On the evening of June 26, Tianlong Optoelectronics issued an announcement stating that the company decided to terminate the planning of major restructuring matters, and the stock resumed trading today. This also means that Tianlong Optoelectronics' plan to improve the company's operations through restructuring and absorbing high-quality assets has failed.
Regarding the reasons for the termination of the reorganization, Tianlong Optoelectronics said that due to the fact that this major asset reorganization involves a wide range of assets and many links, it involves a large number of coordination, negotiation and confirmation work including the plan and valuation. The details of the plan are discussed, demonstrated and improved. The time required is longer. In view of the fact that some relevant conditions are not yet mature and the standard for completing major restructuring within the time specified in the regulations has not been met, the company decided to terminate the planning of major restructuring matters.
It is understood that the main plan for Tianlong Optoelectronics to plan asset restructuring is to issue additional shares to the existing shareholders of Dalian Liancheng CNC Machine Co., Ltd. and acquire 100% of the shares in Dalian Liancheng. The reorganization of Tianlong Optoelectronics is considered a "self-help" behavior. In fact, this argument is not without reason.
Affected by the industry, Tianlong Optoelectronics is currently in a difficult position to survive: In 2012, Tianlong Optoelectronics handed over a transcript with a net profit loss of 511 million yuan to investors. This year, the company’s losses are still continuing. The quarterly loss amounted to 10.63 million yuan, and “self-help†seems to have been forced. For the purpose of this restructuring, Tianlong Optoelectronics also clearly stated that "the company intends to absorb high-quality assets with considerable profitability through major asset restructuring and enhance the profitability of listed companies." However, it turned out to be counterproductive. Since the suspension of the plan on June 6th, it has only been 20 days since the reorganization, and the plan has announced abortion.
"Tianlong Optoelectronics is facing a more severe situation. Under the circumstances that the EU is determined to impose 'double reverse' tariffs on Chinese PV products, it is difficult to achieve profitability based on the company's current business," analysts said.
In fact, under the double-strength of overcapacity and trade friction, Suntech Power and Jiangxi Saiwei, the two giants in the domestic PV industry, have fallen into a survival crisis due to debt default. The living environment of photovoltaic enterprises will undoubtedly face a more serious test. It is reported that after the European Commission ruled that the anti-dumping duty of 11.8% on Chinese PV products will be imposed on June 6th, China is negotiating with the EU. If the agreement cannot be reached, the high penalty rate of 47.6% will impact the upstream and downstream industries of China. chain.
For the trend after Tianlong Optoelectronics resumed trading, some analysts believe that “the stock price should be down without any surprise. On the one hand, the termination of the restructuring itself is a bad news for the market; on the other hand, during its suspension, A shares The overall market is weak, the stock index has fallen sharply, and it is inevitable that there will be a replenishment."
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Regarding the reasons for the termination of the reorganization, Tianlong Optoelectronics said that due to the fact that this major asset reorganization involves a wide range of assets and many links, it involves a large number of coordination, negotiation and confirmation work including the plan and valuation. The details of the plan are discussed, demonstrated and improved. The time required is longer. In view of the fact that some relevant conditions are not yet mature and the standard for completing major restructuring within the time specified in the regulations has not been met, the company decided to terminate the planning of major restructuring matters.
It is understood that the main plan for Tianlong Optoelectronics to plan asset restructuring is to issue additional shares to the existing shareholders of Dalian Liancheng CNC Machine Co., Ltd. and acquire 100% of the shares in Dalian Liancheng. The reorganization of Tianlong Optoelectronics is considered a "self-help" behavior. In fact, this argument is not without reason.
Affected by the industry, Tianlong Optoelectronics is currently in a difficult position to survive: In 2012, Tianlong Optoelectronics handed over a transcript with a net profit loss of 511 million yuan to investors. This year, the company’s losses are still continuing. The quarterly loss amounted to 10.63 million yuan, and “self-help†seems to have been forced. For the purpose of this restructuring, Tianlong Optoelectronics also clearly stated that "the company intends to absorb high-quality assets with considerable profitability through major asset restructuring and enhance the profitability of listed companies." However, it turned out to be counterproductive. Since the suspension of the plan on June 6th, it has only been 20 days since the reorganization, and the plan has announced abortion.
"Tianlong Optoelectronics is facing a more severe situation. Under the circumstances that the EU is determined to impose 'double reverse' tariffs on Chinese PV products, it is difficult to achieve profitability based on the company's current business," analysts said.
In fact, under the double-strength of overcapacity and trade friction, Suntech Power and Jiangxi Saiwei, the two giants in the domestic PV industry, have fallen into a survival crisis due to debt default. The living environment of photovoltaic enterprises will undoubtedly face a more serious test. It is reported that after the European Commission ruled that the anti-dumping duty of 11.8% on Chinese PV products will be imposed on June 6th, China is negotiating with the EU. If the agreement cannot be reached, the high penalty rate of 47.6% will impact the upstream and downstream industries of China. chain.
For the trend after Tianlong Optoelectronics resumed trading, some analysts believe that “the stock price should be down without any surprise. On the one hand, the termination of the restructuring itself is a bad news for the market; on the other hand, during its suspension, A shares The overall market is weak, the stock index has fallen sharply, and it is inevitable that there will be a replenishment."
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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