Before and after the announcement of Feng River since the end of Tianlong photoelectric data Oolong

Yesterday, the Shanghai super day of a paper on Tianlong photoelectric (300029) announced the lifting of the announcement of cooperation, so that Tianlong photoelectric shares fell by 4.38%. Today, the Dragon photoelectric Clarification Announcement and this will be the strange triangle trading stir more complicated. In the announcement, Tianlong photoelectric not only for the secretive the terms of the settlement of both sides, but also for the incident in the end how much damage to the company's investors to carefully conceal mentioning, Tianlong photoelectric in the actual control of the company by the Feng family dominated delta deal damage is difficult to make full judgment.

The rescue plan fell through

Ultra day sun said yesterday's announcement, Tianlong photoelectric unilaterally announced the termination of cooperation agreement signed with the company seven months ago and today, Tianlong photoelectric also issued a notice to confirm this, and said it had agreed to terminate the cooperation with the ultra day sun bankruptcy administrator, business cooperation agreement between the two sides officially expired.

This means that Tianlong photoelectric and ultra day sun in the two delisting of listed company on the verge of rescue plan was officially scrapped.

In November 5, 2013, Tianlong photoelectric announced the signing of a cooperation agreement with the operation of ultra day sun, ultra day sun will set its wholly-owned subsidiary of Jiujiang super and ultra Luoyang related production line has been discontinued free to use two Tianlong photoelectric. During the cooperation, the ownership of the assets of the same, but the need for ultra day sun sun 50% of the relevant depreciation of fixed assets. In accordance with this agreement, Tianlong photoelectric bear the cost of depreciation of the production line of about 33 million 120 thousand yuan a year.

This was widely regarded as a win-win agreement in the paper, the two companies with the downstream industry, there is room for full cooperation. For ultra day sun, abandoned the production line can not produce any income, but the company annual provision of large fixed assets depreciation expenses for an imminent bankruptcy of the listed companies, each year thousands of yuan of fixed assets depreciation expense is unbearable; at the same time on the Yu Tianlong photo, as long as they can make an inventory of these assets, also can make a major contribution to the company's plans to protect the shell. After all, the dragon has been a huge loss of light, repeated restructuring fails, only one step away from the gem delisting the first shares.

Therefore, the agreement was understood to be outside in the two market edge of the listed company's cooperation and mutual aid plan.

Strange hand Trading

However, the market did not expect is that this paper is the ultimate responsibility for the actual operator is not a Dragon Optical listed companies, and soon became the company's actual controller of the son of Feng Jinsheng von Private Companies constant photoelectric.

After the above agreement announcement two weeks in November 22, 2013, Tianlong photoelectric suddenly issued a strange transaction, the content of the announcement is Tianlong photoelectric intends to all production line just got from where the ultra day sun all to take care of the constant energy photoelectric, and constant energy photoelectric is the Feng family Private Companies, its legal representative and actual control for the per capita.

In accordance with the contract, the constant energy photoelectric is required to pay an annual management fee of 36 million yuan to Tianlong Tianlong photoelectric photoelectric, more should bear annual for the production line of 33 million 120 thousand yuan of fixed assets depreciation has a slight premium.

Sustained attention Tianlong photoelectric restructuring plan Beijing a private person told reporters, after the completion of the transaction, the Tianlong photoelectric generously into a match with the constant energy photoelectric two ultra day sun company indirect cooperation intermediary, and every year only symbolically charged only 3 million yuan less than the "Commission", this also put themselves into which could have tremendous legal and investment risk.

"This is a typical triangular trade. Obviously, from the beginning, Tianlong photoelectric may not want to take over the ultra day sun above two production lines, it is only for the actual controller to the Feng family with ultra day sun sign tool, as to why the Feng family does not directly have to sign with ultra day sun, rather than going through the intermediate link of Tianlong photoelectric, medium the reason is probably the only Feng family in my heart the most clear. The analysis of the private person.

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