AutoBeta(AutoBeta.net)06/30 Report--

According to Tianyan survey data, Zhongtai Motor added bankruptcy cases and bankruptcy review cases on June 29, and the applicants were Zhejiang Yongkang Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Yongkang Nong Commercial Bank"). The handling court is the Intermediate people's Court of Jinhua City, Zhejiang Province.

This is not the first time Yongkangnong has applied for Zhongtai Automobile bankruptcy reorganization. On September 16, 2020, Yongkang Agricultural Bank submitted an application for pre-restructuring to the people's Court of Yongkang City on the grounds that Zhongtai Motor was unable to pay off its due debts and obviously lacked solvency, but still had the value of restructuring.

On October 13, 2020, Yongkang Agricultural Commercial Bank submitted an application for the reorganization of Zhongtai Motor to the Intermediate people's Court of Jinhua City, Zhejiang Province. After the pre-restructuring, Zhongtai disclosed on January 11 this year 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.

On June 25, Zhongtai Automobile announced that the company had received a reply from Hunan Zhibo Equity Investment Fund Management Co., Ltd., in accordance with the relevant agreement of the confidentiality Agreement signed between Zhibo Investment and * ST Zhongtai in December 2020, Zhibo Investment decided to stop investing in * ST Zhongtai. Earlier, on May 12 this year, Zhongtai Automobile issued an announcement that the company's pre-restructuring manager, Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as "Shanghai Zhiyang") decided to suspend the promotion of investment in Zhongtai Automobile. At this point, the suspension of the two intended investors of Zhongtai Automobile means that the bankruptcy restructuring plan of Zhongtai Automobile has come to a standstill again.

June 28th, * ST Zhongtai opened trading has been falling limit. On June 29th, * ST Zhongtai opened by the limit, but once pulled up in early trading, staged the sky board, the same day reported a rise of 5.04% limit. It can be seen that although the whole vehicle business of Zhongtai Automobile is in a state of suspension or semi-suspension of production, and the intended investor terminates a temporary reprieve, the impact on the secondary market does not seem to be great. On June 30, * ST Zhongtai opened 2% higher, with an intraday increase of more than 4%.

It is worth mentioning that on June 29, Zhongtai Motors issued an announcement that its wholly-owned subsidiary Yongkang Zhongtai Automobile Co., Ltd. (hereinafter referred to as "Yongkang Zhongtai") was filed for bankruptcy liquidation by its creditors Shenzhen Bic Power Battery Co., Ltd. on the grounds that it was unable to pay off its due debts, the assets were insufficient to pay off all the debts or were obviously lacking in solvency. On the same day, Zhongtai Motor announced that the company's creditors should declare their claims to the administrator before July 30, 2021; the first creditors' meeting of Zhongtai Automobile bankruptcy reorganization case is scheduled to be held at 09:00 on August 5, 2021.

Since the end of 2019, Zhongtai Motor has been exposed to operational difficulties, and intensified in 2020. Zhongtai Automobile parent company was liquidated, Zhongtai Motor was filed for bankruptcy reorganization by creditors, and many of its subsidiaries were filed for bankruptcy restructuring / liquidation. all the executives of the company left. At present, Zhongtai Automobile has been very difficult to gain a foothold in the market, as to how it will be reaffirmed, the market is also worthy of attention.

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