98.81%, The Controlling Shareholder Of The Company Is Close To "Full Warehouse" Pledge.

In order to guarantee the financing, the 600137 of the controlling shareholder of the Sha Sha Holding Group Co., Ltd. (hereinafter referred to as "the Sha Sha group") has repeatedly pledged its shares. On the evening of August 14th, the announcement of the release of a group of Pledged Shares by the Sha Sha group aroused market concern. As of the evening of August 14th, the shares owned by the group were close to "full warehouse" pledge. In the industry view, the risk of large scale shareholder pledge can not be ignored. Once the company's stock price falls, large shareholders fail to take timely margin or additional collateral strategy, there will be a risk of liquidation, which will adversely affect the company's sound operation.

According to the announcement of the company, the company received a letter from the controlling shareholder of the company in August 14, 2019 and informed him about the stock pledge that he would hold in the shares of the company. Specifically, the group will hold the 3 million 750 thousand shares of the shares of the group, and pledge it to the Yiwu branch of Huaxia Bank Limited by Share Ltd, which accounts for 3.86% of the total shares of its holding company. In August 13, 2019, it handled the pledge registration procedure at the Shanghai branch of China Securities Depository and Clearing Co., Ltd. The duration of the equity pledge has been extended to the Shanghai branch of China Securities Depository and Clearing Co., Ltd. for 12 months from the date of pledge registration in August 13, 2019.

The group said that it will hold 3 million 750 thousand shares of the non restricted tradable shares of the shares of the group and pledge the loan for the purpose of financing. In fact, for the purpose of financing guarantee, the group has pledged several times. In November 9, 2018, the company announced that 7 million 500 thousand shares of the group had been pledged, accounting for 18.07% of its total shares, and the duration of the pledge was 36 months.

As of August 14th, the Group owned 41 million 495 thousand and 355 shares of the company, accounting for 42.68% of the total shares. As of the announcement date, the group has accumulated Pledged Shares of 41 million shares of the company, accounting for 98.81% of the total number of shares held by its company.

In the new era, Pan Xiangdong, chief economist of securities, looks at the high risk of large scale pledge of large shareholders of listed companies. If the stock price is down, the relevant shareholders fail to take the strategy of making up the margin or additional collateral in time, there will be a risk of liquidation, which will have a great impact on corporate governance and daily operation. Xu Xiaoheng, an investment and financing expert, also said that under the situation of large fluctuations in the stock price of the two tier market, the risk of large shareholders' high proportion of pledge will be more concentrated. While facing the risk of explosion, it will directly affect the stability of the company's production and operation and control rights.

The company said that at present, the company has pledged to hold 41 million shares of the shares of the shares of Sha Sha, and there has been an early warning of liquidation. The remedial measures for risk mitigation are the company's credit standing in good condition, with the ability to repay the funds and make repayment in advance. In response to related issues, the Beijing Commercial Daily reporter called the office of the executive director of the Sha Sha stock exchange for an interview, but as of press release, the phone was not answered. Author: Liu Fengru