On October 28, Jinhua Co., Ltd. (600080) released the third quarter report of 2021, the company achieved operating income of 391 million yuan from January to September 2021, down 14.15% year-on-year, and the net profit attributable to shareholders of listed companies was 23.0175 million yuan, down 33.86% year-on-year, and earnings per share was 0.0617 yuan.
In the announcement, Jinhua co., Ltd. stated that on March 23, 2021, September 16, 2021, September 25, 2021 and September 28, 2021, jinhua co., Ltd. disclosed the "Announcement of Jinhua Enterprise (Group) Co., Ltd. on Litigation Involving Small and Medium-sized Investors" and the progress announcement (for details, see the announcements "Pro 2021-022", "Pro 2021-055", "Pro 2021-057"). As of the date of this disclosure, the case has been decided in the first instance, and the company is not satisfied with the first instance and decides to appeal to the Shaanxi Provincial High People's Court. The company will continue to pay attention to the progress of the case and fulfill its information disclosure obligations in a timely manner.
Historical information shows that the reason for the plaintiff investor's lawsuit is that Jinhua Investment is the controlling shareholder and related party of Jinhua Shares, and Xi'an Sangshuo Network Technology Co., Ltd. and Xi'an Honghui Property Management Co., Ltd. are other related parties of Jinhua Shares. From January 1, 2019 to December 31, 2019, Jinhua Investment, through the signing of the Loan Agreement and the Financial Advisory Contract between non-related parties and the listed company, and other related parties Xi'an Sangshuo and Xi'an Honghui, borrowed a total of 277.77 million yuan from the listed company (all of which were returned in batches before June 29, 2020), accounting for 15.68% of the audited net assets of Jinhua Shares at the end of 2018. The investor's claims are: to order the defendant to compensate the plaintiff for investment losses totaling RMB3,476,286.09 and to order the defendant to bear the litigation costs of the case. The first-instance judgment is: After trial, the Xi'an Intermediate People's Court ruled that the company should bear the liability for compensation and pay the amount of compensation of 3,434,576.25 yuan (including litigation costs and other related costs). The company was not satisfied with the first instance trial and decided to appeal to the Shaanxi Provincial High People's Court.
It is reported that during the trial, a third-party institution entrusted by the court issued an expert opinion "Investor Loss Approval Opinion", which uses a specific financial model to account for the losses of each Jinhua share investor one by one. The base price of the fixed loss is 4.78 yuan, as long as it is above the stock price to buy Jinhua shares and meet the conditions for the claim [between January 3, 2019 and April 29, 2020, and the investor who bought ST Jinhua between January 3, 2019 and April 29, 2020, and sold or held ST Jinhua after April 30, 2020] The investor Mini Program "Yu Qiang Lawyer" can also sue for rights protection on his own. According to the current analysis, investors of Jinhua 600080 should sue before August 4, 2023.
According to Tianyancha, Jinhua Enterprise (Group) Co., Ltd. is a listed company under Jinhua Investment Holding Group that is led by the research and development and production of chemicals, proprietary Chinese medicines and health care products, involving pharmaceutical logistics and other fields, and was listed on the Shanghai Stock Exchange on June 12, 1997, stock code: 600080, referred to as: Jinhua shares.
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