of delisting is coming, and the state-owned major shareholders of Yatai Group are in an emergency. On the evening
of June 30, Yatai Group announced that Changchun SASAC designated Changchun City Development Investment Holding (Group) Co., Ltd. (Hereinafter referred to as "Changfa Group") as the main body to increase its shares through centralized bidding transactions on the Shanghai Stock Exchange with its own funds. The amount of increase is not less than 1.
Changchun SASAC is the controlling shareholder of Yatai Group. At present, it holds Yatai Group together with Changfa Group. 12.
Behind the plan of the major shareholders of state-owned assets to increase their holdings, Yatai Group's share price falls below 1 yuan and faces the risk of delisting.
Yatai Group is a diversified enterprise involved in real estate, cement, medicine, commerce and other industries, but industrial diversification has not significantly enhanced the company's profitability. In recent years, the company's real estate, building materials and other business operations are under pressure, making the company's operating performance data not very good.
Wind data show that in the 19 years from 1995 to 2023, Yatai Group has accumulated a loss of about 3 billion yuan.
Yatai Group is under great financial pressure. By the end of 2023, the company's asset-liability ratio reached 84.72%, and the financial cost in that year was as high as 20.
The major shareholders of state-owned assets launched the delisting defense
war, which launched the delisting defense war of Yatai Group.
According to the latest announcement, Changchun SASAC designated Changfa Group, which performs the responsibilities of investors, as the main body, to increase the company's shares through centralized bidding transactions on the Shanghai Stock Exchange with its own funds. The increase amount is not less than 1. The increase price is not more than the company's net assets per share in the first quarter of 2024. 1.
Changchun SASAC is the major shareholder of Yatai Group and the controlling shareholder of Changfa Group. At present, Changchun SASAC holds about 295 million shares of Yatai Group, accounting for 9.08% of the company's total equity; Changfa Group holds approximately 110 million shares of the Company, accounting for 3.38% of the total share capital of the Company. 12.
Changchun SASAC and Changfa Group undertake not to reduce their shareholdings in the Company during the implementation of the shareholding increase plan and within the statutory period. Behind the increase of
major shareholders, Yatai Group's share price has fallen below 1 yuan.
The K-line chart shows that on June 20, the closing price of Yatai Group was 0. On June 28, the closing price of the company was 0.
In addition to the major shareholders taking out real gold and silver to increase their holdings, on June 30, Yatai Group also received a letter of commitment from shareholders not to reduce their holdings. Shareholder Jilin Jinta Investment Co., Ltd. (Hereinafter referred to as "Jinta Investment") promises not to reduce its shares in any way within 12 months from July 1 this year to July 1, 2025. During the above commitment period, Jinta Investment will also comply with the above commitment not to reduce its holdings of new shares due to the conversion of capital reserve into share capital, the distribution of stock dividends, the allotment of shares, the issuance of additional shares and other reasons. The main shareholders
of Jinta Investment are senior managers of Yatai Group, members of its enterprise team (middle-level headquarters) and core backbone managers. As of the disclosure date of the announcement, Jinta Investment holds 155 million shares of Yatai Group, accounting for 4 of the company's total equity.
Yatai Group itself is also trying to "protect the market". On the evening of June 26, the company announced that it planned to use its own funds to repurchase the company's shares by means of centralized bidding transactions, with the repurchase amount not less than 30 million yuan and not more than 50 million yuan, and the repurchase price not exceeding 1.
Major shareholders increase their holdings, the company repurchases itself, and the main executives and key personnel indirectly promise not to reduce their holdings. With multi-way efforts, the defense war against the delisting risk of Yatai Group has begun.
On July 1, stimulated by the above positive factors, Yatai Group's share price rose and stopped at the opening, with an increase of 10.59%, closing at 0.
The two sectors dragged down the net profit and three consecutive losses
. Yatai Group's delisting defense battle began, while the company's operation is still in trouble and needs to be extricated urgently. In the
first quarter of this year, Yatai Group realized an operating income of RMB 1.001 billion, a year-on-year decrease of 37.79%; the net profit attributable to the shareholders of the parent company (hereinafter referred to as the "net profit") was RMB -516 million, a year-on-year loss of 0.
In the past three years, Yatai Group continued to suffer losses. Specifically, from 2021 to 2023, the company realized business income of 19.653 billion yuan, 12.968 billion yuan and 9.252 billion yuan respectively, with a year-on-year change of 0.80%, -34.02% and -28.65%; The net profit was -1.254 billion yuan, -3.430 billion yuan and -3.947 billion yuan, with substantial losses for three consecutive years and a total loss
for three years. Yatai Group has formed a business development pattern with building materials group, real estate group, pharmaceutical group, financial investment, e-commerce and commercial operation as the core. The
company's layout, there is no lack of acquisitions. According to the Wind system, Yatai Group has successively acquired Jiamusi Hongji Group Co., Ltd., Jinyuan Cement , Yatai Biopharmaceutical Co., Ltd., Yatai Star Pharmaceutical Co., Ltd., Beibu Gulf Company, < a href = "There is no shortage of https://price.ccement.com/brandnewslist-1-1000383.
acquisitions commanding high premiums and generating significant goodwill.". At the end of 2014, Yatai Group's business reputation was 16.
Industrial diversification, and real estate, cement and building materials were in the field of heavy assets, which exerted obvious pressure on Yatai Group's operation and finance. In
2023, Yatai Group explained the reasons for the company's operating losses, saying that the cement market demand was weak and competition intensified. Cement, < a href = "https://price.ccement.com/Price_list-1-s0-e0-p0-c0-k100059-b0." In order to ensure the stability of cash flow, the company speeds up the return of cash by pre-selling cement, clinker and real estate promotion to inventory. As a result, the main business revenue and profit declined.
In that year, the company made a provision for impairment of assets of 1.772 billion yuan, including 176 million yuan for credit impairment loss of receivables, 469 million yuan for inventory depreciation, 530 million yuan for impairment of other current assets of Tianjin Land Consolidation Project and 5.
Yatai Group's profitability is weak as a whole. From 2015 to 2020, except for the net profit of 8.
Wind data in 2017, Yatai Group achieved a cumulative net profit of-3 billion yuan from 1995 to 2023.
Yatai Group is under great financial pressure. By the end of 2023, the company's asset-liability ratio was 84.72%; at the end of the period, the company's monetary capital was 738 million yuan, and interest-bearing liabilities were 277.
From 2019 to 2023, the company's annual financial costs were around 2 billion yuan.
Original Title: Yatai Group's Cumulative Loss of 3 Billion, Debt Ratio Exceeds 84%, Share Price Falls Below 1 yuan, Major Shareholders Urgently Increase Holdings to Protect the Market
