The stock price of Jinke Co., Ltd. has fallen continuously, controlling shareholders and executives plan to increase their holdings

Beijing News (Reporter Yuan Xiuli) On May 25, Jinke Real Estate Group Co., Ltd. (“Jinke Shares”) issued an announcement on abnormal fluctuations in stock trading.

It is reported that on May 22, May 23, and May 24, for three consecutive trading days, the closing price of Jinke shares has fallen by more than 20%. In this regard, Jinke shares stated that there is no need to correct or supplement the information disclosed by the company in the early stage; the company has not found any undisclosed major information that may or has had a greater impact on the company’s stock trading price in recent public media reports.

As of now, Jinke shares and its subsidiaries have added a total of 2.125 billion yuan of debt principal that has not yet been paid. The company has completed a total of 31.614 billion yuan of interest-bearing debt period adjustment work, including 12 open market debts, involving a principal of 11.795 billion yuan.

It is noteworthy that on May 22, Jinke Co., Ltd. received the “Notification Letter” from Chongqing Duanheng Construction Engineering Co., Ltd. (referred to as “Duanheng Construction”). Duanheng Construction believes that although Jinke shares cannot pay off due debts and obviously lacks solvency, as a listed company, Jinke shares still have certain reorganization value, so they applied to Chongqing Fifth Intermediate People’s Court for reorganization of the company . Whether the application can be accepted by the court and whether the company will enter the reorganization procedure still has major uncertainties.

At the same time, Jinke shares stated in the announcement that the company received a notice on May 22 from the controlling shareholder Jinke Holdings’ plan to voluntarily increase its shareholding in the company. Jinke shares mentioned that due to the recent sharp drop in the stock price, it has seriously deviated from the company’s fundamentals. The controlling shareholder Jinke Holdings has taken active and effective measures to promote the resolution of debt risks and stabilize the healthy development of the company. Confidence, and plans to use its own funds to increase its shareholding in the company through centralized bidding in the secondary market.

It is reported that Jinke Holdings intends to increase its holdings within six months from the date of announcement of this shareholding increase plan to no less than 50 million yuan, and no more than 100 million yuan, and the increase price is not higher than 1.5 yuan per share.

In addition, on May 25, Jinke shares received a commitment from some directors, supervisors, senior managers and core backbones of the company, including Zhou Da and Yang Chengjun, to voluntarily increase their shareholding in the company. The announcement shows that in view of the recent sharp drop in the company’s stock price, it has seriously deviated from the company’s fundamentals and is seriously inconsistent with the company’s operating results and efforts made by the company. Within 6 months from the date of disclosure of the announcement, use self-owned funds to increase the company’s shares through centralized bidding in the secondary market.

Editor Yang Juanjuan

Proofreading Zhai Yongjun