The Mystery Of "Scare" Of Scallops, Another 300 Million Species Of Scallops, Will Be Solved Again.

As the new year approaches, almost every year, the scallop "002069.SZ" has appeared again.

On the evening of November 11th, it was announced that the company started the activities of the scallop stock detection in the autumn of November 7th, and found that a large proportion of the scallops were killed in the near future. Some of the sea areas died about 80% of the shell shells. The company initially judged that it had constituted a major risk of stock dilution of scallop.

Compared with the previous reports that the scallop caused by "cold air regiment" resulted in the death of scallops and starved to death due to the influence of water temperature, this time, the island did not announce the specific cause of large-scale natural death of scallop.

As soon as the announcement came, the inquiry letter of the Shenzhen Stock Exchange arrived at a speed and questioned the impact of impairment, the cause of death of scallops, and the time of autumn testing.

Faced with the phenomenon of "scare" again, the investors were obviously "angry". In November 12th, Zhang Zi Island encountered a "vote by foot" in the two tier market. On the opening day, the island was killed on the limit board and reported 2.7 yuan / share, the lowest price in history, with only 1 billion 920 million yuan left in its market value.

The mystery of scallop death

According to the announcement, on the day of November 8th, -9 completed the pumping test, and found that a large proportion of the scallop was dead in the near future. Some of the sea shells died about 80% of the shells. The time of death was closer to the capture time. There was no significant difference between the shell size of the dead shell and the survival scallop. The shell ligaments of most dead shells were elastic, and some of the shells remained undecomposed.

The data showed that the average yield per mu of the scallop was less than 2 kg in 2017. In 2018, the average yield of the scallop was about 3.5 kilograms in 2018, and the yield per mu was significantly lower than that of the former October. The above situation has constituted a major risk of inventory impairment of scallop. By the end of 10, the scallop culture had consumed 300 million yuan in book value.

It is not hard to find that the announcement conveys two key points: the scallop of the island is recently killed, and it may affect the whole year's performance.

Why did the scallop suddenly die? The announcement did not explain why. At the end of 10, it also showed that the bottom scallop scallop did not appear abnormal in the production, production and sale data and the status of scallop products.

As soon as the announcement came out, the Shenzhen Stock Exchange issued a letter of inquiry, asking whether the company's risk of impairment had a significant impact on its annual performance. At the same time, the company was asked to explain why the scallop was killed in a short period of time from the end of 10 to the present day, the time of finding the signs of impairment, and whether there were signs of concealment. In addition, the Shenzhen Stock Exchange found that the beginning date of the autumn test was delayed compared with the previous years, and asked for its explanation.

The scallop death will also trigger other chain reactions. In twenty-first Century, the economic news reporter inquired through his letter Bao that there were 13 chattels mortgage risks on the island now. The latest chattel mortgage occurred in September 2nd. The amount of guaranteed debt reached 100 million yuan, and the mortgage-owner was Minsheng Bank Dalian branch. The collateral was the scallop, with a quantity of 856 million 900 thousand, indicating "in good condition".

Scallop was in good condition in September, and there was no abnormality in October. Scallop died in November 9th. But on the 10 day, what happened to the scallop on the island was unknown. In November 12th, the economic report reporters repeatedly called the "Zi Zi Dao" Securities Department on twenty-first Century, and the phone was never answered.

On the evening of November 12th, Wu Hougang, chairman of the island of Zi Zi Island, said that the scallop was just dead from the spot checks. It was based on the fact that the soft tissue was still attached to the scallop shell. Asked the specific cause of scallop death, Wu Hougang said experts are still on the road, and the cause of death must be judged and expressed by experts. Whether it will cause black swans in the annual report, Wu Hougang said that the financial impact is uncertain.

The "death" of the island scallop is not surprising. Since 2014, there have been three "running" events in the past five years.

In October 2014, it was claimed that the scallops were almost killed by the cold water regiment, and the company lost 812 million yuan. In January 2018, the scallops on the island of Zi Zi were starved to death. The number of food organisms decreased and the seawater temperature was abnormal in 2017, resulting in a loss of 723 million yuan in 2017. In the first quarter of 2019, the deer island lost 43 million 140 thousand yuan, claiming that the scallop resources could be reduced by the impact of the 2018 marine ranch disaster.

Delisting possibility

The occurrence of "accidents" by the scallops in the island has long attracted the attention of the regulatory authorities. In February 2018, Zhang Zi island was investigated by the SFC on suspicion of information disclosure.

In July 9, 2019, Zhang Zi island and related personnel received the "advance notice of administrative penalty and market entry" issued by the China Securities Regulatory Commission. On suspicion of financial fraud, the SFC adopted a life market ban on Wu Hougang, chairman of the island, giving warning to the island and fined 600 thousand yuan.

In response to several public replies, Zhang Zi island has indicated that it will take various measures in 2019 to close the risk exposure in time and reduce the risk of systematic large-scale death spread of the scallop.

In a few days, "old disease" recurred.

When will the island be pulled out? For the time being, there may be a possibility of delisting and denomination for three consecutive years.

"One of the investors may vote with their feet, and face the value of the delisting. In the face of such integrity, shareholders should recognize losses and actively recover losses from the company. Two, no accountants dare report annual reports, companies are suspended from listing, and three may be violated by law, but this is difficult to identify." In November 12th, Wang Jiyue, a senior sponsor representative of the former brokerage firm, told reporters on twenty-first Century economic report.

Public information shows that in 2017 and 2018, Zhang Zi Island issued non-standard opinions in accounting firms for two consecutive years. In 2019, the 8 year old Dahua office seemed to have a meaning of "breaking up". In reply to the inquiry letter of the Shenzhen Stock Exchange in 2019, Liu Zi Island replied to the Shenzhen Stock Exchange enquiry letter that it was currently negotiating a contract with a prospective accounting firm.

In November 12th, the price of the island was low, at 2.7 yuan / share, which was below 1 yuan, and there was a 10 limit.

It is reported that the investor claim is on the way. Xu Feng, senior partner of Shanghai Chuang yuan law firm, told the twenty-first Century economic news reporter, "in response to suspected financial fraud in July this year, we have received more than 100 claims from investors, but it has not yet been formally filed. It can be formally submitted to the court when the Commission's punishment comes to fruiting."