572 million inventory has not been recovered, and more than 67 million deposits of Langqi in Guangzhou have been frozen again

On the evening of the 9th, Guangzhou Langqi issued a notice on the receipt of the civil ruling, saying that it had recently received the “civil ruling” and “list of frozen / sealed up and seized property” issued by the people’s Court of Tianhe District, Guangzhou. The applicant, Ligen Financial Leasing Co., Ltd. (hereinafter referred to as “Ligen company”) filed an application for property preservation to the Guangzhou Arbitration Commission of China, demanding the freezing of the company’s banks Deposit RMB 67.18 million or seal up or detain its equivalent property. Tianhe District People’s Court of Guangzhou has accepted the case and ruled to start implementation immediately. < / P > < p > according to the announcement, Guangzhou Langqi said that as of the disclosure date of this announcement, the actual limited amount of the above-mentioned frozen accounts totaled RMB 11.526 million, which had a certain impact on the company’s operation; the impact of the above-mentioned matters on the current or future profits of the company is still uncertain. The company has arranged relevant personnel to further verify the above freezing matters with the bank, the court and the Arbitration Commission as soon as possible, and has entrusted lawyers to handle the relevant matters. On the afternoon of September 27, Guangzhou Langqi issued a notice on the possible risks of some goods in stock, saying that the book value of the goods stored by the company and its subsidiaries in Ruili warehouse and Huifeng warehouse totaled 572 million yuan. According to the net profit of Guangzhou Langqi in 2019 of 62.37 million yuan, this batch of inventory is equivalent to its 9-year net profit. < p > < p > Guangzhou Langqi said that the company’s relevant personnel had been to Ruili warehouse and Huifeng warehouse for many times, but they could not normally carry out goods inventory and sampling inspection. On September 16, a reply letter from Huifeng Petrochemical Co., Ltd. was received, saying that it had never signed a warehousing contract with the company, and no goods were stored in Huifeng company, so it had no obligation to cooperate with the stock taking; Huifeng Petrochemical never issued the Huifeng inventory list in June 2020 to the company, and did not affix the seal of Huifeng company, and the seal on the inventory list was inconsistent with that of Huifeng company. In the announcement, Guangzhou Langqi also said that in view of Huifeng Petrochemical’s reply and Hongshen company’s no response, the company has set up an independent inventory inspection team, including external lawyers. On September 23 and 24, the inventory inspection team went to the two companies to investigate the relevant situation, and held talks with the legal representatives of the two companies. Both parties denied that they kept the goods stored by the company. In the evening of September 28, * ST Huifeng, the parent company of Huifeng Petrochemical Co., Ltd., issued a notice saying that in view of the above-mentioned incidents, the company made or altered the relevant seals of Huifeng company, signed storage contracts and issued other relevant documents. In order to safeguard the legitimate rights and interests of Huifeng petrochemical and the company, Huifeng Petrochemical is starting to report a case to the public security organ and request the public security organ to file a case for investigation 。 Later, on the evening of September 29, Guangzhou Langqi issued a supplementary announcement on the overdue debts and the possible risks of some inventory goods. According to the announcement, the company has transferred a person involved in the case to the public security organ, which has filed a case for investigation. The company will also protect the company’s rights and interests through litigation and other means. < p > < p > on the evening of September 24, Guangzhou Langqi announced that some debts were overdue due to the shortage of funds. In addition, 12 bank accounts of the company have been frozen, with a total fund balance of 2.5684 million yuan. In addition, after the close of business on September 22, Guangzhou Langqi issued the progress notice concerning arbitration, saying that China International Economic and Trade Arbitration Commission made an award on the case of Xingfa Hong Kong import and Export Co., Ltd. The implementation of the arbitration result may reduce the net profit of the company by 71.038 million yuan, and the specific amount affected shall be subject to the final audit result. In the secondary market, as of the end of October 9, Guangzhou Langqi closed up 0.24%, with an offer of 4.18 yuan, a record low, and a turnover of 125 million yuan, with the latest market value of only 2.623 billion yuan. Since the opening of trading on September 28, the stock price of Langqi in Guangzhou has dropped to the limit for three consecutive trading days, with a cumulative decline of 26.84%. The market value has shrunk by 1 billion yuan, affecting 36500 shareholders. According to the official website information, Guangzhou Langqi was founded in 1959, formerly known as Guangzhou hardening oil factory, and is one of the oldest washing products manufacturers in South China. At present, Langqi company has established a brand system with “Langqi” as its general brand and series of brands such as “gaofuli”, “Tianli”, “Wanli”, “weikeyi”, “Fuan”, “jienengjing” and “hibbo”. In terms of financial data, in the first half of the year, Guangzhou Langqi achieved a total operating revenue of 3.888 billion yuan, a year-on-year decrease of 43.36%; the net profit attributable to shareholders of listed companies was – 114 million yuan, which was 26.1494 million yuan in the same period of 2019. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. 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