*St noble said in the latest announcement that the real estate, land, equity of subsidiaries and joint-stock companies as well as equity investment funds held by the company were basically frozen due to the property preservation before the creditor filed a lawsuit due to the default of debt, which resulted in the failure of the company to renew the loan from the bank after the maturity of some bank loans; at the same time, due to the lack of liquidity, the company failed to pay on schedule The loan principal of the company in each bank totaled RMB 1.41 billion, which has been overdue.
Up to now, the company has faced a total of 2.557 billion yuan of overdue loans and bond principal, accounting for 65.07% of the companys total audited assets in the previous year.
Previously, shell finance and economics of Beijing News reported that in November and December of last year, 16 guirenniao ppn001 and 14 guirenniao of * ST Guirens bonds were due successively, but the company could not pay the principal and interest in full on time, which constituted a substantial breach of contract.
Since last year, * ST dignitaries have been downgraded many times. On June 21 last year, the joint rating announced that due to the large loss of the net profit of the bird in 2018, the pressure of centralized repayment and other factors, the long-term credit rating of the birds main body was lowered from AA to AA -; on September 16, the long-term credit rating of the birds main body was lowered to a again. On November 5, the companys main credit rating was further lowered to BBB, with a negative rating outlook.
At present, the companys main credit rating is C.
It is worth noting that on June 13, * ST Guiren disclosed that the application of Guoyuan securities by Xiamen intermediate court is limited to RMB 84.2668 million to preserve the corresponding property of the company. The main reason is that the company failed to pay the principal and interest to the holders of non-public debt financing instruments on November 12, 2019. The book value of the frozen assets is 693 million yuan, accounting for 17.61% of the companys latest audited assets. Up to now, the companys accumulated book value of the frozen assets is 1.655 billion yuan, accounting for 42.10% of the companys latest audited assets.
According to choice data, as of the first quarter of this year, the total debt of guirenniao was 3.377 billion yuan, and the asset liability ratio soared to 91.74% from 87.20% at the end of last year. By contrast, as of March 30, only 27.98 million yuan of money had been put on the books of the noble birds.
However, * ST dignitaries are still struggling. In the announcement, the company said that at present, the company is actively negotiating with the relevant creditors on the settlement plan, striving to reach an agreement with the creditors on the debt settlement plan as soon as possible. In a reply to the Shanghai Stock Exchange on June 20, * ST said that the company was negotiating with its creditors for an understanding. Up to now, excluding individual investors, 14 guirenniao bonds have signed a debt settlement agreement of 39 million yuan, accounting for 5.96% of the total debt; PPN has signed a harmonious agreement of 170 million yuan, accounting for 34% of the total.
On January 24, 2014, * ST noble successfully landed in a share, ushering in the high light moment of the enterprise. According to choice data, in 2015, the stock price of the bird rocketed to a peak of 65 yuan / share, with the total market value rapidly increasing to 40 billion yuan.
With the expansion of market value, there is also the ambition of noble birds. After listing, the noble birds began to implement the companys comprehensive strategic upgrading, hoping to transform from traditional sports shoes and clothing industry operation to sports industrialization group based on sports clothing manufacturing and coordinated development of various sports industry forms, and rapidly expand their own sports industry territory by means of capital.
In 2015, guirenniao invested 240 million yuan in Hupu sports, becoming the second largest shareholder of the company, and made up its own shortcomings in the sports industry with the help of Hupu. Later, it invested and established Shanghai Huidong Investment Center (limited partnership), a sports industry fund with a scale of 2 billion yuan, with Hupu. The listed companies began to look for the bidding of sports industry through the power of capital.
According to the eye, as of now, the company has invested 13 companies overseas, including football, basketball, running, fitness, outdoor sports and other Internet plus sports.
However, since the IPO, the net profit of * ST dignitaries began to shrink gradually, and they recorded losses in the past two years. From 2015 to 2017, the company achieved a net profit of RMB 330 million, RMB 326 million and RMB 188 million respectively. In 2018, * ST noble lost RMB 686 million and increased its loss to RMB 1.02 billion in 2019.
Novel coronavirus pneumonia is still a sign of no improvement in the *ST epidemic since this year. According to the first quarter report of 2020 released by * ST Guiren, the companys revenue reached 173 million yuan, a year-on-year decrease of 66.92%; the net profit attributable to shareholders of the listed company lost 200 million yuan, a year-on-year decrease of 1543.56%.
Cheng Weixiong, an expert in textile and clothing brand management and general manager of Shanghai Liangqi Brand Management Co., Ltd., believes that the main business of the noble bird has not made any progress, nor has its diversification broken through, so the capital market is not optimistic. The best outcome of the noble bird is to find the receiver and restructure the debt in combination with capital operation. At present, the biggest problem of the noble bird is the poor liquidity of listed companies, but because of the heavy burden of the noble bird, Im afraid its difficult for someone to be willing to accept it all.
Beijing News shell financial reporter Zhang Zeyan editor Zhao Ze proofreader Li Shihui