AutoBeta(AutoBeta.net)05/18 Report--

On May 17, Zhongtai Motor announced that the company had received a "civil order" issued by the Yongkang Court that the applicant's iron cow body was unable to pay off its due debts and obviously lacked solvency, but applied to the Yongkang Court for restructuring on the grounds that it was possible to restructure.

Yongkang Court held that the debtor's iron ox body can no longer pay off the maturing debts, although the amount of book assets is higher than the amount of liabilities, but the cash flow is seriously insufficient, and the ability to realize assets is weak, so it should be found that there is an obvious lack of solvency. However, Tieniu body, as a supporting enterprise of the whole vehicle manufacturing company, has relatively high-quality vehicle parts production resources, restructuring value and possibility. It decided to accept the reorganization application of the applicant Zhejiang Tieniu Automobile body Co., Ltd., and appointed Zhejiang Jingheng Law firm as the manager of Zhejiang Tieniu Automobile body Co., Ltd.

Zhongtai Motors said that if the company acts as a restructuring investor and promotes the successful restructuring of the iron ox body, the relevant operating assets can be retained and maximize the value of the assets, which will play a certain role in the sustainable operation and development of the company. If a party other than the company acts as a restructuring investor, and the iron ox body is reorganized successfully, or if the iron cow body restructuring is not successfully converted into bankruptcy liquidation proceedings, the company will lose control over the iron cow body, the iron cow body will no longer be included in the scope of the company's consolidated statements.

The subsidiary was filed for bankruptcy restructuring, which seems to be a boon to Zhongtai Motors. Today, Zhongtai Motor opened trading by the daily limit, closing at 5.23 yuan per share.

After entering 2021, Zhongtai Motor has become a demon stock. Since January 4 (the first trading day of 2021), Zhongtai Motor has gained 44 limit boards since April 12, rising from 1.36 yuan per share to 5.81 yuan per share, an increase of 308.89%. In other words, the share price of Zhongtai Motor has tripled in just three months. For this reason, Zhongtai Automobile has also issued a notice of abnormal fluctuations in stock trading many times and suspended trading twice.

On May 12, Zhongtai announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as "Shanghai Zhiyang") transferred by the company's pre-restructuring manager on May 12, 2021. Its Shanghai Zhiyang decided to suspend its investment in the company because of recent changes in the share price of Zhongtai Motors, which seriously deviated from its fundamentals, and decided to suspend investment for the sake of investment prudence. On May 13, Zhongtai Motor opened by the limit, and then opened twice on May 14 and May 17.

On May 15, private equity giant V Ye Fei announced that he had the "black curtain" of 18 listed companies and publicly named nine companies, including Zhongtai Motor. However, the company's secretary responded that the company did not have the market capitalization management problem revealed by Ye Fei.

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