Rendong holding’s cash flow is in a hurry and asks the bank to borrow the new to repay the old

On December 17, Rendong holding (002647), a second-class skid maker, again released a huge amount of money, with a turnover of 2.784 billion yuan. Rendong holdings announced on the evening of December 17 that the company’s working capital was tight, so the principal of the 350 million short-term loan of industrial bank failed to repay as scheduled. Up to now, the company has repaid 80 million yuan one by one. At present, the company plans to apply to the Industrial Bank for a renewal of the loan of 270 million yuan with a credit term of one year to repay the above loan. < / P > < p > the previous 15 limits made investors of Rendong holding suffer heavy losses. After twice prying the board this week, as early as October this year, a 350 million yuan overdue loan exposed the crisis of capital situation of Rendong holdings, which has a follow-up. < p > < p > on October 29 this year, Rendong holdings, which had a market value of more than 30 billion at that time, made a sudden announcement, saying that the company’s 350 million short-term loan principal could not be repaid as scheduled. According to the company, in October 2019, industrial bank issued a total of 350 million yuan in five loans to the company with a term of one year. Covid-19 has applied for loan renewal in advance to the Industrial Bank on the loan, and has consulted on the renewal loan. Because the company has not yet fully implemented the renewal loan conditions approved by the Bank of state for its current business, and this year, due to the macroeconomic environment and the new crown epidemic situation, the company’s liquidity is relatively tight, so the short term loan principal of the Industrial Bank of Hong Kong has not been paid in due course. The situation of the loan is not yet met. The company has not yet fully implemented the loan renewal policy. < / P > < p > after the announcement, Shenzhen stock exchange quickly inquired about the specific reasons for the overdue of 350 million short-term loans. Because according to the third quarterly report of this year, there are still 1.5 billion monetary funds on the final account of Rendong holdings. < / P > < p > at that time, Rendong holdings replied and explained that the company applied to Beijing Branch of Industrial Bank for a loan of 350 million in October 2019, with a term of one year. Beijing Rendong Information Technology Co., Ltd., the major shareholder, pledged 9.16833 million shares of the company held by it to industrial bank as a guarantee, and its subsidiary Guangdong Heli financial technology services Co., Ltd. and chairman Huo Dong, etc. provided a guarantee for the loan The collateral and guarantee measures provided by all parties for this loan are enough to cover the principal of the loan.

Ren Dong Holdings covid-19 said that there were three main reasons for overdue loans. In recent years, the company has actively promoted industrial restructuring and diversified financial business, and invested more capital in operation. This year, the company has been affected by the macroeconomic environment and new crown disease, resulting in a relatively short term liquidity. At the same time, the company has 1 billion 500 million guarantees for the company. Up to now, the court has not yet ruled on the litigation dispute, which has a bad impact on the company’s credit and affects the company’s financing to a certain extent. In addition, the company has applied to the Industrial Bank for renewal of the loan in a timely manner in the early stage, and negotiated on the renewal matters. As the company has not yet fully implemented the renewal conditions approved by the Industrial Bank, the principal of the 350 million short-term loan of the industrial bank failed to meet the requirements The situation of repayment in advance. However, from the end of October, the share price of Rendong holdings continued to rise, reaching a record high of 64.72 yuan from October 29 to November 20, with a range increase of 8%. < / P > < p > since November 20, Rendong holdings, which has lost its state-owned assets custody, has opened a decline channel. On December 14, it has gained 14 drop limits, with a range decline of 78.58%. The share price has dropped from 64 yuan to 13.76 yuan, the market value has changed from 35.5 billion yuan to 7.7 billion yuan, and the market value of 27.8 billion yuan has completely evaporated. < / P > < p > on December 15, Rendong holdings opened with a drop limit, but then billions of yuan of bills poured in, instantly pulled Rendong holdings from the drop limit to the rise limit, and staged the “Tiandi board”. On that day, the turnover was 3.303 billion yuan, and the turnover rate was as high as 44.58%. < / P > < p > “tianban” is just a flash in the pan. Rendong holdings opened on December 16 and fell again. Investors who followed suit on the previous trading day were directly buried. By the end of the day, the share price was 13.63 yuan / share, with a turnover of 5.755 billion yuan and a turnover rate of 10.28%. < p > < p > on December 17, Rendong holdings was successful again. On the 17th, Rendong holdings opened its trading limit, opened its trading limit in the afternoon, and closed up 2.71%, with a turnover of 2.78 billion yuan. < p > < p > after hours dragon and tiger list shows that Everbright Securities Foshan Lvjing Road, which was bought by a large margin on the 15th, has successfully fled. On December 15, 39 seconds after the opening of Rendong holdings, the price limit was sealed by the limit. On the same day, Everbright Securities Foshan Lvjing Road business department net bought 359 million yuan, ranking first in the dragon and tiger list. On December 16, Rendong Holdings Limited, Everbright Securities Foshan Lvjing Road Sales Department net sold 27.2355 million yuan. With the net sales of 332 million yuan on December 17, the business department’s purchases on Tuesday have all fled. < / P > < p > up to now, the latest total market value of Rendong holdings is 7.8 billion yuan. So far, in 17 trading days, Rendong Holdings has gained a total of 15 drop limits, with a cumulative decline of 77%. Its market value has evaporated more than 30 billion yuan from the highest point. The company’s board of directors agreed to apply to Industrial Bank for a renewal of 270 million yuan, with a credit term of one year, the company announced on the evening of the 17th. At the same time, the chairman / legal representative of the company is authorized to handle the above credit matters and sign relevant contract documents. < / P > < p > according to the announcement, the repayment schedule is to return 90 million yuan per month in June, July and August 2021. The company’s subsidiaries, Guangdong Heli, helibao, Shenzhen Qianhai Heli commercial factoring Co., Ltd., Guangzhou Rendong Internet micro loan Co., Ltd. and Huodong, the actual controller of the company, intend to provide joint and several liability guarantee for the above loans. The factoring company will use the cash inflow generated by a customer’s factoring business with an amount of 154 million yuan as the supplementary repayment source and pledge guarantee for small loans The company will give priority to repay the loan with the cash inflow from 36801 customers with the amount of 37589500 yuan. < p > < p > and Rendong information, the controlling shareholder of Rendong, continues to pledge 9.16833 million shares of the company held by it to provide guarantee for the above loans. Up to now, Rendong Holdings has repaid 80 million yuan one by one. < / P > < p > in addition to this overdue loan, Rendong holdings also faces problems such as the pledge shares of the controlling shareholder will be forced to level, and the shares held by the controlling shareholder will be frozen by the judiciary. < / P > < p > in addition, on December 14, Rendong holdings received a letter of concern, and the Shenzhen Stock Exchange questioned the company’s executives’ “trading” in the company’s stocks. So far, Rendong Holdings has not replied to this. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. 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