Jiangxi Zhengbang Technology Co.Ltd(002157) is rumored to be bankrupt recently. Meanwhile, the company disclosed that it would sell a series of equity assets to Beijing Dabeinong Technology Group Co.Ltd(002385) Jiangxi Zhengbang Technology Co.Ltd(002157) . The supervisor pays attention to the buyer and the seller, and requires to explain the rationality of the transaction and the company’s funds.
On March 1, Jiangxi Zhengbang Technology Co.Ltd(002157) ( Jiangxi Zhengbang Technology Co.Ltd(002157) ) announced that it planned to sell a series of equity assets of the company directly or indirectly controlled to Beijing Dabeinong Technology Group Co.Ltd(002385) ( Beijing Dabeinong Technology Group Co.Ltd(002385) ), involving a total asset transaction of about 2 billion yuan to 2.5 billion yuan. If this transaction is completed, it is expected to obtain an investment income of 1.1 billion yuan to 1.9 billion yuan.
The underlying assets specifically include all equities of Deyang Zhengbang agricultural and animal husbandry technology Co., Ltd., Danling Zhengbang Feed Co., Ltd., Chongqing Guanglian agricultural and animal husbandry technology Co., Ltd., Yunnan Guanglian livestock and poultry Co., Ltd., Kunming Xinhao Agricultural Technology Co., Ltd., Yunnan Dajing Technology Co., Ltd., Guiyang Zhengbang animal husbandry Co., Ltd Yunnan Guangde Feed Co., Ltd. and other five companies have 51% equity.
According to the announcement, the above-mentioned target assets achieved a total operating revenue of 6.343 billion yuan in the first three quarters of 2021, accounting for 15.87% of the revenue of Jiangxi Zhengbang Technology Co.Ltd(002157) the same period; The total net profit was 205 million yuan, and the loss of Jiangxi Zhengbang Technology Co.Ltd(002157) over the same period was 7.627 billion yuan.
In this regard, the Shenzhen stock exchange requires Jiangxi Zhengbang Technology Co.Ltd(002157) to explain the background, necessity and rationality of the sale of the above-mentioned subject assets, the possible impact on the company’s subsequent operation and performance, the pricing basis of the transaction and its rationality and fairness, as well as the calculation basis and rationality of the net assets and performance commitments in the next three years for the above-mentioned subject assets.
The buyer is also concerned. The attention letter of Shenzhen Stock Exchange pointed out that since 2022, Beijing Dabeinong Technology Group Co.Ltd(002385) plans to acquire assets more frequently, requiring the company to explain the background, necessity and rationality of the acquisition of the target assets and Jiuding technology equity, as well as the possible impact on the subsequent operation and performance of the company.
Beijing Dabeinong Technology Group Co.Ltd(002385) ‘s financial situation is not optimistic. According to the announcement, as of the end of the third quarter of 2021, Beijing Dabeinong Technology Group Co.Ltd(002385) monetary assets balance was 4.479 billion yuan, interest bearing liabilities balance was 7.945 billion yuan, and the company is expected to lose 230 million yuan to 450 million yuan in 2021. Shenzhen stock exchange requires to explain the capital arrangement for the company to pay the above transaction price and its possible impact on the company, and whether it may cause the deterioration of the company’s cash position.
It is worth noting that recently, some media released relevant reports such as “online transmission Jiangxi Zhengbang Technology Co.Ltd(002157) handling breeding loans in the name of employees” and “Zhengbang group applying for bankruptcy”, which questioned the capital stability of the company and its controlling shareholders. Although the company refuted this news, it still attracted regulatory attention. The company needs to explain whether there is a large short-term debt repayment risk, whether the financial situation is stable, and whether there is significant uncertainty about the sustainable operation ability of your company.
After a round of rapid expansion, Jiangxi Zhengbang Technology Co.Ltd(002157) suffered a cold winter in the pig industry last year and caused huge losses. According to the performance forecast of 2021, the company expects a net loss of 18.2 billion yuan to 19.7 billion yuan last year, a year-on-year decrease of 416.84% to 442.96%.
Jiangxi Zhengbang Technology Co.Ltd(002157) explained that the company sold 149267 million pigs in 2021, a year-on-year increase of 56.14%. Due to the decline in the market price of live pigs in China, the average sales price of a single head of the company was 16.60 yuan / kg, a year-on-year decrease of 16.10 yuan / kg, and the income of a single head decreased by 1653 yuan. The increase of sales volume combined with the decrease of sales price affected the profit of 8.873 billion yuan. In addition, the company has a single industry and its profit contribution is mainly pig breeding business, which is more affected by the pig cycle than diversified companies.
Jiangxi Zhengbang Technology Co.Ltd(002157) recently, the share price has fallen one after another, and the decline has reached 30% since the beginning of the year. As of the latest closing, the company closed at 6.75 yuan per share, down 0.74%.
