidiary of the company, from Xinhengji Holding Group Limited, the realization of profits through gold and jewelry trade, and the creditors exemption from HUAXIAT, Sun Company. RADINGLTD debt.

Business scope is changeable, gold business has been suspected of self-buying and self-selling

It is noteworthy that, while struggling in the performance marsh, Shandong Jintais business scope is also quietly changing. New real estate development was added in 2002, real estate development disappeared in 2006, and real estate intermediary services appeared in 2007. In December 2013, new platinum products, palladium products, gold products, silver products and jewelry processing and sales were added to the business scope (except for items restricted by state regulations).

In 2013, gold jewelry appeared for the first time in the main business of Jintai Financial Statements in Shandong Province, and performed well. Shandong Jintai achieved business income of about 538 million yuan in 2013, and the net profit attributable to shareholders of listed companies was about 26.828 million yuan. Among them, gold jewelry business income is about 531 million yuan.

After the successful resumption of listing, the main business of Jintai in Shandong Province has gradually changed from medicine to gold jewelry trade. The main products and their uses are sold abroad after the company purchases gold jewelry in batches. The business model is to sign contracts for Jintai Group International Limited, a wholly-owned subsidiary of the company, and gold jewelry sellers according to Golden Head. The specifications of jewelry vendorsorders are required to sign a purchase contract with the gold jewelry processing enterprises in mainland China. The gold jewelry processing enterprises in mainland China process according to the specifications and patterns designated by Jintai Group International Co., Ltd. for sale and fixed mining.

Relying on the gold and jewelry trade business, Jintai Shandong achieved four consecutive years of earnings (2013-2016).

In 2017, Jintai, Shandong Province, engaged in the main business of gold and jewelry trade, housing rental business, Internet access services.

Jintai, Shandong Province, once again in a loss, said in its annual report in 2017, In 2017, the fluctuation of international gold prices was large due to the increase in interest rates in the US dollar. Based on risk control, the company reduced its gold and jewelry trading business transactions, and its operating income, operating profit and net profit attributable to the owner of the parent company were compared with the same period last year. Compared with the average decline is larger.

Compared with the medical business that has been lost for many years but has not been abandoned by listed companies, Jintai, Shandong Province, has a decisive attitude towards gold and jewelry trading business, and will not carry out this business in 2018.

It is worth mentioning that on June 6, 2018, the media reported that Shandong Jintai was suspected of falsifying its shell-keeping performance against the Huang Guangyu family. It said that the companys gold business in recent years had problems such as suspicion of self-buying and self-selling, suspected business status of some important customers or denial of business contacts with the company. To this end, the Shanghai Stock Exchange issued an inquiry letter to Jintai, Shandong Province.

On June 16, last year, Jintai, Shandong Province, responded to a letter of inquiry, saying that there is no self-buying and self-selling between the companys customersMingke shares and the suppliers Yajue trade, which does not have commercial substance.

Background

At the beginning of listing in 2001, the controlling shareholder of Shandong Jintai was Youth Chemical Factory of Shandong Institute of Pharmaceutical Industry Experimental Factory, which was transformed into Jinan Jintai Investment Management Co., Ltd. in 2002.

At present, the actual control of Jintai in Shandong Province is Huang Junqin. According to Shandong Jintai announcement, Huang Junqin is Huang Guangyus brother. Since 1987, he has been the general manager of Beijing Gome Electrical Appliances Company, the chairman of Beijing Jingan Property Development Co., Ltd., the chairman of Beijing New Hengji Real Estate Development Co., Ltd., the chairman of Hong Kong Jet Cheng International Investment Co., Ltd., and the investor of Zhongdao Guangtong Network. Chairman of the company and chairman of Shandong Jintai Group Co., Ltd.

In 1985, 19-year-old Huang Junqin took his 16-year-old brother Huang Guangyu out of Shantous rural areas and went north to start a business. Publicly reported that its venture capital was 4,000 yuan, and its business started with selling small electrical appliances. Huang Junqin brothers co-operate Gome Electrical Appliances. According to reports, Huang Junqin is mainly responsible for behind-the-scenes management and operations research, while Huang Guangyu focuses on business. Until 1993, when the two brothers disagreed on the direction of business development, Huang Junqin left Gome Electrical Appliances and joined the real estate industry.

According to the official website, under the leadership of President Huang Junqin, Xinhengji Group now has a total assets of more than 20 billion yuan. It has 17 holding companies and a listed company, and takes real estate development as its core. It covers office buildings, Hotel management, financial investment, chain business, network communication, high-tech development and biopharmaceuticals. Diversified and comprehensive enterprise groups in the region. Huang Guangyu has won Hurun Chinas 100 Rich List many times. However, according to media reports, Huang Guangyu said in an interview in his early years, Brother (Huang Junqin) has more money than himself. Now Huang Guangyu is in prison. Every once in a while since 2014, the news that Huang Guangyu will be released from prison has had a great impact on the stock of Guomei system. Shandong Jintai has also been listed as one of the Gome stocks in the market. On April 1, Shandong Jintai issued a clarification announcement that the controlling shareholder of the company is Xinhengji Investment Management Group. Huang Junqin, the actual controller of the company, is Huang Guangyus brother. Huang Guangyu has no equity relationship with the company. The company and its controlling shareholders were also unaware of any information about Huang Guangyus release from prison. Source: Wang Xiaowu_NF, Responsible Editor of Beijing Newspaper

According to the official website, under the leadership of President Huang Junqin, Xinhengji Group now has a total assets of more than 20 billion yuan. It has 17 holding companies and a listed company, and takes real estate development as its core. It covers office buildings, Hotel management, financial investment, chain business, network communication, high-tech development and biopharmaceuticals. Diversified and comprehensive enterprise groups in the region.

Huang Guangyu has won Hurun Chinas 100 Rich List many times. However, according to media reports, Huang Guangyu said in an interview in his early years, Brother (Huang Junqin) has more money than himself.

Now Huang Guangyu is in prison. Every once in a while since 2014, the news that Huang Guangyu will be released from prison has had a great impact on the stock of Guomei system. Shandong Jintai has also been listed as one of the Gome stocks in the market. On April 1, Shandong Jintai issued a clarification announcement that the controlling shareholder of the company is Xinhengji Investment Management Group. Huang Junqin, the actual controller of the company, is Huang Guangyus brother. Huang Guangyu has no equity relationship with the company. The company and its controlling shareholders were also unaware of any information about Huang Guangyus release from prison.