Hidden mines explode!This big state-owned enterprise in Wuhan may have both people and money

2022-07-17 0 By

Product | in the wind, seec fengcaixun author | wen-li Chen edit | wang tingting is out of expectation, blu-ray development (600466. SH) sell dickon pharmaceutical, the dust has settled the equity transactions, but a year later emergent events.The affected founder is Wuhan’s first Shanghai-listed company “Hanshang Group” (600774.SH), once known as “China’s first commercial stock”.Hanshang, controlled by Hanyang State Assets Supervision and Administration No. 1, began to promote the transformation of “big health + big business” in 2019 after Zhuoer Holdings became a shareholder, and purchased Dikang Pharmaceutical in the following year.Phoenix net wind money note, February 9, blu-ray development added a preservation case.The subject is Sichuan Blu-ray Development Co., LTD., and the subject of frozen equity is Chengdu Dikang Pharmaceutical Co., LTD. (hereinafter referred to as “Dikang Pharmaceutical”), and the amount of frozen subject is 10,265,8577 million yuan.Paradoxically, Dikang Pharmaceutical was sold to Hanshang Group by Blu-ray Development as early as July 2020, and 100% equity change and payment of 900 million yuan were all completed in October of that year.Wang Yuchen, director of Beijing Golden Law Firm, said that in this case, the transferee (Hanshang Group) can Sue to protect its rights and interests, but it may also be “empty.”Moreover, at present, Hanshang Group is using the shell of Dikang Pharmaceutical to participate in the bankruptcy reorganization of Dongfang Pharmaceutical, and the crack of the “shell” may affect the development of hanshang Group and its shareholder Zhuoer Holding related pharmaceutical business.In July 2020, the liquidity crisis appeared in Blu-ray development at that time, Yang Keng decisively sold Dikang pharmaceutical to Hanshang Group, recouping 900 million yuan of capital.Three months later, on October 20, Hanshang Group announced that the shares of the target company had completed delivery.By the date of this announcement, the Company and HANshang Health have paid the transfer price of 100% equity of the target company to the counterparty.Blu-ray was briefly freed from debt, while Hanshang gained a sharp edge in the field of traditional Chinese medicine.Without the property preservation freeze, it would have been a quick and win-win deal.About 10.26 million yuan has been frozen in the case from Feb. 8, 2022 to Feb. 7, 2025, according to Qichacha.A legal person told the wind money news, the company is in the case of being pledged or external guarantee, as long as the pledgee or the creditor’s consent, the equity can be transferred.However, if problems occur during the period of pledge or guarantee, the transferee’s interests may be damaged.To this, Wang Yuchen expressed the same view.He told the wind money, if the pledge or guarantee in the former, the original equity seller (Blu-ray development) as long as the freeze problem is solved, then the rights of the transferee (Han Shang) can be guaranteed.If it can’t be resolved, the company can Sue, but it may lose both people and money.In short, if the pledge or guarantee comes first, the debt takes precedence over the equity.This also means that Hanshang Group has a nominal equity subordination relationship with Dikang Pharmaceutical, but has no substantial control over the corresponding equity of 10.26 million yuan frozen.It is worth mentioning that before being acquired, Dekang pharmaceutical was one of the major financing enhancement targets for the development of Blu-ray.How much of hanshang group’s 100 per cent stake in Dikang faces the possibility of collapse remains unknown.Han Merchants stepping into a minefield?After more than a year of thunderstorms, there is a glimmer of light in the blu-ray of development clouded by debt.On February 7, Blu-ray Development announced that at present, with the cooperation of professional intermediary agencies, the company has completed the inventory of assets and liabilities, and formed the embryonic form of risk mitigation plan.But according to its reply on the investor platform at the same time, Blu-ray’s debt restructuring plan is still in preparation, there is no substantive progress.According to the public data, as of December 31, 2021, the accumulative debt principal and interest of Blu-ray Development that failed to be repaid amounted to 27.739 billion yuan, including bank loans, trust loans, debt financing instruments and other debts.To make matters worse, Blu-ray development is heavily indebted and its access to financing is closing.On the eve of New Year’s Eve, Blu-ray Development received a serious warning from the dealers’ association and was suspended for 18 months from its debt-financing instrums-related business for reasons including self-financing and untruthful disclosure of bond issuance information.Given the current state of Blu-ray’s development, it seems unlikely that the debt crisis will be resolved any time soon.Another “seesaw war” dikang pharmaceutical equity thaw, or will be another “seesaw war”.However, dikang, which owns more than 20 kinds of Traditional Chinese medicine, is no light weight for Hanshang Group.Since 2019, Hanshang Group has comprehensively promoted the dual-wheel drive strategic transformation of “great Health + Great Business”.The acquisition of Dikang pharmaceutical is an important part of the strategy.On January 25, Hanshang Group announced that it would join With Dikang Pharmaceutical to participate in the bankruptcy restructuring of Oriental Pharmaceutical, one of the largest traditional Chinese medicine pharmaceutical enterprises in southwest China.In this regard, Hanshang Group said, such as successful restructuring, is conducive to the introduction of dikang pharmaceutical resources, to achieve the rapid growth of the company’s performance.In addition to the leading role of business coordination, more than 20 kinds of Chinese patent medicines owned by Dikang have also become the main profit contribution point of Hanshang.Hanshang Group released the 2021 annual performance pre-increase announcement shows that the annual net profit attributable to shareholders of listed companies is expected to increase by 86.87% to 102.26% year-on-year.The advance was mainly due to the merger to increase the full year profit of Dikang Pharmaceutical Company.How will Blu-ray Development and Hanshang Group respond to the freezing of Dikang Pharmaceutical?Wind money news will continue to follow.Copyright | IFeng.com real estate fortune news prohibit copying/washing/mirror/excerpt, reprint can leave a message