More than 200 million yuan has been raised and the diamond has been forcibly deducted by the bank: the lawyer has been asked to check

category:Finance
 More than 200 million yuan has been raised and the diamond has been forcibly deducted by the bank: the lawyer has been asked to check


Deduction of raised funds

It is not easy for the investors of Henan diamond.

Henan diamond announcement said, Zhengzhou bank Jinshui East Road sub branch, without the companys knowledge, forcibly deduct the companys bank account funds.

It is worth noting that yudiamond did not disclose the reason why 224 million yuan was forcibly deducted by the bank in the evening announcement on December 31.

Before that, the funds of yudiamond in the account of Jinshui East Road branch of Zhengzhou bank had been frozen. In response to the Shenzhen Stock Exchanges letter of concern on November 11, yudiamond said that the companys RMB 335 million fund-raising in Jinshui East Road branch of Bank of Zhengzhou was frozen due to the impact of Fenghui leasing lawsuit.

According to the announcement of yudiamond, in 2016, it carried out financial leasing business by means of after-sale leaseback through Fenghui leasing, with a financing amount of 500 million yuan and a lease term of 60 months.

According to the courts execution ruling, during the performance of the contract between yudiamond and Fenghui, yudiamond failed to pay the 10th rent in December 2018 in full on schedule. Subsequently, Fenghui leasing applied to the court for enforcement. According to the disclosure of yudiamond semi annual report 2019, on January 4, 2019, Zhengzhou intermediate peoples court made an executive ruling to freeze the deposits of about 330 million yuan of yudiamond and other related parties, with a term of one year.

It is worth noting that according to the announcement of Henan diamond, the funds in the above account were originally used for the 7 million carat / a gem grade diamond project, which was established in 2015 and implemented in Xingyang new material industrial park under the jurisdiction of Zhengzhou city.

By the end of September 2019, the investment progress of the 7 million carat gem diamond project is 76.96%. The total investment commitment of the raised funds is 4.288 billion yuan, and the adjusted total investment is 3.478 billion yuan. As of September 30, 2019, the accumulated investment is about 2.677 billion yuan.

At the end of October 2019, yudiamond thought that if the annual output of 7 million carats of gem grade diamond project continues to be implemented in a short term, it may be difficult to achieve the expected benefits, so it plans to terminate the implementation of the project, and the remaining raised funds and related interests as of the end of September 2019 will add up to about 1 billion yuan of working capital permanently.

Company lawsuits

About 224 million yuan of the companys latest audited net assets accounted for 3.23%. Yudiamond said that if the above funds can not be recovered, it will have a negative impact on the companys financial situation and production and operation.

In addition to the above-mentioned debt disputes, yudiamond is involved in various lawsuits. According to the announcement of yudiamond on December 13, 2019, as of December 13, yudiamond has involved 43 litigation / arbitration cases with a total amount of about 4.05 billion yuan, including 9 cases involving company loans and 22 cases involving company guarantees.

The reporter of daily economic news noted that the book asset liability ratio of Henan diamond is not high. The third quarter report of yudiamond in 2019 shows that its total assets are about 9.3 billion yuan, owners equity is about 7 billion yuan, total liabilities are about 2.3 billion yuan, and the asset liability ratio is only about 25%. In other words, an important part of the above litigation involving about 4.05 billion yuan is due to the guarantee provided by Henan diamond.

According to the report for the half year of 2019, the main business of yudiamond is the products of man-made ordinary single crystal diamond, large single crystal diamond, cultivating diamond jewelry, micro diamond line and super hard abrasive (grinding wheel). In addition, as of December 13, 2019, Henan Huajing Superhard Material Co., Ltd. (hereinafter referred to as Henan Huajing), the controlling shareholder of Henan diamond, and Guo Liuxi (the actual controller of the company), the two persons acting in concert, have accumulated 99.41% of the shares of the two companies. According to wind data, as of November 11, 2019, Henan Huajing and Guo Liuxi held 12.2% and 15.37% shares of yudiamond respectively. Since April 2019, the stock price of yudiamond has declined all the way, but the stock price has been basically stable around 3.2 yuan in the near future. On December 31, the companys share price closed at 3.30 yuan, up slightly by 0.3%. Source: editor in charge of daily economic news: Yang bin_nf4368

According to the report for the half year of 2019, the main business of yudiamond is the products of man-made ordinary single crystal diamond, large single crystal diamond, cultivating diamond jewelry, micro diamond line and super hard abrasive (grinding wheel).

In addition, as of December 13, 2019, Henan Huajing Superhard Material Co., Ltd. (hereinafter referred to as Henan Huajing), the controlling shareholder of Henan diamond, and Guo Liuxi (the actual controller of the company), the two persons acting in concert, have accumulated 99.41% of the shares of the two companies.

According to wind data, as of November 11, 2019, Henan Huajing and Guo Liuxi held 12.2% and 15.37% shares of yudiamond respectively.

Since April 2019, the stock price of yudiamond has declined all the way, but the stock price has been basically stable around 3.2 yuan in the near future. On December 31, the companys share price closed at 3.30 yuan, up slightly by 0.3%.