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The stock price has risen 7.7 times in a year! Loss of tens of billions of "copycat car king" is expected to protect the shell

Release Time:2022-04-13 Topic:How much did China Changsheng Group's share price rise? Reading:30 Navigation:Stock Liao information > Car > The stock price has risen 7.7 times in a year! Loss of tens of billions of "copycat car king" is expected to protect the shell phone-reading

Zotye, which once relied on its outstanding imitation ability to occupy the C position in the "car rim", is expected to "drive away" from the danger zone.

*ST Zotye disclosed on the evening of January 26Performance forecast, it is expected to achieve operating income800 million to 900 million yuan in 2021, which will be attributed to the parent Net profita loss of 400 million to 600 million yuan, and net assets are expected to be 3.5 billion to 4.5 billion yuan by the end of 2021. If successful, the company will apply to the Shenzhen Stock Exchange to withdraw the delisting risk warning after the annual report is released.

This means that in 2019 and 2020, the "King of Shanzhai" in the former automobile circle, which lost more than 10 billion yuan in both, is expected to be protected.

The glory of the former "king" is no more

Although the performance in 2021 is still a loss, compared with *ST Zotye has a huge loss of more than 10.8 billion yuan in 2020, and the company has achieved a significant loss reduction.

The announcement shows that the company's reorganization plan in 2021 has been completed, and it is expected to generate a reorganization income of 2 billion to 2.4 billion yuan. However, because the subordinate automobile production bases are basically in a state of cessation, the production and sales of complete vehicles are not large, and the total sales revenue is relatively low, resulting in a loss of operating results. At the same time, the company's main business vehicles businesses are all in a state of suspension, and the company plans to accrue Large-scale asset impairment provisions and bad debt provisions total about 1.3 billion to 1.9 billion yuan, so the company's overall performance in 2021 will be a loss.

According to the announcement, the company's net assets at the end of 2021 are expected to be about 3.5 billion to 4.5 billion yuan. If the company's net assets are positive at the end of 2021 after being audited by an accounting firm, it will apply to the Shenzhen Stock Exchange for revocation and withdrawal. Market risk warning.

That is to say, if everything goes well, this "shell" that was once on the verge of delisting will probably be saved.

Zhongtai has a very bright past. The original controllers, Ying Jianren and Xu Meier, were once the "richest man" in Yongkang, Zhejiang. As the first domestic car company to obtain the new energy vehicle production announcement catalog issued by the Ministry of Industry and Information Technology , Zotye once started by imitating and quickly "out of the circle", especially the Zotye SR9 model, the appearance of "high imitation" Porsche, only needs a price of over 100,000 yuan, which directly made "Borshitai" popular all over the country.

In 2016, Zotye Automobile entered its peak period, selling 330,000 vehicles throughout the year. It was in this year that the listed company Golden Horse Co., Ltd. acquired Zotye Auto at a price of 11.6 billion yuan, and the latter entered the capital track. At that time, the shareholder of Zotye Original Holdings, Tie Niu Group, promised to deduct non-net profit of not less than 1.21 billion yuan, 1.41 billion yuan, 1.61 billion yuan and 1.61 billion yuan respectively in 2016-2019. Yuan. But after that, Zotye Auto failed to continue the miracle, sales declined year after year, and the net profit after deducting non-exclusives has accumulated huge losses of more than 10 billion yuan in four years. At the same time, the parent company Tie Niu Group was in deep trouble and declared bankruptcy.

Huge losses, stagnant operations, capital occupation of related parties... As problems are exposed, *ST Zotye "rolled over" and fell to the bottom. In October 2020, Zhejiang Yongkang Rural Commercial Bank applied to Jinhua Intermediate Court for the reorganization of *ST Zotye. On September 30 of the following year, Jiangsu Shenshang became an investor in the restructuring of *ST Zotye.

The "white knight" rushed to the rescue

Looking back at this "life and death speed", the "accelerator" at the last moment is very important.

On December 28, 2021, *ST Zotye received the "Civil Ruling" from the Jinhua Intermediate Court, ruling to confirm that Zotye Auto's reorganization plan was completed. On the same day, seven subsidiaries of Zotye Auto received the "Civil Ruling" served by the Yongkang Court respectively, confirming that the reorganization plans of the seven companies have been completed.

On December 31, 2021, the company received the "Civil Ruling" from the Changsha Intermediate Court, and the Changsha Intermediate Court ruled to confirm the completion of the implementation of the subsidiary Jiangnan Manufacturing Reorganization Plan.

At the end of the year, *ST Zotye and its 8 subsidiaries "race against time" to complete the reorganization plan.

Jiangsu Shenshang, who took over the order, has a lot of background. Established in September 2020, Jiangsu Shenshang was registered in Nanjing. Its parent company, Shenshang Holdings, is a large-scale enterprise engaged in financial services, large-scale project investment and high-tech development and production jointly invested and established by more than 70 key private enterprises in Shenzhen. Private enterprise, the actual controller is Huang Jihong. Another identity of Huang Jihong is the actual controller of the A-share company Damag Group.

This time, when entering *ST Zotye, Jiangsu Shenzhen Merchants invested 2 billion yuan. After the equity change, Jiangsu Shenshang and its affiliated legal persons held a total of 1.2 billion shares of *ST Zotye, with a shareholding ratio of 23.67%.

On December 29, 2021, Huang Jihong signed the "Entrustment Agreement" with Jiangsu Shenshang, Wanchi Investment, Zhongfutongren, Lichi Investment, National Digital, Ye Changqing, and Jin Zhenshu, which Huang Jihong can control The voting rights corresponding to a total of 24.22% of Zotye Auto's shares have become the actual controller of Zotye Auto.

*ST Zotye's ups and downs K-line chart reflects the waves of destiny. After years of huge losses, the stock price of *ST Zotye was sluggish, hovering above 1 yuan for a long time from July 2020 to January 2021. After that, it suddenly rose from the ground, reaching a maximum of 10 yuan in November 2021, and it may continue to fall due to the uncertainty of the shell protection situation. On January 26, the daily limit was harvested, and it closed at 5.16 yuan.

From the perspective of financial investment alone, the latest market value of the stocks obtained by Jiangsu Shenzhen Merchants' investment of 2 billion yuan has reached 10 billion yuan.

However, price volatility eventually returns to value. *Can ST Zotye return to the track? In the reorganization agreement, Jiangsu Shenshang proposed a number of plans to help *ST Zotye.

However, it remains to be seen when *ST Zotye, who is tired and tired, will be able to get on the right track and "on the road" again.

(article source: Shanghai Securities


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