On July 31, *ST (300506.SZ) issued a progress and risk warning announcement on the court's decision to start the company's pre-reorganization procedure and appoint a pre-reorganization administrator.
On May 17, Shenzhen Mingjiahui Technology Co., Ltd. received the "Notification Letter" from the creditor Zhongshan Guyue Lighting Manufacturing Co., Ltd. (hereinafter referred to as the "applicant"), the applicant applied to the Shenzhen Intermediate People's Court for reorganization of the company on May 1 on the grounds that the company could not pay off the due debts and obviously lacked solvency, but had reorganization value, and at the same time applied for the start of the pre-reorganization procedure.
On June 4, Mingjiahui received the Notice of Hearing issued by the Shenzhen Intermediate People's Court, and the court conducted a hearing and investigation on the reorganization case on June 12.
On July 30, Mingjiahui received the (2024) Yue 03 Po Shen No. 481 "Decision" issued by the Shenzhen Intermediate People's Court, and the court decided to start the pre-reorganization procedure for the company.
According to the official website, Mingjiahui was established in 2001 and is an investment and operator of smart city and cultural tourism night tour lighting. In March 2016, Mingjiahui was listed on the Shenzhen Stock Exchange, becoming the first independent listed company in the lighting engineering industry.
From 2020 to 2023, Mingjiahui's revenue will be 513 million yuan, 547 million yuan, 123 million yuan, and 81.1264 million yuan respectively; The net profit attributable to the parent company was -350 million yuan, -538 million yuan, -475 million yuan and -376 million yuan respectively.
From 2020 to 2023, the asset-liability ratios of Mingjiahui will be 52.22%, 54.14%, 64.73%, and 85.09% respectively.