Editor's Note: This article comes fromCaijingOnchain Finance (ID: CaijingOnchain)Editor's Note: This article comes from
CaijingOnchain Finance (ID: CaijingOnchain)
CaijingOnchain Finance (ID: CaijingOnchain)
, Author: Chen Yi, reproduced by Odaily with authorization.
On the evening of June 1, *ST Chenxin responded to the letter of concern issued by the Shenzhen Stock Exchange on May 25. In the two reply announcements, *ST Chenxin elaborated on the transaction purpose of its two recent acquisitions and its future development plan.
An analysis of the two acquisitions and development plans of *ST Chenxin shows that *ST Chenxin is carrying out a self-rescue activity through the affiliated company of the controlling shareholder.
According to *ST Chenxin's announcement, Dalian Chenxin Network Technology Co., Ltd. was labeled as "*ST" because its audited net profit for two consecutive fiscal years in 2018 and 2019 was negative. If *ST Chenxin's audited net profit in 2020 is still negative, the company's stock will be suspended from listing.
On May 25, *ST Chenxin issued an independent opinion on matters related to the 34th meeting of the company's fourth board of directors, and passed the "Proposal on the Company's Non-public Issuance of Stock Plan". Since then, *ST has conducted 7 consecutive transactions Daily limit, today closed at 1.44 yuan / share, up 44% from the lowest price on May 22.
According to Chainlink Finance, in this self-rescue activity of *ST Chenxin, its most decisive role is the two acquisitions it plans to carry out in the near future, together for Shanghai Jucheng Enterprise Management (Group) Co., Ltd. (hereinafter referred to as "Jucheng Group" for short) bid 449.5 million yuan to acquire 428,095,238 non-publicly issued RMB ordinary shares of *ST Chenxin; another case was *ST Chenxin bought Shanghai Huixinchen Industrial Co., Ltd. (hereinafter referred to as "Huixinchen") 51% stake.
According to the reply letter issued by *ST Chenxin, the company’s game business has shrunk in recent years, e-sports and other businesses are in the stage of investment and development, and has not yet formed a scale. Business operations have encountered difficulties and suffered losses for two consecutive years. challenge. The company urgently needs to improve the company's financial and operating conditions and enhance its sustainable development capabilities by expanding new businesses after acquiring 51% of Huixinchen's equity. After the acquisition is completed, the company will form a parallel business development model of Internet games, e-sports, blockchain and LCOS chips.
It is reported that Huixinchen's main products are LCOS light modulation chips (light valve chips) and LCOS optical modules (optical machines).
According to *ST Chenxin's official data, as of March 31, 2020, *ST Chenxin's monetary funds were only 526,000 yuan.
Therefore, in *ST Chenxin's acquisition of Huixinchen, *ST Chenxin must be able to pay the acquisition price after obtaining the acquisition payment from Jucheng Group for *ST Chenxin. This also means that if Jucheng Group fails to acquire *ST Chenxin, then *ST Chenxin's acquisition of Huixinchen will also fail.
