After the closing today (February 8), Dea General Aviation Holding Co.Ltd(002260) (002260, SZ) announced that on February 7, it received the notice on terminating the recommendation of Dea General Aviation Holding Co.Ltd(002260) resumption of listing sent by the sponsor of resumption of listing, Federal Reserve Securities Co., Ltd. (hereinafter referred to as Federal Reserve securities). Federal reserve securities believed that Dea General Aviation Holding Co.Ltd(002260) did not meet the conditions for resumption of listing.
Subsequently, the Shenzhen stock exchange quickly issued a concern letter to Dea General Aviation Holding Co.Ltd(002260) , requiring Dea General Aviation Holding Co.Ltd(002260) to disclose whether the company meets the conditions for applying for resumption of listing before February 10.
On February 8, Dea General Aviation Holding Co.Ltd(002260) issued a suggestive announcement on the delisting risk of the company’s shares, saying that according to the stock listing rules of Shenzhen Stock Exchange, “a listed company shall hire a share transfer service institution as the sponsor of its resumption of listing”, but because the Federal Reserve securities no longer provides recommendation services for the resumption of listing of Dea General Aviation Holding Co.Ltd(002260) , The company may not comply with the application for resumption of listing stipulated in the stock listing rules of Shenzhen Stock Exchange (revised in 2018), resulting in the failure of the exchange to pass the examination. Therefore, Dea General Aviation Holding Co.Ltd(002260) shares may have the risk of delisting.
the sponsor said that Dea General Aviation Holding Co.Ltd(002260) did not meet the conditions for resumption of listing
On June 14, 2020, the Federal Reserve securities and Dea General Aviation Holding Co.Ltd(002260) signed the agreement on recommending resumption of listing and entrusting continuous supervision of stock transfer, which agreed to entrust the Federal Reserve securities to provide recommendation services for Dea General Aviation Holding Co.Ltd(002260) resumption of listing. After the signing of the agreement, the Federal Reserve securities has assisted Dea General Aviation Holding Co.Ltd(002260) to submit the application document for resumption of listing to Shenzhen Stock Exchange in early July 2020.
Fed Securities said that in view of the lower net profit attributable to the parent before and after deducting non recurring profits and losses from January to September of Dea General Aviation Holding Co.Ltd(002260) 2020 and 2021, which is – 26.9945 million yuan and – 24.6929 million yuan respectively, it is expected that Dea General Aviation Holding Co.Ltd(002260) 2021 will continue to suffer losses throughout the year, and there is great uncertainty in the ability of sustainable operation, which has failed to meet the conditions for resumption of listing.
In November 2020, Guangzhou Rural Commercial Bank Co., Ltd. (hereinafter referred to as Guangzhou rural commercial bank) filed a lawsuit to require Dea General Aviation Holding Co.Ltd(002260) to undertake the obligation of making up the difference with respect to the loan principal, interest, penalty interest and other funds totaling about 2.5 billion yuan. Up to now, the case is still under trial, Dea General Aviation Holding Co.Ltd(002260) has no final conclusion on its obligations in the case, and there is a significant risk of uncertainty.
In addition, Cao Sheng, the investor introduced by Dea General Aviation Holding Co.Ltd(002260) restructuring, and xuntu education have shown signs of discord, which has a great adverse impact on the follow-up Dea General Aviation Holding Co.Ltd(002260) operation.
Therefore, in view of the above circumstances and based on the agreement, the Federal Reserve Securities said that there are sufficient reasons to believe that Dea General Aviation Holding Co.Ltd(002260) does not meet the conditions for resumption of listing. To sum up, the Federal Reserve securities notice Dea General Aviation Holding Co.Ltd(002260) will no longer provide recommendation services for its resumption of listing from the date it receives the notice, and terminate the relevant provisions of the agreement signed with it. Please Dea General Aviation Holding Co.Ltd(002260) announce relevant matters as soon as possible, change the recommendation institution or apply to Shenzhen Stock exchange for withdrawal of relevant application materials for resumption of listing.
the guarantee event is complicated
On June 27, 2017, Guangzhou rural commercial bank and Guotong Trust Co., Ltd. (hereinafter referred to as Guotong trust) signed the single fund trust contract for Guotong trust Huaxiang Beijing loan, with a trust scale of 2.5 billion yuan and an estimated period of 48 months, calculated from the date of establishment of Guotong trust.
On the same day, Huaxiang (Beijing) Investment Co., Ltd. (hereinafter referred to as Huaxiang company) signed the trust loan contract with guoxintong, which granted loans of 1.5 billion yuan and 1 billion yuan to Huaxiang investment on June 28, 2017 and August 3, 2017 respectively.
On May 6, 2020, guoxintuo issued the liquidation report to Guangzhou rural commercial bank to relieve the fiduciary responsibility. Guangzhou rural commercial bank said that the borrower’s failure to pay any due creditor’s rights in accordance with the contract constitutes a serious breach of contract, and the other debtors have not fulfilled their corresponding contractual obligations.
According to Dea General Aviation Holding Co.Ltd(002260) announcement, on November 6, 2020, the company received a notification letter dated November 3, 2020 from Guangzhou rural commercial bank, informing the company that the company and Guangzhou Rural Commercial Bank signed the balance replenishment agreement in June 2017 and needed to undertake the balance replenishment obligation.
Exchange related matters also incur inquiries. Dea General Aviation Holding Co.Ltd(002260) said in the reply that no matter some directors and senior executives appointed by the management in time, they made it clear that there was no so-called “difference replenishment agreement” in the notification letter, and there were no filing materials such as internal verification, seal use registration records, minutes of meetings of the board of directors and shareholders’ meetings of listed companies and voting matters There is no relevant data and information about the agreement in terms of bank flow and book value, and Zhu Jiagang and Wang Xinwen, the former chairman and legal representative of the listed company, do not remember the matter.
In addition, Dea General Aviation Holding Co.Ltd(002260) also said that on the basis of internal verification, it began to contact the contact number recorded in the notification letter on November 11, 2020, and conducted on-site communication with Guangzhou rural commercial bank on December 2, 2020, but the other party’s contact person and lawyer were unable to provide the so-called balance replenishment agreement and other materials.
Therefore, Dea General Aviation Holding Co.Ltd(002260) believes that there is no real, effective and effective balance replenishment agreement, and the listed company does not need to bear the guarantee liability. In addition, Fang Corning, the actual controller of the listed company, and his spouse have made a written letter of commitment to assume unlimited joint and several guarantee liability for the litigation / arbitration losses of the listed company that may be caused by the balance replenishment agreement.
On the evening of January 30, Dea General Aviation Holding Co.Ltd(002260) received the civil judgment of Guangzhou intermediate people’s Court (hereinafter referred to as Guangzhou intermediate people’s court). Under the condition that the balance replenishment agreement was invalid, Guangzhou intermediate people’s court decided that Dea General Aviation Holding Co.Ltd(002260) and the other two companies should be liable for compensation for half of the debts of Huaxiang company within the range of 1.586 billion yuan respectively.
Dea General Aviation Holding Co.Ltd(002260) said that the above litigation judgment is the first instance judgment, not the final judgment, and will appeal in the near future. Before the conclusion of the lawsuit, there is uncertainty about the impact on the company’s profits in the current period or after the period. At the same time, the company is studying and judging the impact of the case on the company’s financial statements in 2021, and the company will timely perform the obligation of information disclosure according to the progress of litigation matters. At present, the company’s production and operation are normal, and the above litigation matters have not had a significant impact on the company’s production and operation.
