In this regard, the reporter of the financial association contacted the Dong secretary and Dong Secretary Office of * ST Gangtai in the morning on November 24, but no one answered the phone. Wu Shuo, a securities analyst, told the associated press that bankruptcy restructuring can protect the interests of creditors, but the biggest problem of listed companies is their own operation. As the company itself has more illegal guarantee and capital problems, it is better for investors to stay away from these target shares. The current management of listed companies should immediately formulate and publish solutions to the company crisis.
In fact, * ST Gangtai has been applied for reorganization by creditors. On September 15, this year, due to the arrears of 4.0653 million yuan service fee from Shanghai Jinyi Auction Co., Ltd., Jinyi auction has applied to Lanzhou intermediate peoples court for reorganization of * ST Gangtai. In other words, if the court decides to accept the reorganization application, the company will be declared bankrupt because of the failure of reorganization.
After more than two months, Gangtai group, the second shareholder, may also face the same situation. Gangtai group used to be the controlling shareholder of * ST Gangtai, and it was not changed to Gangtai mining until 2013. In September 2019, 3.65 shares of * ST Gangtai held by Gangtai mining were forcibly transferred to Huitong fund. Huitong fund became the major shareholder of the company. At present, the listed company has no controlling shareholder and no actual controller.
Gangtai group currently holds about 195 million shares of the company, accounting for 13.13% of the total share capital of the company.
At present, Gangtai group has raised an objection and the court has not accepted the bankruptcy liquidation application. It is uncertain whether the court will accept the bankruptcy liquidation of Gangtai group. According to the 2019 annual report of * ST Gangtai, after inquiry with Xu Jiangang and Gangtai mining, there are 16 external guarantees without Gangtai holding decision-making procedures, involving an amount of about 4.2 billion yuan, and the principal and interest that has not yet been repaid is about 2 billion yuan.
It is worth mentioning that for * ST Gangtai, its own financial problems have been difficult to solve. On November 6, this year, the company announced that the interest of 17 rigid shares 01 bond could not be cashed, because the companys current capital has not been significantly improved, and many bank accounts have been frozen, and so on, capital is difficult.
Accompanied by this is the multiple delisting risk. After the occurrence of the illegal guarantee, the companys stock price went down all the way, and finally closed at 0.99 yuan / share on November 20, with the closing price lower than the par value of the companys shares. However, the stock price closed at 1.04 yuan on the 23rd, with the risk of delisting temporarily lifted.
In the same period of 2018, Gangtai reported a net loss of RMB 3.3 billion in the same period of last year, which was the latest quarterly loss of RMB 3.3 billion belonging to the owners of the company.
Source of this article: Yang Qian, editor in charge of CFA_ NF4425