On November 10, Guangzhou Langqi Industrial Co., Ltd. (hereinafter referred to as "*ST Langqi" or "Company", stock code: 000523. SZ) resumed trading today, the opening is up and down, but the good times are not long, the stock price quickly declined, as of the close, * ST Langqi sideways adjustment at 3.84 yuan / share.
Yesterday evening, *ST Langqi announced that the "Draft Reorganization Plan" has been approved by the company's voting groups, but it is worth noting that at the same time as announcing this information, *ST Langqi also carried out risk warnings.
In the ups and downs of stock prices, there are also investors who are worried. As of October 29, the number of shareholders of *ST Langqi was 25,900, and the average market value of each household was 88,500.
In fact, *ST Langqi this company is not unfamiliar in the eyes of netizens, and has previously rushed to the Weibo hot search list three times for topics such as "losing 572 million yuan of inventory", "more than 67 million deposits were frozen", "losing 30 years of profits saved in a year".
<b>The reorganization draft has been adopted</b>
<b>*ST</b> <b>Langqi has mixed feelings</b>
On the evening of November 9, *ST Langqi announced that the company's first creditors' meeting had been held at 9:30 a.m. on November 9, and according to the manager, all voting groups of the company had passed the "Reorganization Plan (Draft)" of Guangzhou Langqi Industrial Co., Ltd. (hereinafter referred to as the "Draft Reorganization Plan"). *ST Langqi resumed trading from the opening of the market today (November 10).
Source: Company Announcement
According to the "Draft Reorganization Plan", based on the existing share capital of Guangzhou Langqi of 628 million shares, the capital reserve will be converted into increased share capital in the proportion of about 15.69 shares for every 10 shares, and 985 million shares will be converted (the exact number of shares finally transferred will be subject to the actual number of registered and confirmed by Zhongdeng Company), and the total share capital of Guangzhou Langqi will increase from 628 million shares to 1.612 billion shares after the conversion.
Of which 944 million shares will be used to satisfy debts, 0.41 billion shares will be transferred by the reorganization investor Guangzhou Light Industry and Trade Group Co., Ltd. at a closing price of 3.69 yuan per share on June 8, 2021, according to the closing price of 3.69 yuan per share on the date of determining the reorganization investor, and the conditions for the transfer of shares are set for a restriction period, the injection of assets, and the provision of funds to solve the cash settlement of less than 100,000 yuan of claims.
After the transfer of the above-mentioned capital reserve into additional shares, Guangzhou Light Industry and Trade Group Co., Ltd. is still the highest shareholder of Guangzhou Langqi, plus the original 195 million shares, accounting for 14.60% of the total share capital after the completion of the reorganization plan.
At the same time as the "Draft Reorganization Plan" was passed, *ST Langqi also carried out risk warnings. *ST Langqi said that if the company successfully implements the reorganization and completes the reorganization plan, it will help optimize the company's asset-liability structure and enhance the company's continuing operations and profitability; if the reorganization fails, the company will have the risk of being declared bankrupt. If the company is declared bankrupt, the company's shares will face the risk of being terminated according to the relevant regulations.
In addition, *ST Langqi also said that on January 8, 2021, it received the "Notice of Investigation" from the China Securities Regulatory Commission, and due to suspected violations of laws and regulations on information disclosure, according to relevant regulations, the China Securities Regulatory Commission decided to file a case for investigation. As of November 9, the CSRC's relevant investigation work is ongoing. At present, the company's production and operation activities remain normal. If the company is subject to administrative penalties by the CHINA Securities Regulatory Commission for the above-mentioned case filing and investigation matters, and the illegal acts constitute a situation of forced delisting in a major violation of the law, there is a risk that the company's shares will be forcibly delisted.
*ST Langqi said that in view of the uncertainty that there is still uncertainty about whether the above-mentioned restructuring plan can be approved by the court, the company's board of directors will continue to pay attention to the progress of the matter and disclose it in strict accordance with relevant laws and regulations.
As can be seen from the above risk tips, *ST Langqi's restructuring road is obstructed and difficult.
<b>The opening limit is higher and lower</b>
<b>Share bar fryer</b>
News of the passage of the Draft Reorganization Plan quickly caused ripples in the stock market.
On the first day of the resumption of trading (November 10), *ST Langqi opened with a limit of 4.03 yuan / share, only in 6 minutes after the opening of the market twice, twice opened the up and down board, but the good times were not long, soon the stock price dived high, all the way down, as of the close, * ST Langqi sideways adjustment was reported at 3.84 yuan / share, compared with the high point of the stock price on June 15, 2015 21.39 yuan / share has plummeted by 82.05%.
Source: Oriental Fortune Network
Stock price fluctuations also quickly aroused the hot discussion of stock bars. Some shareholders expressed optimism about *ST Langqi, "there is meat in today's entry", "there is still some change, buy 15 shares, put the Langqi top to the flat open" and "take off tomorrow"; some shareholders expressed their disappointment, "Tomorrow will fall to stop, today comes in all the suffocation" "Ming after two days do not fall stop to find me", and even some shareholders bluntly said that "issuing an announcement not to seal the rise is a fraudulent behavior".
Source: *ST Langqi Shares
According to the data, as of October 29, the number of shareholders of *ST Langqi was 25,900, and the average market value of each household was 88,500.
<b>Established famous enterprises are deeply mired</b>
Previously, *ST Langqi had been on the hot search list three times for topics such as "losing 572 million yuan of inventory", "more than 67 million deposits were frozen", "losing 30 years of profits saved in a year", and became the "hot" talk of netizens after tea.
On the evening of September 27 last year, Guangzhou Langqi announced that the company could not carry out normal inventory and sampling testing of the inventory stored in Ruilicang of Jiangsu Hongsheng Logistics Co., Ltd. and Huifeng Warehouse of Jiangsu Huifeng Petrochemical Co., Ltd. with a total value of 572 million yuan. Subsequently, in the announcements on October 30 and December 25, *ST Langqi said that the amount of "account discrepancies" increased again, accumulating 898 million yuan.
The missing nearly 900 million yuan involved a foggy drama. On December 26 last year, Yao Zhiqi, the actual controller of the relevant warehousing company, was investigated for suspected crimes. On January 28, *ST Langqi announced that Chen Jianbin, former vice chairman and general manager of the company, and Wang Zhigang, former secretary of the board of directors, had been investigated for suspected violations of their duties. On January 31, *ST Langqi announced that the company's employees Deng Yu, Huang Jianbin and others were suspected of embezzling funds, and the public security organs believed that there were criminal facts that occurred and needed to be investigated for criminal responsibility and filed for investigation.
Not only that on the evening of October 9 last year, *ST Langqi announced that Ligen Financial Leasing Co., Ltd. submitted an application for property preservation to the Guangzhou Arbitration Commission of China, requesting the freezing of the company's bank deposits of 67.18 million yuan or the sealing and seizure of its equivalent value property, and the Guangzhou Tianhe District People's Court has filed a case to accept and make a ruling, and the ruling immediately began to be enforced.
Disasters have occurred one after another, according to the annual report, *ST Langqi's net profit in 2020 is -4.483 billion yuan. However, *ST Langqi's cumulative net profit in the 30 years from 1990 to 2019 was only 577 million yuan, that is to say, *ST Langqi lost nearly 8 times the total profit of the past 30 years in 2020. Subsequently, a quarterly report and semi-annual report released by *ST Langqi showed that the company was still in a state of loss. On the evening of October 27, *ST Langqi released three quarterly reports. According to the third quarterly report, the company achieved a net profit attributable to the shareholders of the listed company in the third quarter of about -48.68 million yuan, an increase of 95.39% year-on-year.
On October 16, *ST Langqi also announced that the Guangzhou Intermediate Court had accepted the bankruptcy liquidation application of Guangzhou Pinzhong Tax Consultants Co., Ltd. for Guangdong Qihua Chemical Trading Center Co., Ltd., a subsidiary of Guangzhou Langqi Holdings, and Guangzhou Qihua Co., Ltd., a holding company. As of June 30, 2021, the unaudited net assets of Guangdong Qihua Chemical Trading Center Co., Ltd. were -2.527 billion yuan, and the unaudited net assets of Guangzhou Qihua Co., Ltd. were -472 million yuan.
Source: Web screenshots
According to the data of Oriental Fortune Network, *ST Langqi was founded in 1959, formerly known as Guangzhou Hardening Oil Factory, is one of the oldest washing products manufacturers in South China, listed on the Shenzhen Stock Exchange in 1993, the main business is the daily chemical industry, sugar and food and beverage retail industry, beverage industry. According to the data, *ST Langqi has invited well-known artist Su Youpeng to endorse its products.
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