* ST colin controls people into 'LaoLai', executives to resign the shenzhen stock exchange to ask how the ability to continue as a going concern

On July 18, the company and controls li dong was faithless person subjected to execution list, on July 19, * ST colin and disclose the debt which fails to repay the announcement, said by the announcement of disclosure, the company and its subsidiaries total overdue debts total amount is about 2. Net worth of 0. 8 billion yuan, accounting for the end of 2018, 103. 82%. * ST colin or face & other; Insolvency & throughout; The passive situation.

on July 22, the above two things, the shenzhen stock exchange issued a letter of concern. * ST colin means that lead to part of the company account and the money was frozen to timely payment, cause be faithless person subjected to execution list beginning and end of the paper recourse dispute.

on July 18, a 'about the company and the actual controllers was faithless person subjected to execution list the announcement of the * ST colin from debt pushed deeper in the mire.

announcement, China executive information network of the public information display, because new fusing glass co. , LTD and fujian * ST colin, CLP electric ( Shanghai) Solar energy technology co. , LTD. Paper recourse dispute, resulting in part of the company account and the money was frozen, unable to fulfill its obligation to pay within the time specified, * ST colin companies and actual controllers li dong was faithless person subjected to execution list, and have been issued to limit consumption, * ST colin restriction and actual controllers li dong high consumption and the life and work must be of consumer behavior.

the shenzhen stock exchange on functional requirements * ST colin details and new fusing glass co. , LTD. , fujian CLP electric ( Shanghai) Solar energy technology co. , LTD. The paper recourse dispute took place, cause, the verdict, the company in the case of accounting treatment and influence on the current operating performance, part of the company account and the money was frozen to fulfill its obligation to pay the specific influence, as well as the company intends to take measures and so on.

although * ST colin announcement, three executives quit all belong to personal reasons, resigned from the board will not lead to the board of directors of the company after the number below the legal minimum number, will not affect the normal operation the board of directors, the shenzhen stock exchange issued a letter of inquiry, * ST colin means that a number of executives and directors to resign to the company daily management and the possible impact of the company in order to ensure the normal operation is proposed to take measures, etc.

* ST, said colin Wan Jianmin, Mr Michael lee after he resigned as director does not lead to the board of directors of the company to fall below the statutory minimum number, will not affect the normal operation board. And stressed that the company did not officially appointed the new general manager and board secretary, will be chairman of the board of directors of the company li dong on behalf of general manager and board secretary duties.

the losses in 2018, after 2019 years of profitability is also worrying. According to * ST colin net profit in the first half of 2019, according to the announcement is expected in January Losses of $19 million - June Is the profit of 28 million yuan 24 million yuan, and the same period last year.

for the cause of the decline in performance, * ST colin said was due to early have mat endowment building photovoltaic power station failed to mat endowment money to recover the loan, caused the company operating funds shortage, at the same time, the photovoltaic (pv) policy and the influence of such factors as the liquidity squeeze, photovoltaic power station greatly restricted the company related to development, the construction scale of the project, which affect the overall sales revenue and net profit growth, operation and management cost, depreciation, amortization, interest expenses such as rigid expenditure is not less, affect the current net profit.

data show that as of July 19, 2019, * ST colin and accumulative overdue debts total amount about 2 of the subsidiary. Net worth of 0. 8 billion yuan, accounting for the end of 2018, 103. 82%, in & other; Insolvency & throughout; To the edge.

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