Every reporter: An Yufei Every editor: Chen Junjie
The former battery giant *ST Lions (002684, SZ) is about to bid farewell to the A-share market.
On the evening of May 29th, *ST Lions issued the “Announcement on Receipt of the Decision to Terminate the Listing of Stocks”. The company will enter the delisting arrangement period on June 6, 2022. The delisting arrangement period is 15 trading days. The last trading date is June 24, 2022.
The above announcement shows that due to the negative net assets of *ST Mengshi in 2020, the company’s stocks have been issued a delisting risk warning since April 30, 2021. In addition, the company’s 2021 annual report was issued an audit report that could not express an opinion, which touched the situation of termination of listing stipulated in the “Stock Listing Rules (2022 Amendment)”, so the company was decided by the Shenzhen Stock Exchange to terminate the listing.
*ST Dynavolt was established in 2001, initiated by Shantou Humei Battery Co., Ltd. At the beginning of listing in 2012, the company’s main business is the research and development, production and sales of various lead-acid battery products, the main product is motorcycle starting batteries. Later, after many changes, the company’s main business has become energy storage system integration, clean energy power engineering, high-end battery product R&D, manufacturing and sales, and smart travel.
“Daily Economic News” reporter statistics found that since 2022, *ST Lions has received 9 letters of concern. Among them, most of the letters of concern are related to huge debt forgiveness: on January 6, *ST Dynamo issued an announcement saying that the company has received the “Huarong (Fujian Pilot Free Trade Zone) Investment Co., Ltd. and other 12 creditors” issued by the company. The Debt Exemption Notice and the Debt Exemption Letter amounted to about 3.4 billion yuan in total.
For *ST Lions, 3.4 billion yuan is not a small sum. In 2021, the company’s total revenue will be 947 million yuan. As of the close on January 6, the market value of *ST Lions was about 2.3 billion yuan. At the same time, 3 of the above 12 creditors are related parties of *ST Mengshi.
Regarding the “sudden” debt waiver of 3.4 billion, the Shenzhen Stock Exchange issued a letter of concern on January 6, saying that on the premise that *ST Dynavolt had not signed an agreement with the relevant parties, the above-mentioned creditors unilaterally issued an “Exemption Letter” to the company. All or part of the debt is exempted, “please refer to the relevant provisions of the “Stock Listing Rules (2020 Revision)” and the relevant provisions of the “Articles of Association”, explain the company’s failure to perform the compliance of the board of directors and the general meeting of shareholders.
From January 6 to May 30, Shenzhen Stock Exchange issued a total of 9 letters of concern to *ST Lions. However, *ST Lions has repeatedly postponed the reply, and the announcements of “postponing the reply to the letter of concern of the Shenzhen Stock Exchange” and “continuing to postpone the reply to the letter of concern of the Shenzhen Stock Exchange” were issued more than the letter of concern.
In addition, *ST Lions also terminated major asset restructuring last year. On December 22, 2018, *ST Mengshi signed the “Cooperation Agreement” with Triumph Technology Group Co., Ltd., Zhangzhou Transportation Development Group Co., Ltd., and Fujian Zhao’an Jindu Assets Operation Co., Ltd. The assets recorded by the relevant asset supervision and management agencies are used as capital to participate in the company’s major asset reorganization. Zhangzhou Transportation Group and Zhao’an Jindu plan to participate in the company’s major asset reorganization with cash. Supporting financing and other matters.
In November 2021, *ST Mengshi released the “Announcement on Terminating Planning for Major Asset Reorganization”, announcing the termination of the above-mentioned asset reorganization.
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