On January 4, Yanan Bicon Pharmaceutical Listed Company(002411) received another letter of concern from Shenzhen Stock Exchange.
Shenzhen stock exchange requires Yanan Bicon Pharmaceutical Listed Company(002411) to disclose and explain the specific conditions of the two guarantees one by one, and comprehensively check whether there are other matters that should be disclosed but not disclosed.
At the opening of trading on January 5, Yanan Bicon Pharmaceutical Listed Company(002411) shares fell rapidly. As of the closing, its shares closed at 11.30 yuan, down 7.22%.
deep in the negative quagmire
Before Yanan Bicon Pharmaceutical Listed Company(002411) received the attention letter from the Shenzhen Stock Exchange, it had fallen into a “vortex” of negative news. Just after the results of the shareholder litigation cases, the Shenzhen Stock Exchange issued the attention letter.
On December 31 last year, Yanan Bicon Pharmaceutical Listed Company(002411) received the decision on administrative supervision measures issued by Shaanxi regulatory bureau of China Securities Regulatory Commission. Upon investigation, Yanan Bicon Pharmaceutical Listed Company(002411) there are problems of illegal disclosure of information related to the occupation of funds by controlling shareholders and their related parties and failure to disclose external guarantees as required. At the same time, it also decided to issue a warning letter for Yanan Bicon Pharmaceutical Listed Company(002411) and Gu Xiaojia and Dong Wen.
In response, Yanan Bicon Pharmaceutical Listed Company(002411) said in its reply that the company attaches great importance to the problems pointed out in the decision and will take practical and effective measures to actively rectify them in strict accordance with the requirements.
Prior to that, Yanan Bicon Pharmaceutical Listed Company(002411) did not disclose the non operational occupation of funds by the controlling shareholders and their related parties due to major omissions in the annual report from 2015 to 2018. Shaanxi regulatory bureau decided to order Yanan Bicon Pharmaceutical Listed Company(002411) to make corrections, give a warning and impose a fine of 600000 yuan.
Later, in November 2021, after mediation by Xi’an Intermediate People’s Court of Shaanxi Province, Yanan Bicon Pharmaceutical Listed Company(002411) reached a settlement with 90 shareholders, and 89 plaintiffs of first instance withdrew the lawsuit. However, in addition to the above plaintiffs, up to now, the Securities Misrepresentation case involving 433 investors has not been handled.
Meanwhile, Xi’an Intermediate People’s court, the competent court of the case, held that the defendant Yanan Bicon Pharmaceutical Listed Company(002411) constituted the infringement of Securities Misrepresentation due to the undisclosed behavior of major connected transactions, and should bear the corresponding civil liability for compensation to the infringed investor. The plaintiff Wu Yanfen bought shares from the implementation date to the disclosure date and held them until the disclosure date. There is a causal relationship between the loss of investment balance and the false statement of the defendant Yanan Bicon Pharmaceutical Listed Company(002411) , and has the right to claim compensation from the defendant Yanan Bicon Pharmaceutical Listed Company(002411) .
In addition to administrative punishment, 2020 Yanan Bicon Pharmaceutical Listed Company(002411) also fell into the vortex of attention letters issued by Shenzhen Stock Exchange. According to the reporter’s statistics, in 2020 Yanan Bicon Pharmaceutical Listed Company(002411) received 7 attention letters issued by Shenzhen Stock Exchange.
According to the latest sky eye survey data, Yanan Bicon Pharmaceutical Listed Company(002411) has up to 484 self risks and 659 peripheral risks. Among them, it was enforced by the court in September 2021 for performing legal obligations on time; In November, it became a dishonest company publicized by the Supreme People’s court and was listed as a restricted high consumption enterprise by the court; There are up to 48 pieces of illegal processing information and 39 pieces of legal proceedings.
As of the third quarterly report of 2021, Yanan Bicon Pharmaceutical Listed Company(002411) a total of 630 million shares were frozen and 664 million shares were pledged. More investors in Yanan Bicon Pharmaceutical Listed Company(002411) deeply trapped in the negative quagmire questioned whether it would become the “second Kangmei”.
how to develop business
In 2015, Yanan Bicon Pharmaceutical Listed Company(002411) started its pharmaceutical expansion after the backdoor holding subsidiary Jiangsu Jiujiu Technology Co., Ltd. (hereinafter referred to as “Jiujiu”) was listed on the Shenzhen Stock Exchange. It has successively acquired Jiangsu Xiaoying Pharmaceutical Co., Ltd., Bikang Runxiang pharmaceutical Hebei Co., Ltd., Bikang Baichuan Pharmaceutical (Henan) Co., Ltd.
The acquisition of pharmaceutical companies accelerated their layout in the pharmaceutical sector, so the revenue also ushered in a “profit-making period”. In just four years, Yanan Bicon Pharmaceutical Listed Company(002411) revenue increased from 3.724 billion yuan in 2016 to 9.328 billion yuan in 2019.
However, the good times are not long, and the performance of Yanan Bicon Pharmaceutical Listed Company(002411) in 2020 has changed greatly. Not to mention the decline in revenue, there have been a lot of problems such as breach of contract, securities disputes and equity pledge. This is why there will be as many as seven letters of concern for Yanan Bicon Pharmaceutical Listed Company(002411) in 2020.
Not only the performance is facing the test, but also the capital situation of the company is uncertain. Its short-term loan in 2020 alone is as high as 10.431 billion yuan, the debt asset ratio rises to 53.73%, and the operating cash flow is – 365 million yuan.
In June 2021, Yanan Bicon Pharmaceutical Listed Company(002411) was “overwhelmed”. Due to lack of solvency, its controlling shareholder Xinyi Bikang was applied for bankruptcy and reorganization.
But the turnaround came quickly. Lithium hexafluorophosphate, as the core material of power battery electrolyte, has experienced a wave of price rise, and its price has exceeded 400000 yuan / ton in July 2021 and 450000 yuan / ton in August.
This brought new hope to Yanan Bicon Pharmaceutical Listed Company(002411) . Who could have expected that when the pharmaceutical sector was about to fail, new energy would save the company in “fire and water”.
According to the latest investment and platform data, Yanan Bicon Pharmaceutical Listed Company(002411) said that at present, the company’s Jiujiu technology lithium hexafluorophosphate products have sufficient orders, continuous full production and sales, and basically have no inventory.
It is reported that at present, the production capacity of lithium hexafluorophosphate, a new energy product of Jiujiu technology, has reached 6400 tons / year. Jiujiu technology also signed a long-term cooperation agreement with enchem of South Korea on August 2021.
In the third quarter of 2021, Yanan Bicon Pharmaceutical Listed Company(002411) performance began to “rebound”. According to the data, in the third quarter of 2021, its revenue reached 2.141 billion yuan, a year-on-year increase of 31.35%, and its net profit reached 305 million yuan, a year-on-year increase of 1434.52%.
Later, in December 2021, Yanan Bicon Pharmaceutical Listed Company(002411) announced that it had signed an asset acquisition intention agreement with Nanhua Bio-Medicineco.Ltd(000504) to sell some pharmaceutical assets held by Yanan Bicon Pharmaceutical Listed Company(002411) . At the same time, it received a letter from Jiangsu Province on the pre-trial of new energy project expansion, began to turn its business to new energy and began to peel off pharmaceutical assets.
However, it should be noted that Yanan Bicon Pharmaceutical Listed Company(002411) has not yet got out of the quagmire of various dispute cases. Even if the performance ushers in a sharp rise, it may only be temporarily relieved.
In addition, the competition inside the lithium hexafluorophosphate track is also fierce. Many enterprises such as Zhejiang Yongtai Technology Co .Ltd(002326) , Do-Fluoride New Materials Co.Ltd(002407) , Guangdong Tonze Electric Co.Ltd(002759) , Shandong Shida Shenghua Chemical Group Company Limite(603026) have begun to layout in this track. In this regard, Yanan Bicon Pharmaceutical Listed Company(002411) also admitted in the institutional research that the market price of lithium hexafluorophosphate products is still rising. Subsequently, with the expansion of the industry, the release of lithium hexafluorophosphate capacity and the improvement of the relationship between supply and demand, the price may be corrected to a certain extent.
For the current Yanan Bicon Pharmaceutical Listed Company(002411) secondary market, after experiencing the impact of the price of lithium hexafluorophosphate, its share price has not increased significantly. In September 2021, after its share price reached 17.99 yuan / share, it began to stabilize gradually. Today, its share price hit 11.01 yuan / share at the lowest.
The hot lithium hexafluorophosphate can only solve the “urgent need”. The business direction is particularly important whether the follow-up can continue to keep up with the force. The reporter sent an interview letter to the enterprise on the current business problems of the company. As of the press release, no reply has been received from the enterprise.
(International Finance News)
