Huafang Textile Free ST Hundreds Of Millions Of Related Guarantees On The Edge Of Suspicion

2012, China Spin The industry is experiencing an ice age, and more than 20% fashion brands are moving the factory away from China. In the middle of 2012, 28 of the 43 listed companies in the textile industry were negative growth and 12 were losing money, while Huafang textile (600273.SH) ranked fourth in the loss list with net profit of -3376.34 million.

For Huafang textile, which has been losing money for a year and a half, although the land may be stored and stored, even if it is bought and sold, it is still unknown whether the money can be made up for the loss. Huafang textile has actually been away from the edge of "ST".

The more urgent the moment is, the easier it is for the sword to go forward. Some investors said that Huafang textile provided a huge guarantee to related parties not only suspected of "pre emptive" but even the disclosure of guarantee amount.

　　 Free "ST" edge

Statistics show that in the 43 listed companies of Shenyang Wanguo textile manufacturing, by the middle of 2012, there were 28 negative revenue growth, 33 negative net profit, and 12 companies losing money.

In the middle of 2012, Huafang textile company made a net profit of -3376.34 million, ranking fourth in a loss making enterprise and its net assets earning rate was -5.96%.

As a matter of fact, Huafang textile has been in a losing position since the middle of 2011, and it lost 295 million yuan by the end of 2011. In the middle of 2012, Huafang textile also lost 33 million 763 thousand and 400 yuan. If we removed 20 million 437 thousand and 800 yuan of government subsidies, the loss would exceed 50 million yuan, and the deficit increased by nearly 9 over the same period last year.

A brokerage analyst admitted that in addition to Huafang textile itself, the textile industry downturn, Huafang textile loss in 2012 or has become a foregone conclusion, the company for two consecutive years of loss, will face the fate of ST.

Related guarantees?

In January 5th, Dai Yunda, chairman and general manager, resigned from the general manager with limited energy. The general manager was replaced by Wang Dongming, the company's managing director and deputy general manager, while Dai Yun Da was still the chairman.

According to the 2012 China Daily, Huafang textile in November 2, 2010 -2011 November 1st for Huafang group Zhangjiagang cotton Co., Ltd. (hereinafter referred to as "Zhangjiagang cotton industry") guarantee 500 million yuan has been fulfilled, and added a guarantee of 410 million yuan, the guarantee period is January 20, 2012 -2013 January 19th.

That is to say, after 15 days of Wang Dongming's general manager's support, Huafang textile provided a guarantee of 410 million yuan to related parties.

According to Shanghai Negotiable securities Article 10.2.6 of the rules for the listing of stock exchanges stipulates that the guarantee provided by a listed company for the affiliated party, regardless of the size, should be disclosed in time and be submitted to the shareholders general assembly for consideration after the deliberation of the board of directors. The 410 million yuan guarantee did not disclose information in time, nor did it notice the board's deliberations.

Does Huafang textile provide a guarantee for Zhangjiagang cotton industry, a subsidiary of Huafang group?

An investor with more than ten years of investment experience told China's capital stock network that this is rare in the capital market, and that the board has little knowledge of the company's huge guarantee.

The guarantee amount is not right?

In April 25th, the fifth nineteen board resolution of Huafang textile showed that the company passed the "motion of Limited by Share Ltd on the 2011 guarantee and the 2012 annual external guarantee is expected (including controlling shareholders Huafang group and related parties to provide long-term mutual guarantee)" and passed the shareholders' General Assembly's deliberation in May.

The announcement of the 2012 annual external guarantee plan is also a "fight" with the guarantee amount in the 2012 China Daily.

The forecast of external security in 2012 shows that as of the announcement date, the guarantee balance for the Zhangjiagang cotton industry is 194 million 600 thousand yuan, and the guarantee balance for Huafang Jintian Textile Co., Ltd. (hereinafter referred to as "Jintian textile") is 183 million 960 thousand yuan.

In 2012, the China Daily reported that the guarantee amount of Huafang textile was 410 million yuan for Zhangjiagang cotton industry, the guarantee period was January 20, 2012 -2013 January 19th, and the guarantee amount of Huafang textile was 190 million yuan. This is shown in the prediction of external security in 2012, which is consistent with the estimated guarantee amount for 2012 years of Huafang group cotton Co., Ltd. (Zhangjiagang cotton industry) and Jintian textile, but it is obviously not consistent with the above guarantee balance.

Some investors said that Huafang textile provided a huge guarantee to related parties. Not only could there be a "pre emptive strike", even a single guarantee amount existed, but the company's internal control situation was worrying.

In this regard, in October 19th, China capital The securities network is linked to Zhao Jiangbo, a textile Constable of Huafang, but it says it is not convenient to reply on the outside.