trainee reporter heard that
PAG Investment Group was "rushing to help", is this true?
On the evening of April 22, the Shenzhen Stock Exchange issued a letter of concern and issued the above questions to Zhongnan Construction.
Market news, on the afternoon of April 20, Zhongnan Urban Construction, the controlling shareholder of Zhongnan Construction, led by the People's Government of Haimen District, Nantong City, negotiated debt resolution and equity transactions with the famous Asian private equity investment company PAG Investment Group and Jiangsu Assets. Waiting for cooperation. Zhongnan Construction confirmed the matter to the media.
Affected by the above-mentioned good news, Zhongnan Construction closed the daily limit at the opening of April 21.
sorting out the timeline shows something strange. On the eve of the above-mentioned good news, Zhongnan Construction issued its second announcement on April 19, warning of the risk that "the company may be terminated from listing because the closing price of the stock is continuously lower than 1 yuan/share."
Important news has not yet been announced
Public information shows that PAG Investment Group is a private equity company specializing in investing in Asia. It is known as the "Little Black Stone of Asia". Its business covers private equity, real estate investment and private credit and other fields. It is a well-known investment Projects include Zhenai.com, Wanda Commercial Management, Osaka Universal Studios, Tencent Music, Nayuki’s Tea, etc.
For Zhongnan Construction, it is important good news that its controlling shareholder Zhongnan Urban Construction has negotiated cooperation with institutions such as PAG Investment Group and Jiangsu Assets. Zhongnan Construction also confirmed the news to some media.
However, Zhongnan Construction has not announced the above important news as of the evening of April 22.
Shenzhen Stock Exchange requires Zhongnan Construction to explain the authenticity of the above matters. If there are indeed the above matters, Zhongnan Construction should explain the specific content, time schedule and progress of the cooperation between Zhongnan Urban Construction and PAG Investment Group, and analyze the feasibility of relevant cooperation.
Zhongnan Construction also needs to explain whether Zhongnan Urban Construction and the actual controller plan to carry out equity transfer, asset reorganization, and other matters that have a significant impact on the company.
is facing a delisting crisis
The reason why the Shenzhen Stock Exchange is concerned about the authenticity of this negotiation is that Zhongnan Construction is encountering a "delisting" problem.
html On April 18, the closing price of Zhongnan Construction was 0.84 yuan/share. In the evening of the same day, Zhongnan Construction announced for the first time that the company was at risk of being terminated from listing because the closing price of the stock was continuously lower than 1 yuan per share.
If the closing price is lower than 1 yuan per share for ten consecutive trading days, Zhongnan Construction will be terminated from the Shenzhen Stock Exchange. On April 19, the closing price of Zhongnan Construction was 0.76 yuan/share, down 9.52%. It has been lower than 1 yuan/share for eleven consecutive trading days.
After the above-mentioned good news came out, the share price of Zhongnan Construction reached the limit on April 21, and the closing price returned to 0.84 yuan per share on April 18.
Shenzhen Stock Exchange requires Zhongnan Construction to explain that the company has received media interviews, surveys from institutional and individual investors, and responded to inquiries in the past month to verify whether there are any non-statutory information disclosure channels that have a significant impact on the company's stock price or investment decisions. information; whether there is a violation of the principle of fairness in information disclosure; whether there is other undisclosed information that should be disclosed; whether there is any situation that actively caters to the market and speculates on the company's stock price.
At the same time, Zhongnan Construction must verify the buying and selling of company stocks in the past month by its controlling shareholders, actual controllers, shareholders holding more than 5% of the shares, directors, supervisors, senior managers and their immediate family members.
In addition, Zhongnan Construction must explain whether its fundamentals have undergone major changes based on its industry, main business operations, financial situation, etc., and provide adequate risk warnings regarding large fluctuations in stock prices.
Zhongnan Construction’s two core businesses are real estate business and construction business. The net profit attributable to the parent company in 2023 will be -5.293 billion yuan, and the net profit after non-deducting non-profits will be -4.627 billion yuan. The 2023 financial report was issued with the relevant theme of sustainable operations. An unqualified audit opinion on significant uncertainty paragraphs.
Since Zhongnan Construction’s audited net profit attributable to the parent company and net profit after non-deductions in 2021, 2022 and 2023 are all negative, according to Article 9.8.1 of the "Shenzhen Stock Exchange Stock Listing Rules", company shares will be Implement other risk warnings.
Editor: Captain
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