JLGF(SZ:000712) Zheng Quan Shi Bao Wang·2024-12-15 11:33Core Viewpoint - Jinlong Co., Ltd. is facing significant financial challenges, including a lawsuit related to a loan dispute and a high debt ratio, which has led to operational losses and a need for asset restructuring [1][2][3] Group 1: Legal and Financial Issues - Guangdong Lihe Investment Holding Co., Ltd. has filed a lawsuit against Jinlong Co., Ltd. for a loan dispute involving 66.029 million yuan, resulting in the freezing of 6.6029 million shares of Dongguan Securities, representing 4.4% of its registered capital [1] - Jinlong Co., Ltd. has reported continuous operational losses since 2021, with revenues declining from 1.006 billion yuan in 2021 to 192 million yuan in 2023, and net profits showing losses of 131 million yuan, 392 million yuan, and 384 million yuan respectively [2] - The company's debt ratio has exceeded 80%, with annual interest expenses surpassing 400 million yuan, significantly impacting profitability [3] Group 2: Business Operations and Restructuring Plans - Jinlong Co., Ltd. holds 67.78% and 40% stakes in Zhongshan Securities and Dongguan Securities, respectively, which are involved in various financial services [1] - To improve its financial structure and cash flow, Jinlong Co., Ltd. announced plans to transfer 300 million shares of Dongguan Securities (20% of total shares) and 67.78% of its stake in Zhongshan Securities [3] - The company is actively communicating with relevant parties to resolve the loan dispute and plans to apply for the lifting of the share freeze on Dongguan Securities [3]