After ST A After waiting for the outbreak of stag

After ST A: After waiting for the outbreak of stagnation


progress made so far, following

* ST A (000922) died through the introduction of strategic investors and the controlling shareholder wishes to transfer a controlling stake at a standstill after the farce stage.



possible trends

1. Harbin Power Group A, following the transfer of a controlling interest * ST, * ST A HPEGC following the end was in violation of the share reform commitments possible.

2. Harbin Power Group following the merger * ST A, while A shares in the IPO issue of new shares listed as a whole, difficult, not impossible.
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case research S T A blog following the sharp: pipes, after stagnation in the waiting line management outbreak.

2008 年 1 月 16 日, * ST A correction notice following the results release said, because the company Dec. 28, 2007 received HPEGC Harbin transferred to the Company's financial Bureau 2007 fiscal subsidies 70 million yuan, according to annual financial newsletter company in 2007, is expected during the performance forecast profit 500 million. Profit in 2007, indicating that * ST A suspended following the currently listed without fear.

* ST A following the June 18, 1999 at the Shenzhen Stock Exchange, and its slightly better performance than the first few years in addition to listing, and then began to accelerate down. First quarter of 2005 from the beginning, * ST A has embarked on a loss following the trip had not achieved profitability, it may be suspended from listing its foreshadowed. Therefore, the Harbin Municipal Finance Bureau of the financial subsidies as

However, * ST A, following the restructuring of the road is not smooth.

tortuous restructuring

in Harbin Power Plant Equipment Group Corporation (HEC Group) shot before, * ST, following the controlling shareholder of A following the Group A, Group A following the HEC Group a wholly owned subsidiary, Harbin Power Group is following the actual * ST A controller.

* ST A body has many listed companies following the Following the Group A was the controlling shareholder of the highest quality of its assets into listed companies, their profitability and not the source of funds, so the listed company and to bear, which virtually increase the burden and pressure of listed companies, also makes * ST A following overwhelmed. Following the occupation of the Group A listed company has accumulated more than 448 million yuan of funds, the huge burden that ultimately broke the listed companies.

heavy debt burden for listed companies, operating at a serious crisis situation, * ST A, following the Board of Directors to determine the main tasks in 2006, will introduce strategic investors as the most important task, and hope implemented within the year to resolve a large bank liabilities and shareholder funds used and the historical burden of enterprises and other issues.

wish the board of directors of listed companies is undoubtedly good, the direction it should be said is correct. Listed companies with the intention of several investors had initial contact, including Harbin Dongfang Group Co., Ltd., Zhejiang Island Group Co., Ltd., etc., but ultimately did not reach substantive cooperation intention, nor sign any letter of intent or related agreement. * ST A, following the introduction of strategic investors want to die and the scheme, its future is also uncertain.

HEC Group back to the front

from major shareholders and related parties of funds of listed companies has been one of the major ills of the market, investors were also widely criticized. Following the Group and its subsidiaries in accordance with A status at the time, to the return of occupied huge amounts of money, apparently reluctantly. Moreover, huge amounts of money to be occupied by listed companies in the context of, * ST A, following the share reform can not start. In 2006, the last time, * ST, following the actual control of Arab people HPEGC finally shot.

actual control to the front from the back, for the debts of listed companies, the share reform, restructuring the implementation of the Harbin Power Group and the Arab Group is committed to following the debt settlement program, the Arab League to the HEC Group following the sale of the Group held 16,413.5 million * ST A following the stock, with the sale of the cash settlement of equity Big Shareholders 216 million; the same time , in consultation with the creditor banks, the Arab League following the Group on behalf of * ST E Jicheng way to pay off bank debt bear Big Shareholders 174 million. In addition, HEC Group is committed, if the above options can not be successfully implemented by the HEC Group in December 31, 2006 following the Group of Arab-Israeli settlement instead of funds used. According to * ST A

Following January 4, 2007 in Announcements, major shareholders of listed companies take huge amounts of money settlement is completed, but also for * ST A shares following the change cleared the way, and the HEC Group * ST A Following a controlling shareholder. March 16, 2007, * ST A following the split share reform program adopted to obtain the relevant shareholders meeting.

from December 22, 2006 * ST A significant matters to be disclosed following a suspension due to the April 11, 2007 implementation of the reform is completed and start trading, shares rose to 9.60 yuan from 3.71 yuan, or 174.91 %.

a hot

debts and have successfully completed the share reform, and the major shareholders also promised to

However, HEC Group did not October 8, 2007 * ST A, following the announcement that the controlling shareholder of Harbin Power Group intends to east trillion Changtai Investment Group Co., Ltd * ST A following the transfer of a controlling stake. And before that from April 11, 2007 implementation of the reform is completed to 28 September, company's share price rose to 16.41 yuan from 9.60 yuan, or 88.56%.

2007 年 10 月 18 日, * ST A Following the promulgation of a late notice, holding the end of the transfer of large shareholders the right to act. October 30, * ST A general meeting of shareholders following the announcement of the resolutions of the major shareholders to fulfill commitment to the share reform is still not words only. Resume trading from 18 to 30, daily limit for 7 days, * ST A market value evaporated following the circulation of about 8.4 billion.

Although the transfer did not take place eventually, but the HEC Group in clear violation of the general question. Commitment due to violations of the share reform has to bear the relevant responsibilities,tory burch sale, HEC Group For the purpose of the transfer of a controlling interest is not met.

HEC Group reason want to * ST A controlling interest in following the hand over, because at that time committed to the automatic control of related assets into a certain degree of difficulty, the asset has already been allocated to the HEC Group in Harbin Power Hong Kong's listed companies. * ST A and will have following the October 18 announcement,

assets into the barriers, the transfer of control and violation of a commitment to fulfill its commitments and not have to bear the relevant responsibilities, * ST A following the HEC Group will undoubtedly become a hot S T A blog following the sharp: pipes, after stagnation in the waiting line management outbreak.

* ST A following will go from here?

far, Harbin Power Group assets * ST Afghanistan following the injection of the lack of progress in the slightest. Listed companies is that the controlling shareholder of Harbin Power Group will strictly carry out the share reform commitments not to transfer the lock-up period following the * ST A controlling interest in and advance to the * ST A way of following the reorganization of assets, the maximum protection of the interests of all shareholders.

However, the ban is not for sale * ST A period following the holding power, does not mean that is no longer for sale after the expiration of the ban. April 11, 2008, HEC Group for 12 months period of the transfer of shares will be filled, who knows whether it will repeat the transfer of the story? Of course, if the HEC Group * ST A final transfer of the controlling interest in following in the previous work has not started the reorganization of assets to achieve strategic transformation of listed companies, then the share reform of its breach of promise will be an indisputable fact. * ST

placed in front of the fate of Afghanistan is simply following the following categories: A, HEC Group A following the injection of quality assets, the first recovery of hematopoietic function, the problem is, HEC Group itself has no quality assets ; II, HEC Group, following the transfer of * ST A controlling stake, and one violation of the commitments may share reform; third, following the merger * ST A, while A shares in the IPO issue of new shares listed as a whole, difficult, not impossible; four , to borrow the Hong Kong-listed Harbin Power A-share market to return to Afghanistan following the rescue; V, * ST E Jiwei the status quo, continue to suffer years of losses in the suspension of listing and final until after the delisting, the securities market completely and say