Mei Xinda And Major Shareholders Financial Distress Control Shareholder 99% Shares

In July 18th, 002034.SZ released its holdings.

The pledge of shares, plus the pledge, has been pledged by more than 99% of the shares held by the controlling shareholder.

According to the reporter's estimate, before and after several pledged, it can finance about 250 million yuan for the shareholders of the company.

The capital chain of the listed company, which contributed to the financing of shareholders, is also facing the test.

In addition, 5, June, the company's supervisors and independent directors have left their posts one after another.

Actual controller pledge 99% shares

Financing 250 million yuan successively?

In July 18th, Mei Xinda announced the announcement of controlling shareholder's equity pledge. Recently, the company received a notice from its controlling shareholder, Jianming, and was informed of Dan Jianming's need for financing for the group. The company sold 7000000 tradable shares of its company (8.63% of the total shares of the company) to the Huaxin trust.

And Jian Jianming holds 28732545 shares of the company's shares, accounting for 35.42%. of the total shares of the company. As of the announcement date, Dan Jianming accumulatively pledged 28729409 shares of the company, up to 99.36% of its total shareholding, accounting for 35.19%. of the total share capital of the company, and all of those shares were sent to Hua Xin trust.

According to public information, as of now, the actual controller Dan Jianming of Mei Xinda holds 35.42% of Mei Xin Da, and his wife owns 4.43% of the shares. In addition, Jian Jianming holds 90% of the group, while Mei Xin Da holds 6.64% of the company.

Dan Jianming started financing in 2010 through the pledge of equity.

In March 3, 2010, Shan Jianming pledged 7180000 shares of tradable shares (8.85% of the total number of shares) to CITIC Trust.

In September 23, 2011, Jian Jianming sent a pledge to 21549409 senior executives of the company to lock up the shares (26.56% of the total shares) to the Huaxin trust.

In April 24, 2012, Mei Xinda announced that in April 23, 2012, the 7180000 shares of the unrestricted tradable share (8.85% of the total stock) were mortgaged to the Bank of China for the lifting of the pledge. On the same day, the shareholders of the company, the United States Xinda group (as of March 31, 2012, directly held 5384598 shares of the company's stock, accounting for 6.64% of the total share capital), were able to pledge the pledge to the 5320000 shares of the Hong Kong trust trust's 5320000 tradable shares (6.56% of the total share capital).

In less than three months after the lifting of the pledge, is it really urgent for the group's capital demand to pledge again?

According to the official website of Mei Xinda group, at present, apart from the textile and dyeing board of the company, the company also has several environmental protection energy, real estate development, pharmaceutical and chemical, project investment and other sectors.

Because of the national macro-control, our real estate developers are facing the situation of financial shortage.

For the equity pledge in the market, trust companies usually press

5 to 30 percent off loans.

If the closing price of equity pledge is registered in September 23, 2011 and July 13, 2012, 19.62 yuan / share and 10.67 yuan / share are calculated separately. The value of the 28 million 730 thousand pledge of the 2 pledge before and after Jianming is about 497 million yuan, and if 50 percent off, the Melinda group can get about 250 million yuan of funds.

Supervisor's independent director resigned one after another

Capital chain or challenges

The capital demand of the group is relatively large, and the fund side of the listed company is also not abundant.

In 2012, a quarterly report showed that the total revenue of the company was 1-3 yuan in 2012, 236 million yuan, down 24.89% from the same period last year. Net profit was -464 million, down 107.08% compared with the same period last year. The net cash flow generated by business activities was -1139 million yuan, down 167.07% from the same period last year. {page_break}

According to a quarterly report, the total assets of the company amounted to 876 million yuan, namely, 192 million yuan in currency capital, 25 million 140 thousand yuan in receivables, 114 million yuan in receivables, 16 million 470 thousand yuan in advance, 276 million yuan in other receivables, 253 million yuan in inventory, and a total of 818 million yuan in current liabilities, including 250 million yuan in short-term loans, 115 million yuan in payable notes, 115 million yuan in payable accounts, $18 in advance, and $8 in salaries payable.

In March 18, 2011, according to the agreement, Mikin Dachiko company Jingzhou ODA pferred an area of 315743.08 square meters in Jingzhou, Hubei, to Jingyuan reserve, the price was 301 million yuan, and the pre tax profit and loss generated by the sale was 77 million 340 thousand yuan.

In 2011, Jingzhou ODA company has received 121 million yuan for land acquisition.

According to the contract, before June 30, 2012, Jingyuan reserve will also pay 150 million yuan for compensation. Before September 30, 2013, Jingyuan reserve will pay 39 million 930 thousand yuan for the remaining compensation.

If not for the amount of land received by us, 121 million yuan, Mei Xin Da may have little cash flow at the moment.

Although at the end of March 2012, there was 192 million yuan in its monetary fund, but in the face of short-term loans of 250 million yuan, the fund chain of Mei Xin Da was already very tense.

Even if we calculate the amount of $150 million payable in Jingyuan reserve before June 30th, the bills payable of 115 million yuan, the payable accounts payable of 140 million yuan, the tax payable of 101 million yuan, the capital chain of Mei Xinda is also facing challenges.

Prior to the announcement, the resignation report of Xu Zhigao, the company's staff representative supervisor, was received in May 25th.

In June 14th, Mei Xinda received the resignation report submitted by Sun Yuhui, an independent director.

Therefore, some investors have recently left their supervisors and independent directors linked with the company's cash flow tensions, and think that the company's capital chain may actually encounter problems.

In July 18th, the reporter telephoned

Secretaries Liu Zhaohe wanted to know the relevant questions, but the other side declined to respond to the meeting.