Tianshan Textile Restructuring And Twists And Turns To Seek Pformation In The Foreseeable Future

< p > < strong > > Tianshan < /strong > < a href= "http://www.91se91.com/" target= "_blank" > strong > textile > /strong > < /a > < > > the process of reconstructing can be described as "twists and turns, thorns everywhere".

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< p > May 16th, Tianshan textile announced that because of the reorganization of the underlying assets of Xinjiang's west mining subsidiary mining area mining difficulties, and therefore applied to the SFC to suspend the review, this is the Tianshan textile reorganization process started since the second encounter "Waterloo".

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< p > 2010, the Tianshan textile reorganization process began, intended to pform the mining industry, but its restructuring plan was rejected by the SFC after a year.

Then the application of a href= "http://www.91se91.com/news/index_c.asp" > Tianshan textile > /a > was postponed because of insufficient material submitted.

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< p > 2012 and 2013, the two assets of the underlying assets suffered mine accidents, and Tianshan textile finally applied for a suspension of the examination.

In fact, the restructuring plan is of great interest to Tianshan textile, and its staff also told the network in twenty-first Century that the time to resume the reorganization depends on the progress of the local government's mine disaster management.

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< p > < strong > the examination of the assets subject to another unexpected calamity is suspended. < /strong > < /p >

< p > the laggering Tianshan textile < a href= "http://www.91se91.com/news/" > restructuring < /a > the process was again subjected to "flying mischief".

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< p > May 16th, Tianshan textile announced that 1 of the deaths were caused by a safety accident in the reorganized mine, and the company submitted an application for suspension of reorganization review to the SFC.

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< p > the announcement said that in May 13, 2013, the main asset of the Xinjiang Wenzhou West Mining Co., Ltd., the main assets of the major asset reorganization paction, was the construction unit of the Wenzhou zinc mine of the I mining section of the loess slope mining company. A safety incident occurred during the underground production operation, resulting in a site worker being seriously injured, and then died after rescue.

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< p > announcement said, because the accident unit is in the rectification stage, there is a certain uncertainty when it can be passed through the inspection and recovery. Therefore, the application to suspend the reorganization examination is submitted to the SFC. After the impact of the related matters on the reorganization is eliminated, the application for resuming the review will be submitted to the SFC.

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The news of P is undoubtedly exacerbated by the already difficult restructuring process, and its impact will soon be reflected in the market.

On the day of May 16th, Tianshan textile opened at a price limit of 9.14 yuan, and has been in a state of weak rebound. In May 17th, it closed at 9.22 yuan / share, but there was no sign of rebound.

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< p > in fact, this is not the first accident in the mine.

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< p > July 20, 2012, the same mining area, the same construction unit, there was a safety accident which caused 1 deaths.

Subsequently, the construction unit Wenzhou second well lane engineering company was ordered to suspend work rectification by the local government until August, resumed on the 10 day.

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< p > the mining accident did not affect the reorganization process of Tianshan textile at that time.

But it is worth noting that the Tianshan textile was delayed until August 2nd, that is, 13 days after the accident.

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< p > a market person told the network in twenty-first Century that the quality of the restructured target assets is the key to whether the reorganization can be passed. If the mine disaster in 2012 still had the chance of letting Tianshan textile get fluke, then the same mine in 2013 had the same mine again, indicating that there were some problems in the internal management of the target assets, which made Tianshan textile have to be cautious and give up the restructuring examination temporarily.

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< p > Guide: Tianshan textile reorganization was attacked by the mine disaster again. In fact, this is not the first accident in the mine.

Because of the slow progress of restructuring and the factors that have been rejected by the SFC, the restructuring of Tianshan textile industry is particularly difficult.

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< p > the process of restructuring is twists and turns, seeking pformation in the foreseeable future, < /p >

< p > the restructuring process of Tianshan textile is twists and turns.

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< p > because of the slow progress of restructuring and the factors that have been rejected by the SFC, the restructuring of Tianshan textile industry is particularly difficult.

Tianshan textile has nearly 3 years since its start and reorganization, and has finally harvested the fruit of "suspension of censorship".

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< p > because the main business is single, Tianshan textile has been on the brink of loss since 2008.

Since 2008, the company has struggled between losses and profits.

According to public information, in the first quarter of 2013, the loss of Tianshan textile reached 8 million yuan, which was more than half of that in 2012. If the company continues to lose money in 2013, the company will be put on the "*ST" cap with a delisting warning for two consecutive years of losses.

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Under such a background, Tianshan textile has been seeking to break the current situation of single main business and pform into diversified operation. < p >

In June 17, 2010, Tianshan textile and controlling shareholder Katie Xinjiang mining investment Limited by Share Ltd signed an agreement on asset purchase. It bought shares of Xinjiang Xi Tuo mining company limited by a total of 75% of the shares issued by Tianshan textile to Katie mining company in order to succeed in pition.

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Since P, the reorganization of Tianshan textile has started, but the process is not smooth.

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< p > October 22, 2010, Tianshan textile received the notice of administrative licensing application acceptance by the SFC, and the audit process started; < /p >

< p > April 18, 2011, the reorganization plan was rejected by the SFC's merger and reorganization committee, and Tianshan textile started the material preparation for the administrative review; < /p >

< p > July 29, 2011, Tianshan textile again received the "Notice of administrative licensing application acceptance" by the SFC, and the second audit process began; < /p >

< p > October 17, 2011, Tianshan textile received "a href=" http://www.91se91.com "> SFC < /a >" a notice of feedback on the examination of administrative licensing items ", and the SFC requested the company to receive a reply within 30 working days of the" feedback notice "; < /p >

< p > November 26, 2011, due to failing to provide the necessary feedback materials to the SFC on time, the Tianshan textile application was postponed to submit feedback response materials; < /p >

Since then, P has not been able to provide feedback materials to the SFC until May 16, 2013.

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< p > during this period, due to the timeliness of relevant written materials and other issues, Tianshan textile constantly reorganized and restructured party to amend the takeover agreement and profit compensation agreement. Many supplementary agreements were abolished due to timeliness.

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"P > Tianshan textile May 20th morning told J reporters that it is not yet clear when to resume the application for reorganization audit to the SFC.

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