AutoBeta(AutoBeta.net)06/27 Report--

Recently, * ST Zhongtai announced that it received a reply from Hunan Zhibo Equity Investment Fund Management Co., Ltd. on June 24, according to the relevant agreement of the confidentiality Agreement signed between Zhibo Investment and * ST Zhongtai in December 2020. to Bo Investment decided to stop investing in * ST Zhongtai.

According to the announcement, Zhibo Investment visited the company's pre-restructuring manager for the first time in Yongkang in September 2020 after a number of background knowledge and research, and then signed a confidentiality agreement with the company's pre-restructuring manager on December 28, 2020 after a number of teleconference communications. and pay the confidentiality deposit in accordance with the agreement, and then carry out all adjustments. So far, Zhibo Investment has not signed any intentional agreement with the manager of the company.

* ST Zhongtai warned that the company's shares may be at risk of terminating the listing. If the restructuring fails, the company will risk being declared bankrupt. If the company is declared bankrupt, the company's shares will face the risk of being terminated.

It is worth mentioning that on May 12 this year, * ST Zhongtai issued an announcement that the company's pre-restructuring manager, Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as "Shanghai Zhiyang"), decided to suspend its investment in Zhongtai Automobile: based on the evaluation of the results of the due diligence of Zhongtai Automobile, and the recent changes in the share price of Zhongtai Automobile, which seriously deviated from its fundamentals, due to the consideration of investment prudence. Shanghai Zhiyang decided to suspend its investment in Zhongtai Motor.

At this point, one of the two intended investors of Zhongtai Automobile has terminated its investment, and the other has suspended its investment, which means that the road to restructuring of Zhongtai Automobile is still a long way off, and there is a risk that the restructuring failure will declare bankruptcy.

On January 11 this year, * ST Zhongtai announced that the company had signed a "confidentiality agreement" with two prospective investors on December 25 and 28, 2020, respectively, and signed a "letter of intent agreement" with one of them. 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.

Since then, * ST Zhongtai shares have soared all the way. From January 12 to the close of June 25, * ST Zhongtai harvested the trading limit 59 times and the falling limit 18 times, rising from 1.20 yuan per share to 7.52 yuan per share, with a cumulative stock price increase of 486.38%. Therefore, it was complained by the outside world that it was "either on the trading limit or on the falling limit". During this period, * ST Zhongtai repeatedly disclosed the abnormal risk of trading, but also failed to stop the speculation enthusiasm of market funds.

Prior to this, * ST Zhongtai fell by the limit for three consecutive days after Shanghai Zhiyang announced a moratorium on investment, and then started a sharp rise. On June 25, * ST Zhongtai rose 4.8% in morning trading and continued to fall after approaching the limit. It was closed down directly after the release of the announcement that investors intended to terminate their investment in the company. At present, it is not clear how the follow-up share price of * ST Zhongtai should go, but because Zhongtai Motors previously disclosed that it had signed an agreement with two prospective investors, but now one of the two investors has suspended investment and the other terminates its investment, Zhongtai Motors has returned to its original point again, and the road to restructuring is slim.

According to the data, Zhongtai Motor has a net loss of 10.801 billion yuan in 2020 and a net loss of 255 million yuan in the first quarter of 2021, with net assets of-4.672 billion yuan. At the same time, the company's main business automobile business is in the state of stop production, semi-stop production. Previously, the cumulative sales of Zhongtai Automobile reached 333100 in 2016, which is the peak of Zhongtai Automobile sales, which forms a huge contrast with today. Some analysts believe that Zhongtai has little hope of success in restructuring and has little production qualification value, so it depends on whether the local government will give the restructuring party any conditions.

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