Core Viewpoint - ST Lingda (SZ300125) is facing significant financial challenges due to the abandonment of ownership of unsold finished machines and stagnant materials by its subsidiary, Jinzhai Jiayue New Energy Technology Co., Ltd, leading to an additional loss of 11.6472 million yuan and a potential termination of its second phase TOPCon battery production project [1][2][3]. Group 1: Contractual Developments - Jinzhai Jiayue signed a sales contract with Jiejia Weichuang and Changzhou Jiejia Precision Machinery Co., Ltd in October 2022, with a total contract price of 721 million yuan, which was later amended to 794 million yuan in June 2023 [2]. - As of September 16, 2023, Jinzhai Jiayue had paid 170 million yuan and received 34 units of equipment, with a remaining deposit of 97.9196 million yuan for unsold equipment [2]. - Due to failure to complete the equipment pickup and payment, the seller claimed a breach of contract, leading to the forfeiture of the deposit of approximately 101 million yuan [2]. Group 2: Financial Impact and Losses - The decision to abandon ownership of unsold finished machines and stagnant materials will result in an additional loss of 11.6472 million yuan for ST Lingda [3]. - The forfeiture of the deposit significantly impacts the company's financial status and may lead to the suspension of the second phase of the TOPCon battery production project [2]. Group 3: Financial Support and Restructuring - ST Lingda plans to borrow 15 million yuan from its restructuring investor, Weidi Semiconductor Materials Co., Ltd, with a one-year term and an interest rate of 3% to support daily operations and ongoing restructuring efforts [4]. - The restructuring investor consortium includes Weidi Semiconductor and Zhejiang Zhongling Technology Co., Ltd, with a focus on enhancing operational capabilities and adjusting business structures post-restructuring [4][5]. - Zhejiang Zhongling has shown rapid revenue growth from 1.2785 million yuan in 2022 to 129 million yuan in 2024, indicating strong potential for future collaboration [4].
ST聆达子公司与捷佳伟创达成呆滞物料处理协议,一董事投下弃权票