*St Zhongrong ((000982): Jingxian Investment Bid For 40 Million Shares

The stock price of * ST Zhongrong, whose stock price was close to 1 yuan, was successfully auctioned. The buyer is a well-known investment institution, Jingxian investment, has participated in the private placement of several listed companies, and is now one of the top ten shareholders of Liaoning energy.

Successful auction of 40 million shares

The company announced earlier that the 40 million shares held by Ningxia Zhongyin cashmere International Group Co., Ltd. (hereinafter referred to as "Zhongrong group"), which owns more than 5% of the company's shares, will be publicly auctioned on taobao.com judicial auction network platform (ALI auction platform) of Shenzhen Futian District People's court.

On the evening of November 30, * ST Zhongrong announced that the auction of the above equity was completed on November 27 with a transaction price of 45.718 million yuan. The buyer was Shanghai Jingxian Investment Co., Ltd. (hereinafter referred to as "Jingxian investment"). The average transaction price was 1.14 yuan per share, which was close to the closing price on November 30.

* ST cashmere is the world's largest producer of cashmere products, with the largest purchase of cashmere raw materials in the world, and the export volume of cashmere yarn and products ranks first in China.

The company has been in debt crisis since 2017. From June 15 to July 3, 2017, the company had a one word limit for 13 consecutive trading days, with a decline of more than 60% in the whole year. Then * ST Zhongrong lost money for two consecutive years, with losses of 2.99 billion yuan and 2.732 billion yuan in 2018 and 2019 respectively.

In July 2019, the court ruled to accept the creditor's application for reorganization of the listed company. By the end of 2019, the restructuring plan has been implemented. Although the company's performance has stabilized in the first three quarters of this year, the share price has continued to fall this year, with a cumulative decline of more than 38%. The stock price bottomed out to 1.04 yuan per share.

The largest shareholder of the group is the passive shareholder. After the auction shares are finally transferred, the number of shares held by Zhongrong group will be reduced to 441 million shares, accounting for 10.36% of the total share capital of the listed companies.

The successor is a well-known institution

This time, the investment institution that took over the large shareholder stock of * ST Zhongrong has a good start and is a senior investor of a shares.

According to Tianyan data, Jingxian investment was established in 2000 with a registered capital of 30 million yuan. Both the legal representative and the actual controller are Huang Qiao, and the actual net assets have reached more than 300 million yuan. Jingxian investment is a comprehensive investment company. It is mainly engaged in the equity investment of listed companies and quasi listed companies. It is an important shareholder of many listed companies.

Jingxian has invested in several funds of GF Xinde Investment Management Co., Ltd., including Zhuhai Guangfa Xinde high growth modern service industry equity investment enterprise (limited partnership), Guangfa Xinde (Zhuhai) medical industry investment center (limited partnership), Zhuhai Guangfa Xinde environmental protection industry investment fund partnership (limited partnership), Zhuhai Guangfa Xinde aofei industrial investment fund I The investment amount is mostly 10 million yuan.

According to wind statistics, Jingxian investment has participated in the directional additional issuance of Huayi Electric, Xiangtan electrochemical and Kelu electronics. Among them, Huayi Electric (* ST Huayi and Kelu Electronics) are also in the process of wearing stars and hats.

Another joint-stock Company Xiangtan Dianhua. In May this year, Xiangtan Electric Power Co., Ltd. issued a fixed increase plan. Jingxian investment subscribed 21 million yuan in cash, with an average price of 6.90 yuan per share. At present, the latest closing price of Xiangtan Dianhua is 7.20 yuan / share.

In addition, Jingxian investment also shares in Liaoning energy. As of the end of the third quarter, Jingxian investment held 8.4774 million shares of Liaoning energy, accounting for 0.2696%, ranking the sixth largest shareholder.