Senior executives resigned, went bankrupt, were pursued for debts, and were sued 12 times in 7 months! This Photovoltaic Enterprise Is in a Negative Situation

2023-07-28 09:12:57

ST Zhongli Group seems to fall into a negative circle.

Following the resignation of the vice chairman, the judicial auction of some shares of controlling shareholders and the bankruptcy application of subsidiaries, ST Zhongli has recently fallen into a storm again.

On July 26, ST Zhongli announced that the company had received prosecution documents from Everbright Bank and Bank of Communications against it and its subsidiaries. The two banks asked the company to return its principal and interest, penalty interest, compound interest and lawyer fees totaling 354 million yuan. Changshu Branch of


China Everbright Bank Co., Ltd. requested the court to order the company to repay the loan principal and interest, penalty interest, compound interest and attorney fees totaling 97.0133 million yuan ; it has the right to dispose of the contract related collateral within the maximum amount of priority to repay the debt of this case. The Bank

of Communications requested the court to order the Company to repay the principal and interest of the loan, penalty interest, compound interest and attorney fees under the relevant working capital loan contract, totaling 257 million yuan ; it had the right to dispose of the collateral related to the contract and was given priority to repay the debts of this case within the maximum amount.

For the bank prosecution, ST Zhongli said that because the case did not open, it was impossible to judge the impact on the company's current or later profits. However, at present, the above-mentioned defendants have entered the state of pre-reorganization or reorganization . Among the four companies

involved in the lawsuit, except ST Zhongli Group, the other three are subsidiaries of ST Zhongli Holdings. It

is noteworthy that the defendant in the above case, Suzhou Tenghui Photovoltaic Technology Co., Ltd. , was filed for bankruptcy reorganization for the second time by Jiangsu Weierfu Electronic Technology Co., Ltd. on July 24. This is the fourth time the company has been filed for bankruptcy .

However, regarding the bankruptcy rumors, Tenghui Photovoltaic replied: At present, Zhongli Group is in the pre-restructuring stage, Tenghui Photovoltaic has sufficient orders and operates normally.

According to Digital New Energy DNE, since 2023 alone, ST Zhongli and its subsidiaries have been involved in 12 lawsuits , with a cumulative amount of 818 million yuan.

In addition, on July 25, ST Zhongli announced that the board of directors of the company received a written resignation report from Mr. Dong Shuguang, vice chairman and director of the company, on July 25, 2023. At the same time, he resigned as a member of the Strategic Committee of the Board of Directors and the Remuneration and Assessment Committee of the Board of Directors.

On the same day, ST Zhongli announced that 34.22 million shares held by Mr. Wang Baixing, the controlling shareholder of the company, were successfully auctioned. Among them, the transfer registration of 19.22 million shares successfully auctioned has been completed.

According to the company's previous announcement, 30 million shares held by Wang Baixing have been auctioned from May 29 to 31 this year due to disputes over stock pledge financing business.

All can be viewed after purchase

This week, the northwest cement market is dominated by stable prices. Shaanxi Guanzhong pushed up gradually, and some enterprises in Ningxia tentatively raised prices.