Gosun Holdings Co.Ltd(000971) is involved in a lawsuit again. The amount is not small, and the reason is strange! A few years ago, an organization participating in the fixed increase of the company lost money, and now it is looking for the company to claim!
According to the latest announcement, Gosun Holdings Co.Ltd(000971) recently received the (2022) China trade Zhongjing Zi No. 002899 arbitration notice served by China International Economic and Trade Arbitration Commission and the arbitration application submitted by Huatai Securities Co.Ltd(601688) (Shanghai) Asset Management Co., Ltd. (hereinafter referred to as “Huatai asset management”) as the applicant, It was learned that Huatai asset management filed an application for arbitration against the company with China International Economic and Trade Arbitration Commission. China International Economic and Trade Arbitration Commission has decided to accept the case with case number ds20220054.
The events involved in the arbitration were not complex in themselves. It is disclosed that in July 2016, Gosun Holdings Co.Ltd(000971) was approved to issue shares to purchase assets and raise supporting funds. In September 2016, Gosun Holdings Co.Ltd(000971) completed the share issuance, and Huatai asset management was allocated 5.532786 million shares, with a total amount of 135 million yuan.
Now, Huatai asset management, based on the subscription agreement signed with the company, filed an arbitration application to the arbitration institution, requesting the company to compensate its investment balance loss and interest loss, as well as relevant commissions, taxes and attorney fees, totaling about 88.8899 million yuan, and requesting the arbitration fee of the case to be borne by the company.
According to the review announcement, Gosun Holdings Co.Ltd(000971) disclosed the implementation of issuing shares and paying cash to purchase assets and raising supporting funds and listing report of new shares in September 2016, which is consistent with the above announcement.
It is disclosed that in that year, Gosun Holdings Co.Ltd(000971) acquired 100% equity of yingyue network for a consideration of 1.15 billion yuan, of which 56.52% of the transaction consideration was paid by issuing shares, and another 500 million yuan in cash was paid. With the support of a number of institutions, the issue price of supporting fund-raising of the company was 24.40 yuan per share, which was close to the stock price of the company at that time.
In addition, from the situation of the allocated institutions, in addition to Huatai asset management, it also includes leaders in the fixed growth market such as Guohua life insurance.
However, Gosun Holdings Co.Ltd(000971) disappointed these institutions. From the stock price trend, shortly after the completion of the fixed increase, the company’s stock price entered a downward channel. From 2016 to 2020, based on the annual cycle, the company’s share price fell by 10.38%, 28.99%, 60.48%, 6.33% and 26.05% respectively. In 2021, the company’s share price rose by 2.17%.
The continuous decline has also caused heavy losses to these institutions involved in fixed growth.
Gosun Holdings Co.Ltd(000971) the latest share price is 2.41 yuan. Taking into account the “10 to 10” in 2017, if the fixed growth institution has been holding shares until now, the loss will exceed 80%. It is speculated that Huatai asset management has sold the stock and made a “stop loss” with a principal of 135 million yuan and various losses of about 88.8899 million yuan.
losses have occurred. Who will bear the responsibility? According to the latest announcement, Huatai asset management has found a listed company and has applied for arbitration.
“I heard it for the first time.” According to the analysis of senior investment bankers to the reporter of Shanghai Securities News, there has been a definite increase in A-Shares in the history. It is often the controlling shareholder (actual controller) of listed companies who come forward to reveal the bottom, and it has not been heard of that listed companies come forward to reveal the bottom directly.
The policy has always been clear. It is reported that the relevant regulations clearly indicate that the issuer, underwriters and relevant personnel… Shall not provide financial assistance or compensation to the investors participating in the subscription directly or through their stakeholders. Since then, the regulatory authorities have further made it clear that it is strictly prohibited to disclose the bottom of any form of fixed increase.
Then, what is the evidence of Huatai asset management’s application for arbitration? The announcement was silent.
Gosun Holdings Co.Ltd(000971) announced that this case has been filed and accepted by China International Economic and Trade Arbitration Commission. The company has actively prepared relevant materials related to the above arbitration matters and will submit them to the arbitration institution as soon as possible.
