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Original title: After 6 consecutive daily limits ST Asia StarAbandon the purchase of the Jingzhi liquor business
Every time the reporter Peng Fei Every time the editor Zhang Haini
Just a week after the official announcement, ST Asiastar (600319, SH; yesterday’s closing price of 7.24 yuan) announced the completion of the acquisition of Jingzhi-related businesses, and the fate of “Shandong Baijiu Yige” and the market of A shares was again stranded.
On the afternoon of January 17, ST Yaxing issued an announcement announcing the termination of the acquisition of the operating assets of the liquor business of Shandong Jingzhi Liquor Co., Ltd. (hereinafter Jingzhi Liquor). Regarding the reasons for the breakup, ST Yaxing indicated that on January 17, the two parties to the transaction continued to negotiate again on the scope of the underlying operating assets involved in the core of the transaction, especially if the derivative operating assets involved in the liquor business were included in the scope of this acquisition. The two parties could not reach an agreement.
The “Daily Economic News” reporter noted that there was only one week between the official announcement and the completion of the transaction. However, prior to the announcement on the evening of January 10, ST Yaxing’s stock price had already “flown”. From January 8 to January 15, the price of the shares of this company whose main business stopped producing registered 6 consecutive daily limits.
After the announcement on the evening of January 10, ST Yaxing received two consecutive inquiry letters from the exchange. The exchange asked ST Yaxing to explain the main background and considerations of the cross-border acquisition. The exchange also required the company to submit control rights. Change and plan insider list for cash acquisition.
Abandon the purchase of the Jingzhi liquor business
After repeated questions from the exchange, ST Yaxing, who has yet to respond, suddenly announced the completion of planning for a major asset reorganization involving the liquor business.
On January 17, ST Yaxing released the “Announcement on the completion of major asset restructuring planning” and announced the completion of the acquisition of the operating assets of Jingzhi Liquor Industry Liquor Business.
From the official announcement to the completion of the transaction, there was only one week. A week ago, on the night of January 10, ST Yaxing issued 12 announcements in a row and successively released news about changes in control of the company and plans for a major asset restructuring. And this major asset reorganization may allow ST Yaxing to go directly into the liquor business.
ST Yaxing’s announcement revealed that on January 9, the listed company and Jingzhi Liquor Industry signed the “Cooperation Intent Agreement”, and both parties agreed that the listed company or its subsidiary would acquire the operating assets of Jingzhi Liquor Industry Liquor Business by cash acquisition. .
At that time, Jingzhi Wine Industry had just joinedThis world(603369, SH; yesterday’s closing price of 57.36 yuan) “Fate is over” soon. However, compared to the failed acquisition of Jinshiyuan, under the promotion of Weifang state assets, the success of ST Yaxing in the acquisition of Jingzhi Wine Industry is considered to be more likely. In communicating with the “Daily Economic News” reporter, a senior executive from Jingzhi Wine Industry said that the acquisition of ST Yaxing was mainly promoted by Weifang state assets.
However, this “love story”, which was considered more successful, soon came to an end. ST Yaxing stated in the announcement that on January 17, 2021, both parties to the transaction continued to negotiate again on the scope of the underlying operating assets involved in the core of the transaction, especially for the derivative operating assets involved in the liquor business. (cultivation of liquors, cultural tourism). The two parties did not reach an agreement on the inclusion of industrial assets, etc.) in the scope of this acquisition.
Receive two inquiry letters in one week
For this relationship that lasted less than a week, ST Yaxing revealed that the two parties failed to reach an agreement on the scope of the acquisition, but other aspects of the transaction came to the attention of the exchange.
On January 11, the day after ST Yaxing revealed the acquisition of businesses related to the Jingzhi winery, ST Yaxing received an inquiry letter from the Shanghai Stock Exchange.
The “Daily Economic News” reporter noted that Jingzhi Wines did buy ST Yaxing shares. ST Yaxing’s announcement on January 15 shows that Jingzhi Winery will increase its holdings of 209,400 shares of publicly traded companies from December 28, 2020 to December 31, 2020, with an average trading price of 5.02 yuan. per share; Jingzhi Wines commissioned the Beijing Yufengtang Business Service Center (Limited Partnership) to increase its stake in 1.5544 million shares of listed companies from December 18, 2020 to January 5, 2021, with an average transaction price of 5.24 yuan per share.
Regarding the reasons for the increase in holdings, the information disclosed by ST Yaxing shows that after the termination of cooperation with Jinshiyuan in December 2020, the Jingzhi wine industry is still actively looking for suitable opportunities to connect with the market. capital, hoping to use the advantages of the capital market to achieve the development of the company. Helujiu revitalized and sought to promote cooperation with listed companies by increasing their holdings of no less than 5% of the shares of listed companies and recommending director candidates to the board of directors of listed companies .
At the same time, Jingzhi Liquor Industry stated in its “Notification Letter” issued to ST Yaxing on January 14 that the purchase of ST Yaxing shares by Jingzhi Liquor Industry was mainly due to the fact that there was no actual controller before the publicly traded company. The implementation of the unilateral decision to increase shareholding made through strategic cooperation with listed companies and win-win development. With Weifang City Investment Group becoming the majority shareholder of the listed company, Jingzhi Wines achieved cooperative intentions with all parties and achieved strategic goals.
Jingzhi Liquor Industry stated that on January 8, 2021, ST Yaxing and Jingzhi Liquor Industry reached a preliminary cooperation intention. On January 9, 2021, the two parties formally confirmed and signed the “Intent to Cooperate Agreement”. Since the formal contact with the parties of the original intention, Jingzhi Wine Industry has stopped buying ST Yaxing shares.
However, around the same time that ST Yaxing received the “Notification Letter” from Jingzhi Liquor Industry, ST Yaxing received another inquiry letter from the Shanghai Stock Exchange on the night of January 14, requesting the listed company in the stock market combining reorganization planning and Jingzhi. The main purpose and the specific time of the alcoholic beverage industry and its related parties purchasing the shares of the publicly traded company, checking for violations such as insider trading, clearly explaining the impact of the industry surge of Jingzhi alcoholic beverages in the holdings of the company’s major asset acquisitions and fully recalling the possible termination risks of.
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