65438+1October 19, Zhongtian Finance announced that it expects the net profit loss attributable to shareholders of listed companies to be/kloc-0.25 billion yuan to/kloc-0.39 billion yuan in 2022. It is estimated that the net assets will be negative at the end of 2022, and the company's stock trading may be warned by Shenzhen Stock Exchange after the disclosure of the 2022 annual report.

When the news came out, the market was in an uproar. It is reported that the main reasons for Zhongtian Financial's pre-loss are liquidity problems, stock real estate projects failing to meet expectations, and the decline in the performance of financial subsidiaries.

For financial subsidiaries, "Zhongtian's financial net assets may be negative" is not good news. If the future net assets are determined to be negative after the audit, a series of problems will arise, such as the qualification of shareholders of financial institutions.

As of the close of 65438+ 10/9, Zhongtian Finance closed at 1.62 yuan/share, with a total market value of113.5 billion yuan. By the end of the third quarter of last year, the total number of shareholders was190.4 million.

Or be warned of the risk of delisting.

On June 65438+1October 19, Zhongtian Finance released its performance forecast. According to the company, it is estimated that the net profit loss attributable to shareholders of listed companies will be 654.38+0.25 billion yuan to 654.38+0.39 billion yuan in 2022, a loss of 94.82%-654.38+0.6 billion yuan over the same period of last year. The basic earnings per share for pre-loss is 1.7897 yuan-1.438+0 yuan.

Another news worthy of attention is that Zhongtian Finance's net assets may be negative. The company said that the owner's equity attributable to the parent company is expected to be-609 million yuan to-2009 million yuan in 2022. As the net assets at the end of 2022 may be negative, according to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), Zhongtian Financial's stock trading may be warned of delisting risk by Shenzhen Stock Exchange after the disclosure of the 2022 annual report.

When it comes to the performance loss in 2022, Zhongtian Financial explained that there are four main reasons:

1. Due to the superposition of macroeconomic environment, industrial environment and financing environment, the liquidity of the company is tense in stages, resulting in some debts not being repaid as scheduled. According to the contract, the company accrued interest, penalty interest, liquidated damages and other expenses, and the borrowing expenses included in the current profit and loss increased compared with the same period of last year.

2. The company's stock of real estate projects failed to meet expectations, and the real estate sales revenue carried forward in this period decreased compared with the same period of last year.

3. Due to the changes of macro-market policies, the industry environment of the invested company and other factors, the foreign investment income of financial subsidiaries decreased compared with the same period of last year.

4. The income of investment banks such as consultants and underwriters of wealth management subsidiaries decreased compared with the same period of last year, and their profits decreased.

As early as the first half of last year, Zhongtian Finance indicated that in the second half of 2022, the company will optimize the company's asset structure by continuing to promote asset sales, introducing strategic investors, improving asset allocation efficiency, revitalizing existing assets, speeding up asset disposal, and speeding up the recovery of accounts receivable, so as to continuously strengthen its operating ability and risk resistance, ensure the company's cash flow stability, promote the steady development of financial business, and strive to improve its operating performance.

But at present, many plans are not progressing smoothly. For example, Zhongtian Finance planned to sell the equity of Zhongtian Chengtou Group Co., Ltd.100 as early as 202 1. Later, only the first equity transfer price158 billion yuan was received, but the second equity transfer price and the third equity transfer price were not received. On June 27th, 2022, 10, the company signed an agreement with the transferee to terminate the sale of Zhongtian Chengtou 100% equity.

What about the financial map?

In addition to the real estate business, the financial map of Zhongtian Finance has also received market attention.

On 20 15, Zhongtian Finance started its strategic upgrade and began to lay out its financial business. Later, it obtained financial licenses such as insurance and securities, and transformed into a development model in which real estate business and financial business kept pace.

According to public information, Zhongtian Financial Holdings Zhongrong Life Insurance mainly engages in life insurance, health insurance, accident insurance and other personal insurance businesses, and has set up 24 branches in Beijing, Shanghai, Tianjin and Guangdong. Zhongtian Finance is still planning to acquire Huaxia Life Insurance, but it has been planned for five years and has not been successful so far.

Zhongtian Finance also holds a brokerage license. The main business of Zhongtian Guo Fu Securities, a holding subsidiary, is securities underwriting and sponsorship, securities brokerage and securities self-management. We have set up 20 branches in Shenzhen, Hunan and Jiangsu.

However, if Zhongtian Finance determines that its net assets are negative after the future audit, the news will adversely affect its expansion of financial territory and its shareholder qualification will be tested.

At present, the supervision of financial licenses continues to tighten, and in recent years, the regulatory authorities have put forward higher requirements for shareholders' conditions. In order to hold a financial institution license, enterprises need to have strong capital strength.

According to the Measures for the Administration of Equity in Insurance Companies, a major shareholder who holds more than 65,438+05% or less than 65,438+05% of the equity in an insurance company but directly or indirectly controls the insurance company needs to meet the following conditions: First, it has the ability to continuously contribute capital and has been making profits in the last three fiscal years; Second, the financial strength is strong, and the net assets are not less than 200 million yuan; Third, it has a good reputation and is in a leading position in the industry.

In the field of securities, according to the Regulations on Equity Management of Securities Companies, the largest shareholder and controlling shareholder of a securities company must at least meet the requirements of "good financial condition, moderate asset-liability level, net assets of not less than 50 million yuan, and continuous capital replenishment ability matching the business of the securities company", and at the same time, "there is no net assets less than 50% of the paid-in capital, contingent liabilities reaching 50% of the net assets, or inability to pay off debts due.

As the controlling shareholder of financial institutions, Zhongtian Finance's future changes in net assets deserve continuous attention.