On March 4, the share price of Jiangsu Xinning Modern Logistics Co.Ltd(300013) ( Jiangsu Xinning Modern Logistics Co.Ltd(300013) . SZ) fell 4.76% to 4 yuan / share.
The previous night (March 3), the company disclosed that the revised announcement of 2021 performance forecast showed that the latest estimated loss last year was about 140 million yuan to 195 million yuan, rather than the pre loss of 80 million yuan to 135 million yuan disclosed on January 26 Jiangsu Xinning Modern Logistics Co.Ltd(300013) the relevant person of the Securities Department told the interface news reporter that the company also revised the performance forecast immediately after receiving the judgment.
Jiangsu Xinning Modern Logistics Co.Ltd(300013) frankly, the company has overdue bank loans. As of December 31, 2021, the principal balance of short-term loans is 192 million yuan and the principal balance of long-term loans is 40 million yuan (including 10 million yuan due within one year). If the company fails to improve the company’s capital situation or formulate a feasible response plan, the overdue amount of bank loans will further increase, The company will face the risk of shortage of working capital and judicial freezing of assets, and the operation of each business segment may be adversely affected to varying degrees, resulting in uncertainty in the company’s ability to continue operations.
On March 3, Jiangsu Xinning Modern Logistics Co.Ltd(300013) disclosed that the company and its wholly-owned subsidiary Shenzhen Xinning Modern Logistics Co., Ltd. (hereinafter referred to as “Shenzhen Xinning”) received the civil judgment served by the higher people’s Court of Hubei Province. Accordingly, Shenzhen Xinning is required to pay 149 million yuan of compensation to the Beijing Branch of the people’s Insurance Company of China Limited (hereinafter referred to as “PICC Property Insurance“) within 10 days after the judgment takes effect, and Jiangsu Xinning Modern Logistics Co.Ltd(300013) shall bear the continuous liability of compensation to PICC Property Insurance for the above liability of Shenzhen Xinning.
In view of this, Jiangsu Xinning Modern Logistics Co.Ltd(300013) made up the estimated liabilities for the above matters by about 85 million yuan, which has an impact on its net profit of about – 85 million yuan in 2021. As of the disclosure date of this announcement, the estimated balance of liabilities accrued by the company for the impact of Shenzhen Xinning fire accident is 161 million yuan. The company pointed out that the above judgment is the judgment of first instance. As of the date of announcement, the judgment is still in the appeal period, this judgment has not yet taken effect, and the company and Shenzhen Xinning have prepared to appeal to the Supreme People’s court.
On December 22, 2015, Jiangsu Xinning Modern Logistics Co.Ltd(300013) a fire broke out in the warehouse on the 4th floor of No. 1 plant in Tonglixing plant, No. 8, Lanzhu East Road, Pingshan new area, Shenzhen, resulting in the damage of electronic parts stored in the warehouse with an area of about 22200m, involving products of several companies such as Ofilm Group Co.Ltd(002456) ( Ofilm Group Co.Ltd(002456) . SZ), Shenzhen Laibao High-Tech Co.Ltd(002106) ( Shenzhen Laibao High-Tech Co.Ltd(002106) . SZ), Boe Technology Group Co.Ltd(000725) ( Boe Technology Group Co.Ltd(000725) . SZ).
Jiangsu Xinning Modern Logistics Co.Ltd(300013) believes that according to the fire location confirmed by the conclusion of the fire department, the battery goods located in the southeast of a column from north to southwest and within 1.1m to the east of the warehouse storage area in the north of the warehouse involved at the time of the fire accident include: lithium battery products produced by Sunwoda Electronic Co.Ltd(300207) ( Sunwoda Electronic Co.Ltd(300207) . SZ) stored by Lenovo, And lithium battery products produced and stored by Zhuhai Guangyu battery; Accordingly, Jiangsu Xinning Modern Logistics Co.Ltd(300013) believes that Sunwoda Electronic Co.Ltd(300207) and Zhuhai Guangyu are the actual responsible parties of the fire accident in this case and should bear tort liability for the losses caused by the fire. In July 2018, Jiangsu Xinning Modern Logistics Co.Ltd(300013) filed a lawsuit against Zhuhai Guangyu and Sunwoda Electronic Co.Ltd(300207) . However, Sunwoda Electronic Co.Ltd(300207) etc. do not think so; According to the announcement in December 2020, Sunwoda Electronic Co.Ltd(300207) filed a lawsuit against Jiangsu Xinning Modern Logistics Co.Ltd(300013) .
2015 is a turning year for Jiangsu Xinning Modern Logistics Co.Ltd(300013) . In this year, the company wholly acquired Guangzhou Yicheng Traffic Information Co., Ltd. (hereinafter referred to as “Yicheng information”) with 720 million yuan (value-added rate of 342.77%); After the reorganization, Zeng Zhuo became the largest shareholder of Jiangsu Xinning Modern Logistics Co.Ltd(300013) holding 14.19% at the end of September 2015, and served as the director and vice chairman of the listed company from November 2015 to October 2019.
Also because of the consolidation of million journey information in the fourth quarter of 2015, Jiangsu Xinning Modern Logistics Co.Ltd(300013) achieved a year-on-year increase in operating revenue of 46% to 590 million yuan, but a loss of 110 million yuan. According to the 2015 annual report, the net profit attributable to the parent company of Yicheng information in 2015 after deducting non recurring profits and losses was 168567 million yuan, 34.41% of the promised performance was completed, and the 2015 annual performance commitment was not completed.
In 2016, Yicheng information also had an “insider” Jiangsu Xinning Modern Logistics Co.Ltd(300013) disclosed that Wei Wei, an employee of Beijing Xingguang Zhonghong Technology Co., Ltd., a holding subsidiary of Yicheng information, was suspected of misappropriating 67.993 million yuan. Yicheng information reported the case to Guangzhou Public Security Bureau on December 15, 2016. In October 2017, Jiangsu Securities Regulatory Bureau issued a warning letter. The investigation found that Jiangsu Xinning Modern Logistics Co.Ltd(300013) lacked effective internal control over Yicheng information in terms of contract management, financial accounting, sales and procurement management, resulting in significant differences between the performance forecast, performance express and annual report performance data issued by listed companies, and wrong judgment of profit and loss nature.
By 2018, Jiangsu Xinning Modern Logistics Co.Ltd(300013) performance began to “change face”. In 2018, Jiangsu Xinning Modern Logistics Co.Ltd(300013) profit decreased by 55.15% year-on-year to 645837 million yuan; In 2019 and 2020, the losses were 582 million yuan and 612 million yuan. Originally, during the “gambling period” from 2015 to 2017, Yicheng information realized profits of 168567 million yuan, 429157 million yuan and 730755 million yuan respectively, which is still a certain distance from the commitments of no less than 489853 million yuan, 713046 million yuan and 903722 million yuan.
In this case, Zeng Zhuo resigned as director and vice chairman in October 2019. It is reported that from 2005 to before Yicheng information was acquired by Jiangsu Xinning Modern Logistics Co.Ltd(300013) company, Zeng Zhuo, as the chairman and legal person, held 47.85% of the shares before the acquisition. However, up to now, Zeng Zhuo is still the largest shareholder of Jiangsu Xinning Modern Logistics Co.Ltd(300013) holding 8.13%P align = “center” Image Source: February 18, 2022 Jiangsu Xinning Modern Logistics Co.Ltd(300013) announcement on reply to letter of concern of Shenzhen Stock Exchange
Recently, Zeng Zhuo United Jiangsu Xinning Modern Logistics Co.Ltd(300013) the third largest shareholder Henan Zhongyuan Financial Holding Co., Ltd. (hereinafter referred to as “Zhongyuan financial holding”) to cause a “secret fight” on the board of directors of this listed company. It is reported that since February this year, Zhongyuan Financial Holding Co., Ltd. Zeng Zhuo has put forward two requirements: one is to convene shareholders and request Jiangsu Xinning Modern Logistics Co.Ltd(300013) to convene an extraordinary general meeting of shareholders; Second, convene shareholders to put forward two proposals for deliberation by Jiangsu Xinning Modern Logistics Co.Ltd(300013) board of directors and extraordinary general meeting of shareholders; The two proposals are as follows: 1. The proposal on by election of non independent directors of the 5th board of directors of the company, which requests the Jiangsu Xinning Modern Logistics Co.Ltd(300013) shareholders’ meeting to agree to by election Hu Shihan and Li Chaojie as non independent directors of the Jiangsu Xinning Modern Logistics Co.Ltd(300013) 5th board of directors; 2. The proposal on convening the company’s first extraordinary general meeting in 2022 is proposed to Jiangsu Xinning Modern Logistics Co.Ltd(300013) convene the first extraordinary general meeting in 2022 and vote on the first proposal according to law.
However, the above requirements were “rejected” by Jiangsu Xinning Modern Logistics Co.Ltd(300013) board of directors and board of supervisors for several times Jiangsu Xinning Modern Logistics Co.Ltd(300013) replied to the letter of concern from the exchange that if the relevant proposal is continued to be implemented, it will promote the illegal acquisition of the company actually controlled and acquired by Zeng Zhuo and Zhongyuan financial holding to become a fait accompli; According to his explanation, Zeng Zhuo and Zhongyuan financial holding jointly hold Jiangsu Xinning Modern Logistics Co.Ltd(300013) 1556% of the shares, which is far more than other shareholders. According to their actual voting rights of the company’s shares, they are enough to have a significant impact on the resolutions of the company’s general meeting of shareholders, and more than half of the members of the company’s board of directors can be elected through their actual voting rights of the company’s shares, Its combination has led to the conditions for it to control the company. However, Zeng Zhuo has been included in the dishonest executee, and after he admitted that he had a large amount of debt on January 9, 2022, which was not paid off when due and was in a continuous state, Zeng Zhuo is now an acquirer who is not allowed to acquire a listed company.
Zhongyuan financial holding and Zeng Zhuo have repeatedly denied the acquisition intention. According to the resolution of the general meeting of shareholders of Zhongyuan Zhuo Holding Co., Ltd., Zeng Zhuo issued a joint statement of the company’s voting rights on March 3, which will have a significant impact on the company.
At present, the game between the two sides continues.
