Source: pig many nets

Another pig company is following in the footsteps of Zhengbang!

On April 30, Aonong Bio issued an announcement that the company's shares were warned of the risk of delisting andCrashhugeadventureHe warned that trading was suspended for one day from the opening of the market on April 30, and resumed trading on May 6. After the resumption of trading, the short name of the securities was changed to "* ST Aonong".

"proud Nong creature" becomes "* ST proud Nong"

Aonong said that because the company's audited net assets belonging to shareholders of listed companies at the end of 2023 were negative, touching the Shanghai Stock Exchange listing rules that the audited net assets at the end of the most recent fiscal year were negative, or retroactively restated the situation in which the net assets at the end of the most recent fiscal year were negative, the company's shares will be delisted risk warning.

Due to the company's continuous losses in the past three years, and Rongcheng Accounting firm issued the company's 2023 financial report.CrashhugeadventureThe unqualified opinion audit report on the continuing operating ability with an emphasis section touches upon the provisions of the Stock listing rules of the Shanghai Stock Exchange that the net profit before and after deducting non-recurring profits and losses in the last three consecutive fiscal years is negative, and the audit report of the financial and accounting report of the most recent fiscal year shows that there is uncertainty about the company's sustainable operating ability. The company's stock trading will be subject to other risk warnings.

According to the 2023 annual report of Aonong biology, the company realized operating income of 194 during the reporting periodCrashhugeadventure.58 billion yuan, down 9% from the same period last yearCrashhugeadventure.97%, realizing a net loss of 3.651 billion yuan, compared with a loss of 1.038 billion yuan in the same period last year, and the loss expanded compared with the same period last year.

This is also the third year in a row that Aonong has suffered large losses. From 2021 to 2023, the company recorded losses of 1.52 billion yuan, 1.038 billion yuan and 3.651 billion yuan respectively, totaling 6.209 billion yuan, far exceeding the total profits since the company went public.

A significant expansion of the "crash" depressed pig cycle, or a major factor in the company's losses. During the reporting period, the company produced 5.859 million pigs, an increase of 12.91% over the same period last year. In 2018, the company produced only 420000 pigs, with an average annual compound growth rate of 69.40% over a six-year period, significantly higher than that of other listed pig enterprises.

The challenges ahead are still daunting.

For the change from "proud creature" to "* ST proud farmer". Aonong said that in view of the current situation and the pressure on the company, the pre-restructuring process has been initiated and the company's business plan and future development plan will be negotiated with creditors, (interim) managers and subsequent investors involved in the restructuring of the company. Through the common benefit debt in the process of restructuring and the funds invested by investors, the pressure of operating funds can be alleviated.

At the same time, the company will reintegrate resources, promote the coordinated development of various business sectors, continue to improve the construction of internal control system, control major risks, and promote enterprises to achieve development strategy.

Aonong biological hint, through the implementation of the above measures to achieve the desired goals, there is still greater uncertainty, investors are asked to pay attention to investment risks.

The quarterly report of 2024 shows that the net cash flow generated by Aonong biological business activities is about-28.6964 million yuan, compared with 253 million yuan in the same period last year. "the operating capital of the company is greatly affected by the debt burden." Peng Jiang, the secretary of Aonong biology, told the Volkswagen Securities News.

Prior to this, Aonong Investment, the controlling shareholder of Aonong Biology, had been applied for pre-restructuring by the creditor Fujian Dazhou Construction Group Co., Ltd., due to the failure to pay off the due debts on time and the obvious lack of solvency. In March this year, the court ruled to accept the restructuring of the company's controlling shareholders.

"if liquidity is restored, it will effectively ease the company's debt burden and provide financial support to operations." In Peng Jiang's view, if the restructuring is successful, with the introduction of incremental funds, it will significantly improve the company's asset-liability structure and return the company to a healthy and sustainable development track. However, Aonong also warned of the corresponding risks, saying in a related announcement that although the company has started pre-restructuring, there is uncertainty about whether it can enter the restructuring process.