“Scallop escape” Zhangzidao has changed its ownership, and The state-owned enterprise has become the largest shareholder, with the market value of the company increasing by 600 million yuan in January

2022-06-06 0 By

Weekly article | the world of finance and economics Yang Qiao edit | sun yue “scallops run road” of the listed company roebuck island, change the owner.According to the Beijing Equity Exchange’s auction announcement on March 26, Zhangzidao’s shares were sold by dalian Yanhua Group Co., LTD, a state-owned enterprise in Dalian, for 343 million yuan.Zhangzidao Investment and Development Center of Changhai County (hereinafter referred to as “Zhangzidao Investment and Development Center”), the original controlling shareholder of Zhangzidao Group, has transferred its 10.996 million shares of the Company.The transaction price of the auction is about 3.12 yuan. Based on the latest share price of 4.16 yuan of Zhangzidao, the state-owned enterprise has become the largest shareholder of Zhangzidao, accounting for 15.46% of the total share capital of Zhangzidao.The original controlling shareholder of Roe Island Investment and Development Center is a collectively owned enterprise wholly owned by zhangzidao Town People’s Government of Changhai County. After the auction, roe Island Investment and Development Center’s share of Zhangzidao is reduced to 7.03%.It is understood that the shares were publicly auctioned on March 25.After the shareholding change, the shareholding ratio of the top 10 shareholders of Zhangzidao will be further dispersed.The auction was due to the dispute over pledge repurchase, which forced zhangzidao shareholders to flee.The case began in October 2021 when the three shareholders, including zhangzidao Investment Development Center, which is the controlling shareholder of Zhangzidao, pledged the company’s shares to Ping An Securities, but failed to meet repayment obligations. As a result, the three shareholders were auctioned off to settle their debts.In February 2022, Roe Shima said that the three shareholders received an executive order issued by the court, ruling to auction and sell off the shares held by the Investment and Development Center.Zhangzidao also announced that the successful auction will lead to changes in the controlling shareholder and actual controller of the company.Since the announcement of the auction, investors have been discussing who will become the successor of Zhangzidao, the “drama elite” company.Now, the auction has been settled, the takeover of dalian Salt Chemical Group Co., LTD., formerly known as Dalian Fuzhouwan Salt Works, was rebuilt into a wholly state-owned company after 2009, and its name was also changed to Dalian Salt Chemical Group Co., LTD.Tianyan data showed that the State-owned Assets Supervision and Administration Commission of the Dalian Municipal People’s Government ended up holding all the shares of Dalian Yanhua.There is speculation in the market that dalian Salinization is eyeing zhangzidao’s shell and seeking its own way to get listed.But most investors joked in the investors’ bar that “whoever takes over, the scallops will just stop running away.”Since the announcement of Zhangzidao on February 18, the stock price of Zhangzidao has also risen in the capital market. As of March 25, the stock price was 4.16 yuan per share, which increased by nearly 600 million yuan compared to one month ago. The latest market value is 2.958 billion yuan.The dalian salinization that takes over will brush with scallop what kind of spark?For a long time, Zhangzidao has become a hot spot in the market due to its frequent scallop flight.”Since 2014, Zhangzidao has frequently taken advantage of the difficulty of Marine fisheries inventory to fabricate its accounting, releasing information on the death and loss of scallops caused by natural causes in 2014, 2017 and 2019, resulting in losses.””Where are the Scallops?” it took six years before the truth came out.In June 2020, Zhangzidao was certified as “financial fraud” by China Securities Regulatory Commission.In July 2020, China Securities Regulatory Commission (CSRC) officially confirmed that Zhangzidao had falsely increased its profit by 131 million yuan in 2016 and 279 million yuan in 2017 respectively. In September 2020, the case related to Zhangzidao was officially transferred to the public security organ for criminal responsibility.China Securities Regulatory Commission (CSRC) said it was “shocked” by the zhangzidao fraud and concluded that “The nature of zhangzidao’s financial fraud is very bad, and the impact is very bad, which seriously undermines the seriousness of the information disclosure system and the basis of market integrity”.Despite the fraud, zhangjido is still making a dramatic scene.In 2020, Zhangzidao achieved a revenue of 1.927 billion yuan with a year-on-year growth of -29.4%, and its attributable net profit was 14.85 million yuan with a year-on-year growth of 103.79%. However, its non-net profit loss was 144 million yuan with a year-on-year growth of 22.56%.As a result, Zhangzidao also received another letter of concern from the Shenzhen Stock Exchange, asking it to clarify whether there was any surprise trading at the end of the year to avoid the delisting risk warning.In response, Zhangzidao stated that in the fourth quarter of 2020, the company received government subsidies for shutdown and production, and the company sold some related assets to increase its revenue by about 120 million yuan.(Photo: VCG) Scallops turned into prepared dishes?Zhangzidao is also transforming itself after the fraud scandal.At the end of 2021, a gust of prepared vegetables, so that the primary market and secondary market are restless, all kinds of capital and capital masters have flocked to the layout.As the concept of prepared food has gained popularity, Zhangzidao has also chosen to join the race.On the afternoon of January 13, 2022, Zhangzidao told investors on the interactive platform that the company has prepared prepared food products featuring ready-to-eat, ready-to-cook, ready-to-heat and ready-to-serve, and has also marketed “Zhangzidao Flavor” Marine food series, such as garlic vermicilli, powdered fish fillet, fresh + scallop, black pepper salmon, dragon tendon, Frog Leaping wall and so on.Since then, Zhangzidao has attracted the attention of the capital market, and its share price rose by the daily limit on January 14.Shares rose for five consecutive days, up 10.12%.However, as mentioned in our earnings report in mid-2019, Zhangzidao will change its catering channel from raw material supply to semi-finished products, pre-made products and even customized products.The function of central factory or central kitchen will become the core capability for Marine food enterprises to accelerate cultivation.According to industry insiders, zhangzidao’s main business has gradually shifted from farming to high-end sea cucumber, Marine aquatic trade and processing, and prepared vegetables.According to the latest financial report of Zhangzidao, in the first three quarters of 2021, zhangzidao achieved revenue of 1.568 billion yuan, attributable net profit loss of 30 million yuan, and total assets of 2.464 billion yuan.