Shenzhen Liantronics Co.Ltd(300269) ( Shenzhen Liantronics Co.Ltd(300269) ) on May 19, it was announced that 836494 million shares of the company (accounting for 15.04% of the total share capital of the company) held by Liu Hujun and Xiong Jinyu, the controlling shareholder and persons acting in concert, will be judicially sold off on Alibaba judicial auction platform. If the judicial sale is successful, the actual control of the company may be changed, which will not affect the production and operation and corporate governance of the company for the time being.
The announcement shows that the above shares were auctioned. Due to the overdue pledge financing, the relevant creditors filed a judicial lawsuit with the court, and the court ruled to enforce it. The auction starts from June 6 to August 5 this year.
Looking back, Shenzhen Liantronics Co.Ltd(300269) takes LED display as its core business and forms six product lines: professional display, general display, conference display, commercial display, outdoor display and rental display. Its service fields include command and monitoring, rail transit, municipal engineering, commercial real estate, exhibition display, public security law, VR + education, video conference, advertising media, performing arts activities, radio and television studio and many other fields.
In order to expand the marketing service industry, Shenzhen Liantronics Co.Ltd(300269) has made a series of investment mergers and acquisitions since 2013. From 2014 to 2017, LianJian optoelectronics acquired 13 companies, spending a total of 5.429 billion yuan and forming a high goodwill of 4.637 billion yuan.
Since 2017, with the continuous thunderstorm of the enterprises acquired in the early stage, Shenzhen Liantronics Co.Ltd(300269) has continuously fallen into huge losses. From 2018 to 2020, the company lost 2.888 billion yuan, 1.381 billion yuan and 316 million yuan respectively.
Part of the reason why “LianJian optoelectronics” became ” Shenzhen Liantronics Co.Ltd(300269) ” was the financial fraud of Sichuan timeshare advertising media Co., Ltd. (hereinafter referred to as “Timeshare media”). According to the investigation of the CSRC, from 2014 to 2016, timeshare media falsely increased its operating revenue by 61.787 million yuan and falsely increased its profit by 604725 million yuan through fictitious advertising business revenue and cross period recognition of advertising business revenue.
As Shenzhen Liantronics Co.Ltd(300269) was investigated and found to be false by the CSRC, a large number of investors filed claims against the company. Affected by this, the company’s 2020 financial report was issued by Daxin certified public accountants with an unqualified audit report with “major uncertainties related to continuous operation”.
Faced with difficulties, Shenzhen Liantronics Co.Ltd(300269) put forward the strategy of “appropriate strategic contraction, focusing on main business and strengthening core competence” in 2019, cleared out “problem assets”, disposed of Litang marketing acquired for 496 million consideration at a price of 15.3 million yuan, sold time-sharing media acquired for 860 million yuan at a price of 100000 yuan, and stripped 100% equity of Huahan culture of 364 million yuan at a symbolic price of 1 yuan.
In July 2020, Shenzhen Liantronics Co.Ltd(300269) signed the asset transfer contract with its home industry and transferred 100% equity of its wholly-owned subsidiary Jianhe optoelectronics to its home industry at the price of 139 million yuan. In March 2022, Shenzhen Liantronics Co.Ltd(300269) plans to sell 36 self owned office buildings in Nanshan District of Shenzhen at a price of 640 million yuan.
After a series of operations, the performance of Shenzhen Liantronics Co.Ltd(300269) turned from loss to profit in 2021. In 2021, the company achieved an operating revenue of 1.031 billion yuan, a year-on-year decrease of 9.19%; The net profit was 611615 million yuan, a year-on-year increase of 119.36%. In the first quarter of 2022, the revenue was 199 million yuan and the net profit loss was 118688 million yuan.
Shenzhen Liantronics Co.Ltd(300269) announced on May 8 this year to apply for hat removal Shenzhen Liantronics Co.Ltd(300269) said that the impact of the matters involved in the major uncertainties related to the company’s continuous operation has been eliminated, and the company has applied to Shenzhen Stock Exchange to revoke other risk warnings.
It is worth mentioning that Shenzhen Liantronics Co.Ltd(300269) also faces hundreds of investor claims due to the previous investigation and handling of the financial data fraud case of time-sharing media. At the same time, Shenzhen Liantronics Co.Ltd(300269) faces the risk that the judicial auction of some shares of the company’s controlling shareholders and persons acting in concert may cause the change of actual control, involving a total of 836494 million shares.
In fact, part of the shares held by Liu Hujun and Xiong Jinyu, the controlling shareholder of Shenzhen Liantronics Co.Ltd(300269) and the persons acting in concert, were auctioned at the end of last year, but they were auctioned for many times.
The last streaming shot was this month Shenzhen Liantronics Co.Ltd(300269) announcement: as of 10:00 on May 5, 2022, the company inquired about the bidding results publicized on Alibaba judicial auction network platform, which showed that the 836494 million shares held by Liu Hujun and Xiong Jinyu, the controlling shareholder of the judicial auction and consistent pedestrians, had been sold.
