AutoBeta(AutoBeta.net)09/16 Report--

*ST issued a huge announcement saying that the intended investor had been confirmed. Announcement shows that after reorganization acceptance, the administrator Based on the actual situation of Pangda Group, through various search and contact, it was determined that Shenzhen Shenshang Holding Group Co., Ltd.(hereinafter referred to as "Shenshang Holding"), Shenzhen Yuanwei Asset Management Co., Ltd.(hereinafter referred to as "Yuanwei Asset") and Shenzhen National Transportation Technology Group Co., Ltd.(hereinafter referred to as "National Transportation") would participate in the reorganization as the intended investor of Pangda Group.

At the same time, Pang Qinghua, the actual controller of the huge group, and his concerted actions and other shareholders agreed to transfer all the equity of the huge group held by them, and the control right will also be transferred to the consortium composed of Shenshang Holdings, Yuanwei Assets and National Transport Capacity.

Pang Qinghua owns 20.84% of the company's shares, along with four of the top 10 shareholders acting in concert, according to Pang Group's first half of 2019 earnings report.

A few days ago, Pang Da Group was warned of delisting risks and its stock abbreviation was changed to "*ST Pang". Before this, the huge group capital chain tension has also been repeatedly exposed.

Data show that in 2018, the huge group achieved revenue of 42.034 billion yuan, down 40.37% year-on-year; net profit was 6.155 billion yuan, down 3003.23% year-on-year. After entering 2019, its performance has not improved. In the first half of this year, the huge group realized revenue of 10.256 billion yuan, down 62.17% year-on-year; in terms of vehicle sales, the sales volume of new vehicles of the huge group in the first half of this year was 50,100 vehicles, down 71.22% year-on-year.

In fact, the huge group has fallen into a "dead circle" of lack of funds at this time. The huge group admitted in the financial report that due to insufficient working capital, the purchase of the whole vehicle could not meet the normal sales demand, resulting in a large decline in the sales of the whole vehicle, and the generated profits could not cover the expenses during the period, resulting in a substantial decline in net profit.

Under such circumstances, bankruptcy reorganization is a way out that has to be taken for large groups, and may be the only way out.

The three companies that have carried out asset restructuring of the huge group this time can be said to be very strong. Shenzhen Shenshang Holding Group Co., Ltd. has 79 shareholder enterprises, including 10 listed companies and 21 high-tech enterprises. At present, the total assets of all shareholders of the company exceed 1 trillion yuan.

Shenzhen Yuanwei Asset Management Co., Ltd. is a professional organization focusing on restructuring mergers and acquisitions, equity investment, asset management and asset trading. After 20 years of operation, it has successfully restructured or restructured many companies. In this reorganization, Yuanwei will provide all-round support for the huge group, so as to enhance the value of the huge group and the subsequent sustainable operation and profitability, and provide guarantee for the promotion of the reorganization work and the implementation of the business plan; Shenzhen National Transport Technology Group Co., Ltd. is the leading urban transportation operator and urban green transportation leading enterprise in China.

Under the strong alliance of the three companies, it will assist the huge group to implement restructuring, which will effectively reduce the asset-liability ratio of the huge group, solve the debt burden, improve the corporate governance structure, enhance the profitability of the company and return to the benign development track.

Therefore, it can be seen that this huge reorganization is a real reorganization, with government agencies involved and capital tycoons leading. In addition, the industrial foundation of the huge group itself is still in place and the hematopoietic function still exists, so the prospect is bright and the future can be expected.

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