There is a saying in the man-made diamond industry that “the world’s man-made diamonds look at China, and China’s man-made diamonds look at Henan”. However, such an industry leading enterprise in Henan was identified as “long-term systematic financial fraud” by the CSRC and was filed for investigation and severely punished. Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) , which is now on the brink of delisting, has been in trouble again recently. The actual controller has been arrested and the stock price fluctuates sharply.
Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) : the former chairman was taken compulsory measures, and the share price fluctuated sharply
Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) , namely Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) , is mainly engaged in superhard materials such as artificial diamond and artificial diamond jewelry, with the production and marketing scale ranking among the top three in the industry. Former chairman Guo Liuxi was also known as the “king of artificial diamonds” Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) share price changes began on February 18 and soared 44% in the following five days it is precisely because on February 18, Guo Liuxi, chairman of was taken compulsory measures by the public security organ on suspicion of not disclosing important information in violation of regulations
At the same time, the new chairman Liu Miao was elected to the stage through the emergency meeting of the board of directors. According to public information, Liu Miao is currently the deputy general manager of Henan Agricultural Investment Financial Holding Co., Ltd., while Henan agricultural investment financial holding is a state-owned enterprise, subordinate to the Department of finance of Henan Province. Previously, he was Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) the fourth largest shareholder the change of actual controller makes the stock price rise continuously
Market participants said that local governments often have a strong willingness to save local listed companies. Next, the company may “protect the shell” by means of major asset restructuring
At the end of 2020, the most stringent new regulations on delisting in history were issued, and the regulatory authorities also made clear their determination to strengthen delisting supervision and strictly implement delisting standards market participants said that for the recent rise of share price, it does not rule out the possibility of self rescue of funds and exemption from triggering trading delisting rules. Investors have a high risk of “taking chestnut from the fire” and following the trend
Chen Dong, lawyer of Wanshang tianqin (Shanghai) law firm: according to the provisions of the CSRC, the investment risk warning will be issued every month. During this period, if there is capital malicious speculation in ST’s shares, the interests of this part may not be guaranteed in the subsequent rights protection.
reporter’s visit Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) factory production three shifts and normal operation
experienced adjustment in recent trading days, and Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) share price fell back to its original position after soaring The abnormal fluctuation of stock price also shows the game between speculative funds and whether the company is delisted or not. The reason why the market is lucky to delisting is that in addition to the takeover of state-owned assets, another reason is the company’s main business.
In fact, company was investigated by the CSRC as early as two years ago. Subsequently, the company’s management personnel were fined or even banned from the market due to a number of violations is located in the main plant of Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) Zhengzhou, Henan Province. Now it seems that it is under normal construction.
Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) vendors near the factory: there is no shutdown, three shifts, the machine can’t stop. There are six or seven hundred workers in the factory, and the benefits are good.
Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) factory employees: it’s hard to say in the capital market that the enterprise’s production and operation will not fall down, in the second half of 2019, our factory will be rich and earn hundreds of millions of . It is because of the capital market that the debt is too heavy.
The reporter observed around the factory for several hours and found that trucks came in and out from time to time. The truck driver said in an interview that the truck carries raw materials, and one truck can pull about 16 tons and 17 tons.
According to online pictures, recently, the plant is still lit at night, which seems to be saturated with production capacity from the company’s financial data, the company’s operating revenue increased significantly in the first three quarters of 2021, with a total revenue of 560 million yuan, a year-on-year increase of more than 83%.
Professor Cao Xiao of Shanghai Institute of international finance and Economics: at present, the main business of Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) is still valuable , and the return to parent profit is negative, mainly due to its high debt and high financial pressure ratio. Another reason is the current scandal, which leads it to financial difficulties, Assets and equity are frozen.
In fact, when Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) was warned of delisting at the beginning of last year, the reporter visited. The administrative headquarters of the company is located in an industrial park in Zhengzhou. The first floor is the exhibition hall and the second floor is the office. In this year, the three floors have been empty, and the words “company” on the facade are still vaguely visible then, through inquiry, the reporter found the new office area of the company, and the staff still avoided the reporter. On the whole, the office space of the company has been significantly reduced compared with that before.
Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) financial report “bad track” touched a number of delisting red lines
Behind the normal operation of the company is the financial statements full of loopholes, and listed companies are constantly “hollowed out” Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) not only touches the financial delisting risk and the risk of major illegal compulsory delisting, but also may touch the market value delisting risk, which has touched the delisting red line in many aspects
According to the information disclosed by the CSRC, in recent years Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) can be described as “bad deeds” . Including related party transactions, illegal guarantees, fictitious equity transactions, fictitious increase in revenue and profit, fictitious inventory of fixed assets, fictitious increase in construction in progress, false financial statements, major omissions, etc. A total of one long-term warning has been issued for nearly 20 years
Not only are the financial indicators involved in delisting, the company’s 2019 and 2020 financial statements have been issued with qualified and negative audit reports. If the company is issued with qualified or negative audit opinions again in 2021, it will also trigger delisting.
Wanshang tianqin (Shanghai) law firm Lawyer Chen Dong: so far, its audit work in 2021 has not started. According to the regulations, it is required to issue a complete, accurate and true annual report before April 30, 2022. If it cannot be issued, it may face delisting risk. Secondly, the results of the annual report are also very important. If the results of the annual report are not ideal, or the annual report shows that its net assets at the end of 2021 are negative, it may also be delisted.
In addition, the data show that Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) currently involves up to 90 litigation and arbitration cases, with a total amount of more than 6 billion yuan. Subsequent unsuccessful cases will face large amounts of execution and compensation, and the company’s funds, equity and other assets may continue to be sealed up and frozen by the court.
Chen Dong, lawyer of Wanshang tianqin (Shanghai) law firm: generally speaking, the delisting risk has not been alleviated for nearly two years since being punished, and still faces the risk of major illegal compulsory delisting, financial delisting and even market value delisting.
