China News Service Client, Beijing, April 21 (Xie Yiguan) Ruixing Coffee's financial fraud incident continued to affect the "China Department". On April 21, after the suspension of the suspension of the China Automobile for two weeks, the stock price reappeared. It fell 28.29%, fell 44% over the past two trading days, and its market value evaporated more than 15 billion yuan; Shenzhou car rental also fell more than 8%.
Behind the stock price plunge, UCAR is deeply in debt risk, and there are signs of running out of financial institutions and suppliers. The Shenzhou system created by Lu Zhengyao has fallen into a "wind and rain" situation.
The chart of UCAR in China.
UCAR is in debt risk, sells car rental shares in China to pay off debts
On April 2, Ruixing Coffee blew financial fraud and belonged to the "Shenzhou Department" company. The stock prices of China Car Rental and China UCAR suffered violent shocks. On April 3, the stock price of China Car Rental fell 54.42%, and the stock price of China UCAR fell 21.75%. Both issued suspension announcements. Among them, the stock of UCAR was suspended from April 7, 2020.
The stock price of Shenzhou Car Rental Co., Ltd. plunged. On April 9, the first largest shareholder, China Automobile, announced that the company ’s overseas bank loans based on the holding of China Car Rental Stock as a collateral were triggered to close positions. As of April 3, there were 44666000 The shares of China Car Rental have been sold on the secondary market at the request of the lender, and the sale proceeds are used to repay part of the pledged loan. After this passive reduction, the company holds about 27.65% of the shares of China Car Rental and remains the largest shareholder of China Car Rental.
On April 13th, China Automobile also disclosed a clarification announcement, clarifying the recent media reports on the company ’s proposed transfer of Shenzhou car rental shares, saying that the company ’s management has not been interviewed by any media on the relevant rumors and authorized to release any At the same time, the company is in contact with potential investors, but related matters are still in the preliminary negotiation stage, and there are still large uncertainties.
The announcement also pointed out that the chairman and general manager of the company, Mr. Lu Zhengyao and his four concerted parties, based on their confidence in the company ’s future development prospects and recognition of the company ’s value, voluntarily applied for a limited sale of its office for one year from April 13, 2020 All company stocks held.
CIRC, the brokerage company of China Automobile, issued a notice on the 20th that since April 3, due to the disposal of some of the car rental stocks held by the lender at the request of the lender, as of April 16, the remaining shareholding of China Automobile has dropped to 25.92%, and is no longer the largest shareholder of car rental in China . However, if UCAR fails to repay the loan in a timely manner, there is a risk that the pledged stock will be further disposed by the lender if the subsequent stock continues to fall.
Based on this, on the evening of April 16, China UCAR has signed a sale and purchase agreement with Amber Gem Holdings Limited, the main shareholder of China Car Rental, intending to convert the first batch of 4.65% and the second batch up to 12.46% (subject to certain delivery prerequisites Satisfied) the car rental shares of China were transferred to Amber Gem Holdings Limited. If all of these shares are subsequently delivered, the shareholding of UCAR will be further reduced to 8.81%.
There are signs of running, and the annual report of UCAR may not be disclosed on time
"House leaks coincide with continuous rain and rain", under the risk of debt, China UCAR also appeared to run against the signs.
In the evening of April 17th, in response to the second inquiry letter of the national small and medium-sized enterprise share transfer system, UCAR mentioned that as of the end of 2019, the company's unaudited consolidated monetary capital funds were 3.38 billion yuan, of which 2 billion were restricted assets. . "The company has already seen signs of financial institutions and suppliers running, and specific debt repayment is being arranged. If a run occurs, it will cause great pressure on the company's cash flow."
According to CICC's announcement, the preparation of the 2019 annual report of China UCAR has not yet been completed, and the company disclosed that there will be greater uncertainty in the 2019 annual report before April 30, 2020.
CICC stated that if the annual report cannot be disclosed normally and the conditions for deferred disclosure cannot be met, there is a risk that the stock of UCAR will be suspended from the first transfer date in May 2020, and the company and related responsible entities will be transferred by shares The system takes publicly condemned disciplinary action and includes the risk in the integrity file database of the securities and futures market. (Finish)