On the evening of February 11, Dea General Aviation Holding Co.Ltd(002260) angrily attacked the sponsor securities companies in the reply to the attention letter of the exchange, and staged the drama of “I don’t want you to think, I want me to think”.
The company pointed out that the situation that the Federal Reserve Securities believes that the company does not have the conditions to resume listing does not have an objective basis, and the company believes that it still has the conditions to resume listing. Prior to this, the Federal Reserve securities believed that the resumption of listing of Dea General Aviation Holding Co.Ltd(002260) was “unable to return to the sky”, and lifted the relevant recommendation agreement.
reply to the inquiry letter of the exchange
Public information shows that the company was established in 1993 and its main business is UAV R & D and production services. The audited net assets of 2017 and 2018 were negative for two consecutive years, and the listing of Dea General Aviation Holding Co.Ltd(002260) was suspended in 2019.
Dea General Aviation Holding Co.Ltd(002260) in reply to the letter of concern of Shenzhen Stock Exchange, it was pointed out that the capital of the company’s bankruptcy reorganization investors to subscribe for converted shares can still ensure that the company’s operating capital is relatively abundant. The company’s main business complies with national policies and regulations, and its business model adapts to market demand. Since the reorganization, the company has gradually optimized and adjusted its product structure and improved its business structure; At the same time, after the new management is selected, the management level will be improved, the operation efficiency will be enhanced, and the profitability of the company will be improved. There is no objective basis for the Fed securities to say that the company’s “going concern ability is uncertain and does not meet the conditions for resumption of listing”. At present, the accounting firm hired by the company is normally promoting the annual audit in 2021, and the final data shall be subject to the audit data publicly disclosed. The company believes that it has the conditions to resume listing.
Prior to this, Dea General Aviation Holding Co.Ltd(002260) announced that on February 7, 2022, it received the notice on terminating the recommendation of Dea General Aviation Holding Co.Ltd(002260) resumption of listing sent by the Federal Reserve securities, the company’s sponsor of resumption of listing, which informed that it would no longer provide recommendation services for Dea General Aviation Holding Co.Ltd(002260) resumption of listing, The company is required to announce relevant matters as soon as possible and change the recommendation institution or apply to Shenzhen stock exchange for withdrawal of relevant application materials for resumption of listing.
According to the announcement, on June 14, 2020, Dea General Aviation Holding Co.Ltd(002260) and the Federal Reserve securities signed the agreement on recommending resumption of listing and entrusting continuous supervision of stock transfer. The Federal Reserve securities assisted Dea General Aviation Holding Co.Ltd(002260) in submitting the application documents for resumption of listing to the Shenzhen Stock Exchange in early July 2020.
Article 5 of Chapter III of “part I recommendation for resumption of listing” of the agreement stipulates that “in the process of recommending Party A ( Dea General Aviation Holding Co.Ltd(002260) ) to resume listing, if Party B (Federal Reserve securities) has sufficient reasons to believe that Party A does not meet the conditions for resumption of listing, Party B may no longer recommend Party A to resume listing.”
According to the Fed securities, the lower of the net profit attributable to the parent before and after deducting non recurring profits and losses from January to September in 2020 and 2021 is -26.9945 million yuan and -24.6929 million yuan respectively. The company expects the net profit attributable to the parent in 2021 to be – 90 million yuan to – 60 million yuan. Dea General Aviation Holding Co.Ltd(002260) there is great uncertainty in the ability of sustainable operation, and it does not meet the conditions for resumption of listing. In November 2020, Guangzhou rural commercial bank filed a lawsuit to require the company 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, and the company’s obligations in the case are inconclusive, so there is a significant risk of uncertainty. Cao Sheng, the investor introduced in the company’s reorganization, showed signs of discord with xuntu education, which had a great adverse impact on the subsequent operation of the company.
there is a risk of delisting
Dea General Aviation Holding Co.Ltd(002260) also announced on February 11 that 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 examination of the exchange, and there may be a risk of termination of listing of the company’s shares.
On the evening of January 30, the company received the civil judgment issued by Guangzhou intermediate people’s court. The judgment showed that the company had illegal guarantee, and the debt principal that the company may bear involved in the illegal guarantee was about 201.68% of the company’s latest audited net assets.
In terms of performance, the company expects to achieve a net profit attributable to shareholders of listed companies of about – 90 million yuan to – 60 million yuan in 2021, compared with 21.0171 million yuan in the same period last year.
The main reason for the performance change is that in the same period of 2020, the company’s wholly-owned subsidiary de’ao helicopter Co., Ltd. recognized the asset disposal income of about 38 million yuan from the disposal of land property rights, and there is no relevant business in this period; The amount of current revenue and current net profit decreased compared with the original plan and forecast; Due to the energy consumption control policy and staggered peak power consumption in summer, the company has a temporary power restriction, which affects the operating efficiency of the enterprise.
