Kangdexin's book capital of 12.2 billion "suddenly disappeared", and the incident continued to escalate. The listed company and the Bank of Beijing even went to court.

As a result, one wave of ups and downs came after another, and the Carbon Valley project, which the major shareholder Kangde Group invested heavily in, also completely failed.

On the evening of July 31, *ST Kangde exposed its family scandal again. The actual controllers Zhong Yu, Kangde Group, and Kangde Xin evacuated all the investment projects through Kangde Group and its related parties.

This caused the joint-stock company Kangde Carbon Valley to issue an angry motion: requesting the cancellation of the shareholder qualifications of Kangde Xin and Kangde Group.

Unfortunately, Shandong Rongcheng State-owned Assets, which also participated in the investment in Kangde Carbon Valley, had its 2 billion investment in vain due to delays in funding from other shareholders.

It is reported that the planned investment amount of this project, which was once regarded as a world-class "carbon valley", is as high as 50 billion yuan.

Previously, the market had questioned that Kangde's new major shareholder had misappropriated funds to invest in the carbon fiber business. Now it seems that funds for projects such as Kangde Carbon Valley have been out of stock for a long time, and the whereabouts of the "disappeared" tens of billions of deposits are still a mystery.

The project company angrily withdrew its shareholder qualifications. Kangdexin, a listed company that has not yet solved the mystery of tens of billions of deposits, is in trouble again.

On the evening of July 31, *ST Kangde announced that after receiving the "Notice of Extraordinary Meeting of Shareholders" from the joint-stock company Kangde Carbon Valley, Zhong Yu, Kangde Group, and Kangde Xin passed the Kangde Group and its related parties.

All capital invested will be withdrawn.

Therefore, Kangde Carbon Valley held an extraordinary shareholders' meeting on July 19 and requested that Kangde Xin and its major shareholder Kangde Investment Group be disqualified as shareholders.

To put it simply, the major shareholder Kangde Group withdrew the amount of funds. Kangde Carbon Valley couldn't bear it and demanded that the shareholder qualifications of the "money-defying" shareholders be cancelled.

On October 13, 2017, *ST Kangde and related party controlling shareholders Kangde Group and Shandong Rongcheng State-owned Capital Operation Co., Ltd. jointly invested in Kangde Carbon Valley and signed the "Capital Increase of Kangde Carbon Valley Technology Co., Ltd."

protocol".

According to the agreement, the listed company *ST Kangde plans to increase its investment in Kangde Carbon Valley by 2 billion yuan, Kangde Group will increase its capital by 9 billion yuan, and Rongcheng State-owned Assets will increase its capital by 2 billion yuan.

After the capital increase, the three parties accounted for 14.29%, 71.42% and 14.29% of the total registered capital respectively.

Kangde Carbon Valley has a total registered capital of 14 billion yuan.

In October 2017, the above-mentioned three-party shareholders signed a supplementary agreement to adjust the Kangde Group's investment method to cash and its equity in Zhonganxin Technology Co., Ltd., which was completed before December 31, 2018.

According to information from Tianyancha, as of December 20, 2017, the paid-in capital of Kangde Carbon Valley was 4.2 billion, which included the investment funds of *ST Kangde and Rongcheng State-owned Assets, while the major shareholder Kangde Group only contributed capital.

200000000.

Subsequently, Kangde Group's unavailable investment funds "changed midway" again.

In December 2018, Kangde announced that due to the impact of the domestic financing environment and the unfinished adjustment of Zhonganxin's equity structure and audit evaluation work, Kangde Group has limited timetable for the arrival of registered capital of Kangde Carbon Valley and the placement of Zhonganxin's equity.

The time has been extended until June 30, 2019.

Now, according to the project company Kangde Carbon Valley, all funds from *ST Kangde and Kangde New Group have been evacuated, totaling 2.2 billion yuan.

According to the above announcement, in view of the disputes over whether *ST Kangde has implemented capital withdrawal, the specific method of capital withdrawal, and the specific amount of withdrawal, in order to protect the legitimate rights and interests of the company and all shareholders of the company, *ST Kangde voted on the relevant motions

No vote.

However, judging from the final voting results, the motion to revoke shareholder qualifications was still passed.

The RMB 50 billion Carbon Valley project was unfinished and Rongcheng State-owned Assets stepped on the Kangde incident. However, the unfinished work of the Kangde Carbon Valley project had already been revealed before the Kangde Group incident was exposed.

Looking back two years ago, the Kangde Carbon Valley in Rongcheng City, Shandong Province officially held a groundbreaking ceremony. Kangde Group Chairman Zhong Yu and a number of company executives attended the event in a high-profile manner. At that time, more than 600 domestic and foreign industrial and commercial banks, etc.

All the big names from all walks of life came to congratulate.

At that time, Zhong Yu called for building Kangde Carbon Valley into a "global leader in carbon fiber."

According to the official plan disclosed at the time, the Kangde Carbon Valley Project*** was constructed in five phases. The total investment and land area of ??the project reached 50 billion yuan and 6,600 acres respectively. It was jointly managed by Kangde Group, Kangde New Group, and Rongcheng Municipal Government*

**Constructed with the same investment.

After the Kangde Carbon Valley project is completed and reaches full production, it will have an annual output of 66,000 tons of high-performance carbon fiber, 168,000 tons of high-performance carbon fiber raw filaments, and 30,000 tons of high-performance carbon fiber composite materials. Annual sales revenue is expected to reach 100 billion yuan.

According to Weihai News Network, in order to strive for the implementation of the Kangde Carbon Valley project, Rongcheng City held 13 special meetings to study and solve related problems, and relevant departments went to the province to coordinate 24 batches.