Staged “farmer and snake”, Yasha shares defaulted lost the lawsuit
Yasha Shares (002375.SZ) in recent 3 months, it can be said that it has entered the “turbulent autumn” after the announcement of a loss of more than 900 million yuan in the annual report.On April 2, he was listed as the executioner by the court, and two days later, he lost the lawsuit in the dispute of unjust enrichment. He not only had to pay 100,000 yuan in compensation on schedule, but also had to pay legal costs.The lawsuit is pending, and the bidding of the project is not smooth. In the public announcement of the construction project of gulou District Public Health Center in Nanjing, Yasha Was not shortlisted and lost the bidding qualification, which cast another shadow on the already poor performance.It is reported that Yaxia Shares forecast a net loss of 738 million yuan to 928 million yuan in 2021, 332.46%-392.31% lower than the same period last year, its explanation said, mainly due to the impairment loss of Evergrande and property developers in the scope of the national three red lines related to receivables, contract assets, etc.About $1.25 billion in commercial acceptance bills, accounts receivable, contract assets and inventories were involved.It is difficult for Yasha to come up with a better solution to this situation.Staged “farmer and snake” Yasha shares of the recent dynamic many, but there is little good news.Since April, only 7 days, Yasha shares has added 7 court hearings or filing announcements, identity are defendants, cases involving labor contract disputes, decoration contract disputes and construction project construction contract disputes.On April 2, Yasha Was listed as the person subject to execution by weiyang District People’s Court of Xi ‘an, Shaanxi Province, with the execution target of 10,663 yuan and the execution case Number (2022) Shaanxi 0112 with 3615.Leju Finance learned that up to now, Yasha Has been involved in more than 2,000 judicial cases, with 2,292 judicial documents and a total amount of 920 million yuan, the most cases involving disputes over sales contracts.Among the larger lawsuits, one involving Yasha shares attracted attention.The appellant of the case is Yixian Rural Commercial Bank Co., LTD., and Yaxia Is the defendant. The cause of the case is the dispute of unjust enrichment.According to the ruling, Yixian Rural Commercial Bank contracted the decoration project of its office building to Yasha In June 2013.After the completion and acceptance of the project, there were many petitions from migrant workers, claiming that the project was in arrears of migrant workers’ wages. At the request of relevant departments, Yixian Rural Commercial Bank paid the migrant workers’ wages in advance.However, Yasha refused to deduct the payment and argued in court that there was no factual and legal basis for the alleged advance payment by YIxian Rural Commercial Bank, and the company did not give yixian Any authorization.The court ordered Yasha to return 100,000 yuan within 10 working days and bear legal costs.Performance “Waterloo” sued Party A in court for 100,000 yuan, and finally lost the lawsuit. Yasha Shares’ trip was really not worth it.I do not know whether affected by this, Yasha shares recently undertake government projects is not very smooth.Also on April 2, the construction project of public Health Center in Gulou District of Nanjing was publicized, and Yasha Was listed in the list of unshortlisted enterprises, thus losing the bidding qualification of the project.This will undoubtedly give Yaxia shares already not optimistic performance add gloom.January 29, Yasha shares released the 2021 annual performance forecast, is expected to belong to the listed company shareholders of the net loss of 738 million yuan – 928 million yuan, 332.46%-392.31% lower than the same period last year;Excluding non-recurring gains and losses, the net loss was 810 million yuan to 1 billion yuan, down 436.45% to 515.36% compared with the same period last year.For such a large change in performance, Yaxia Shares said that the main reason was the provision of impairment losses to Evergrande and the relevant receivables and contract assets of real estate developers included in the scope of the three national red lines.About $1.25 billion in commercial acceptance bills, accounts receivable, contract assets and inventories were involved.And there are more hidden risks, Mr Yasha admits.In view of the fact that a large number of commercial bills issued by Evergrande have begun to default, it is not highly possible for evergrande to take the initiative to honor all the bills due, so it cannot be ruled out that the bill holders require the company to bear the legal responsibility as an endorser.It is difficult to see a large-scale rebound in the upstream real estate industry in a short period of time. Yasha Shares has billions of yuan in receivables, and recovery is far from expected. However, its own operation has to continue, and the operation of reducing and pledging equity to finance “replenishblood” has increased.On April 6, Yasha Announced that as of March 31, 2022, it had reduced the number of shares held by centralized bidding by 13.4 million shares, accounting for 1% of the total share capital. The total amount of funds obtained from the reduction (the transaction amount of the reduction) was 99.681 million yuan, and the maximum price of the reduction was 7.94 yuan per share.In addition, Leju finance learned that Yasha shares have a number of equity pledges.The number of pledged shares reached 242 million, and the pledged market value was 1.386 billion yuan. The number of pledged shares reached 20, accounting for 18.05%.However, the stock price of Yasha Shares has been on a downward trend. Data show that the stock price of Yasha shares has been on a downward trend since the beginning of 2022. By the end of April 7th, Yasha shares reported 5.68 yuan, a one-day drop of 3.73%.It was down nearly 25% from December 31, 2021, and 34.3% from the same period last year.