Yiyang letter collection supervision work letter: verify the unconditional exit of Shanghai Huatu as soon as possible

Yiyang letter collection supervision work letter: verify the unconditional exit of Shanghai Huatu as soon as possible

Yiyang letter collection supervision work letter: verify the unconditional exit of Shanghai Huatu as soon as possible
Because the controlling shareholder Yiyang Group’s reorganization funds did not arrive as scheduled, Yiyang Xintong was issued a supervisory work letter by the Shanghai Stock Exchange.The Shanghai Stock Exchange’s supervision work letter shows that on April 1, 2020, Yiyang Xintong responded to the Shanghai Stock Exchange’s second inquiry letter about the company’s 2019 annual performance forecast correction.Uncertainty exists in the implementation of the reorganization plan. Eventually, the current 700 million reorganization funds have not arrived on schedule, the reorganization costs, and the source of funds for the settlement of employee debt rights are not clear.Currently, stocks face the risk of suspension of listing.The working letter of the regulatory agency of the Shanghai Stock Exchange stated that on March 28, 2020, the reorganization of investors replaced the payment of relevant funds as scheduled according to the reorganization plan; Yiyang Xintong, the controlling shareholder and the reorganization manager resumed verification of the reorganization investors as soon as possible.The specific circumstances of Huatu ‘s unconditional withdrawal, as soon as possible to extend the source of funds for bankruptcy costs, explain the reorganization of subsequent arrangements, fully break through the risks of bankruptcy liquidation, and timely supplement the information disclosure obligations.Obviously, Sauna Night reported a few days ago that the real controller behind the reorganization of Shanghai Huatu, the investor of Yiyang Group, was Zhang Enping. Zhang Enping and his company, a joint venture company named Huazhi Fund, had been restricted by the court in October last year, and the financial strength was unknown.The Shanghai Stock Exchange also said that at present, the reorganization investors have not paid the reorganization funds on schedule, and the company should fully promptly prompt the relevant risks, including the existence of major uncertainties in the implementation of the reorganization plan, the uncertainty in the performance forecast correction, and the company ‘s net assets may continue to beNegative, may suspend listing and so on.And in strict accordance with the relevant regulations, full, accurate and timely disclosure of important information related to reorganization matters, and in the same year audit firm, shareholders, reorganization managers and reorganization investors, the relevant information is true, accurate and feasibleVerify.In addition, in the regulatory work letter, the Shanghai Stock Exchange also paid attention to matters such as performance forecast adjustments, debt-to-equity price adjustments, and control of listed companies.Yiyang Group, which has been going on for one year, has reorganized the rebirth of the previous days.Yiyang Xintong announced on March 29 that Yiyang Group’s reorganization investors should pay the first part of the 700 million investment required by the reorganization plan before March 28, 2020. The above funds should be received before March 28.In its reply to the Shanghai Stock Exchange on April 1, Yiyang Xintong stated that whether the reorganization fund payment prescribed by the Yiyang Group ‘s reorganization plan is paid as scheduled, and whether the payment of related claims (including cash settlement and stock conversion) can be completedUncertainty, Yiyang Group still has the risk that the reorganization plan cannot be executed and the court declares bankruptcy and liquidation.Yiyang Group replied to the Shanghai Stock Exchange on April 1st that it resumed its reinvestment of the investor ‘s first phase of investment, which was not in place due to the severe impact of the force majeure of the new coronary pneumonia epidemic.During the period, if the enterprise bankruptcy and reorganization of investors is difficult to recruit or unable to formulate a feasible reorganization plan budget, the time for bankruptcy and reorganization may be appropriately extended. “Yiyang Group said that it is currently carrying out relevant work in accordance with the provisions of the reorganization plan, including but not planning to urge investors to invest as soon as possible.In addition, Yiyang Group said that in the case where creditors do not agree to transfer new reorganization investors or provide financial support, Yiyang Group will pay for bankruptcy expenses by disposing of property, common debts, employee debt rights and tax claims.The implementation of the reorganization plan will face potential risks and uncertainties.Editor Xu Chao proofreading Wei Zhuo