West China Metropolis Daily-Cover News Reporter Xiong Yingying

　　In the morning of July 30, Zhangzidao reached its daily limit again, but the fourth daily limit did not last long before it began to fall. After a round of roller coaster market, it finally closed up 5.81% to 6.01 yuan per share. Compared to when it was punished by the Securities Regulatory Commission a month ago, its stock price has doubled. Zhangzidao, once famous for its "scallop running", became a "flying divine shell" in a flash, stunned the investors.

　　A few days ago, Zhangzidao completed the replacement of personnel, and Tang Yan succeeded Wu Hougang as the legal representative, chairman and general manager of the company. At the same time, the company disclosed the 2020 semi-annual performance forecast, and it is expected that the net profit in the first half of the year will turn from loss to profit year-on-year. Amidst the confusion and doubts in the market, Zhangzidao seems to be gradually moving on the right track.

　　The net profit of “slimming” assets was turned into profit

　　Since July, the stock price of Zhangzidao has continued to rise. Calculated based on the closing price of RMB 2.75 per share on June 30, it has risen by more than 118% in one month.

　　The stock price rise is largely due to the continuous improvement in performance.

　　On the evening of July 14, the company disclosed a semi-annual performance forecast. It is expected that the net profit attributable to shareholders of the listed company will be 30 million to 45 million yuan during the reporting period, and a loss of 23,589,700 yuan in the same period last year.

　　Regarding the reasons for the performance changes, Zhangzidao explained that the company's operating income in the first half of the year decreased by about 20% year-on-year; affected by factors such as idle sea area usage fees and rent amortization, the amount of sea area usage fees accounted for in the current period increased, resulting in related product units The cost has increased by about 20%-30%.

　　During the reporting period, Qingdao Frontier Ocean Seed Industry Co., Ltd., in which the company holds 58% of the shares, achieved good operating results in the first half of the year, resulting in a year-on-year increase of approximately 18 million yuan in net profit attributable to the parent company. At the same time, the company transferred about 120 million yuan from non-recurring profit and loss projects such as the transfer of sea area use rights and related assets in Guanglu Island, Changhai County, and central cold storage equity.

　　Using satellites to find scallops and the China Securities Regulatory Commission to uncover the fog of financial fraud

　　Beginning in 2014, Zhangzidao scallops had frequent accidents, either "run off" or starved to death.

　　At the 2019 annual performance online briefing meeting held in May this year, Wu Hougang threw the "pot" to the natural disaster, saying that the expert research team organized by the Ministry of State believed that the large loss of Ezo scallops at the bottom of Zhangzi Island was caused by changes in sea temperature and sea shells. It is the result of the combined effect of many factors such as excessive breeding scale and density, lack of feed organisms.

　　However, the lie was quickly exposed.

　　On June 24, the China Securities Regulatory Commission imposed administrative penalties and a decision on market bans on Zhangzidao’s information disclosure violations. The China Securities Regulatory Commission stated that with the help of satellite positioning data, it analyzed millions of maritime navigation positioning data from 27 fishing vessels on Zhangzi Island, and commissioned two third-party professional organizations to use computer technology to restore the true trajectory of the fishing vessels. The company’s actual harvesting of sea areas in the last two years has further determined the actual harvesting area, and based on this, it has determined that Zhangzidao’s costs, non-operating expenses, and profits are false.

　　After the truth became clear, the company began a series of personnel changes. Chairman Wu Hougang, Executive President of Overseas Trade Business Group Gou Rong, Securities Affairs Representative Zhang Lin, and Chief Financial Officer Liu Kun successively resigned. Subsequently, the company's board of directors elected Tang Yan as chairman, chairman of the strategy committee, and appointed him as the company's president.

　　It is worth noting that despite the forecast of a turnaround in the first half of the year, the net profit after deduction is still in a state of loss. Zhangzidao said that the company is currently actively promoting various operations to ensure a smooth transition for the company.