25.85% Of The Shares Held By The Actual Controller Of La Chapel Will Be Auctioned By The Judiciary

Now, the shares of the actual controller will be auctioned. Known as the "Chinese version of Zara" and the first a + H-share listed clothing company in China, La chapel is ushering in the "dark moment".

On the evening of January 31, * ST lashia (603157) announced that 25.85% of the company held by the actual controller would be auctioned by justice. If all or most of the shares to be auctioned were completed, the controlling shareholder and actual controller of the company might be changed.

25.85% of the company held by the actual controller will be auctioned by the judiciary

Or change of control

On the evening of January 31, * ST lashia (603157) announced that the company's shares held by the actual controller Xing Jiaxing would be auctioned by the judiciary, with 142 million shares, accounting for 25.85% of the company's total share capital and 99.81% of the company's shares directly held by Xing Jiaxing. If all or most of the shares to be auctioned are completed, the company's controlling shareholder and actual controller may be changed.

Bidders bid from 9:30 to 11:30 and 13:00 to 15:30 on March 5, 2021. For the remaining 1600000 shares after the split, the bidders will be consulted in turn according to the bidding price in the final matching result. If there is no bidding, the Shanghai financial court will dispose of the remaining 1600000 shares in other ways.

As of the third quarter report of 2020, Xing Jiaxing holds 25.91% of the company's shares.

It is worth noting that in the announcement of abnormal fluctuations in stock trading issued on January 21, La charbell once again mentioned the stock pledge explosion of Xing Jiaxing, its controlling shareholder and actual controller.

In August 2019, Xing Jiaxing pledged 141.6 million A-share shares with limited sales conditions to Haitong Securities. Because it was lower than the minimum performance guarantee ratio, it did not buy back in advance and did not take performance protection measures, which constituted a breach of contract.

Not long ago, the actual controller was criticized

On January 20, * ST lashia issued the decision of the Shanghai Stock Exchange to notify and criticize the company and its relevant responsible persons, including Xing Jiaxing.

The Shanghai Stock Exchange criticized the implementation of share repurchase by listed companies, which will have a great impact on shareholders' equity and stock trading. The company disclosed a large amount of repurchase plan to the outside world, which made the market and investors form corresponding expectations. *St lashia did not buy back the shares according to the publicly disclosed share repurchase plan, and the actual repurchase amount only reached 40% of the lower limit of the overall repurchase plan. There was a big difference between the actual implementation and the disclosed repurchase plan, and the repurchase was not completed according to the plan after the delay, which affected investors and market expectations. *St rashia's above-mentioned behavior violated the relevant regulations.

In terms of responsible persons, Xing Jiaxing, the then chairman of the company (his term of office is from September 25, 2017 to February 3, 2020) and Duan Xuefeng (his term of office is from May 8, 2020 to the present) are the first responsible persons for the company's business decision-making and information disclosure. They are responsible for the formulation, disclosure and implementation of the share repurchase scheme, and are not diligent and responsible for the company's violations. The behavior of the above responsible person violates the relevant provisions and the commitment made in the statement and commitment letter of directors (supervisors and senior managers).

To this end, the Shanghai Stock Exchange criticized Xing Jiaxing and Duan Xuefeng, the board chairman of * ST lashia in time.

On January 4, 2021, the board of directors of * ST lashia received the resignation report of Duan Xuefeng, chairman of the company.

Subtitle: three years of continuous losses, facing delisting risk, stock price plummeted 80% in the past year

On January 30, * ST lashia released a performance forecast showing that the company is expected to have a net loss of RMB 1.3 billion to RMB 1.8 billion in 2020. However, in the previous two years, La chapel lost 160 million yuan and 2166 million yuan respectively, and its shares were also "starry and hooded".

On the same day, * ST lashia issued the "notice on the possible delisting risk warning of A-shares", which indicated that according to the preliminary accounting of the company's financial department, the net assets of the Company attributable to the shareholders of the listed company after audit are expected to be negative at the end of 2020. If the audited net assets of the listed company's shareholders are negative at the end of 2020, the company's A-share shares may be subject to delisting risk warning.

In fact, between 2011 and 2017, rachabel also had highlights. In September 2017, La chapel realized A-share listing, becoming the first apparel company in China to be listed on a + H market. At that time, rachabel was known as the "Chinese version of Zara.".

In October of that year, the share price of La chapel once reached a high of 29.75 yuan, which remained above 20 yuan even in the first half of 2018; however, the performance was tarnished and the stock price of La chapel also fell sharply. In November 2019, its share price was once as low as 4.09 yuan, a new low. Since the peak in January last year, the stock price of * ST lashia has experienced another round of sharp decline, with a drop of more than 80%.

Five presidents a year

According to the company's announcement on reply to the supervision work letter of Shanghai Stock Exchange on December 22 last year, from December 9, 2019 to December 9, 2020, the cumulative number of lawsuits involved was 439, and the amount involved was about 1.523 billion yuan; the actual frozen amount of bank accounts was 85, and the actual frozen amount was about 205 million yuan; the book value of the company's real estate was 1.297 billion yuan Yuan.

In addition, * ST lashia has experienced many high-level changes. Within a year, there were five presidents alone, and several executives left.

From 2001 to October 2019, Xing Jiaxing served as chairman and President of La chapel for a long time. In October 2019, Xing Jiaxing resigned as president and Yu Qiang, the company's chief financial officer, CO president and executive director, took over the position of president.

In February of this year, Yu Qiang, who has only worked for four months, resigned as president for personal reasons. Xing Jiaxing took back the position of president.

On April 20, President of La Chabel was changed from Xing Jiaxing to Yin Xinzai. Yin Xinzai has been the general manager, vice president of marketing and senior vice president of the company's sales and marketing department since August 2013. In August this year, Yin Xinzai also applied to resign from the position of president of the company. After that, the position of President La chapel was vacant for three months. Until November, a veteran of the company took office, and La charbell announced that Zhang Danling was the president of the company. However, it did not last long. On December 9, Zhang Danling, who had been in business for a month, also resigned from the position of president and changed to another veteran Zhang Ying.

In this way, in a short period of one year, rachabel has changed five presidents, all of whom were veteran generals who had held important positions in the company. In addition, several directors, independent directors and securities Representatives "left" during the year.