Source: Zhejiang Zhisheng Zhang Xiuqing, Chongqing Business Daily
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html in time. From April 13 to April 14, a batch of jade bracelets from Guoding Gold Co., Ltd. will be auctioned on the Alibaba Auction Bankruptcy Strong Clearing Platform. The starting price is 223,040 yuan. The supervision unit is the Hangzhou Intermediate People's Court.It is understood that Guoding Gold Co., Ltd. is a subsidiary of A-share listed company Gangtai Holdings (*ST Gangtai 600687). Gangtai Holdings was delisted from the Shanghai Stock Exchange on March 3 this year.
This auction is a bankruptcy liquidation auction for Guoding Gold Co., Ltd.
Previously, Guoding Gold Co., Ltd. gold and silver coins and other products had been auctioned in 19 batches, with a transaction volume of 53.986627 million yuan. In addition, jade and other items were waiting for price reduction to be auctioned again.
Gold and silver coins were robbed for the previous transaction.
A batch of jade bracelets for Guoding Gold Co., Ltd. were auctioned this time, with a total of 410 jade bracelets, with a unit price of 680 yuan, an appraisal price of 278,800 yuan, a starting price of 223,040 yuan, a 20% discount on the appraisal price and a margin of 20,000 yuan.
According to the introduction, some of these products are old and do not guarantee the product quality.
Some products have packaging boxes but are damaged, such as water inlet.
Since September last year, 19 batches of bankruptcy properties of Guoding Gold have been auctioned, with a total transaction price of 53.986627 million yuan and a total appraisal price of 61.506144 million yuan.
Among them, gold and silver coins are the big ones, with a transaction price of 50.0191.27 million yuan, and its assessed price is 51.3052.08 million yuan. The maximum bid for these 11 batches of gold and silver coins is 177 times, and the minimum bid is 25 times.
Others, 5 cars, the transaction price is 572,500 yuan, the appraised price is 340,950 yuan, the transaction price of the 2 jadeite batches is 1.9 million yuan, the appraised price is 7.738,26 million yuan, the transaction price of the 1 K gold batch is 1.495 million yuan, and the appraised price is 2.1167,76 million yuan.
reporter also learned that Guoding Gold Company has several batches of jadeite that have lost its bid, waiting for the price reduction to be auctioned again.
Guoding Gold claims annual sales of 2 billion yuan, and its headquarters is in Hangzhou
Tianyan Check data shows that Guoding Gold Company was established on July 7, 2009. Its registered address is on the 25th floor of Ruijing International Business Center, No. 198, Wuxing Road, , Jianggan District, Hangzhou City. The legal representative is Ruan Mengguo.
business scope includes wholesale and retail: gold and silver products, gold and silver jewelry, gold and silver commemorative coins, jewelry, jade, jade, arts and crafts; business and circulation of RMB; services: commissioned processing of gold and silver products, gold recycling, etc.
Guoding Gold Co., Ltd. has invested in 1 company with 4 branches.
The registered capital of the company is RMB 108 million, and its only shareholder is Gansu Daye Geological and Mining Co., Ltd. (Gansu Daye), which is ultimately wholly-owned by Gangtai Holdings.
Guoding Gold Co., Ltd.'s corporate website stated that the company was founded in September 2007 and is affiliated to the main board listed company "Gangtai Holding Group" (stock code: 600687.SH). It is one of the most powerful and resource advantages in the precious metal investment and collectibles industries in China. The company integrates R&D, production and sales. It is headquartered in Hangzhou, Zhejiang, with annual sales exceeding 2 billion yuan.
Guoding Gold is a comprehensive member of the Shanghai Gold Exchange, a franchise retailer of China Gold Association, a standing director unit of China Gold Group designated distributor, Shanghai Mint Co., Ltd. franchised distributor, and a director unit of the Zhejiang Federation of Industry and Commerce.
was filed for bankruptcy liquidation by the creditor's bank last year
According to the judgment document of the Hangzhou Intermediate People's Court, Guoding Gold Co., Ltd. failed to fulfill the effective judgment of (2019) Zhejiang 01 Minchu 1420, and could not repay the due debts, and the assets were not enough to repay all debts. In 2020, CITIC Bank Hangzhou Branch applied for compulsory execution to the Hangzhou Intermediate People's Court of Zhejiang Province. The subject of execution involved was RMB 62645,619.7 and the debt interest.
was finally determined by the Hangzhou Intermediate People's Court to have the reasons for its bankruptcy. The objection that Guoding Gold Co., Ltd. believes that its assets are greater than liabilities and does not have any legal basis and cannot be established, so it is not accepted.
The court finally ruled to accept the bankruptcy liquidation application of the applicant CITIC Bank Hangzhou Branch to the respondent Guoding Gold Co., Ltd.
■News background
"The first jewelry stock" There is a mine at home and it is useless to use
Daily eye check data shows that Gangtai Holdings (*ST Gangtai) has a registered capital of 1.49 billion yuan. It is a company registered in Lanzhou, Gansu and its office in Shanghai.
was listed on the Shanghai Stock Exchange in 1993, and was previously known as Xiamen Cathay, Cathay Pacific, Xinyu Software, and Huashengda .
In 2008, Gangtai Group was listed on the A-share market with a backdoor of Huashengda, and later renamed Gangtai Holdings. It completed its reorganization in 2013, and is known as the "first Internet jewelry stock". It mainly engages in gold mining business and the design, processing and sales of jewelry such as gold, diamonds, jade, and colored treasures. The company has the right to mine multiple gold mines in Gansu. It has brands such as Gangtai Gold, Guoding Gold, Kelan Diamond, and Milai Caibao.
In its main business, the sales revenue of gold jewelry, diamonds, jade and precious metal collections accounted for 71%, 15%, 10%, and 3.7% respectively.
From July 2014 to June 2015, the company's stock rose nearly 6 times in one year, exceeding 51 yuan per share, with a market value of 36 billion yuan. Before delisting on March 3 this year, the stock price was only 0.30 yuan.
Since 2018, *ST Gangtai has suffered losses for many years: a loss of 1.175 billion yuan in 2018 and a loss of 3.418 billion yuan in 2019. Even during the period of gold prices surge in 2020, the company's performance did not improve at all. In this regard, *ST Gangtai said that due to factors such as the company's illegal guarantee incident, some banks withdraw loans and cut loans, resulting in a large-scale reduction in the company's business.
The company suffered a loss of 625 million yuan in the first three quarters of 2020, and its net profit decreased by 85.99% year-on-year.
■Extended Reading
Gangtai Holdings acquired Guoding Gold
In 2014, Gangtai Holdings announced that it would spend 300 million yuan to acquire Guoding Gold Co., Ltd., thereby building a full gold industry chain.
According to reports, Gansu Daye, a wholly-owned subsidiary of Gangtai Holdings, acquired 100% of the equity of Guoding Gold Co., Ltd. held by Lin Kangfeng and Xu Caiqin in cash, with a price of 300 million yuan.
According to performance commitments, Guoding Gold's net profit from 2015 to 2017 will not be less than 120 million, 150 million and 180 million respectively. In addition, Lin Kangfeng and Xu Caiqin expressed optimism about the long-term development of Gangtai Holdings and agreed to purchase Gangtai Holdings' shares in full at a price of 80% of the equity acquisition in the secondary market at an overall average price of no more than 30 yuan per share within six months after the target equity is delivered to Daye Mining, and promise not to transfer within three years.
For the acquisition, Gangtai Holdings stated at the time that the company will use the business qualifications and franchise rights of Guoding Gold Co., Ltd. to create a full industrial chain integrating gold resource mining, gold jewelry and jade design, processing and sales, and gold art and culture.
Six years later, Guoding Gold Co., Ltd. was liquidated in bankruptcy.
Regarding the liquidation of the bankruptcy, Guoding Gold Co., Ltd. raised objections, saying: 1. The company is far from "insolvent". According to the balance sheet formulated by the company's financial department in accordance with the law, as of March 31, 2020, the company's assets totaled 1374.271 million yuan, the total liabilities were 1067.4265 million yuan, and the net assets were 306.8445 million yuan. The net assets were relatively large, and there was no obvious lack of repayment ability, and it was far from reaching the level of insolvency. 2. The claims of CITIC Bank Hangzhou Branch are enforceable. According to the civil judgment No. (2019) Zhejiang 01 Minchu No. 1420, the claims of CITIC Bank Hangzhou Branch are RMB 58218125.17. Comparing the company's net assets, the company's assets can fully fulfill their debt repayment obligations and disputes can be resolved through execution procedures. 3. The company is still carrying out business activities normally. The company currently has 22 employees, the organizational structure is streamlined and scientific, and the production, processing, sales and other business activities are carried out normally.
Guoding Gold Co., Ltd. does not have any situation where assets are insufficient to repay all debts or obviously lack the ability to repay, and does not meet the bankruptcy conditions stipulated by law. The court requests not to accept the bankruptcy liquidation application for Guoding Gold Co., Ltd.
After cross-examination, CITIC Bank Hangzhou Branch issued the following opinions: First, the authenticity of the balance sheet cannot be determined; Second, the real estate under the company's name has been auctioned; Third, all accounts of the company have been seized and the company has no cash flow; Fourth, the company's debts are heavy, and its total debts owed to each bank have reached more than 400 million yuan.
The court finally ruled that Guoding Gold Co., Ltd. would go bankrupt and liquidate in accordance with the law.
Source: Zhejiang Voice
