On the evening of December 31, Citic Guoan Information Industry Co.Ltd(000839) (000839) announced that Guoan group, the parent company of the company’s controlling shareholder Citic Guoan Information Industry Co.Ltd(000839) Co., Ltd. (hereinafter referred to as “Guoan Co., Ltd.”), received the notice served by Beijing No. 1 Intermediate People’s Court on December 30. The creditor Bank Of Communications Co.Ltd(601328) Heze branch claimed that Guoan group could not pay off its due debts and was obviously lack of solvency, On the grounds of reorganization value and feasibility, apply to the court for reorganization of Guoan group.
According to the announcement of Citic Guoan Information Industry Co.Ltd(000839) on December 31, as of that day, Guoan Co., Ltd. held Citic Guoan Information Industry Co.Ltd(000839) 1.428 billion shares, accounting for 36.44%, which were all frozen by the judiciary, of which 1.419 billion shares were pledged. It is understood that at the end of 2019, the debt crisis of Citic Guoan Information Industry Co.Ltd(000839) group broke out, and all the equity of three listed companies ( Citic Guoan Information Industry Co.Ltd(000839) , Baiyin Nonferrous Group Co.Ltd(601212) , Citic Guoan Wine Co.Ltd(600084) ) held by Citic Guoan Information Industry Co.Ltd(000839) group have been pledged. On the same day, the three listed companies issued an announcement on the application for reorganization of Guoan group.
The reporter noted that just the day before, Citic Guoan Information Industry Co.Ltd(000839) disclosed that it planned to transfer 100% equity of its subsidiary Guoan technology to Tianjin Chengxin, with a total transfer price of 180 million yuan.
In addition, in October this year, Citic Guoan Information Industry Co.Ltd(000839) subsidiary Guoan Guangshi was also applied for bankruptcy liquidation by creditors. Later, in November this year, Citic Guoan Information Industry Co.Ltd(000839) said in response to the letter of concern of Shenzhen stock exchange that it was facing greater liquidity risk.
According to the data, Guoan Guangshi was established in April 2014, Citic Guoan Information Industry Co.Ltd(000839) holds 74.42%. As of December 31, 2020, the audited total assets of the company were 1.383 billion yuan, net assets were -1.551 billion yuan and total liabilities were 2.934 billion yuan.
In recent years, due to the impact of online video content, the radio and television business has been greatly impacted, Citic Guoan Information Industry Co.Ltd(000839) said that Guoan radio and television failed to respond effectively to this rapid market and policy change. The bankruptcy dilemma of Guoan TV is also affected by the debt problem of major shareholders of Listed Companies in recent two years, so as to achieve the goal that Guoan TV has limited external financing, liquidity difficulties and business development.
On November 2, Citic Guoan Information Industry Co.Ltd(000839) announced that some assets and accounts of the company were frozen. The announcement said that Jiangsu Galaxy filed a lawsuit with Beijing No. 3 intermediate people’s court due to the dispute with Citic Guoan Information Industry Co.Ltd(000839) bill payment claim, requesting Citic Guoan Information Industry Co.Ltd(000839) to order Citic Guoan Information Industry Co.Ltd(000839) to pay 84.15 million yuan and interest of e-commerce acceptance bill to Jiangsu galaxy.
Since then, Shenzhen Stock Exchange has issued a letter of concern on the freezing of some assets and accounts of Citic Guoan Information Industry Co.Ltd(000839) and the application for bankruptcy liquidation of its subsidiary guoanguang, requesting to explain the impact of the above time on the production and operation of the company.
Citic Guoan Information Industry Co.Ltd(000839) replied that the company did have liquidity difficulties.
Citic Guoan Information Industry Co.Ltd(000839) said that due to the bankruptcy application by the supplier, the business development of Guoan Guangshi was limited to a certain extent. However, due to its small business scale, the audited operating revenue of Guoan Guangshi in 2020 was 107 million yuan, accounting for only 4.55% of the operating revenue of the listed company. Its business changes will not have a significant impact on the overall operation of the listed company.
As of October 31, 2021, the balance of the parent company’s long-term equity investment in Guoan Guangshi was RMB 0, other receivables were RMB 1.552 billion and guarantee balance was RMB 289 million. If Guoan Guangshi enters the bankruptcy liquidation procedure, there is a risk that the above other receivables cannot be recovered, and the guarantee liability has not been eliminated, Citic Guoan Information Industry Co.Ltd(000839) will withdraw the impairment provision and recognize the corresponding estimated liabilities in accordance with the relevant provisions of the accounting standards for business enterprises.
According to the third quarter report of 2021 disclosed by Citic Guoan Information Industry Co.Ltd(000839) , the company’s monetary capital balance is 837 million yuan, short-term loans are 1.755 billion yuan, and non current liabilities due within one year are 663 million yuan.
Citic Guoan Information Industry Co.Ltd(000839) said that due to the debt problems of major shareholders and credit policies, the company’s external financing is more difficult, its business development is limited, the cash flow generated from operating activities cannot meet the company’s capital use needs, and the disposal of some assets and the return of funds after disposal are limited, resulting in liquidity difficulties for the company, It has made risk warning in the reply announcement of 2019 annual report, 2020 annual report, 2021 semi annual report and relevant periodic report inquiry letters.
(Securities Times · e company)
