AutoBeta(AutoBeta.net)03/19 Report--

The shares of Zhongtai Motor, which has gone crazy, continued to rise by the limit after the suspension and verification. On March 19th, * ST Zhongtai rose by the daily limit, closing at 3.83 yuan per share, up 4.93%. From January 12 to March 19 this year, * ST Zhongtai gained a total of 29 limit boards in 39 trading days, and its share price rose 236% in two months, and its market capitalization rose from 2.3 billion yuan to 7.8 billion yuan.

* ST Zhongtai's continuous limit has attracted the attention of the industry. March 10, * ST Zhongtai issued a notice that in order to protect the interests of investors, the company will check the abnormal volatility of the stock. Upon application by the company, the trading of the company's shares has been suspended since the opening of the market on March 11, 2021, and reviewed since the disclosure of the verification announcement. On March 17, * ST Zhongtai issued a notice to verify matters related to abnormal fluctuations in stock trading. It has been verified that there are no undisclosed projects that lead to serious abnormal fluctuations in share price trading, and there are no other matters that may lead to serious abnormal fluctuations in stock trading. In view of the completion of the relevant verification work, the company's shares will resume trading on March 18, 2021.

On March 18, * ST Zhongtai rose again by the daily limit, closing at 3.65 yuan per share, or 4.89%; on March 19, * ST Zhongtai closed at 3.83 yuan per share, up 4.93%. In other words, after the company checked, * ST Zhongtai continued to rise by the limit.

It is worth mentioning that although * ST Zhongtai's share price continues to rise by the limit, the company's performance continues to be depressed. According to the 2020 financial forecast released by * ST Zhongtai, it is expected to lose 60-9 billion yuan in 2020, down 46.38% and 19.57% from the same period last year. * ST Zhongtai has issued a public statement many times that vehicle production is almost at a standstill due to the company's lack of liquidity in 2020, and its revenue mainly comes from the sales of auto parts. The company is currently in the state of pre-restructuring, whether the restructuring is successful or not is still uncertain.

In addition, Zhongtai Motor issued a number of personnel change announcements on March 8. Jin Zheyong, the chairman of the company, Jian Jian, the director, and Ma Deren, vice president of the company, all tendered their resignations to the company for personal reasons, but the departure of key figures also failed to stop the soaring share price of Zhongtai, which rose for two consecutive days on March 9 and March 10.

Industry insiders analysis, * ST Zhongtai share price singing all the way or related to the restructuring behind it. On January 11, Zhongtai Automobile issued a progress announcement on the public recruitment of investors, saying that a number of prospective investors had come to communicate with them to participate in the pre-restructuring / restructuring. On December 25 and 28, 2020, one prospective investor signed a "confidentiality agreement" with the pre-restructuring manager, while another intended investor signed a "confidentiality agreement" and an "intention agreement". The two intended investors have paid the corresponding confidential deposit and intended deposit, and began to carry out specific due diligence after paying the deposit. In view of the fact that the intended investor is still in the full adjustment stage and the application materials have not been formally submitted, the investor information will not be disclosed according to the request of the intended investor.

It was only from January 12 that * ST Zhongtai shares continued to soar, rising more than 200% in two months. For this reason, Zhongtai issued several stock trading risk reminders, saying that the company is currently in a state of pre-restructuring, and whether the restructuring is successful or not is still uncertain.

For Zhongtai's pre-restructuring, the industry has different views. Some analysts believe that it is irreversible for Zhongtai to go bankrupt, but the local government also hopes that Zhongtai will disappear because of bankruptcy liquidation, so it continues to push Zhongtai to bankruptcy reorganization. Some analysts believe that Zhongtai has little hope of success in restructuring, and the production qualification is of little value, so it depends on whether the local government will give the restructuring party any conditions.

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