After Huishan of "leisure robbery" how to save themselves the pain?

管理 / 2018-07-12

A slump, but also shattered the myth of a business in Northeast!  Following the, but also become a major crisis faced by enterprises in Northeast。Because of funding strand breaks, March 24, Hong Kong stocks plummeted 85% intraday, the stock only 0:00 emergency suspension.42 Hong Kong dollars, the Hong Kong stock market hit a record one-day drop in stock。  (Huishan official website picture) after the company's share price had fallen by 32.2 billion market capitalization, the company's actual controller of Yang Kai said the company's share price plummeted, Nothing prepared themselves。  One theory Huishan is eyeing short-seller Muddy Waters。December 2016 muddy water company has issued two reports on short selling of Huishan。The report blamed the company through false claims that "all alfalfa confession" to exaggerate profits, capital spending part of the ranch suspected fraud, misappropriation of actual control of a listed company may be at least 1.500 million yuan assets, and its stock value lashed out at "close to zero"。  Financial difficulties: a ripple however Huishan on financial fraud, misappropriation of funds, lost to executives and other negative news is to pour。  Public information, since the debt ratio Huishan listed in heightening year by year, according to financial results, in September 2016 its total liabilities amounted to 211.62 billion yuan, assets and liabilities was 62.07%, while in March 2014 liabilities 78.2.5 billion balance was 37.twenty two%。  But before the stock plunged the day Liaoning Province Financial Affairs Office held the lead Huishan Group Claims Conference, 23 creditor banks to participate, Yang Kai acknowledge funding strand breaks at the meeting。  In addition, according to the March 31 HKEx data, the actual control people Huishan Yang Kai March 24 holdings Huishan 25087.9 million shares, average price reduction of only 0.HK $ 394 cash 9884.HK $ 6.3 million and its stake from 72.62% to 70.76%。Huishan day volume of 7.79.4 billion shares, that is, reducing the number of shares Yang Kai aspects have been more than a third volume of the day.  Of course, the name of Yang Kai does not necessarily mean the stock is selling himself, there is speculation that Yang Kai pledged to the share pledge a number of banks or large-scale liquidation day。  Yang Kai has won a large sum of equity pledge given huge loans。Yang Kai-controlled crown Fung Ltd. for its Huishan shares held as collateral, in June 2015 in Ping An Bank obtained credit line。As of March 24, 2017, Ping An Bank loans at 21.The total number of shares of 4.2 billion Hong Kong dollars, the pledge was 34.3.4 billion shares。But after peace statement shows that Ping An Bank did not pledge the shares will be liquidated。  Despite a number of financial institutions involved, Huishan equity pledge to get loans, far more than a Ping An Bank。  After the stock price plummeted, a 23 Huishan involved in the debt crisis of the list of banks appears in everybody's eyes。In the list of creditors in Huishan, without exception, from the policy banks, state-owned line, the stock line, local line and the local rural credit bureau。In addition, including more than 10 financial leasing companies, including financial institutions, creditors a total of more than 70, at least in financial claims is expected to 12 billion yuan。  According to a list circulated on the Internet, from the impact on many creditor banks Huishan of the present situation, the Bank of China, ICBC, Agricultural Bank of China and other large commercial banks due to the large body mass, stock price volatility and impact on the actual operations are small; and Bank of Dalian, , Liaoning Province, rural credit cooperatives and other small banks, although smaller body mass, but not the credit amount is not large impact on。  In contrast, nine agricultural businesses As a small bank, more than a billion of financing risks should not be overlooked, and sometimes also onto the cusp of nine agricultural firms。  According nine agricultural businesses announcement March 28, nine agricultural firms Xiang-Hui Hill Dairy provides two pen financing, the financing of which the first pen principal amount of 7.500 million yuan, the due date is December 2021。The second tranche of financing principal amount of 600 million yuan, maturity date in June 2017, so far only from the expiration of three months。Nine agricultural firms that are not currently carried out impairment provision in respect of two pen financing。  But nine agricultural firm recently reported 2016 performance report, profit-liter double performance to produce a satisfactory answer to investors。2016 net profit 18.8.7 billion yuan, compared with 12 last year,.Net profit of 1.6 billion, an increase of 55%。The main growth in total assets increased interest-bearing large, securities and other financial assets in which investment and industry growth significantly。The Huishan not list their top ten borrowers in。  Gangster capital involved the evening of March 27 announcement that its holding through 53.83% of the subsidiary – high-tech industries in Jiangsu Province Investment Co., Ltd., Hong Kong stocks held Huishan 5223.1 million shares。March 24 Huishan day slump, Jiangsu venture held by reducing the market value of Huishan 12430.HK $ 980,000。  Public information that, wholly owned subsidiary of Jiangsu Jiangsu high investment of venture capital in 2013 for $ 29.5 million to subscribe for shares Huishan 8590。The high investment in Jiangsu Jiangsu capital lap considerable fame, is behind the domestic capital circle chiefs Zan Shengda。  Gopher assets: Huishan freeze assets of Hong Kong, the application is rejected, however, the embattled Huishan is not without good news。March 31, Huishan release entitled "Hong Kong court rejected the application to freeze assets of the Company in Hong Kong," the announcement said, the Hong Kong Court rejected the request of gopher assets freeze its assets in Hong Kong this request。After saying the company needed more time to verify the financial situation in order to provide an update to shareholders。  Previously, gopher assets filed with the Hong Kong High Court to freeze the assets of the company and four people, including Huishan, the actual control people and its holding company crown Yang Kai Feng, Zhang and another person fit and assets, they will be prohibited assets transferred or removed from Hong Kong。  Press announcement Huishan March 31, the gopher assets claimed in the application, which is Huishan in Chinese mainland subsidiary of a company's creditors, and Huishan on the sum of about 5.$ 4.6 billion to guarantee debt。According to information on the Fund Industry Association, gopher assets involved in Huishan debt crisis has two products, namely the creation of gopher One preferred investment funds and gopher creation preferable II investment fund, it was established in 2016 January 30。  Official data show that these two funds to raise funds, in addition may hold a small amount of cash, bank deposits, but will be used to acquire all or nearly all the Liaoning Huishan Group (Shenyang) Co., Ltd. (Hui Shan Group) its Fai Hill Dairy (China) Co., Ltd. (Hui Shan China) held by accounts receivable debt by Hui Shan China within the agreed period of payment in satisfaction of the price of the Fund。  According to the company annual report shows that Liaoning Huishan Group (Shenyang) Co., Ltd. and Huishan (China) Limited is an indirect wholly-owned subsidiary of Huishan。  Then set side: COFCO pass into the white knight or after a financial crisis breaks, as milk prices in Northeast China, who will be facing the next step is to Huishan's "white knight" has become the focus of attention。  However, the situation had already Liaoning Province in Northeast Special Steel, Dalian Machine Tool and other companies to repay debt difficulties there have been financial institutions to finance local enterprises enthusiasm is relatively low, which Huishan or out of the doldrums will face a major problem。With Kai Lu, deputy director of Peking University School of Economics, Department of Finance believes that the decline now, coupled with tight financial side, the country's investment environment is getting worse, the Northeast had erupted corporate credit debt default, and therefore external funds into the relatively more cautious。  Earlier media reports said the world's sixth largest milk prices Royal Friesland Company or intentionally then set Huishan。But the news was subsequently denied media。  Some years ago, Huishan and Friesland had announced to set up in China in the production, promotion and sale of infant formula of joint ventures, with each occupy 50% stake in the joint venture。As part of long-term cooperation, Royal Dutch Friesland who paid 700 million yuan to obtain a 50% stake in Shenyang Huishan Silk factory and invest $ 30 million to buy shares in Huishan Hong Kong Stock Exchange。  However, according to the national enterprise credit information publicity system display, Friesland Huishan Dairy Co., Ltd. registered in May 2013, is currently China Huishan Investment (Hong Kong) Limited is the sole shareholder, the registered capital of 5.8.8 billion in deposit renewal。The company 100% owned by the Huishan subsidiary, which also announced the initial Friesland, Hui Shan each holding 50% falls far short。  Huishan's debt restructuring is difficult to promote the rapid introduction of strategic investors has become the main way to alleviate the plight of the current capital chain。Some media reports, Huishan is in contact with COFCO, which intends to negotiation Huishan shares。  According to media reports, after executives Friesland related to "disk access" Huishan direct statement that "Friesland does not have this program, and will be closely following the development。"And when asked COFCO Huishan interested in acquiring shares in the news, COFCO Group, responsible person said that there will be a time to pass is issued, what news to pass is issued, whichever。In the industry observers that do not directly deny, is likely to mean that the two sides are in contact, COFCO acquired Huishan very "Me"。  Meanwhile, COFCO Hong Kong stock market is the company's largest shareholder, holding ratio of 23.92%。