Recently, the loss of the official seal of the listed company Kingland Technology Co.Ltd(000711) caused by moving has aroused concern.
It is understood that the new seal of Kingland Technology Co.Ltd(000711) has been engraved and officially put into use. “No documents signed in the name of the company or legal representative during the loss of the seal have been found, and the loss of the seal has not caused serious impact and major risk to the production and operation of the company.”
After the news of the loss of the official seal was disclosed, the attention letter of Shenzhen Stock Exchange arrived “quickly”. The questions raised in the letter not only involve the official seal, but also include the recent resignation of several directors, supervisors and senior managers of listed companies, the progress of the equity transfer of controlling shareholders, etc.
After combing the data, the reporter of shell finance found that Kingland Technology Co.Ltd(000711) has changed its main business for many times since its listing, and its net profit has continued to suffer losses since 2019. Its controlling shareholder has twice planned to transfer the control of the listed company, and there has been no substantive progress so far.
In the seven trading days from February 5 to February 22, 2021, Kingland Technology Co.Ltd(000711) share price has been continuously up and down, which is called “the first demon stock in the year of the ox”.
the company’s official seal was lost when we moved. Why did we announce it later?
On December 21, 2021, Kingland Technology Co.Ltd(000711) began to move. In the process of moving, due to a large number of items involved and time constraints, office items were not properly placed. The next day, the company seal administrator found that the company’s official seal and the name seal of the legal representative were lost.
What will happen if the official seal is lost?
Obviously, it will affect the company’s business transactions and the signing of relevant contracts. In serious cases, if someone finds it and signs the contract with the official seal, it may involve property fraud and cause losses to the company.
Therefore, on December 28, 2021, Kingland Technology Co.Ltd(000711) announced that: “after receiving the notice from the seal administrator, the seal administrator inadvertently lost the company’s official seal and the personal seal of the legal representative Mr. Yang Rengui due to poor management. In order to reduce and control the loss and risk caused to the company by the loss of the above seal, the company has arranged staff to handle the re engraving of the seal.”
The official seal was found lost on the 22nd. Why was it announced on the 28th? In this regard, Kingland Technology Co.Ltd(000711) explained to the reporter of shell finance and Economics: “because we found that the official seal was lost, we also spent some time looking for it carefully. We don’t want to find it soon after the disclosure of the news, causing panic in the market, so we didn’t announce it until we failed to confirm the loss.”
It is understood that the new seal has been engraved and officially opened on December 30, 2021. “No documents signed in the name of the company or the legal representative during the period when the seal was lost were found, and the loss of the seal did not cause serious impact and major risk to the production and operation of the company.” Kingland Technology Co.Ltd(000711) indicates.
After the disclosure of the loss of seals, the attention letter of Shenzhen Stock Exchange arrived “quickly”, requiring Kingland Technology Co.Ltd(000711) to explain whether the company has established corresponding internal control systems or mechanisms and specific implementation for the management and use of important seals and certificates, and whether relevant internal controls have been effectively implemented.
In response, Kingland Technology Co.Ltd(000711) replied that the company has formulated the seal and certificate management system, and the company’s seal and certificate are also managed by a special seal administrator. Considering the importance of seal and certificate, the seal administrator is directly in charge of the chairman. In the future work, the use and management of the company’s seals and licenses shall strictly implement the system, and the management of the company’s seals and licenses shall be more strict, so that the company’s internal control can be implemented more effectively.
the net profit has been losing for more than two years, and the management is “Volatile”
According to the official website, Kingland Technology Co.Ltd(000711) was founded in 1993 and listed on Shenzhen Stock Exchange in 1997.
At the beginning of listing, Kingland Technology Co.Ltd(000711) mainly engaged in high-tech copper iron bimetallic products, Songhua River cableway, Erlong mountain ski resort, Erlong mountain slideway and supporting service facilities. In 2000, the company’s main business was adjusted to network and electronic information technology development and application, software development and high-tech investment. In 2002, Kingland Technology Co.Ltd(000711) adjusted its main business to real estate development and operation.
In 2008, Kingland Technology Co.Ltd(000711) tried industrial strategic transformation and set foot in the mining field while taking into account real estate operation and management. In 2014, its main business was adjusted to information system integration services, information technology consulting services, electronic product R & D, manufacturing, sales and maintenance, network and electronic information technology development and application, software development, high-tech investment, tourism infrastructure investment and investment management.
From 2016 to 2017, Kingland Technology Co.Ltd(000711) adjusted its main business to ecological and environmental protection business including ecological water-saving operation services and garden environmental technology services. In 2018, its main business expanded to the field of soil remediation.
Behind the repeated adjustments of the main business, the performance of Kingland Technology Co.Ltd(000711) is unsatisfactory.
The reporter of shell finance found that the performance of Kingland Technology Co.Ltd(000711) showed a “roller coaster” trend in the last 10 years, and the net profit loss years were 2013, 2014, 2019 and 2020.
In the first three quarters of 2021, the net profit of Kingland Technology Co.Ltd(000711) is still at a loss. According to its performance forecast for the half year of 2021, affected by the macroeconomic situation and covid-19 epidemic and other factors, the phased collection of some projects under construction, acceptance and settlement of completed projects and collection of accounts receivable of the company’s holding subsidiary Jinglan Muhe water saving equipment Co., Ltd. are seriously delayed, resulting in a shortage of working capital and a slowdown in the progress of projects under construction, Decrease in operating income and loss; At present, Jinglan North Garden (Tianjin) Co., Ltd., the holding subsidiary of the company, is transforming and developing its business with cash flow as the lifeline. It has adopted the business strategy of stopping the investment and construction of PPP projects and taking the collection of accounts receivable as the core, resulting in reduced operating revenue and losses.
Under the continuous loss of performance, Kingland Technology Co.Ltd(000711) senior management resigned. According to statistics, from October 2021 to now, Kingland Technology Co.Ltd(000711) directors, independent directors, supervisors, board secretaries and securities agents have resigned one after another.
In this regard, Kingland Technology Co.Ltd(000711) said: after the resignation of directors, supervisors and senior managers, the company timely re elected the personnel in this position. The newly recruited personnel meet the requirements of laws, regulations and company management, and have corresponding qualifications and business capabilities. Therefore, the resignation and change of some personnel will not have a significant impact on the company’s production and operation. In the future, the company will actively pay attention to industrial policies, focus on its main business and make every effort to promote the stable and good development of the company according to the overall strategic planning; At the same time, we will constantly improve and optimize the salary system internally to improve the enthusiasm of employees, so as to ensure the stability of the company’s personnel and business.
the controlling shareholder “pulled out” after twists and turns, but so far it has failed
According to the 2020 annual report, Beijing poplar blue sky Investment Center (limited partnership) (hereinafter referred to as poplar blue sky) is the controlling shareholder of Kingland Technology Co.Ltd(000711) and Guo Shaozeng is the actual controller of the listed company.
Shell finance reporter noted that poplar blue sky became the controlling shareholder of the listed company at the end of 2016. In 2017, poplar blue sky also increased its stake in Kingland Technology Co.Ltd(000711) .
However, in the past two years, poplar blue sky seems to have lost interest in the control of listed companies.
According to previous announcements, on September 21, 2018, Guo Shaozeng voluntarily made the letter of commitment on no change of actual control arrangement, promising that “I will not change or give up my actual control over Kingland Technology Co.Ltd(000711) or make arrangements related to the change or waiver of Kingland Technology Co.Ltd(000711) within 60 months from the date of completion of this transaction”.
In November 2019, Guo Shaozeng applied for exemption from the above commitments, which was considered and adopted by the Kingland Technology Co.Ltd(000711) board of directors.
At the same time, poplar blue sky began to plan equity transfer.
At first, the buyer yangshulantian found was Mianyang investment holding (Group) Co., Ltd. (hereinafter referred to as “Mianyang investment”). In short, after the transaction is completed, the controlling shareholder of Kingland Technology Co.Ltd(000711) will be changed to Mianyang investment, and the actual controller of the listed company will be changed to Mianyang state owned assets supervision and Administration Commission.
In the end, the above transaction failed.
Later, poplar Lantian found a new buyer, Xinjiang Water Conservancy Investment Holding Co., Ltd. (hereinafter referred to as “Xinjiang investment”). According to the agreement signing announcement disclosed in February 2021, “At present Kingland Technology Co.Ltd(000711) is in the stage of rapid development, with expanding business scale and high capital demand. If the shareholder equity transfer can be implemented smoothly, Kingland Technology Co.Ltd(000711) The controlling shareholder will be changed to Xinjiang investment, and the listed company will introduce state-owned capital shareholders, which will help to optimize the shareholder structure, improve the credit ability and anti risk ability of the listed company, and provide financial support and guarantee for subsequent business expansion and production and operation. ”
The latest news shows that “up to now, the parties to the transaction are still negotiating on the details of this cooperation and the terms of the agreement, and have not fully reached an agreement… There has been no substantive progress in this equity transfer…”
(Beijing News)
