Asset restructuring Hopeless St Tianlong Directional additional debt

The St-day Dragon (600234), once a loss for two consecutive years, came to the brink of a moratorium on the market in 2009. However, relying on a debt restructuring proceeds, the saves building will eventually be dumped.　　Although the St Tianlong 2010 years and even 2011 no risk of delisting, but throughout its recent years of operation, restructuring of the road, investors worried about its future fate. The two companies involved in the issuance of St Tianlong November 10 announced targeted additional plans, the company intends to major shareholder-related party Zhuhai Xin an Investment Co., Ltd., Qingdao Hundred Huasheng Investment Co., Ltd. two legal persons and Wang Weizing, Bao, Fang Haiping three natural persons directed to add 55.147 million shares, raise capital of about 375 million yuan.　　The funds raised will be directed to the TFT-LCD (LED) Optical film project, as well as repayment of overdue debts and replenishment of liquidity. It is noteworthy that the market has been rumored, "Shanxi Coal Group Shell St Tianlong", St Days of November 3 before the suspension of business has been three days to touch trading. In this respect, Shanxi Jincheng Anthracite Mining Group Co., Ltd. (Jin Coal Group) Dong Liu Jiaji, China Securities newspaper reporter said: "There is no (backdoor) this matter."　　"It is reported that Shanxi Coal Group has passed CICC in the preparation of IPOs." With the targeted additional plans disclosed, St-day Dragon still 4 days in a row, but in the background of a sharp decline in the market, St Tianlong and two consecutive days fell.　　In the market hype "touch screen" concept, St Tianlong immediately and two consecutive trading. In the St-day Dragon stock price of the intriguing trading limit during the period, the market for the company's directional issue of the issue is also heard.　　One of the major shareholders related to the temporary exchange of investment shareholders and targeted additional objects are too weak the most criticized. St Tianlong 10th announced the issuance of additional plans, Xin an investment by Jinzheng Digital and Liu Hualai respectively shareholding 90% and 10%.　　and 12th, the company announced, Xin an investment equity structure changes, by Jinzheng Digital shareholding 51%, Zhuhai Golden Yue Electric Co., Ltd. shareholding 49%. Investment and equity management as the main business of Xin an investment registered capital of only 15 million yuan. 2009 the total assets of the company amounted to 14.9972 million yuan, net profit of 1811.35 yuan. And this directional additional, Xin an investment needs to take out 170 million yuan.　　Xin an investment in the FireWire to introduce new shareholders is only to solve the financial problems. and participate in this directional additional issue of another corporate company is specifically for the St Tianlong Directional additional set up company.　　November 3, 2010 just set up the Qingdao hundred Huasheng registered capital of only 5 million yuan, the company launched the first business is to subscribe St Tianlong 22.5 million shares, which need to take out 153 million yuan in cash.　　Debt restructuring veteran minority shareholders of the St Tianlong doubt is not groundless, St Tianlong years operating performance weak, reluctantly rely on debt restructuring to maintain the qualifications of listed companies have already let shareholders dissatisfied. St Tianlong 2007, 2008 respectively loss of 43.2465 million yuan and 20.9298 million yuan. 2009 The company through debt restructuring, reducing the debt by 112.5811 million yuan, increasing the debt restructuring gains of 63.9811 million yuan. It was the debt restructuring that made the company profitable. That year St Tianlong realized net profit of 44.49 million yuan, after deducting the non-recurrent profit and loss attributable to the parent company's shareholders net profit of 17.49 million yuan.　　Without this debt restructuring gains, St Tianlong will face a moratorium on listings. Information shows that Tianlong group as at December 31, 2009 cumulative loss of 513.3736 million yuan, shareholder rights and interests of 172.2541 million yuan, of which: the ownership of the parent company's shareholder equity of 172.2541 million yuan　　, overdue loans and interest of 285.5946 million yuan, investment in real estate and fixed assets book value of 305.3573 million yuan in the court to seize the state.　　November 8 this year, St. Tianlong and the creditor Qingdao Dragon Biotechnology Co., Ltd. and the Bank of communications Deep South China branch signed the Debt restructuring agreement, the company will receive a total of 101 million yuan in debt relief.　　According to the targeted additional plans, St Tianlong raised 370 million yuan of funds have 252 million yuan to repay overdue bank loans and other arrears, the remaining about 100 million yuan to the optical film project. According to the company's announcement, the Nano System Co, Ltd., which operates in partnership with the company, is a Korean company established in 2003. According to the company's website information, the company is a nano-technology, engaged in optical film-related equipment production enterprises, not well-known in the industry.　　According to the company's investment plan, the optical membrane project should wait until February 2012 when it goes into production.　　Industry insiders said that regardless of whether the Korean company really has the technical strength, even if the company's optical membrane project can be successfully carried out, but the IT industry market instantaneous change, after 1.5, this market has become a saturated competitive market? In this respect, there are St Tianlong small shareholders said, more than the company directed additional projects, but also to say that the company refinancing debt. It is also possible for creditors to participate.