Table 4.
Adjustments of equities and claims under the self-management by debtors of some listed companies in China.
| No. | Abbreviation | Adjustment of equities | Reduction ratio of ordinary claims | Controlling details |
|---|---|---|---|---|
| 1 | *ST Huayuan (2008/12/1737) | All holders' shares cut by 25% | 88% | Xi’an Puming Logistics Trade Development Co., Ltd. (private enterprise) |
| Major shareholder cut equity by 87% and the others by 24% | ||||
| 2 | *ST Shengrun (2010/10/22) | Major shareholder cut by 77% | 69.95% | Controlling shareholder Laiyingda Group (wholly state-owned) |
| Medium&Minor shareholders did not adjust | ||||
| 3 | *ST Hongsheng (2012/4/24/) | None. | 88% | Xi’an Puming Logistics Trade Development Co., Ltd. (private enterprise) |
| 4 | *ST Fangxiang (2012/5/16) | Major shareholder cut by 66.67% | 80.32% | Major shareholder Beitai Group (private enterprise) |
| 5 | *ST Kejian (2012/5/18) | The first and second major shareholders cut by 40% | Large amounts by 64.75% | Kejian Group (wholly state-owned) |
| Small amounts by 50% | ||||
| 6 | *ST Jincheng (2012/5/22) | Major shareholder cut by 30% | Amounts ≤ 100,000 by 0 | Jinzhou Xintian Paper Co., Ltd. (Sino-foreign joint venture) |
| Other shareholders cut by 22% | Amounts > 100,000 cut by 95% | |||
| 7 | *ST Zhonghua (2013/11/5) | The first and second major shareholders cut by 10% | 69.33% | Shenzhen Guosheng Energy (private enterprise) |
| Other shareholders cut by 8% | ||||
| 8 | *ST Xinyi (2015/12/31) | Capital reserve converted into equity | Ordinary claims shall be paid off at one time within the execution period of the reorganization plan following the adjustment plan. | Xinjiang Wanyuan Huijin Investment Holding Co., Ltd. (not the state-owned legal person) |
| 9 | *ST Fugang (2018/11 22) | Capital reserve converted into equity | Amounts <=RMB500,000 shall be paid off in cash at one time; Amounts > RMB500,000 shall be retained and repaid by equity. | Northeast Special Steel Group (state-owned legal person holding shares) |
| 10 | *ST Deao (2020/4/22) | Capital reserve converted into shares | For each creditor, Amounts <= RMB500,000 shall be paid off in cash; Amounts > RMB500,000 shall be paid with 85% in cash and exempt the rest by Deao Navigation. | Beijing Wutong Xiangyu Investment Co., Ltd. (not the state-owned legal person) |
| 11 | *ST Dafu (2021/8/10) | Capital reserve converted into equity | Amounts < RMB200,000 shall be paid off in cash; Ordinary creditor’s financial rights shall be paid off with shares. | Yulian group (not the state-owned legal person holding shares) |
| 12 | *ST Daji (2021/10/31) | Capital reserve converted into equity | Amounts <=RMB10,000 shall be paid off; Amounts > RMB10,000 shall be paid off with shares. | HNA Commercial Holding company (state-owned legal person holding shares) |