Nearly a year after the "NVC lighting storm" that had been raging, the company's stock finally resumed trading yesterday. Unsurprisingly, the stock price fell by nearly 35% in one day.
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In August 2014, NVC Lighting's founder Wu Changjiang and Dehao Runda and NVC Lighting Chairman Wang Donglei broke out in an upset that shocked the market. In this process, Wang Donglei accused Wu Changjiang of illegally guaranteeing, which may cause NVC lighting to suffer huge losses of 173 million yuan.
On August 11, 2014, NVC Lighting began to suspend trading. It was reported at HK$1.77 on August 8 before the suspension. This stop was more than a year.
According to the 2014 annual report, NVC's annual revenue was 3.471 billion yuan, down from 3.774 billion yuan in the previous year, while the net profit was directly changed from the previous year's profit of 282 million yuan to a loss of 328 million yuan. This is NVC. Since the listing of Hong Kong stocks in May 2010, the first annual performance loss has occurred. The company said in its annual report that some of its subsidiaries were suspended for more than two months due to Wu Changjiang's reasons, which caused the company's operating performance to be impaired, and Wu Changjiang's pledge and guarantee behavior led to the company's loss.
In the first half of 2015, the situation seems to have changed. The semi-annual report showed that the company realized revenue of 1.772 billion yuan in the first half of the year, which was basically the same as that of the previous year; and the profit attributable to owners of the parent company was 17.07 million yuan, a sharp drop from the 58.08 million yuan in the same period of last year. According to the company, after the storm, the company implemented a series of measures to strengthen its position by adjusting its development strategy, including reorganizing its organizational structure for domestic sales, establishing e-commerce and O2O, and establishing a subsidiary of the main home lighting business. The overseas market enhances the ability to operate engineering channels.
On October 23, NVC Lighting issued a resumption announcement. According to the announcement, the company has already made provision for 285 million yuan in the 2014 annual report, and the potential losses are still facing: First, if no money can be recovered from Wu Changjiang, the company will have a loss of 266 million yuan; If CCB’s claim wins, it will bear about 60 million yuan and interest losses.
On October 26, the company's stock resumed trading and oscillated low throughout the day, closing down 34.66%. The turnover of the whole day exceeded HK$200 million, compared with the previous day's turnover of more than 10 million Hong Kong dollars. Some investors said that they have "not evaluated the price (selling light)."
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