Busen Shares Pledge Equity Disputes Continue To Love Investment Boss Or Out Of Nothing.

In January 4th, Busen shares (002569, SZ) announced that the first intermediate people's Court of Shanghai has issued a notice of equity auctions, which will disclose the shares of 22 million 400 thousand shares held by auction companies's controlling shareholder, Chongqing an Han Technology Co., Ltd. (hereinafter referred to as "an Technology"), accounting for 16% of the total number of shares of the company.

Once the auction is completed, it means Busen shares will be changed again in less than two years.

In addition, if the amount of the auction is insufficient to repay, the court will seal up, seize or auction, and sell the property that the executor sees in the corresponding value, such as technology, Zhao Chun Xia and so on.

This also means that when the P2P platform, which has spent about 1000000000 of Busen's initial purchase of Busen, loves to invest in the backstage boss, it may face the outcome of being kicked out of the game.

Pledged equity disputes continue

In October 2017, it saw a 16% stake in Busen shares at a cost of 1 billion 66 million yuan.

Zhao Chunxia is a real controller.

Shanghai Rui Jiji is the second largest shareholder of the company by 13.86% of its shareholding, and the voting right is entrusted to the science and technology.

But with the advent of technology and Zhao Chunxia, Busen shares were embroiled in various litigation disputes.

Investor net combed relevant information found that shortly after the completion of the pfer of equity technology, security technology will pledge all 22 million 400 thousand shares to Warburg trust.

Due to the impact of the fall in share prices, in June 2018, Busen shares announced that the 22 million 400 thousand stocks of the company's pledge to the Warburg trust have all touched the closing line.

At the end of July 2018, Warburg trust applied for the first intermediate people's Court of Shanghai to enforce the obligation to buy back the technology. The court decided to freeze the 22 million 400 thousand stocks held by the technology.

In December 6, 2018, the court announced a public auction of some of the shares.

There are no blessings.

In January 9, 2019, the Shenzhen stock exchange sent a letter of inquiry to Busen, asking the company to elaborate on several cases of loan disputes occurred last year.

The Shenzhen Stock Exchange asked the company to explain the details of the loan dispute and whether it had fulfilled the review procedure and information disclosure obligations for the relevant borrowers. If so, it must specify the circumstances.

It also requires the company to explain the details of the guarantee provided for the above loan, including, but not limited to, the time of the guarantee, the amount, the specific circumstances of the guarantee obligation, etc., and clearly states whether the relevant guarantee constitutes a breach of the prescribed procedure for providing guaranty to the outside party.

At the same time, the company is required to fully examine the freezing of bank accounts and whether there is any new freeze.

It is understood that the dispute occurred between June and the end of June last year, between Busen shares and Deqing County SME financial services center limited, Zhu Dandan, Shenzhen letter fusion wealth Cci Capital Ltd.

High performance losses

Although Busen shares said in its January 4th announcement, the company and its controlling shareholder, technology and technology are different subjects. The company remains independent from its controlling shareholders in terms of assets, business and finance. The matter will not have a major adverse effect on the normal production and operation of the company, and the company's daily operation and production activities are normal.

But Busen shares, which has been dominated by men's wear, has been an indisputable fact in recent years.

According to the company's announcement, the company's net profit loss in 2017 was 33 million 807 thousand yuan; in the first three quarters of 2018, the net profit of Busen shares was 5 million 561 thousand and 900 yuan.

According to Busen's shares, the company's net profit of -200 is between 10000 yuan and 5 million yuan in 2018, and its growth rate is 94.08% to 114.79%.

But if Busen shares can't make a big profit in the fourth quarter of 2018, the company will face the risk of being ST.

In addition, in August 15, 2018, the Zhejiang regulatory authority of the SFC issued a notice of conversation to Busen shares and decided to "talk about the actual controller and chairman Zhao Chunxia". But Zhao Chunxia did not go ahead with the notice time, nor did he make another appointment with the Zhejiang regulatory authority.

In addition, Busen shares are facing high level turmoil while losing their performance.

In August 23, 2018, Yuan Jianjun, chief financial officer of Busen shares, resigned.

On October 16, 2018 and 18, chairman of the board of supervisors Cai Zhongzhong and director Hu Shaoyong resigned.

In December 3, 2018, Zhou Yue, the representative of securities affairs, resigned.

It is also noteworthy that Busen shares announced in December 24, 2018 that it had announced the termination of the acquisition of controlling rights of Beijing Mccauley Technology Co., Ltd. (hereinafter referred to as: Mccauley).

It is understood that Mccauley is one of the largest chain of communication products in China, and has entered into a strategic partnership with telecom operators and major brand mobile operators.

In response, the Shenzhen stock exchange sent a letter of inquiry on 25, about the cause of the failure. Busen shares explained that the long audit cycle and the uncertainty were not conducive to the formation of cooperation between the company and Mccauley as soon as possible.

Although Busen shares the view that Mccauley operates a total of 51 "Jingdong house" and "Jingdong stores" stores, the current operating situation is good, but the actual price earnings ratio in the future is also difficult to predict, and this investment Mccauley's overall valuation of 200 million, the valuation is also high.

Zhao Chunxia's embarrassment

Zhao Chunxia, the real controller of Busen shares, is also a real controller of P2P platform's love investment.

Since last year, like many P2P platforms, love investment has also been in great trouble.

In August 2018, the debt of love investment was overdue. As of September 30th of that year, the total amount of loans invested by AI investment platform was 42 billion 118 million yuan, the loan balance was 13 billion 190 million yuan, the overdue amount was 2 billion 448 million yuan, and the number of overdue pens was 9137.

According to the overdue data of 119 P2P platforms disclosed by mutual Gold Association, according to the number of projects, the overdue rate of AI investment platform is as high as 77.19%, ranking the top 119 domestic similar platforms.

Investor net carding found that in July 2018 and August, love investment publicly announced the two reminder of debt.

The reminder list includes 8 companies, including Tianbao food (002220.SZ), *ST rich control (600634.SH), *ST Tianye (600807.SH), Ren Zhi share (002629.SZ), Golden Shield (300411.SZ), Galaxy bio (000806.SZ), Tiancheng holding (600112.SZ), *ST quasi oil (002207.SZ) and so on.

However, as love investment overdue events intensified, a series of capital players hiding behind Zhao Chunxia emerged.

The announcement of love investment shows that these capital players borrow from different companies to the platform, and some individual companies borrow money on platform for up to 200 million yuan.

By investing in this P2P platform through love, Zhao Chunxia links herself with many capital systems. For the latter, she is both a "creditor", a partner and an investment target.

The complex relationship with many capital players has caused Zhao Chunxia and AI investment to be questioned.

Why is the investment platform net loan product overdue? Why does the platform refuse to publish all the debt overdue enterprises? Why can the same enterprise borrow hundreds of millions of dollars on the platform? Where did Zhao Chunxia get the about 1000000000 capital of Busen shares? The investor net reporter sent a letter to love investment on related issues, but as of press release, the other side has not yet replied.

It is worth noting that the market value of Busen will only be more than 200 million yuan. The current situation is that Zhao Chunxia can not even raise 200 million yuan in saving money by disposing of love investment equity.

As for how to make progress in the later stage, investors net will continue to pay attention.