(CCTV Finance "Trading time" column)Nestling Eagle Agriculture and Animal Husbandry, once known as "the first share of raising pigs in China", was decided by the Shenzhen Stock Exchange to terminate its listing, which means that the company's 9-year capital market career has officially come to an end. How is the crisis of agriculture and animal husbandry caused by baby eagles, and how should investors recover their losses?
Young Eagle Agriculture and Animal Husbandry was founded in 1988, the core business includes pig breeding, grain trade, the Internet three major plates. The company was listed on the Shenzhen Stock Exchange in September 2010. it is the first small and medium-sized board listed company in China whose main business is pig breeding and sales.
The crisis of farming and animal husbandry of baby eagles began in the second half of 2018. In June of that year, many media published articles questioning that Eagle farming and animal husbandry was suspected of serious financial fraud. subsequently, Eagle farming and animal husbandry also fell into eddies such as credit rating downgrade, sharp decline in cash flow of business activities, tight cash flow, and external guarantee risks. The company reported a loss of 775 million yuan in 2018 and expanded to 3.86 billion in its annual report in 2018, according to the data. This year, the performance of agriculture and animal husbandry of the baby eagle has not improved, with a loss of 1.1 billion yuan in the first quarter.
Hu Yu, general manager of the investment business department of Hualin Securities: in the final analysis, it has not done a good job in the main business. in the past few years, it has done some other business other than this non-main business, including e-sports and the Internet. in fact, it is a kind of transfer of benefits, or it has done some transfer of benefits for its major shareholders, so it has led to this kind of listed companies and become a platform for money circle.
Since the second half of 2018, the company has received many letters of concern and inquiries from Shenzhen Stock Exchange. On January 31 this year, Young Eagle Agriculture and Animal Husbandry revised its 2018 performance forecast from-1.7 billion yuan to-1.5 billion yuan, down to-3.3 billion yuan to-2.9 billion yuan. In this regard, the Shenzhen Stock Exchange sent a letter of concern to Eagle Agriculture and Animal Husbandry, demanding to explain the specific reasons and rationality of the sharp decline in the unit price of live pigs sold by the company.
Explain the reasons and rationality of the company's centralized provision for impairment of all kinds of assets in 2018, pointing directly to whether the company has a performance "bath" situation. In addition, Young Eagle Agriculture and Animal Husbandry received a "notice of investigation" from the China Securities Regulatory Commission on March 18 this year. Because the company was suspected of violating the law and regulations, the CSRC filed a case for investigation.
As of the evening of August 19, the company had not received any concluding observations or decisions on the above-mentioned filing and investigation matters. Data show that as of the end of the first quarter of this year, the number of fledgling eagle agricultural and animal husbandry shareholders is 184200. The fledgling Eagle farming and Animal Husbandry was decided by the Shenzhen Stock Exchange to terminate the listing, which will be a huge negative for the company's shareholders.
Jin Yan, a lawyer at Guangdong Oriental Jinyuan Law firm: after a week, after the resumption of trading, there will be a delisting period of 30 trading days, during which investors can sell the stock. After 30 trading days, the stock will be officially delisted, but delisting does not mean that it does not bear the legal liability for compensation accordingly. Because at present, the China Securities Regulatory Commission is already conducting an investigation into whether to file a case, and if it is decided to file a case, there may even be a written decision on administrative penalty, so if the relevant small and medium-sized investors buy during the period, they can still rely on the administrative penalty decision of the CSRC to go to the Intermediate people's Court where the listed company is located and file a lawsuit against corresponding securities claims to recover their legal rights and losses.
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