oceankingonlinerealmoneynodeposit| In just 4 months, *ST Cozhou's major asset reorganization has been stalled! The stock price fell by word, and the stock price fell by more than 40% from the high of the year.

It lasted only four months.Oceankingonlinerealmoneynodeposit, * ST Cocontinent (002052) significant asset restructuring was terminated, and the company's share price fell by the limit.

On the evening of May 20, * ST announced that it originally intended to issue shares and pay cash to buy Zhu Dan, Liu Mingxing and other 17 trading parties.OceankingonlinerealmoneynodepositReliable cloud 100% equity, at the same time to Tengxu Industrial shares to raise supporting funds. However, after many arguments and negotiations, the parties to the transaction believe that there is great uncertainty in continuing to promote this major asset restructuring at this stage. After careful study, the company and the parties to the transaction negotiated to terminate the transaction.

According to public information, reliant Cloud, founded in 2002, is an IDC and cloud computing service provider, providing customers with basic IT infrastructure services necessary for enterprises, such as network, computing, storage, and so on. Headquartered in Xiamen, Fujian Province, it currently has more than 500 employees.

In recent years, the overall performance of * ST in Tongzhou is not satisfactory, and the acquisition of reliable cloud is an important step in its transformation. Data show that from 2014 to 2023, * ST Cocontinent only achieved positive net profit in 2017, while the rest were losing money. In the first quarter of 2024 * ST continued to lose money on the same continent, with a net profit of-415 for the current period.Oceankingonlinerealmoneynodeposit.40,000 yuan.

At present, * ST has two major businesses in Tongzhou, one is the digital set-top box business, and the other is the new energy lithium-ion battery business, which has not brought much performance increment to the company. On the contrary, the company has built nearly 100 data centers around the world, forming marginal nodes and service systems covering major countries / regions such as Singapore, the Philippines, Vietnam, the United Arab Emirates, Germany, Brazil and South Africa, as well as Fuzhou, Shantou, Qingdao, Tianjin and other places, to achieve interconnection with China Telecom, China Mobile, China Unicom (600050) and other major operators.

In the past few years, taking advantage of the spring breeze of the computing industry, the cloud has developed rapidly. From 2022 to 2023, the operating income will be realized by the reliable cloud. 5.OceankingonlinerealmoneynodepositThe net profit was 47.2683 million yuan and 49.7999 million yuan respectively.

If * ST Co-continent will rely on cloud restructuring success, * ST Co-continent may have a good chance of bottoming out. It is also expected that after the disclosure of the restructuring plan on January 21 this year, * ST on the same continent received four consecutive trading limits.

However, due to the uncertainty of the deal and the company's own risk problems, * ST's rise on the same continent did not last long, with four trading limits followed by seven falling limits. So far, * ST shares are down more than 40 per cent from their highs this year at Rmb1.47 per share.

It is worth noting that * ST Cocontinent reported for audit in 2023, and the accountant issued an unqualified opinion audit report with significant uncertainty and emphasis on ongoing operations.

According to the audit report, Tongzhou Electronics (002052) has suffered losses for many years since 2018, with a net loss of 82.8972 million yuan in 2023. As of December 31, 2023, current assets are less than current liabilities and the cumulative undistributed profit is-1.8399912 billion yuan. The above financial situation makes the sustainability of Cocontinent uncertain, which may not be able to realize assets and pay off debts in the normal course of operation. These events or circumstances indicate the existence of significant uncertainty that could lead to significant doubts about the sustainability of Cocontinent Electronics.

At the same time, the audit report particularly emphasized that Tongzhou Electronics received administrative punishment from Shenzhen Securities Regulatory Bureau in July 2021 for misrepresentation of securities information in previous years. Some investors who bought Tongzhou Electronic shares sued the company to compensate for economic losses to the Shenzhen Intermediate people's Court on the grounds that they had suffered investment losses due to misrepresentation of Tongzhou electronic securities information. As of April 20 this year, the courts in some investor litigation cases have made second-instance judgments, ordering Tongzhou Electronics to pay 8.3224 million yuan in compensation, which has been confirmed as payable.

In addition to those that have already made a judgment of second instance, the court of first instance ordered Tongzhou Electronics to pay 25.9228 million yuan in compensation, and Tongzhou Electronics recorded the full amount of the compensation of the first instance judgment against the estimated liabilities; in addition, the court of first instance has filed a case that has not yet made a judgment or is in the stage of joint investigation before the lawsuit. Tongzhou Electronics has set aside an estimated liability of 11.0746 million yuan.

This article was first posted on the official account of Wechat: e Company. The content of the article belongs to the author's personal point of view and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

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