JIANYI GROUP(SZ:002789) Sou Hu Cai Jing·2025-12-25 16:24Core Viewpoint - *ST Jianyi has received a significant financial boost from its controlling shareholder, Zhuhai Zhengfang Group, which has waived 1.4 billion yuan in debt and donated 400 million yuan in cash, totaling 1.8 billion yuan, exceeding the company's market value of 1.596 billion yuan [1][2]. Group 1: Announcement Details - The announcement from Zhuhai Zhengfang Group clearly states the waiver of 1.4 billion yuan in debt principal and 8.8967 million yuan in interest, along with a donation of 400 million yuan in cash, all done voluntarily and unconditionally [2]. - The transaction is characterized as a one-sided benefit to *ST Jianyi without any obligations or conditions attached, and the company has applied for exemption from shareholder meeting approval [2]. Group 2: Financial Situation - *ST Jianyi is facing a critical situation with a projected negative net asset value by the end of 2024 and a significant loss of 342.4 million yuan in the first three quarters of the year, with total revenue of 2.666 billion yuan [3]. - The company is at risk of delisting if it cannot turn its net assets positive by the end of 2025, making the financial support from its controlling shareholder crucial [3]. Group 3: Market Response - The market reacted positively to the announcement, with *ST Jianyi's stock price rising from 7.69 yuan to 10 yuan over four consecutive trading days, reflecting a nearly 30% increase [5]. - Prior to the announcement, the company had issued a statement denying any undisclosed significant matters, indicating that the market had anticipated the forthcoming support [5]. Group 4: Asset Sale Termination - On the same day, *ST Jianyi announced the termination of a property sale agreement with Zhuhai Zhengfang Group, indicating a preference for direct financial support over asset transactions [6]. Group 5: Ongoing Delisting Risks - Despite the substantial financial support, *ST Jianyi's delisting risk remains, as the company acknowledges uncertainty regarding its ability to achieve positive net assets by 2025 [7]. - The recent financial aid signals a willingness from stakeholders to prevent the company's delisting, but the ultimate impact will depend on the results of the annual audit [7]. Group 6: Broader Market Implications - The case of *ST Jianyi exemplifies the current trend in China's capital markets, where various stakeholders are actively working to support listed companies and mitigate risks [4]. - The situation highlights a broader effort to restore confidence in the capital markets, with increasing involvement from regulatory bodies, local governments, and state-owned enterprises [4].