Transfer pledge + equity transfer + asset disposal
At a time when the controlling shareholders are short of funds, Shenzhen state-owned capital has decisively made a series of rescue plans for the company. The first is to transfer the stocks of Desheng asset management facing the risk of closing positions to Shenzhen hi tech investment and Financing Guarantee Co., Ltd. and Shenzhen small and medium-sized enterprise credit financing guarantee Group Co., Ltd. to mitigate the risk of closing positions of controlling shareholders. Second, Shenzhen Investment Control Capital Co., Ltd., Shenzhen Investment Control Bay Area equity investment fund partnership, and CITIC Securities Co., Ltd. jointly initiated the establishment of Shenzhen investment control China Securities Xinying equity investment fund partnership, and transferred 5% of the companys equity held by Desheng asset management.
At present, the share pledge ratio of Desheng asset management and its concerted actors has been reduced to 60.58%, and the risk of share pledge of controlling shareholders has been effectively alleviated.
At the same time, listed companies will further promote the layout and extension of the company in the new energy vehicle industry chain with the help of the resource advantages of strategic shareholders after introducing win win trust fund as a strategic investor through rescue.
Pledge extension + transfer of asset management plan agreement
Besides local governments and state-owned assets platforms, financial institutions such as securities companies also actively participate in the rescue of private enterprises. In November 2018, the CSRC issued the notice on supporting securities institutions to actively participate in resolving the stock pledge risk of listed companies and supporting the development of private enterprises to various securities companies, supporting securities companies to help listed companies relieve liquidity pressure.
On the one hand, the company and the actual controller actively seek the support of the government. Under the coordination of local government departments and other parties, the original mortgagee agrees that the actual controller will postpone the redemption of Pledged Shares, and will not take compulsory measures such as closing positions temporarily, so as to gain valuable time for the rescue. On the other hand, the companys actual controller, Xingzheng asset management and Xuzhou state-owned assets platform jointly plan to establish a rescue plan, set up a No.5 single asset management plan of Xingye securities supporting the development of private enterprises in the securities industry, which is subscribed by Xuzhou state-owned assets platform, and undertake 14.02% of the companys equity held by the companys actual controller, effectively resolving the high ratio of controlling shareholders For example, pledge risk.
Source: responsible editor of Securities Daily: Yang qian_nf4425