Eastern Ocean responds to sea cucumber impairment: we are not like Zhangzi Island, sea cucumbers are still there

Eastern Ocean responds to sea cucumber impairment: we are not like Zhangzi Island, sea cucumbers are still there
ST East Ocean’s accrual of large amounts of sea cucumbers has caused continuous controversy.On February 28, ST East Ocean released a performance announcement “announcement”, the company’s net profit is expected to increase.53 trillion US dollars, the budget is expected to profit 20 million-40 million.According to the announcement, it was determined in advance that, according to the different breeding years, the company made a large amount of impairment for sea cucumbers over 3 or 5 years, and the total impairment amount was 2.5.7 billion yuan.”There is a scallop running in the front, and there is an oriental ocean sea cucumber growing old.” On the stock bar, some investors likened ST East Ocean to another “Zhangzi Island”.On March 13th, the staff of ST East Ocean’s Secretary Office denied this statement.She said that it ‘s not that sea cucumbers ca n’t be eaten or their nutrition is low, nor that they died after 5 years with Shanghai ginseng.The sea cucumber is still there.”Sea cucumber” old “leads to performance face change On February 28, ST East Ocean Show 2019 performance report: report and its realized operating income6.06 trillion, an average of 16 years.42%; realized net profit attributable to shareholders of listed companies -5.53 trillion US dollars, an annual increase of 29.86%.Compared with the expected profit of 20 million to 50 million in the Air Force ‘s third quarterly report, ST East Ocean ‘s performance can be described as a “big face change”.Announced in China, ST East Ocean will first be transformed into a “shuffling” provision for impairment of seafood.ST East Ocean separately accumulates the price drop for sea cucumbers2.57ppm, impaired value of 75.17 million for salmon and 15.39 million yuan for collagen, totaling 3.4.7 billion yuan.Not surprisingly, the Shenzhen Stock Exchange sent a letter of concern to ST East Ocean.On March 12, ST East Ocean responded to the letter of concern.The reason for ST East Ocean’s claim for the impairment of sea cucumbers is that “the breeding time exceeds a certain period of time”.According to ST East Ocean, the company previously made calculations based on a 5-year breeding cycle, and made provision for inventory price declines for farming inventories over 5 years old.This year, the company found that the degree of impairment of different breeding modes affected by temperature, bottom transformation, breeding environment and other factors is different, which is not enough to support the cultivation of sea cucumber stocks in accordance with the 5-year investment value.Therefore, ST East Ocean also refined the sea cucumbers it belongs to. For open-bottom sea-bottom aquaculture, the stock price depreciation reserve is still calculated based on the 5-year period of 4,457.680,000 yuan, for the bottom-culture in the cofferdam-type sea area, according to the 4-year period, the provision for inventory price declines is 12,333.470,000, for the intensive pond aquaculture, according to the three-year period, the provision for inventory price decline is 8,888.920,000 yuan, totaling 258,800,000 yuan.In addition to the above-mentioned impairment on sea cucumbers, it is also one of the reasons for the impairment of salmon and collagen. ST East Ocean stated that due to the fierce competition between international salmon farming and the abnormal growth of salmon farming, it cannot meet the commercial fish sales standard.Collagen is the expansion of the stock age of collagen products, which is expected to be difficult to digest and use in the short term.In 2019, the company also broke out a large amount of customer arrears, and therefore the total amount of impairment of the receivables is about 1.3.7 billion yuan.The company’s 14 major customers owe a total of company funds1.03 trillion, this time totaled 78.12 million yuan.According to the announcement, the fact that customers do not have money is mainly due to economic growth leading to a slump in the service industry and the poor management of some customers, leading to a break in the capital chain.The announcement did not announce the names and other specific information of the 14 client companies.”We are not the same as Zhangzidao scallops, our sea cucumbers are still there.” There are Zhangzidao scallops “running the road” in front of them, and later ST East Ocean sea cucumbers grow old.Some investors linked the two listed aquaculture companies.On the interactive exchange platform of the China Securities Regulatory Commission, some investors also questioned: “How many billions of inventories are there in five years and how many are in less than five years? Why don’t you harvest sea cucumbers in five years!”.”A sea cucumber farming farmer in Weifang City, Shandong, told reporters how long the sea cucumber can live depends on how old the sea cucumber seedlings are, but unless it is sick, it will not die for 5 years.On the contrary, more than 5 years of nutritional value is higher and better to sell.In 2008, ST East Ocean quoted the timetable for sea cucumber breeding in an investment announcement for the “Recruitment of Investment Funds for the Construction of a 20000 Mu Underwater Ranch Project on Kongtong Island”.It mentioned that the growth rate of sea cucumbers is affected by the change of seawater depth. Generally, the shallower the seawater depth, the richer the bait and the faster the growth rate.However, the natural cycle of sea cucumber cultivation is relatively long. It enters the harvest period in the third year and reaches 50% of the degradation, and only enters the normal harvest period in the fifth year, reaching 100% of the degradation.According to the announcement, the fifth year should be the time for sea cucumbers to formally mature for fishing.According to the above announcement combined with the farmer’s argument, it takes 5 years of breeding to approximate the “peak period” with Shanghai ginseng. Why should the impairment be calculated?On the morning of March 13, Sauna and Yewang contacted the secretary-general of the listed company as an investor.The staff told reporters that it was not that Shanghai ginseng died within 5 years or became less valuable.It is also mentioned that the company’s sea cucumber fishing is divided into two fishing (not yet started, until May) and autumn fishing, other time sea cucumber will be on the reef to catch fish, but due to changes in the environment of Yantai last year, the sea cucumber fishingReduced.But the more important thing is because of the requirements of accounting standards, and denies the statement that the sea cucumber died 3-5 years later.”It’s not that it will be absent or dead after five years or three years, four years later (sea cucumbers), but only after a few years, we will adopt an accounting standard to specify them within the Zhezhe range.Impairment, we think it may continue to be harvested after five years, or it may be that the quantity of our fishing after five years is not as good as before, or that sea cucumbers will be sold at a lower cost price than before after five years.”The staff is not clear yet, the company’s sea cucumber impairment is different from the” running road “of Zhangzidao scallops.”Our sea cucumber is indeed due to different accrual methods, but it is on the bottom of the sea.Our sea cucumbers are not saying they are gone, nor are they fraudulent, they are still on the bottom of the sea, and there are only errors caused by the way of accrual.”she says.The chairman has been repeatedly fined by the supervisory authorities. In addition to the performance of the existing lawyers’ organization, ST East Ocean recently also got into trouble because of the violation of the rules of the chairman Che Shi.On March 12, the reporter learned from the website of the Shenzhen Stock Exchange that the Shenzhen Stock Exchange had issued a notice due to the violation of regulations and the reduction of the holdings of Che Shi, chairman and general manager of ST East Ocean.On September 25, 2019, 4,022,600 ST East Ocean shares held by Che Shi were legally enforced through auction transactions, and the total amount of the reduction was 1,545.08 million yuan.Che Shi ‘s shareholding reduction did not comply with the provisions of Article 11 of the “Implementation Rules for Shareholders, Directors, Supervisors, and Senior Management of Listed Companies”.Abiding by the above-mentioned violations and facts, the Shenzhen Stock Exchange decided to give Che Shi a punishment for notification and criticism in accordance with relevant regulations.In addition to being criticized this time, the Shenzhen Stock Exchange website showed that ST East Ocean was also investigated and marked by the CSRC.On May 5, 2019, ST East Ocean received the “Investigation Notice” issued by the Shandong Securities Regulatory Bureau. ST East Ocean was investigated for suspected information disclosure violations.On September 19, 2019, ST East Ocean received the “Prior Notice from the Administration”, and Shandong Securities Regulatory Bureau planned to give a warning to Che Shi and impose a fine of 900,000 yuan.According to previous announcements, Che Shijun also misappropriated company funds8.US $ 2.4 billion was used to strike the “holes” of democratic pledges.The money was used for more than 3 months, and it was not until March 2019 that ST East Ocean announced its controlling shareholder8.The 2.4 billion capital occupancy settlement has been completed.Because of the violation of the above letter, lawyers have started to organize investors to protect ST East Ocean’s rights. Lawyer Wang Zhibin of Shanghai Minglun Law Firm told reporters that he began accepting entrustment on October 10 last year.A full range of investors joined the ranks of rights defenders. “We are currently preparing for investor loss accounting, and there is no new progress in courts.”Reporter Peng Shuo Li Yunqi Intern Zhao Fangyuan Editor Xu Chao proofread He Yan

LG Cup Chinese four advance to the quarterfinals Ke Jie reversal will fight Shen Zhen

LG Cup Chinese four advance to the quarterfinals Ke Jie reversal will fight Shen Zhen
On May 31st, the 22nd LG Cup World Go Chess King’s top 16 battle was added to Gyeonggi-do, South Korea. Ke Jie continued to win and lose, eventually reversing Jiang Dongrun; Jiang Weijieli Ke Pu Tinghuan, two consecutive victories in South KoreaOne person; Zhou Ruiyang suffered the reversal of Japan’s first person, Jingshan Yutai; China’s Ke Jie, Jiang Weijie, Yang Dingxin, and Xie Erhao entered the top 8.The other four of the top 8 are South Korea’s Cui Zhehan, Shen Zhenshen, Li Yuanrong and Japan’s Jingshan Yutai.The quarter-finals are about to be antique on November 11, and Ke Jie will play against Shen Zhen’s second-ranked South Korea.The semifinals will be antique on November 13.The top eight players took a picture with Ke Jie. Jiang Dongrun played four matches in the league and won two innings. Ke Jie was eliminated by Jiang Dongrun in the 20th LG Cup top 8 last year. Ke Jie lost Jiang Dongrun in the 21st Samsung Cup 32 last year.But it did not affect the subsequent defending.Jiang Dongrun VS Ke Jie guessed that Ke Jie played white chess successively. Like the first game of AlphaGo, he used Xiaomu again, three-three start, and then white 6 immediately three-three.Jiang Dongrun imitated AlphaGo, and Black 23 formed the same part as the first game of the man-machine war.Bai 26 immediately broke out of the battle, and Ke Jie gave a novice after reflection.The two sides started a fierce battle that spread across the board, Jiang Dongrun played well, and Ke Jie’s novice was not successful.White 108 is Ke Jie’s first winning hand, and until Black 141 forms a conversion, White gradually gets cheaper, and partial Jiang Dongrun still prevails.Then Ke Jie tried to create chaos, and Black 169 chose to switch here. To Black 181, Black ate the bottom left corner, and Jiang Dongrun entered Guanzi with a slight advantage.Bai 224 began to stir up the game. Jiang Dongrun, who had counted down the counter, made a mistake. The lower left corner was played. To 236, Black was killed instead, and Ke Jie reversed and won.Jiang Weijie played against South Korea’s first player Park Ting-hwan, and White 14 played AlphaGo in the third game of the man-machine war.Black 19 did not follow the usual three-way lead. Jiang Weijie and Bai 20 immediately cut off the battle, and to Bai 46, Bai’s order was successful.Since then, Jiang Weijie has always seized the advantage and won by 276 hands.In the last round, Li Shishi was eliminated. In this round, Park Ting-hwan was defeated and the new and old first person in South Korea was continuously defeated. In the past two years, China’s first quiet post-90s world champion is expected to usher again.Zhou Ruiyang and Japan’s first man Yu Shan Jingshan played for the first time. He who played Baiqi quickly gained an advantage in the prelude.However, when Jingshan Yutai scored the white chess on the left, Zhou Ruiyang’s attack was unfavorable and was easily dealt with by his opponent. Eventually, he was overturned.At this point, all previous champions and runners-up are out.This is the first time Yuyama Ita has scored in the top 8 of the LG Cup.The South Korean teenager Li Yuanrong, who eliminated the previous champion Dang Yifei in the last round, once again defeated another Chinese post-90s world champion Tang Weixing.Chen Yaoye lost to his old opponent Cui Zhehan.Two young Chinese born in 1998 played well, Xie Hao eliminated Jin Zhixi, and Yang Dingxin won Jin Mingxun.In another game, Shinshin Shin, the second-ranked Korean superstar, defeated the Japanese chess player Toshihiko Ida.The number of Chinese chess players who were unfavorable in this game was promoted to 4 and occupied half of the top 8.After the match, the top 8 draws were conducted, and the match was as follows: Ke Jie (middle) VS Shen Zhen’s (Han) Xie Erhao (middle) VS Cui Zhehan (Han) Jiang Weijie (middle) VS Li Yuanrong (Han) Yang Dingxin (middle) VS Jing ShanyuToo (Japan) LG Cup matches take 3 hours on each side, 5 countdowns of 40 seconds, and no lunch break.The winner’s prize is 300 million won, and the runner-up prize is 100 million won.

Lin Dan has advanced to the top 8 of Gwangju and needs to meet a condition if he wants to enter the finals

Lin Dan has advanced to the top 8 of Gwangju and needs to meet a condition if he wants to enter the finals
Lin Dan advanced to the top 8 of the Gwangju Masters.Picture / Visual China World Badminton Professional Tournament Korea Gwangju Masters today started the second round of competition. Lin Dan fought hard for 83 minutes and reversed the local player Xu Dongxi to the top 8.Brother Lu Guangzu eliminated Wang Ziwei, helping Lin Dan retain his hope of participating in the World Badminton Finals.The Gwangju Masters is the final stop of this year’s finals.In the standings updated on Tuesday, Lin Dan ranked 10th, which was 3230 points away from the 8th place of Wang Ziwei of Chinese Taipei.If you want to beat the whistle to overtake Super, you must meet two conditions: Prince Victoria won the quarterfinals, Lin Dan won the championship.Earlier today, Lu Guangzu defeated Wang Ziwei 21-18, 13-21 and 21-18, helping Lin Dan meet a condition.Subsequently, Lin Dan played against Xu Dongxi.In the first game, they lost 26 to 28 and returned to the city 21 to 19.In the decisive game, Lin Dan was chased by 8 points in a row with a 20 to 11 lead, and finally decisively gathered in the face of the key ball to advance again 21 to 19 thrilling.Lin Dan’s top 8 opponent was Tannon Sak in Thailand. The two men fought three times and Lin Dan won all, but the last encounter was in 2017.In the case of getting the finals in advance, Shi Yuqi, Chen Long and Denmark’s Ansai Long, An Dongsen and other players have withdrawn from the Gwangju station; until, Wu Jialang, Xibenquan Tai and other seed players have also been eliminated.It can be said that whether Lin Dan can seize the opportunity to rise to the top 8 in order to win the whistle to qualify for the finals, the biggest opponent is himself.

Ruixing Coffee’s potential plungeUCAR emergency suspension

Ruixing Coffee’s potential plungeUCAR emergency suspension
After Ruixing Coffee’s financial fraud, Lu Zhengyao “cracked up” again.On April 6, Goldman Sachs released a report saying that Haode Investment, the family fund of Lu Xingyao, the chairman of Ruixing Coffee, had defaulted on a stock pledge loan with an amount of up to 5.A syndicate composed of lenders of US $ 1.8 billion has instructed Credit Suisse Singapore Branch, as the guarantor trustee, to exercise the lender ‘s rights against the collateral, that is, to enforce the procedures involving 76.35 million ADS.In fact, Shenzhou Car Rental, a Hong Kong-listed company in China, was downgraded by the rating agency. The new third board company, Shenzhou UCAR, has applied for a suspension of trading for up to a month because of concerns about the news order.In the final press release, Ruixing Coffee should not have responded to the event of “crowding.”The leader was accused of pledged nearly half of the shares. The report stated that there were 5 in total.1.5 billion shares of Ruixing Coffee Class B common shares and 9544 shares.50,000 shares of Class A common stock were pledged, including additional shares pledged by an entity controlled by the family trust of Qian Zhiya, CEO of Ruixing Coffee.The pledge of stocks by Ruixing Coffee’s management team is not new.In February this year, the Muddy Water Report pointed out that Ruixing Coffee co-existed nearly half of its shares as a mortgage (61 million ADS), accounting for 24% of Ruixing Coffee ‘s total shares, even exceeding Ruixing Coffee ‘s 5The total shares (51 million ADS) in the monthly IPO and the January 2020 placement.According to the report, Chairman Lu Zhengyao, CEO Qian Zhiya and Chairman Lu Zhengyao ‘s sister Sunying Wong have pledged to hold 30%, 47% and 100% of the company ‘s shares respectively.Specifically, Chairman Lu Zhengyao holds approximately 6060.60,000 shares of ADS, of which about 18.18 million shares have been pledged; CEO Qian Zhiya holds 39.06 million shares of ADS, of which about 18.26 million shares are pledged; Lu Zhengyao’s sister Wong Sunying holds about 24.61 million shares of ADS, allWas pledged.Ruixing’s prospectus did not disclose that Sunying Wong was Lu Zhengyao’s sister, but this relationship was disclosed in UCAR’s 2018 annual report.Muddy Water believes that Ruixing’s total cashed nearly half of the shares through stock pledges, while the remaining investors faced a huge risk of stock crashes.Before Ruixing Coffee landed on NASDAQ in 2019, Chairman Lu Zhengyao held a 30% stake.53%; the company founder and CEO Qian Zhiya holds 19% of the shares.68%; Li Hui holds 11 shares.90%, Liu Erhai holds 6 shares.75%.Since then, Ruixing Coffee has been issued.On January 8, Li Hui’s Dazheng Capital reduced its holdings of 38.4 million shares of Ruixing, with a shareholding ratio of 14.06% dropped to 12.15%, cash out 2.300 million US dollars, but still the largest institutional shareholder.Regarding the rumors of selling Ruixing Coffee’s shares, at the time, Liu Erhai’s Yueyue Capital issued a statement saying, “Since investing in Ruixing Coffee in 2018, Yuyue Capital and its related parties have never sold any shares of Ruixing Coffee.”At that time, Ruixing Coffee’s response to muddy water stated that Ruixing Coffee firmly denied all the allegations in the report.The report ‘s argument was flawed, the so-called evidence contained in the report had no solid factual basis, and the report was allegedly based on this unfounded fact and malicious interpretation of the incident.In addition, the report also attacked the management team, shareholders and business partners of Ruixing Coffee. This attachment is false, misleading or completely irrelevant.Shenzhou Car Rental: The ten-year market of Ruixing Coffee without stocks has also been rumored to be the capital relationship between Shenzhou Car Rental and Ruixing Coffee.On April 6, Moody’s lowered the corporate family rating and senior unsecured rating of car rental companies in China from “B1” to “B2”, and added to the downgrade watch list.Moody’s said, “The downgrade and merger downgrade watch list reflect Moody’s solution, that is, Ruixing Coffee’s statement may damage China’s car rental opportunities for funding and operations.On the morning of April 7, China Auto Rental announced that the company has not held any American depositary shares or other securities of Ruixing Coffee, and the group has not participated in any commercial transactions of Ruixing Coffee.Although Lu Zhengyao is the shareholder and chairman of Ruixing Coffee, he resigned as CEO of the company in April 2016 and changed his position as a non-executive director.Since then, it does not need to participate in the daily management of the group.Shenzhou Car Rental also explained that, overall, Mr. Liu Jian, the chief operating officer of Ruixing Coffee, has ceased to serve as the department director of the company since 2015.On the date of termination announcement, the business relationship and operation of the Group with financial institutions remained normal.As a result, after the resumption of car rental in Shenzhou today, the market opened higher, and the rate of termination of the press was once up to 35%.Hurun Research Institute: Lu Zhengyao and Qian Zhiya collectively dropped $ 1 billion. Regal Goldman Sachs said that in exercising its rights under the loan arrangement, the lender has begun to enforce the collateral, with too many people in theThe obligations under the loan arrangement include the conversion of Class B common stock of Ruixing Coffee into ADS.If all the loan pledged stocks are sold, Lu Zhengyao ‘s right to vote at Ruixing is not in conflict, but Qian Zhiya ‘s actual income and voting rights will be significantly reduced.A securities analyst told reporters that the expected merger of shareholders has a chain reaction. The current impact of the liquidation on ownership control is not significant, and the specific implementation needs to be followed.According to Dong Yizhi, a special judge of the Netizen E-Commerce Research Center and a lawyer of Shanghai Zhengce Law Firm, according to US law, providing false financial reports and deliberately committing securities fraud crimes is punishable by 10 to 25 years ‘imprisonment for individuals and companies.The fines are up to USD 5 million and USD 25 million.At the same time, the audit agency may also be involved in a crime and may face strict burden of proof.Ruixing Company, related directors and supervisors, auditing agencies and other intermediaries may also face huge class actions.The earliest is that on April 6, the Hurun Research Institute released the “Special Report on the Change of the Wealth of Global Scientists Two Months After the Epidemic”, which showed that due to financial fraud, the expectations of Ruixing Coffee Chairman Lu Zhengyao and CEO Qian Zhiya fell together.Out of a billionaire list.On April 7, S & P Global Ratings downgraded the issuer’s credit rating from B + to B- from B + to the credit watch list.Today, China ‘s new third board company, China UCAR, announced that due to the latest rumors in the public media related to the company, it may have an impact on China UCAR ‘s stock transfer price. In order to protect the interests of investors and avoid abnormal changes in the company, according toAccording to relevant regulations, upon application by the company, the company’s stocks will be suspended from April 7, 2020, and the resumption of trading will be no later than May 6, 2020.Sauna, Ye Wang Chen Weicheng Editor Xu Chao Yue Caizhou Proofreading Liu Baoqing