Yaogui Group spent 200 million yuan to join ST Tianlongmou restructuring

ST Tianlong (600234) announced the suspension of trading at the end of December last year because the major shareholder Taihe Hengshun intends to transfer the shares of the company it held. According to the previous commitment, the company announced that Yaogui Group has spent 200 million yuan to enter the market, the transaction price of 5.25 yuan per share is more than 16% higher than the closing price before ST Tianlong suspension.

At the same time, ST Tianlong announced that it will continue to suspend trading, this time is "planning major issues." Analysts said that the next major issue should be the plan for Yaogui Group to inject its assets.

It is reported that Mianyang Yaoda is located in Yanting County Industrial Park, Mianyang City, with a registered capital of 100 million yuan. It is mainly engaged in forging, machining and auto parts manufacturing and sales of forgings. The shareholders of the company are Yaogui Group and Gu Daiyu, and the shareholding ratio is 95% and 5% respectively.

Yaogui Group is not registered in Sichuan, but in Beijing. It was established in December 2002 with a registered capital of 90 million. The legal representative and Mianyang Yaoda are both Zhang Li. The company's total assets amount to 9 billion yuan. In 2011, it achieved sales revenue of about 11 billion yuan. It is a wholly-owned and holding company. Yujia has more than 20 major shareholding companies. Its subsidiaries and subsidiaries operate in auto parts manufacturing, auto sales services, financial investment, tourism, hotel management, and property services.

The reporter noted that ST Tianlong mainly produces and sells small and medium-sized LED backlight products, is entrusted with processing and brand-operated video products, and operates part of the leasing business. As of September 30, 2012, the company's total assets were 410 million yuan, and the net assets were -908.423 million yuan.

In recent years, ST Tianlong has been heavily in debt, and its business is lacking. It is only relying on investment income and non-operating income to barely make a living. In June 2012, Taihe Hengshun received 18.82% stake in ST Tianlong from Dongguan Jinzheng, announcing that it will increase its holdings of listed company shares in the next 12 months, and “integrate adjustments to ST Tianlong’s business and assets” As a result, investors began to restructure, but unexpectedly, it was Taihe Hengshun’s equity.

Taihe Hengshun did not fulfill its promise. After relying on the net profit of ST Tianlong, it earned 47 million yuan and then turned and left, which really disappointed investors. The so-called "blessings and disasters", fortunately, its transfer price is higher than the second-tier market price of ST Tianlong, in addition, ST Tianlong seems to finally greet the dawn.

The reason for this is that today the company announced that it will continue to suspend trading. The reason for the suspension is "planning major issues." Some analysts said that the company's major issues are likely to be the issue of shares to buy assets or asset replacement, "it is expected that Yaogui Group will inject some of the business of the car rather than the real estate sector, because the restructuring involving real estate is very difficult."

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