Affected by this news, Shengyun environmental protection dropped again near noon on May 19. As of the closing, Shengyun environmental protection reported zero point six seven Yuan, which has been less than 1 yuan for 11 consecutive trading days.
On May 18, prescient investors increased the selling of Shengyun environmental protection. As of yesterdays close, Shengyun environmental protection touched the limit several times and reported for the close zero point seven four Yuan, down 9.76% u3002
Loss of 6.4 billion yuan in three years and difficult production in annual report
The delisting crisis faced by Shengyun environmental protection is far more than that.
At present, the company applies to postpone the disclosure of the 2019 audited annual report to June 24. According to the regulations, if the company fails to disclose the report two months later, the stock may be suspended from listing.
The reasons for the delay of annual report disclosure are mainly related to the fact that the company is currently in the stage of reorganization. In the latest progress of restructuring released on May 19, the company said that this restructuring will have a great impact on its performance in 2019.
According to the main business performance of 2019 disclosed by the company on April 29, 2020, the net profit attributable to the shareholders of the listed company as of December 31, 2019 is- nineteen point nine zero Billion yuan. Before that, the company had two consecutive years of losses in 2017 and 2018, with a total loss of about 6.4 billion yuan in three years.
The loss is small, and the loss of gem stock is large for three consecutive years.
On the last day of 2019, Shengyun environmental protection, which has been wandering on the edge of delisting, disclosed the announcement of major asset restructuring again. Pengshui maobo Mining Group Co., Ltd. (hereinafter referred to as maobo group) plans to help Shengyun environmental protection solve the problem of non operating capital occupation of related parties with assets of no more than 1.8 billion yuan.
According to the latest progress announcement on May 19, Shengyun Environmental Protection said that up to now, 70% of the equity of Chongqing Maotian Mining Co., Ltd., the subject company of the companys major asset restructuring transaction, has been transferred to a third party (the third party is a platform company specially designated by Tongcheng municipal government to solve the problem of affiliated capital occupation) and 15% of the equity is being changed.
In this case, asset injection of maobo group and Maotian mining will increase Shengyuns net profit of environmental protection five point two seven 100 million yuan, increased net assets five point two seven Billion yuan.
Therefore, the company believes that there is still great uncertainty in this restructuring.
Total market value evaporation 92%
As can be seen from the latest announcement above, the balance of overdue debts of Shengyun environmental protection is as high as forty-nine point four seven Billion yuan, while the current total market value is only Eight point eight The market value is less than one fifth of the debt.
The stock price fell from a high of 42 yuan in 2013 to less than 1 yuan, and the total market value evaporated nearly 10 billion yuan.
Looking back to that year, Shengyun environmental protection started from its low position in 2012 Seven point eight In less than two years, the share price has nearly tripled, with a total market value of 10.7 billion yuan, becoming the leader of the waste incineration industry.
In 2015, the company ushered in the highlight moment, with its revenue and net profit reaching the peak since listing.
Shengji will decline, Shengyun environmental protection has opened a blind expansion path. Blind debt expansion takes up a lot of funds of listed companies.
Focusing on the waste power generation project, Shengyun environmental protection Co., Ltd. raised additional shares at the beginning of 2016 eighteen point three two In addition, the companys short-term borrowings from the beginning of 2015 seven point six seven Billion yuan to the end of 2018 twelve point five five Long term borrowings increased from 700 million yuan to 1 billion yuan at the end of 2018.
As of the third quarter of 2019, the companys asset liability ratio has reached as high as 103.89% u3002
Since then, the companys crisis began to spread. Senior executives have left their jobs, defaulted on their employees wages, failed to pay off their debts when they were due, and bank accounts have been frozen
Although the company once began to save itself and planned to sell itself to chuanneng group with 15.6 billion yuan, the final outcome was termination of M & a.
Since 2019, the companys business situation has continued to deteriorate. Due to the large debt crisis and serious lack of liquidity, the companys project construction is basically in a standstill state, and the operation is unsustainable, falling on the eve of a hundred billion waste classification market.
It is also this year that kaixiaosheng entered the Hurun rich list with a wealth of 1 billion yuan. It is the first time that local entrepreneurs in Tongcheng city have entered the Hurun rich list, and become one of the 15 Anhui entrepreneurs on the list in 2010.
Since Shengyun environmental protection went public, kaixiaosheng has reduced its holdings for many times.
According to the statistics of the announcement, from July 2013 to the end of 2016, kaixiaosheng reduced its holdings 14 times in total when the stock price was high, and the total amount of cash out was about fourteen point five six Billion yuan.
Shareholding ratio from 2013 36.12% , down to December 28, 2016 13.69% u3002 As of March 31, 2020, although kaixiaosheng is still the largest shareholder of Shengyun environmental protection, it only holds 10.16% Of.
In April 2018, kaixiaosheng announced to resign as chairman of the board of directors, and Shengyun environmental protections debt problem began to break out.
According to the investigation of CSRC later, Shengyun environmental protection, as a bond issuer, has 12 other external debts that have not been paid off when they are due during the period of private placement of corporate bonds 15 Shengyun 01, 16 Shengyun 01 and general corporate bonds 17 Shengyun 01.
In June 2018, kaixiaosheng promised that if the related parties could not return the funds on time, they would fulfill the repayment obligation in time and terminate the illegal guarantee of the listed company within 12 months. However,
In the evening of October 17, 2018, Shengyun Environmental Protection released a notice that Kai Xiaosheng, the largest shareholder of the company, was listed as the person who was dishonest and executed by China Securities Regulatory Commission. The reason for the inclusion was that the relevant responsible subjects of the listed company failed to fulfill their public commitments within the time limit. The disciplinary measures were to restrict the high-level seats and civil aircraft on trains, starting on October 17, 2018.
On November 8, 2019, Shengyun environmental protection issued a notice that the company received the punishment decision from Anhui securities regulatory bureau of China Securities Regulatory Commission. Shengyun environmental protection was fined 600000 yuan by Anhui Securities Regulatory Bureau due to the companys illegal behaviors such as false records in the annual report, failure to disclose the guarantee matters in accordance with the regulations, occupation of funds by the controlling shareholders related parties and overdue debts,
Kai Xiaosheng, the companys actual controller, was banned from entering the securities market for life.
Shenwu environmental protection falls and stops again, tomorrow ushers in the life and death test
Once upon a time, the concept of environmental protection, after the halo faded, revealed the true face of the enterprise.
According to incomplete statistics of fund Jun, in addition to the above-mentioned Shengyun environmental protection, there are four environmental protection enterprises, Shenwu environmental protection, * ST energy saving, * ST Kaidi and Tianxiang environment, which are also facing delisting risks.
Shenwu environmental protection faces delisting risk due to its failure to disclose its 2019 annual report on time.
On May 5, Shenwu Environmental Protection announced that it was unable to disclose the annual report of 2019 and the financial report of the first quarter of this year within the legal period because the company had not completed the work of appointing the annual audit institution.
Shenwu environmental protection Co., Ltd. is unable to issue annual report because the audit institution Lanyu certified public accountants Co., Ltd. It intends to employ does not have the qualification for securities service business.
Shenwu environmental said that if the company is still unable to complete the disclosure of last years annual report before the end of June this year, the companys shares will be suspended by Shenzhen Stock Exchange, and a decision on whether to suspend the listing of the companys shares will be made within 15 trading days after the suspension.
Today, Shenwu environmental protection Co., Ltd. reported to close at a price of zero point five nine At present, the face value of Shenwu environmental protection has been less than 1 yuan for 14 consecutive trading days.
Tomorrow, Shenwu environmental protection will usher in the test of life and death. According to the calculation, as long as the stock price does not rise sharply tomorrow, or as long as the closing price does not exceed zero point six two Yuan, even if the trading limit is pulled out continuously in the next five days, it will not be able to return to the sky, that is, it will not be able to return the share price to the par value again on the 20th trading day, so it is likely to become the fourth par value delisting stock this year.
According to the delisting rules of Listed Companies in Shanghai and Shenzhen stock markets, when the stock price of a stock is lower than the par value for 20 consecutive trading days, that is, less than 1 yuan, the conditions for the delisting of the par value will be triggered and forced to delist.
Although, the current policy also allows listed companies to voluntarily apply for suspension of trading to implement self rescue after the stock price falls below the par value for 10 consecutive trading days. The suspension can last up to 6 months, which is similar to the suspension of listing.
However, it is not known whether Shengyun environmental protection and Shenwu environmental protection share price can be disclosed in 2019 annual report.
On May 9, Tianxiang environment announced that the companys net assets at the end of last year were- seventeen point three three Billion yuan, and the financial reports of 2018 and 2019 are issued with audit reports that cannot express opinions.
As of the end of March this year, the accumulated overdue debts of Tianxiang environment and its subsidiaries reached thirty-five point one Billion yuan.
St Kaidi, once known as the first share of biomass power generation, has also been suspended from listing on the Shenzhen Stock Exchange since May 13. According to the companys announcement, Shenzhen Stock Exchange decided to suspend the listing of the companys shares from May 13, 2019, because the companys financial and accounting reports for two consecutive fiscal years in 2017 and 2018 were issued with audit reports that could not express opinions. Since 2014, due to large-scale acquisition, * ST Kaidis debt has risen sharply. In May 2018, the company defaulted on the medium vote, broke the capital chain of biomass power plant, and the debt crisis broke out. On May 9, * ST Kaidi announced that at present, the companys debts are overdue in total one hundred and eighty-six point eight five The overdue debt accounts for 100 million yuan of the latest audited net assets 976.14% u3002 Source: Zhong Qiming, editor in charge of China Fund News_ NF5619
According to the companys announcement, Shenzhen Stock Exchange decided to suspend the listing of the companys shares from May 13, 2019, because the companys financial and accounting reports for two consecutive fiscal years in 2017 and 2018 were issued with audit reports that could not express opinions.
On May 9, * ST Kaidi announced that at present, the companys debts are overdue in total one hundred and eighty-six point eight five The overdue debt accounts for 100 million yuan of the latest audited net assets 976.14% u3002