Heterogeneous Upstart Is Too Busy: Plan to Raise 939 Million, Vice President Resigns, CSRC Punishes

2023-12-19 18:24:13

As of December 19th, the company rose more than 16%.

On December 18, heterojunction upstart King Kong billion, 500 million, terminated, another 939 million." On the evening of

the 18th, the company issued a notice. It is proposed to issue no more than 64.8 million shares to Ouhao Group, the controlling shareholder of the company, at a price of 14.49 yuan per share, and raise no more than 9

. Ouhao Group and its concerted actors hold a total of 25.01% of the company's shares, and Zhang Dongliang directly and indirectly holds a total of 73

. Ou Hao Group and the persons acting in concert with it hold the Company in total 42.

" In fact, In the two years after Ouhao Group and its actual controller Zhang Dongliang took over the "mess" of King Kong Glass in 2021, Ouhao Group, as the controlling shareholder, has become the "blood bank" of King Kong Photovoltaic in the eyes of the outside world, constantly transfusing blood to this enterprise which has transformed from the glass industry to the heterojunction field. In May

this year, King Kong Photovoltaic announced that it would issue shares to Ouhao Group and raise 2 billion yuan for the construction of 4.8 GW high-efficiency heterojunction batteries and 1.

The amount raised has shrunk from 2 billion to 5-10.

In the previous article " that after more than a month, Jingang Photovoltaic has made a comeback with a new fund-raising plan, and the issuing target is still Ouhao Group.".

It is worth noting that the blood transfusion of Ouhao Group not only exists in the aspect of raising funds, but by the end of November, all the shares of Jingang Photovoltaic held by Ouhao Group have been pledged 100%.

Its subsidiaries, such as Ouhao New Energy Power (Gansu) Co., Ltd., are also in the state of mortgage.

Source: Oriental Wealth Network choice Data

So, How Short of Money Is King Kong Photovoltaic?

At the same time, since the fourth quarter of 2021, the company began to lose money continuously, and has not yet turned losses into profits.

Organizations predict that in the whole year of 2023, the company's revenue will be between 257 million and 385 million, and its net return to its mother will be between-208 million and-1.

Jingang Photovoltaic also announced that Jiang Wanchang, director and deputy general manager of the company, had submitted to the board of directors of the company for personal reasons to resign as director, member of the special committees of the board of directors and deputy general manager, and would not hold any position in the company after his resignation. At the same time, the company elected Sun Shuang as a non-independent director .

According to the company's previous announcement, Jiang Wanchang just elected candidates for non-independent directors of the seventh board of directors and members of the strategic committee of the board of directors in June this year.

Source: Company Announcement

According to Digital New Energy DataBM.

In April this year, Gong Jiangfeng, an independent director of the company, resigned;

In June, Yan Chunlai, a director, a member of the special committees of the board of directors and the general manager, resigned. On the same day, the company elected Jiang Wanchang as a non-independent director candidate of the seventh board of directors and a member of the strategic committee of the board of directors.

In July, the company again announced the resignation of supervisor Zhao Zhongkui.

Personnel changes can already be called frequent.

On December 18, according to the official website of Securities Star, Jingang Photovoltaic was taken regulatory measures by Gansu Regulatory Bureau of China Securities Regulatory Commission for failing to perform other duties in accordance with the law.

According to the announcement," The Gansu Regulatory Bureau requires the company to submit a rectification report to the Gansu Regulatory Bureau of the China Securities Regulatory Commission within 30 days from the date of receipt of the regulatory letter.

In fact, Digital New Energy DataBM.

In 2018, the company was repeatedly punished by Guangdong Regulatory Bureau and Shenzhen Stock Exchange for failing to disclose information such as freezing of shares and pledge of shares of shareholders holding more than 5% of the shares.

In 2020, the company was punished by the Guangdong Regulatory Bureau for false bookkeeping, forging time deposit contracts and fabricating interest collection methods to increase interest income, and the relevant personnel were banned from entering the market. In March of the same year, the company was again disposed of by Shenzhen Stock Exchange because of the large amount of funds occupied by illegal letters and related parties and the large amount of non-trading capital transactions.

From 2021 to 2022, the above situation will continue to occur. In 2021, the company was dealt with by Shenzhen Stock Exchange in time due to major litigation matters; The following year, the company again because of 2.

Now, the financing is imminent, and the punishment is rising again, which is bound to have a negative impact on the future of King Kong Photovoltaic. In the eventful autumn, whether King Kong Photovoltaic can successfully complete the financing, digital new energy DataBM.

As of December 19, the closing price of King Kong Photovoltaic has increased by more than 16%.

All can be viewed after purchase
Correlation

The overall impact is roughly estimated to be about 30-40 million pieces.

2023-12-21 11:39:32

As of December 19th, the company rose more than 16%.

2023-12-19 18:24:13

One project was postponed for one year, and the other project was increased in capital.

2023-12-19 09:38:15

There are still two cases that have not yet been adjudicated in the first instance.

2023-12-18 09:16:25

The high-quality distributed asset resources accumulated by the company in China have reached GW level.

2023-12-13 09:24:42

Photovoltaic veterans also began to sell production lines.

2023-12-12 09:20:47

The installed capacity of the project is 1 MW, covering an area of 40 mu, and a total of 11200 blocks of perovskite photovoltaic modules are installed.

2023-12-04 10:32:52

As of November 30, the project has been put on record, and the approval procedures such as environmental assessment still need to be completed.

2023-11-30 09:13:16

Some illegal elements attempted to carry out business in the name of Datang Group Company by forging the platform named "China Datang Group Co., Ltd. Financing APP".

2023-11-08 10:18:56

Fifty enterprises were listed, of which five were related to the photovoltaic industry.

2023-10-30 09:31:47