Continued losses! Zhongli Group will be reorganized!

2023-08-22 09:09:56

Continuous losses, can this reorganization save itself?

On the evening of August

21, Jiangsu Zhongli Group Co., Ltd. (Hereinafter referred to as "Zhongli Group") issued several announcements. According to the semi-annual report of 2023

released by the company, in the first half of this year, Zhongli Group achieved a revenue of 2.194 billion yuan, a year-on-year decrease of 52.99%, a net profit loss of 239 million yuan, a year-on-year decrease of 82.24%, and a net profit loss of 204 million yuan, an increase of 25.68%; Basic earnings per share loss was 0.27 yuan, down 80% year on year.

As for the reasons for the decline in revenue, Zhongli Group said that on the one hand, after the disposal of the shares of Guangdong Zhongde Atomic Company, it was no longer consolidated during the reporting period, and the revenue decreased compared with the same period last year; on the other hand, the company's operating funds continued to be tight, on the one hand, the company's business volume was passively reduced, and the production capacity could not be released; On the other hand, the proportion of OEM in photovoltaic business increased and revenue decreased.

Since 2018, Zhongli Group has been deeply involved in the loss whirlpool. Unfortunately, the company has been plagued by all kinds of negative news (for details, please click on " executive resignation, bankruptcy, debt collection, 12 lawsuits in 7 months!"! This photovoltaic enterprise is in a negative situation.

On that day, in addition to issuing the semi-annual report, Zhongli Group also issued the announcement of the Restructuring Investment (Intention) Agreement signed by the two companies.

The announcement shows that the company has signed the Restructuring Investment (Intention) Agreement with Changshu Guangsheng New Energy Co., Ltd. and Shenzhen Yangzi Chengxin Investment Co., Ltd.

According to the data, Changshu Guangsheng New Energy Co., Ltd. was established on August 18 this year, covering the manufacturing of photovoltaic equipment and components, sales of solar power generation equipment and so on. Its holding company is Xiamen Jianfa Co., Ltd. Construction and Development Co., Ltd. is the core member of Xiamen Construction and Development Group Co., Ltd. and is a local state-owned enterprise in Xiamen.

At the same time, in the announcement, Zhongli Group publicized the progress nodes of the company's application for reorganization and pre-reorganization.

On January 18 this year, the company learned that the creditor, Jiangsu Xinyi Decoration Engineering Co., Ltd., submitted an application for reorganization and pre-reorganization of the company to the Intermediate People's Court of Suzhou City, Jiangsu Province, on the grounds that the company could not pay off its debts due and had obvious lack of solvency, but had the value of reorganization.

On February 6, the Company received the Notice [ (2023) Su 05 Po Shen No.1] from the Suzhou Intermediate People's Court, which reviewed the creditor's application for reorganization of the Company on January 29, 2023.

On February 4, the company received the Decision served by the Suzhou Intermediate Court, which decided to start the pre-reorganization procedure of the company and appointed the liquidation team of Jiangsu Zhongli Group Co., Ltd. as the temporary administrator of the company.

On March 6, the temporary administrator invited qualified appraisal institutions to participate in the bidding, and finally confirmed that the appraisal institution was Beijing Tianjian Xingye Asset Appraisal Co., Ltd.

On March 17, the temporary administrator selected financial consultants through public recruitment and on-site evaluation, and finally determined that the financial advisory body was Huatai United Securities Co., Ltd. and the alternative financial advisory body was Shen Wanhongyuan Securities Underwriting Sponsor Co., Ltd.

On March 24, the Company disclosed the Announcement on Public Recruitment and Selection of Restructuring Investors (Announcement No.: 2023-036).

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