Core Viewpoint - New Dazhou A (000571) is facing an unresolved debt crisis, with its stock price reaching a multi-year high since 2017 on December 8, despite ongoing issues related to overdue debts of its wholly-owned subsidiary [1] Group 1: Debt Issues - New Dazhou's wholly-owned subsidiary, New Dazhou (Zhejiang) Trading Co., Ltd., borrowed 80 million yuan from Huaxia Bank Ningbo Branch, with a repayment due on September 10, 2025, including interest of 1.04 million yuan, which has not been repaid on time [3] - The loan is guaranteed by New Dazhou and others, with New Dazhou pledging its 54 million yuan equity in Inner Mongolia Yakeshi Wujiu Coal Group Co., Ltd. as collateral, valid from September 2, 2022, to September 2, 2027 [4] - As of December 8, New Dazhou is actively seeking solutions with creditors and third parties, but no viable plan has been reached, leading to significant uncertainty regarding the resolution of the overdue debt [4] Group 2: Financial Implications - If the overdue debt is not resolved and legal proceedings are initiated, the court's ruling could affect New Dazhou's control over Wujiu Group, potentially preventing the consolidation of Wujiu Group's financial statements [4] - Wujiu Group is a major source of revenue for New Dazhou, and failure to resolve the debt could trigger delisting risk under Shenzhen Stock Exchange rules if the company's audited profit totals for the last fiscal year fall below negative values [4] - New Dazhou reported a revenue of 820 million yuan for 2024, a nearly 33% decrease year-on-year, with a net loss of 111 million yuan, marking consecutive years of losses [5] Group 3: Business Overview - New Dazhou was listed on the Shenzhen Stock Exchange on May 25, 1994, primarily engaged in motorcycle manufacturing and sales, and has shifted its main business focus to coal mining and sales since 2007 [5] - Wujiu Group, acquired in 2006, has a production capacity of 3 million tons per year and produces long flame coal, which has a competitive market advantage in the eastern Mongolia region [5]
涨停!000571,盘后公告:债务危机无解,可能触及退市风险警示