On the evening of April 17, China Automobile Co., Ltd. (China Automobile, 838006) issued a notice about the response to the second inquiry letter of the national SME share transfer system, saying that due to the negative impact of the Ruixing Coffee incident, The emergence of financial institutions and suppliers is running out, and the company is actively communicating with all parties to minimize negative impacts and strive to maintain normal capital cooperation. Specific debt repayment is being arranged item by item. However, if a run-off occurs, it will cause great pressure on the company’s cash flow and even affect normal continuous operations.
Recently, three brokers have withdrawn from providing market making quotation services for UCAR stock. According to the announcement of UCAR, Kyushu Securities withdrew from providing market making quotation services for its stocks from April 16; CITIC Securities withdrew from providing market making quotation services to its stocks from April 14; prior to September 2019, Guotai Junan Securities exit provides market quotation services for its stocks.
It is worth noting that UCAR recently resold the stock of China Car Rental (00699.HK) it held recently. On April 9th, UCAR announced that 4,4666,000 shares of China Car Rental, which were held through its wholly-owned subsidiary UCAR Technology Inc. on April 3, 2020, should be sold on the secondary market at the request of the lender to use To repay part of the loan. On April 1, China Auto Rental announced that China Auto had entered into a sale and purchase agreement with Amber Gem Holdings Limited (hereinafter referred to as “Amber Gem”), and Amber Gem will acquire 17.11% of China Auto Rental in two batches.
On April 17, China Automobile also issued a notice that the company ’s shares will resume transfers from April 21. Previously, UCAR announced that the transfer will be suspended from April 7, 2020, and it is expected that the transfer will resume no later than May 6, 2020.
Shenzhou UCAR said that as of now, the company has checked related media reports and responded to and disclosed two rounds of inquiries in the stock transfer system. It also issued a clarification announcement that the company is in contact with potential investors regarding the transfer of equity held by Shenzhou Car Rental (00699.HK). In view of the fact that relevant matters have been fully disclosed and the suspension of trading has been eliminated, according to the relevant regulations such as the “National SME Share Transfer System Business Rules (Trial)”, “National SME Share Transfer System Listed Companies Suspension and Resume Transfer Business Guide (Trial)” and other relevant regulations, Upon the company’s application to the stock transfer system, the company’s stocks resumed transfer on April 21, 2020.
About Shenzhou UCAR