Hainan Lianhan, a state-owned enterprise in Hainan, has acquired 5.0004% of Huawen Media Group's shares within three days, and has achieved holding; Huawen Media Group's stock price has been below 1 yuan/share for several consecutive days, and is currently in danger of delisting; over the past six years, Huawen Media Group's non-deductible net income reached a cumulative loss of 9 billion yuan.
Huawen media group (000793.SZ), which was facing delisting due to its stock price being below 1 yuan/share for several consecutive days, has welcomed its savior.
In the brief report on equity changes disclosed in the evening today, it was shown that Hainan Lianhan Investment Co., Ltd.(referred to as Hainan Lianhan) cumulatively bought 99.87 million shares of Huawen media group through centralized bidding from June 4 to June 6, 2024, accounting for 5.0004% of the total share capital of Huawen media group and constituted a holding. Hainan Lianhan bought stocks in the price range of 0.7 yuan-1 yuan/share, and the purchase amount was 78.5086 million yuan.
According to the announcement, Hainan Lianhan holds 100% equity of Hainan Lianhe Equity Investment Fund Management Co., Ltd., and Hainan Lianhan is a provincial state-owned sole proprietorship enterprise managed by the provincial state-owned asset supervision and administration commission of Hainan province. According to Tianyancha, besides Hainan Lianhan, Hainan United Asset Management Co., Ltd. has also invested in several other local enterprises in Hainan, including Sanya Nanguoshi Industry Co., Ltd. and Hainan Film Co., Ltd.
For Huawen media group, the significance of Hainan Lianhan's move is obvious.
On May 29th of this year, the closing price of Huawen media group was 0.98 yuan/share, which was lower than 1 yuan for the first time, and the company issued a warning that it may be delisted due to the stock price being less than 1 yuan. In the following three trading days, the stock price of Huawen media group continued to decline, with a drop of more than 20%. If this trend continues, the risk of delisting is quite high.
Since ****, the situation has changed, and the stock price of Huawen media group has started to rise sharply, welcoming two consecutive limit up trades. Huawen media group also issued an announcement on the evening of June 5th stating that there is no violation of fair disclosure of information in the stock price fluctuations.
In the brief report on equity changes, Hainan Lianhan also stated that, in addition to this equity change, there is a possibility of directly or indirectly increasing its shareholding in Huawen media group within the next 12 months. This may mean that Hainan Lianhan's 'rescue' measure for Huawen media group will continue, and whether or not the 'rescue' will be successful remains to be tested by the market.
However, for Huawen media group, in addition to worrying about delisting due to a low stock price, the company's operating situation is more worthy of attention. Huawen media group is mainly engaged in investment, development, management, and consulting services in the culture and media industry. The previous financial reports showed that since 2018, Huawen media group has incurred losses for 6 consecutive years, with a cumulative amount of more than 9 billion yuan. In the first quarter of this year, Huawen media group still incurred losses.
In addition, in April of this year, the Hainan Securities Regulatory Bureau also issued an administrative regulatory measure decision to Huawen media group, believing that Huawen media group has information disclosure issues and ordered it to rectify.
It is worth mentioning that the equity changes of Huawen media group have been relatively frequent. During the period from 2006 to 2017, the actual controller of Huawen media group had changed 10 times, and the historical actual controllers included National Radio and Television Administration Global Media Holdings Co., Ltd., Wuxi Binhu District State-owned Assets Management Committee, China International Broadcasting Network, etc.