Gaosheng Holdings (000971): Now Pformed Into "ST Gao Sheng"

Gao Sheng holding a huge violation of security has a chain reaction.

On Tuesday night, Gaosheng holdings announced that the company's stock will start to "ST" in March 28th because of the fact that the controlling shareholders and major shareholders are unable to solve the problem of illegal guarantee and capital occupation within 1 months.

Public information shows that Gaosheng holdings had previously secured nearly 2 billion yuan for major shareholders and related party violations, and was also occupied by nearly 400 million yuan by major shareholders.

The company becomes a large shareholder "ATM".

On Tuesday night, Gaosheng holdings issued a risk warning that large shareholders and their affiliates were unable to solve the problem of illegal guarantee and capital occupation within one month. The company's stock will be subject to other risk warnings, and the stock will be changed from "Gaosheng Holdings" to "ST high".

Speaking, the process of Gaosheng holding by ST is rather "bizarre".

In July 19, 2018, Gaosheng holdings suddenly disclosed a reply notice to the Shenzhen Stock Exchange's inquiry letter, answering the reason why Du Linlin, the former secretaries of the company, took office in January.

At the same time, it also disclosed three cases of litigation related debt, which led to the company's illegal guarantee and capital occupied.

Since then, under the continuous attention of the Shenzhen Stock Exchange, Gaosheng Holdings has adopted "squeezing toothpaste" as a way of writing letters, increasing the amount of illegal guarantee again and again.

According to the 26 announcement of this month, Gaosheng holdings provided the largest shareholder and its associated parties with an initial sum of 1 billion 979 million yuan. The initial principal amount of the total non operating capital occupied by major shareholders and their associated parties was 372 million yuan, and the remaining balance is 52 million 625 thousand yuan.

Reporters combed found that since March 2017, Gaosheng holdings have carried out 12 guarantees in violation of the law, the latest starting date for guarantee is July 19, 2018.

That is to say, a letter of guarantee was still issued on the day when the inquiry letter was suddenly issued.

Violation guarantees affect the reorganization project

As a result of violation of the guarantee "window", Gaosheng holdings by the SFC "suspected letter Phi violation" as a case for investigation.

At the same time, due to the large shareholders and related parties have many loans are not yet returned, Gaosheng holdings also because of joint liability for many of the litigation, resulting in some bank accounts were frozen, which further caused Gao Sheng holdings to acquire Hua Qi communications stock matters were forced to stagnate.

In December 2017, Gaosheng holdings intends to purchase 99.997% stake in Hua Qi communications at a paction price of no more than 919 million yuan, issuing shares and paying cash separately, paying 505 million yuan for share payment, and 414 million yuan for cash payment.

"At that time, we did this reorganization project, hoping to achieve the cash consideration part of the equity purchase through the way of non-public offering fundraising.

Now the company is investigating this matter, and it can not be done by non-public offering.

And some of the company's bank accounts have been frozen. That's the case now. "

When the reporter called Gaosheng holding company, its securities department staff said so.

The stagnation of the acquisition also caused the dissatisfaction of the original shareholders of Hua Qi communications, which led to the related litigation disputes and the freezing of accounts of Gaosheng holding subsidiary company.