changed from submersible equipment to photovoltaic modules, and the main business of *ST Zhongshu (300526) is astonishingly "cross-border". The company disclosed an announcement last night, intending to change the company's business scope and engage in the "tide" of new energy.
*ST Zhongqian admitted that since its establishment, the company has been engaged in the research, development, production and sales of equipment suitable for water-bearing activities for all types of people. Since the beginning of 2020, the new crown epidemic has caused a major impact on the outdoor products and the global tourism industry. The company's business has been seriously affected and sales orders have been greatly reduced. Against this background, the parent company of the listed company has closed all production lines of diving suits and dissolved all employees of the production line, and successively disposed of relevant land use rights and building ownership. Since 2021, the parent company of the listed company has not carried out production activities.
The company's diving equipment products related orders have shrunk significantly, and it faces great operating pressure and difficulties. In order to enhance its sustainable operation capabilities, the company actively transforms its business and looks for new business growth points.
The announcement disclosed by the company last night showed a hint of determination. As of the end of the first half of 2022, the company's cash balance was 8.4919 million yuan. The company borrowed money from natural person Zhang Zhendong with real estate mortgage, and received 18 million yuan on July 15, 2022. On the day of the arrival, the company transferred all the funds as capital increase funds to its wholly-owned subsidiary Jiangsu Ruizhi Zhonghe; on August 10, 2022, the company transferred all 25 million yuan as capital increase funds to its Jiangsu Ruizhi Zhonghe, and the remaining 7 million yuan was used for the company's daily operations and capital turnover.
public information shows that Jiangsu Ruizhi Zhonghe was established in August 2021 and is mainly engaged in the research, development, design and manufacturing of photovoltaic fixed bracket and tracking bracket system, as well as distributed power station EPC business. As of the date of disclosure of the announcement, Ruizhi Zhonghe has signed a photovoltaic bracket business contract of RMB 86.9388 million (approximately 0.35GW). Ruizhi Zhonghe has invested in production equipment at present of approximately RMB 11 million, and has the production capacity and delivery capacity required in the above contract.
"Although Jiangsu Ruizhi Zhonghe has not been established for a long time, it has strong technical capabilities." Relevant staff from *ST Zhongqian Secretary's Office told reporters that the core members of the team are all from China's earliest tracking bracket research and development team, and have dozens of invention patents and more than 50 new utility patents.
Ruizhi Zhonghe has been included in the scope of the company's financial statements since July 2022. "The amount of the contract of more than 80 million yuan signed by (Ruizhi Zhonghe) will be reflected in the third quarter and annual reports, and the non-standard problems of the company's audit are also being resolved. At that time, the application for "going to *ST" will be submitted depending on the situation." The above-mentioned staff member revealed.
At the same time, the company emphasized in the announcement that the change in business scope is a prudent decision based on the actual situation of the company's business development and strategic needs. The company is currently actively promoting the development of related businesses, and there is no situation of catering to market hotspots or speculating on the company's stock price. The company is still in a critical period of business transformation and there is a risk of investment failure.
However, in addition to operating pressure, *ST Zhongkuan inflated operating profits at that time involved false statements and would also be litigated by investors. According to the " Securities Law " and relevant judicial interpretations, lawyers from Shanghai Xinben Law Firm Zhao Jingguo remind that any damaged investors who buy *ST Zhongkuang from March 13, 2020 to October 20, 2020 and still hold stocks at the close of October 20, 2020 can register through the public account "Market Securities News" (character code: 8888) to participate in the litigation.
