Han Tang Securities Bankruptcy Case &Nbsp; Five Company 1 Billion 800 Million Market Capitalization Stock Debt

In April 1st, Nanfang shares issued a report on equity changes, revealing

It is understood that after the 2008 Han Tang Securities first bankruptcy property allocation scheme was approved by creditors, the company's second bankruptcy property allocation plan was finally awarded the Shenzhen intermediate people's court's ruling in January 2011.

In addition to monetary funds, bankruptcy assets allocated to ordinary creditors include five listed companies.

In March 31st, Nanfang textile issued a report on equity changes. According to the third creditors' meeting and the Shenzhen provincial intermediate people's court approved the "Han Tang Securities and the 46 shell company's second bankruptcy property allocation plan", the 51 million 636 thousand and 300 shares of Nanfang stock held by Han and Tang Securities will be allocated in kind.

The above shares account for 19.96% of the total share capital of the company, of which 18 million 609 thousand and 300 are the shares of the China Securities Investor Protection Fund Co. Ltd., accounting for 7.19% of the total share capital of the listed companies.

Statistics show that the Shenzhen intermediate people's court ruled in January 17, 2011 that the above second bankruptcy distribution plans were approved, and the bankruptcy property allocated to the ordinary creditors was divided into currency and stock. The former corresponds to the amount of 273 million yuan, while the latter includes five listed company stocks. Besides Nanfang textile shares, there are 26 million 105 thousand and 100 wave software companies, Feida environmental protection 18 million 81 thousand and 200 shares, China software 25 million 97 thousand and 500 shares and ST flowers 9 million 512 thousand and 200 shares, accounting for 14.05%, 12.92%, 11.12% and 11.12% of the total share capital of four companies, respectively.

If the closing price is calculated at the same day, the market value of the equity will exceed 1 billion 700 million yuan.

After the ruling of the Shenzhen intermediate people's court, the five companies have issued corresponding announcements, disclosing the distribution of these shares.

After the distribution, the shares of listed companies held by Han and Tang securities are only a fraction. As the wave software shareholdings of their shares are reduced to 14 shares, there are only 130 thousand shares left in China's software, while ST shares are distributed to 89 creditors, and less than 50 thousand shares remain.

Judging from the liquidation situation, some of the stock's corresponding liquidation rate is much higher than cash.

In December 2008, the second creditors' meeting adopted the first bankruptcy property distribution plan of Han Tang Securities.

As of November 30th of that year, the total amount of bankrupt assets that had been realized by Han and Tang Securities amounted to more than 4.8 billion yuan. After deducting the cost of paying bankruptcy expenses and common interest debts, the bankruptcy property allocated to the ordinary creditors was more than 4.23 billion yuan, and the total amount of bankruptcy claims that had been allocated and kept in the market amounted to more than 66 billion yuan.

The proportion of the first bankrupt property of Han Tang Securities was only 6.4%.

And after that, the creditors' meeting, which was passed in December 2010 21, was only 4.06% of the cash portion allocated by the Han and Tang Securities to the creditors for second times.

For example, the announcement of yesterday's announcement by the listed company's chetianhua disclosed that the total amount of bankruptcy property paid by the bankruptcy administrator of the Han Tang Securities Company was 23 million 670 thousand yuan, including 5 million 800 thousand yuan of money, 3 million 540 thousand yuan for the first time, 6.36% for distribution, 17 million 870 thousand yuan for stock assets, and 35.55% for the stock market.

In August 2004, the crisis of the capital chain of the Han and Tang Securities broke out. In September 3rd, there was a huge financial risk due to the serious violation of the regulations. The securities in the Han and Tang Dynasties were commissioned by XinDa Asset Management Co, and then entered the bankruptcy liquidation process.