Numerous junk stocks have always remained “stiff and not retired†through various means, and are increasingly being criticized by investors. ST Tianlong is one of the typical representatives. It has suffered a loss for 8 years in its 12-year listing, but in the end it miraculously survived. In the meantime, a series of operations and stories are confusing, obviously a worm, how can it not land?
On June 15, 2000, Shanxi Taiyuan Tianlong Group (600234) was officially listed on the Shanghai Stock Exchange, and the earnings per share for the year was 0.21 yuan. However, less than a year after the listing, Tianlong Group began to make huge losses. In 2001, Tianlong Group's earnings per share were -0.73 yuan.
In 2002, Tianlong Group became even more intensive, losing for the second consecutive year, with earnings per share of -1.50 yuan. In 2003, the Tianlong Group, which was about to withdraw from the market after three consecutive years of losses, suddenly reversed its fate. Its first major shareholder, the Taiyuan Municipal Finance Bureau, “actively†“transfers†most of the state-owned shares held by the company. The new owner was given, and the equity transfer was completed before the end of 2003. The new major shareholder is from Dongguan City, named "Jin Zheng Digital", a private enterprise that produces VCD and DVD.
Since then, in 2007 and 2008, Tianlong Group suffered a loss for the second time in two consecutive years. In 2009, the company had to find a way to restructure the report. For the third time in 2009, the Tianlong Group also escaped the doom of “three consecutive years of losses†for the third time.
Here, ST Tianlong is also a lot of problems inside. From the beginning of the arrest of the chairman of the board, to the subsequent internal power struggles, and then to the subsequent financial issues, ST Tianlong can be described as five poisons.
On November 10, 2011, the company disclosed the private placement plan. The company plans to issue additional shares to five targets, raising 375 million yuan to repay the company's overdue debts and replenish liquidity and invest in TFT-LCD (LED) optical film projects. The move was called “named by the market, and it was debt repaymentâ€. The funds raised were 375 million, of which 252 million were debts, and the investment in TFT-LCD (LED) optical film projects was only 100 million yuan. Moreover, the technical level of the partner company and the market structure of the fundraising project products have not been fully disclosed. Up to now, the fundraising project plant originally scheduled for mass production in early 2012 has not yet been completed. The obscuration and slow movement of ST Denon really makes people doubt their motives.
When everyone is helpless about a company that is "stiff and not retreat" like ST Tianlong, a series of new policies by regulators and exchanges have brought hope to the market. In the new regulations of the Shanghai Stock Exchange, the regulations for the delisting of assets for two years, the net profit before and after deducting non-recurring gains and losses for one year after the suspension of listing are negative, and the tactics of these companies have been used. Will be disabled, and there is not much time left. If these companies do not have real things before the end of the year, delisting will be inevitable.
On June 7, 2012, ST Tianlong announced that 38,107,160 shares of Taiyuan Tianlong Group Co., Ltd. held by Dongguan Jinzheng were registered and registered with Qingdao Taihe Hengshun Investment Co., Ltd., and Qingdao Taihe Hengshun Investment Co., Ltd. became new. Controlling shareholder. Changes in the company's controlling shareholder are likely to jeopardize the company's additional projects. Among the four subscription targets, Xinan Investment plans to invest 190 million yuan to subscribe for 34.342 million shares, which has occupied an important position in ST Tianlong's non-public issuance. However, Xin'an Investment and Dongguan Jinzheng are the holding subsidiaries of ST Tianlong's actual controller Tian Jiajun. Therefore, if Dongguan Jinzheng loses its controlling interest in ST Tianlong, Xinan Investment also loses its significance in participating in non-public issuance.
At the same time, the industrial and commercial information shows that Qingdao Taihe Hengshun was established on October 11, 2011 with a registered capital of 20 million yuan. The registered address is Hong Kong East Road, Laoshan District, Qingdao, and the legal representative confirms it. The company is mainly engaged in self-owned funds for foreign investment, investment management, investment consulting, economic information consultation, real estate information consulting and other business projects. Regardless of the paid-in capital, the registered capital is only 20 million. This shows that the strength of Qingdao Taihe Hengshun is too general, and the hope of turning the huge negative assets of ST Tianlong again is more embarrassing. Even if I have escaped this year, what should I do next year? It is unrealistic to turn a ST-Dragon, a disease-ridden one, without a financially strong controlling shareholder.
Without the additional issuance project, the new controlling shareholder did not give any force. With only half a year left, ST Tianlong might not be able to escape this time.
On June 15, 2000, Shanxi Taiyuan Tianlong Group (600234) was officially listed on the Shanghai Stock Exchange, and the earnings per share for the year was 0.21 yuan. However, less than a year after the listing, Tianlong Group began to make huge losses. In 2001, Tianlong Group's earnings per share were -0.73 yuan.
In 2002, Tianlong Group became even more intensive, losing for the second consecutive year, with earnings per share of -1.50 yuan. In 2003, the Tianlong Group, which was about to withdraw from the market after three consecutive years of losses, suddenly reversed its fate. Its first major shareholder, the Taiyuan Municipal Finance Bureau, “actively†“transfers†most of the state-owned shares held by the company. The new owner was given, and the equity transfer was completed before the end of 2003. The new major shareholder is from Dongguan City, named "Jin Zheng Digital", a private enterprise that produces VCD and DVD.
Since then, in 2007 and 2008, Tianlong Group suffered a loss for the second time in two consecutive years. In 2009, the company had to find a way to restructure the report. For the third time in 2009, the Tianlong Group also escaped the doom of “three consecutive years of losses†for the third time.
Here, ST Tianlong is also a lot of problems inside. From the beginning of the arrest of the chairman of the board, to the subsequent internal power struggles, and then to the subsequent financial issues, ST Tianlong can be described as five poisons.
On November 10, 2011, the company disclosed the private placement plan. The company plans to issue additional shares to five targets, raising 375 million yuan to repay the company's overdue debts and replenish liquidity and invest in TFT-LCD (LED) optical film projects. The move was called “named by the market, and it was debt repaymentâ€. The funds raised were 375 million, of which 252 million were debts, and the investment in TFT-LCD (LED) optical film projects was only 100 million yuan. Moreover, the technical level of the partner company and the market structure of the fundraising project products have not been fully disclosed. Up to now, the fundraising project plant originally scheduled for mass production in early 2012 has not yet been completed. The obscuration and slow movement of ST Denon really makes people doubt their motives.
When everyone is helpless about a company that is "stiff and not retreat" like ST Tianlong, a series of new policies by regulators and exchanges have brought hope to the market. In the new regulations of the Shanghai Stock Exchange, the regulations for the delisting of assets for two years, the net profit before and after deducting non-recurring gains and losses for one year after the suspension of listing are negative, and the tactics of these companies have been used. Will be disabled, and there is not much time left. If these companies do not have real things before the end of the year, delisting will be inevitable.
On June 7, 2012, ST Tianlong announced that 38,107,160 shares of Taiyuan Tianlong Group Co., Ltd. held by Dongguan Jinzheng were registered and registered with Qingdao Taihe Hengshun Investment Co., Ltd., and Qingdao Taihe Hengshun Investment Co., Ltd. became new. Controlling shareholder. Changes in the company's controlling shareholder are likely to jeopardize the company's additional projects. Among the four subscription targets, Xinan Investment plans to invest 190 million yuan to subscribe for 34.342 million shares, which has occupied an important position in ST Tianlong's non-public issuance. However, Xin'an Investment and Dongguan Jinzheng are the holding subsidiaries of ST Tianlong's actual controller Tian Jiajun. Therefore, if Dongguan Jinzheng loses its controlling interest in ST Tianlong, Xinan Investment also loses its significance in participating in non-public issuance.
At the same time, the industrial and commercial information shows that Qingdao Taihe Hengshun was established on October 11, 2011 with a registered capital of 20 million yuan. The registered address is Hong Kong East Road, Laoshan District, Qingdao, and the legal representative confirms it. The company is mainly engaged in self-owned funds for foreign investment, investment management, investment consulting, economic information consultation, real estate information consulting and other business projects. Regardless of the paid-in capital, the registered capital is only 20 million. This shows that the strength of Qingdao Taihe Hengshun is too general, and the hope of turning the huge negative assets of ST Tianlong again is more embarrassing. Even if I have escaped this year, what should I do next year? It is unrealistic to turn a ST-Dragon, a disease-ridden one, without a financially strong controlling shareholder.
Without the additional issuance project, the new controlling shareholder did not give any force. With only half a year left, ST Tianlong might not be able to escape this time.
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