Further attention letter from Yu diamond in case of doubt on the purpose of holding shares in asset management plan

category:Finance
 Further attention letter from Yu diamond in case of doubt on the purpose of holding shares in asset management plan


On October 20, Yu diamonds stock price went all the way to the limit board. As of the closing, the companys share price still closed with the limit.

Yu diamonds sharp rise in the stock price may be related to an equity change announcement of the company on the evening of the 19th, and the companys restructuring is expected to be ignited again.

According to the announcement, Beijing No.1 Intermediate Peoples court ruled to accept the bankruptcy and liquidation case of Beijing sky Hongding Investment Center (limited partnership) (hereinafter referred to as sky Hongding) on January 18, 2020, and appointed Guohao law firm (Beijing) as the manager of sky Hongding on March 26, 2020. According to the bankruptcy process of sky Hongding, 91954023 shares of Henan diamond held by sky Hongding (accounting for 7.63% of the total share capital of the company) will be publicly auctioned on Taobao judicial auction network platform from 10:00 on August 21, 2020 to 10:00 on August 22, 2020.

Through the online auction public bidding process, Xinghan Ziguan xingkaiyuan No.8 single customer special asset management plan (hereinafter referred to as xingkaiyuan No.8 asset management plan) obtained 91954023 Henan diamond shares held by sky Hongding, accounting for 7.63% of the total equity of Henan diamond. Xingkaiyuan No.8 asset management plan provides entrusted loans to sky Hongding through banks, and sky Hongding provides pledge guarantee for the entrusted loans with its Yu diamond shares.

It has been disclosed that sky Hongding has entered bankruptcy proceedings. In order to resolve the risk of entrusted loan project, xingkaiyuan No.8 asset management plan obtains 91954023 yudiamond shares held by sky Hongding through participating in judicial auction, which will be reduced in the next 12 months.

According to the semi annual report of Henan diamond in 2020, Beijing Tianzheng ocean fund management center (limited partnership) (hereinafter referred to as Tianzheng Sino ocean) ranks as the largest shareholder of the company with a shareholding of 229 million shares, accounting for 19.07%. Tianzheng Yuanyang and Tiantian Hongding are under the control of the same subject. Through consulting the national enterprise bankruptcy reorganization case information website, it is learned that Beijing No.1 Intermediate Peoples court has accepted the bankruptcy liquidation application of its creditors to the two companies.

In this context, the purpose of xingkaiyuan No.8 asset management plan to transfer Henan diamond shares is questionable.

Regulatory requirements further alert risk

It is worth noting that Yu diamonds share price rise is not consistent with the companys basic situation.

Because the company is suspected of illegal information disclosure, Yu diamond has received the Notice of investigation of China Securities Regulatory Commission on April 7, 2020. In the half year of 2020, the companys net profit loss attributable to shareholders of listed companies was 357.1448 million yuan, down 853.67% compared with the previous year. In 2019, the companys net profit attributable to shareholders of listed companies was 5196.5494 million yuan, a decrease of 5493.97% compared with the same period of last year.

Previously, on September 25 and October 9, the Shenzhen Stock Exchange had stated that it would focus on monitoring Yu diamond and other stocks with abnormal multi day rise and fall, and take timely regulatory measures.

In the letter of concern on the evening of October 20, the regulatory authorities also asked Yu diamond to explain whether there have been significant changes in the companys production and operation, main business and other fundamentals, and whether the changes in the companys share price match the fundamentals; in combination with the increase of the companys stock price in the past three months, the P / E ratio, the companys situation in the same industry, the companys controlling shareholder, actual controller, shareholders holding more than 5% shares, and directors , supervisors and senior management personnels recent share reduction and reduction plan, etc., to give sufficient risk warning for the fluctuation of the companys stock price.

According to the letter of concern, since 2018, some cooperative banks and non bank financial institutions of Henan diamond have cut off loans, withdrawn loans or asked the company to repay in advance. As of the end of June 2020, the company had a balance of 2.5709 million yuan of monetary funds on hand, and asked the company to explain whether there is still liquidity risk in the balance of available monetary funds At the end of the third quarter, whether there are still operational risks such as losses. In addition, the concern letter also requires Yu diamond to verify whether there are major information that should be disclosed but not disclosed by the company, the controlling shareholders and the actual controller, and whether there are major matters in planning; and whether the company has been interviewed by the media, institutional research, we media publicity, and investor relations activities in recent three months, and whether there is any violation of the principle of fairness of information disclosure or misleading The situation of investors. Source: Securities Times editor in charge: Yang Bin_ NF4368

According to the letter of concern, since 2018, some cooperative banks and non bank financial institutions of Henan diamond have cut off loans, withdrawn loans or asked the company to repay in advance. As of the end of June 2020, the company had a balance of 2.5709 million yuan of monetary funds on hand, and asked the company to explain whether there is still liquidity risk in the balance of available monetary funds At the end of the third quarter, whether there are still operational risks such as losses.

In addition, the concern letter also requires Yu diamond to verify whether there are major information that should be disclosed but not disclosed by the company, the controlling shareholders and the actual controller, and whether there are major matters in planning; and whether the company has been interviewed by the media, institutional research, we media publicity, and investor relations activities in recent three months, and whether there is any violation of the principle of fairness of information disclosure or misleading The situation of investors.