The announcement of Kaile Science And Technology Co.Ltd.Hubei(600260) (600260. SH), which revealed the abnormal fluctuation of stock trading on February 24 due to the performance storm of private network communication events, pointed out that the deviation of the closing price of the company’s shares reached 15% in three consecutive trading days on February 21, February 22 and February 23, 2022. According to the relevant provisions of the measures for the administration of stock trading on the risk warning board of Shanghai Stock Exchange, It belongs to abnormal fluctuation of stock trading.
According to the announcement on February 18, on February 17, 2022, Kaile Science And Technology Co.Ltd.Hubei(600260) received a notice from Jingzhou intermediate people’s Court (hereinafter referred to as “Jingzhou intermediate people’s court”) that the creditor Shashi branch of Hubei Xin light plasticization Co., Ltd. (hereinafter referred to as “Hubei Xin light plasticization” or “applicant”) was unable to pay off due debts and obviously lacked solvency, Propose to Jingzhou intermediate people’s court for bankruptcy reorganization of the company.
After the announcement of the above news, the share price of Kaile Science And Technology Co.Ltd.Hubei(600260) increased by one word in two trading days on February 21 and February 22, and was also close to the limit on February 23. However, on February 24, the company’s share price was close to the limit. After the opening on February 25, the company’s share price was sealed on the daily limit in the morning, and the trend can be described as ups and downs.
Kaile Science And Technology Co.Ltd.Hubei(600260) prompted in the announcement that the company expects the net profit attributable to shareholders of Listed Companies in 2021 to be – 6.9 billion yuan to – 8.5 billion yuan; As of the date of this announcement, the company has not received the ruling of the court on the applicant’s application for company reorganization. There is still uncertainty whether the applicant’s application is accepted by the court and whether it enters the reorganization procedure. In addition, if the court formally accepts the reorganization application of the company, there will be a risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, the company will be subject to bankruptcy liquidation. According to article 9.4.13 of the listing rules, the company’s shares will face the risk of delisting.
According to the provisions of the enterprise bankruptcy law: after the people’s court accepts the bankruptcy application, the preservation measures related to the debtor’s property shall be lifted and the execution procedure shall be suspended. In addition, during the reorganization, the security right in the specific property of the debtor is suspended. However, if the collateral is likely to be damaged or its value is significantly reduced, which is enough to endanger the rights of the secured party, the secured party may request the people’s court to resume the exercise of the security right. During the period of reorganization, if the debtor or the manager borrows money for the purpose of continuing business, a guarantee may be created for the loan.
From the above regulations, the application for bankruptcy reorganization at this stage is undoubtedly a protection for Kaile Science And Technology Co.Ltd.Hubei(600260) and can prevent creditors from rushing up to divide up their property.
The interface news reporter noted that a large number of assets of Kaile Science And Technology Co.Ltd.Hubei(600260) are being sealed up and applied for sale. As shown in the announcement on January 14, the creditor asked the court to decide that the pledged equity of 2463998495 yuan / 10000 shares of Hubei huangshantou wine industry Co., Ltd. held by the defendant Kaile Science And Technology Co.Ltd.Hubei(600260) has the priority to be repaid according to the price converted or auctioned or sold off according to law.
In addition, once investors are introduced through the restructuring plan, it will undoubtedly help Kaile Science And Technology Co.Ltd.Hubei(600260) get rid of financial difficulties and restore business capacity.
From the above point of view, the application for bankruptcy reorganization is undoubtedly of positive significance to Kaile Science And Technology Co.Ltd.Hubei(600260) , or it also explains the reasons for the continuous rise of the company’s shares. However, bankruptcy reorganization may mean the need to introduce external reorganization investors. Can the current situation of Kaile Science And Technology Co.Ltd.Hubei(600260) still attract external investors involved in reorganization?
