Today (March 7), more than 3800 A shares fell, and Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) ( Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) ) rose against the market limit and performed strongly. So far, the stock has gained 14 trading limits in nearly 19 trading days. Just today, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) announced that in view of the recent large fluctuation of the company’s share price, which deviates from the fundamentals, the trading of the company’s shares will be suspended from March 8 to check the fluctuation of stock trading.
The copper market broke up rapidly in October last year. From mid to late December 2021, the company’s share price fell sharply again, once becoming the company with the largest decline at the beginning of this year. However, since February 9, 2022, the stock has stopped falling and rebounded by nearly 70% like a “roller coaster”, with the latest closing of 2.22 yuan / share and a market value of about 3 billion yuan. From the recent dragon and tiger list data, the trading seats of the stock are almost covered by the “China stock market news Tibet corps”.
In terms of the latest trend, the announcement shows that on February 25, 2022, Qingdao Zhongtian Energy Group Co., Ltd., a wholly-owned subsidiary of Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) received the civil ruling of Qingdao intermediate people’s Court of Shandong Province and accepted the bankruptcy reorganization of the subsidiary. The relevant reorganization matters will not have an impact on the financial data of the company in 2021.
In addition, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) previously received the notice from Baoji intermediate people’s Court of Shaanxi Province and Beijing No. 1 Intermediate People’s court. The creditors proposed bankruptcy reorganization of the company on the grounds that the company could not pay off its due debts and obviously lacked solvency, but still had reorganization value. However, at present, the application for Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) reorganization has not been accepted by the court. The company said that the matter will also have no impact on the financial data of 2021.
From a fundamental point of view, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) delisting risk is still high. Last year, the company issued the revised annual report and audit report, which made it clear that the net assets at the end of 2020 were -482 million yuan, and the company’s shares touched the delisting risk warning situation, which “beated the star”. After preliminary calculation, the company expects the net assets in 2021 to be – 5.9 billion yuan to – 7.8 billion yuan, which is in the situation of insolvency. According to the relevant regulations of the exchange, if the net assets in 2021 are still negative, the listing of the company’s shares may be terminated after the disclosure of the 2021 annual report. In addition, the company expects a net profit of – 5.4 billion yuan to – 7.2 billion yuan in 2021.
It is worth mentioning that up to now, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) has not officially hired the 2021 annual audit accountant. The company previously said in the announcement of share price changes disclosed on March 4 that the company’s shares could not disclose periodic reports on schedule and would be terminated from listing.
Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) has not made smooth progress in hiring audit institutions. Previously, on January 7, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) announced that zhongxinghua certified public accountants was proposed to be employed as the financial audit institution and internal control audit institution in 2021. The former accounting firm of the company is Lixin Zhonglian accounting firm. In 2020, the audit opinion issued by Lixin Zhonglian for the company was “unable to express an opinion”. However, Kong Xinming, the director, voted against the “exchange” on the grounds that Lixin Zoomlion has been an audit unit for many years and a diligent unit. He also has a better understanding of the company’s situation. Why should we change the audit unit.
However, on January 21, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) announced that due to the internal careful discussion of zhongxinghua certified public accountants, affected by the epidemic, some auditors could not work normally and were expected to be unable to complete the audit of the company within the specified time. Therefore, the matters that became the audit institution of the company were not approved. Therefore, the board of directors of the company decided to cancel the extraordinary general meeting of shareholders originally scheduled to be held on January 25 Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) also received the supervision letter of Shanghai Stock Exchange urging the company to hire 2021 annual audit accountants.
Subsequently, on February 25, Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) announced again that it planned to employ Zhongxi certified public accountants. The company will hold an extraordinary general meeting on March 15 to consider the matter.
