Zhitong Finance APP News, La Chapelle (06116) announced that the company’s A-shares have increased by 44.62% in the past 10 trading days.
After enquiry, the company confirms that other than what is disclosed in this announcement, the company is not aware of any reasons that cause the stock price of the company’s A shares to change, or anything that must be announced to avoid falsehoods in the company’s securities. Market information or any inside information required to be disclosed under Part XIVA of the Securities and Futures Ordinance.
The company’s 2020 internal control audit report was issued with a negative opinion; the company’s main bank account was frozen due to litigation matters; and extraordinary deductions were made for three consecutive fiscal years from 2018 to 2020. The net profits of net profits and losses are all negative, and the 2020 annual audit report shows that there is uncertainty in the company’s ability to continue operating, which respectively touches on Article 13.9.1 of the “Shanghai Stock Exchange Stock Listing Rules” (revised in December 2020) ( In accordance with the provisions of paragraphs 3), (5) and (6), the company’s A shares have been subject to other risk warnings by the Shanghai Stock Exchange.
The company’s audited net assets attributable to shareholders of listed companies in 2020 were negative, touching Article 13.3.2 (2) of the Shanghai Stock Exchange Listing Rules In accordance with the provisions of this paragraph, the company’s A shares have continued to be subject to delisting risk warnings.
The company incurred a net loss of RMB 1.878 billion in 2020, and has been losing money for three consecutive years; as of December 31, 2020, the company’s total liabilities were approximately RMB 688 million higher than its total assets. .
Due to large overdue debts, it faced a large number of lawsuits. Its main bank accounts and subsidiary equity were frozen, and its real estate was seized. The above matters will lead to significant uncertainty in the company’s ability to continue operating.
At the same time, Dahua Accounting Firm (Special General Partnership) issued a reservation with an emphasis on the “significant uncertainties related to continuing operations” in the company’s 2020 financial statements. Audit report with opinions (Dahua Shenzi [2021] No. 008147).
As of the end of April 2021, the amount involved in the company’s resolved litigation cases that have not been fully implemented is approximately RMB 1.8 billion, and the amount involved in pending litigation cases is approximately RMB 710 million; A total of 106 bank accounts of the group were frozen, and the frozen amount of the frozen bank accounts was approximately RMB 166 million; the equity of 16 subsidiaries of the company was frozen, and the total amount involved in case execution was approximately RMB 536 million; due to financial loan disputes, A total of 21 litigation cases including construction contract disputes were affected, and the company’s 4 real estate properties (with a total book value of approximately RMB 1.74 billion as of March 31, 2021) were seized. The above matters have had a certain impact on the company’s capital turnover and operation management, and may also lead to a decline in the company’s financing capabilities and aggravate the company’s financial stress. Taking into account the cash expenditure pressure brought by the company’s operating activities and repayment of maturing debts, the company currently faces greater cash flow pressure and concentrated debt repayment risks.
As of the date of this announcement, the company’s original controlling shareholder Xing Jiaxing and its person acting in concert, Shanghai Hexia Investment Co., Ltd., hold a total of 186.8 million A shares of the company (all limited The tradable shares for sale) have been judicially auctioned and transferred; among them, Shanghai Qijin Enterprise Management Partnership (Limited Partnership) and its concerted person Shanghai Wensheng Asset Management Co., Ltd. hold a total of 106.8 million A shares of the company, becoming The company’s largest shareholder; Haitong Securities Asset Management No. 1 FOF Single Asset Management Plan, a series of securities industry support private enterprises managed by Shanghai Haitong Securities Asset Management Co., Ltd., holds 80 million A shares of the company.
As of the date of this announcement, the company’s A shares obtained by the above shareholders through judicial auctions are all restricted shares. If the above-mentioned shareholders apply to the company for the listing and circulation of A-share restricted shares, the company will promptly apply to the securities regulatory agency for the lifting of the A-share restricted stock, and the final review opinions of the securities regulatory agency shall prevail. </p
