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Teng state by international creditors file for bankruptcy liquidation

Date: 2020-04-22

On April 21, teng international bond announcement said received the attention of the shenzhen stock exchange, its just like swimming CITS in detail.

Negative incidents last year with teng international bond, finally came to the edge of bankruptcy.On April 21, late at night, teng international bond announcement, according to the company on April 17, receive the shenzhen intermediate people's court of guangdong province (hereinafter referred to as the "guangdong court") (2020) of guangdong 03 to break the "notice", 105 ".The notice said the applicant China citic bank co., LTD. Shenzhen branch to apply for bankruptcy liquidation to the company.Teng international bond said, the company has the opposed before the court on April 17, is currently actively communicate with creditors.

Announcement shows that the applicant is China citic bank co., LTD., shenzhen branch, with the company, which was signed on July 17, 2018, the comprehensive credit contract and supplementary agreement, RMB 300 million comprehensive credit, term since July 17, 2018 and ends on July 4, 2019.After signing the contract, the applicant total 14 amount of working capital loans issued to the company 300 million yuan.As of this announcement, loan principal and interest and the payment has not been returned.Teng international bond said, according to the law of the People's Republic of China on enterprise bankruptcy law, the relevant provisions of the application for bankruptcy, creditors belongs to the debtor involuntary bankruptcy, for the protection of the rights of the debtor and creditors bankruptcy application right abuse, set up dissent procedure law.After the debtor objection, the court accepts the bankruptcy petition or through examination shall not accept the bankruptcy petition.Whether or not the court accepts the bankruptcy application of creditors, the company will be based on the existing positive to do a good job of day-to-day operations.

Teng international bond said the company bankruptcy liquidation application was accepted by the court, whether does the company into bankruptcy liquidation is significant uncertainty.And on April 20, teng international bond announcement also said that a subsidiary or swim CITS has been out of control, the company refused to cooperate with teng international bond and careful accounting of its 2019 annual financial statements of the audit work, leading to its 2019 annual audit work properly, the company will no longer like swimming CITS incorporated into the scope of consolidated financial statements.On April 21, teng international bond announcement said received the attention of the shenzhen stock exchange, its just like swimming CITS in detail.

Last year, teng state frequent international capital chain rupture, default employee wages, bond defaults and a series of negative rumors.In late August of last year, teng teng international bond and its subsidiary state aviation services, teng state tourism group, teng state electronic business, a total of four companies have also been, iata canceled passenger agent qualification.According to the iata's announcement, on June 10, 11, 2019 related subsidiary of teng international bond sales outstanding amount has reached 90% of its warranties.According to the authorization of airlines and the international air transport association A1.8 of 818 g resolution attachment, will notify each GDS suspended teng international bond BSP cash sales permissions.It is thought that "notify the GDS suspended its iata BSP cash sales permissions" basic means, a decision that rich and ticket agent for a long time as the main business of teng international bond, the future can't get the ticket from iata resources and distribution, the business or is facing situation.

In 2019, according to data teng international bond first encounter performance loss.Teng state international business income of 3.369 billion yuan last year, fell 31.04%.Operating profit loss of 1.611 billion yuan, fell by 717.98%;Belonging to net profit fell 1041.36% to 1.579 billion yuan, this means that teng state listed international will be posted after the first loss.

In this year, teng international bond is still not out of trouble.Recent statistics show that so far, teng international bond with a total of 58 cases, which this year new 15 cases, mostly contract dispute, the cumulative amount of litigation of 1.736 billion yuan.Meanwhile, teng international bond in the first quarter of 2020, according to preliminary results expects between January 2020 and march net profit attributable to shareholders of listed companies losses of $65 million to $70 million, and in the same period of last year profit of 20.7097 million yuan.