Controlling shareholders' capital occupation and illegal guarantees totaled more than 2.8 billion, and lithium battery upstart Yanan Bikang or "wearing a hat"

Reporter | Chen Huidong

Edit |

Yan'an Bikang (002411. SZ) or will "wear a hat".

On the evening of January 13, Yan'an Bikang announced that as of now, the balance of the company's controlling shareholders and their related parties' non-operational occupation of the company's funds is 75 million yuan; the company's subsidiary Xuzhou Beimeng Logistics Co., Ltd. provided a guarantee amount of 2.796 billion yuan to the company's controlling shareholders and actual controllers before the acquisition, which is still in the guarantee period; and the subsidiary Xi'an Fudi Pharmaceutical Technology Development Co., Ltd. illegally provided a pledge guarantee of 0.8 billion yuan, which was lifted on August 16, 2021. If the above-mentioned capital occupation and non-compliance guarantee matters cannot be resolved by January 27, 2022, the Company's shares will be subject to additional risk warnings.

According to the above announcement, Yan'an Bikang received the Decision on Administrative Supervision Measures issued by the Shaanxi Supervision Bureau of the Csrc on December 31, 2021, and the company had the situation of controlling shareholders and their related parties occupying the company's funds in a non-operational manner and violating external guarantees. On January 4, the Company received a letter of concern from the Shenzhen Stock Exchange requesting the Company to make a written explanation of the relevant matters by January 13.

Yan'an Bikang said that in view of the large number of matters involved in the letter of concern and the large workload, the relevant issues still need to be further verified and improved, and the corresponding information is supplemented, coupled with the current impact of the new coronavirus pneumonia in Xi'an, which brings certain difficulties to the response work. In order to effectively and steadily respond to the letter of concern and ensure that the content of the reply is true, accurate and complete, after careful study by the company, it has applied to the management department of the listed company of the Shenzhen Stock Exchange to extend the reply to the letter of concern before January 27, 2022.

As for the measures that have been taken and are planned, Yanan Bikang said that the company will continue to urge the controlling shareholder and the actual controller to take practical and effective measures to actively raise funds to repay the occupied funds as soon as possible, and lift the above-mentioned illegal guarantee matters to eliminate the impact on the company. The controlling shareholder and the actual controller of the Company issued the "Commitment Letter on Resolving the Situation of Capital Occupation and Illegal Guarantee", promising to repay the occupied funds in cash before January 27, 2022; the actual controller promised to release the above-mentioned guarantee matters involved in Beimeng Logistics before January 27, 2022, and if the guarantee matter caused the company's losses, the actual controller of the company would make up for it with its own assets.

The letter of concern issued by the Shenzhen Stock Exchange to Yan'an Bikang on January 4 mainly focused on the specific circumstances of the above two guarantee matters, the listed company explained the specific measures and time limits to be taken to release the guarantee, and required the company to comprehensively check whether there were other matters that should be disclosed and undisclosed, including but not limited to capital occupation, illegal guarantee, major litigation and arbitration, account freezing, share freezing, debt overdue, related party transactions, etc.

In fact, the solvency of the controlling shareholders and actual controllers of Yan'an Bikang is no longer optimistic.

In June 2021, Due to the inability to pay off its debts as they fell due and its obvious lack of solvency, Xinyi Bikang, the controlling shareholder of Yan'an Bikang, was filed for bankruptcy reorganization. According to the Tianyancha APP, Xinyi Bikang was listed as a dishonest executor on February 5, 2021, and was listed by the court as a restricted high-consumption enterprise three times. According to yanan bikang's announcement on May 13, 2021, Li Zongsong, the actual controller of the company, was included in the list of dishonest executors due to debt problems.

According to a previous report by Interface News, Yan'an Bikang was established in December 2002, and the company was formerly named Jiangsu Bikang Pharmaceutical Co., Ltd. In December 2015, Yan'an Bikang landed on the Shenzhen Stock Exchange through the shell 99jiu. In 2018, the abbreviation of the company's securities was changed to Yan'an Bikang. Since its listing, Yan'an Bikang's performance has continued to decline. From 2017 to 2020, the company's net profit attributable to shareholders of listed companies has declined.

In 2020, Yan'an Bikang was deeply involved in financial fraud and was punished by the regulatory authorities, and the problems of capital occupation by the controlling shareholders of listed companies, bond redemption problems, and letter phi violations were entangled, and the main business of listed companies immediately "suffered", and the company's net loss during the year was 1.071 billion yuan. During the year, the company's stock price fell by 67%.

However, with the "epic" market of lithium hexafluorophosphate in 2021, Yan'an Bikang staged a "turnaround" of performance that year. According to the announcement disclosed by the company on October 29, 2021, the company expects the net profit for the full year to be 950 million yuan to 1 billion yuan, an increase of 188.72% to 193.39% year-on-year.

As of the close of trading on January 13, Yan'an Bikang reported 10.74 yuan / share, which has fallen by 40% from the high point of 17.99 yuan / share in September 2021.