Affected by the epidemic, Hongyu New Materials’ major asset restructuring, which took more than 4 months, failed

Affected by the epidemic, Hongyu New Materials’ major asset restructuring, which took more than 4 months, failed
According to incomplete statistics, in the past 5 years, Hongyu New Materials has terminated more than 8 asset activities, terminated the use of idle self-owned funds for securities investment, terminated participation in the establishment of industrial merger and acquisition funds, and terminated the acquisition of some equity in 3 companies in Shenzhen .On March 18, Hongyu New Materials issued an announcement on the termination of major asset restructuring.The Secretariat, the company intends to purchase 75% of the equity of Shenzhen Bo Rui Zhi Heng Technology Co., Ltd. from Shenzhen Kusai Investment Enterprise (Limited Partnership) and Shenzhen Bohui Technology Co., Ltd. by issuing shares and paying cash. The transaction amount is631 million yuan; and through inquiries to include Hunan Huamin Capital Group Co., Ltd. (referred to as “Huamin Group”), no more than 5 specific objects within Lu Guanghui to issue shares to raise funds to raise matching funds, raise matching fundsThe scale does not exceed 270 million and the number of issued shares does not exceed 20% of the total capital of the listed company. The raised matching funds will be used to pay the cash consideration for this transaction after replacing the intermediary fees related to this issuance.The enterprise Huamin Group controlled by the actual controller of the listed company will subscribe at least 90 million yuan, and Lu Guanghui, the company’s dating strategic investor, will subscribe at least 80 million yuan.Because of the planning of this major asset reorganization, Hongyu New Materials’ stock was suspended from the market opening on the morning of November 6, 2019.For the reason for the termination of the reorganization, Hongyu New Materials weighed, “Due to the impact of the pneumonia epidemic caused by the new coronavirus, the target company is expected to complete the 2020 and 2021 performance commitments with major uncertainties, in order to effectively maintain the listed company and invest a lotIn the interest of the parties, in accordance with the principle of friendly consensus, the company and the parties involved in the reorganization carefully studied and decided to terminate this issuance of shares and payment of cash to purchase assets and raise supporting funds and related transactions.”Public information shows that the main business of Hongyu New Materials is to promote high-efficiency ball mill comprehensive energy-saving technologies in the mining, cement and thermal power industries, and provide customers with comprehensive solutions for” increasing production, saving energy, reducing consumption and environmental protection “; controlled ion infiltration(PIP) The industrial promotion of technology effectively improves the wear resistance and corrosion resistance of metal parts and enhances the competitiveness of customer products.Since its listing in 2012, the revenue and profitability of Hongyu New Materials have continued to decline. Listed companies believe that this is related to the “downstream industry thermal power, cement, alumina and iron ore industries continue to be sluggish, and the industry market is relatively small”.In 2017, Hongyu New Materials reorganized for the first time after listing, and continued to decline in 2018.Against this background, Hongyu New Materials completed the change of control in March 2019, and completed the merger change in April 2019.In addition, due to the audited net profit of Hongyu New Materials in 2017 and 2018 for two consecutive fiscal years to make up, according to the relevant provisions of the Shenzhen Stock Exchange GEM Stock Listing Rules, if the audited company determines the listed company in 2019If the net profit is profitable, there will be a risk that the listed company’s stocks may be suspended from listing by the Shenzhen Stock Exchange; if the company’s 2019 net profit is determined to be profitable by the audit of the audit agency, the risk of the listed company’s stocks being suspended by the Shenzhen Stock Exchange is lifted.The performance bulletin shows that Hongyu New Materials can turn losses into profit in 2019. The reason for its profit growth is “In 2019, the company will reduce the provision for bad debts by repaying the investment and goods payments in advance; received government subsidies of about RMB 21.06 million,Recognized as current gains and losses; the company strengthened internal management and reduced costs and period expenses.”Sauna, Night Net Yan Xia Editor Li Weijia proofread Chen Diyan