Zhong Min Ye Jia Recruitment

On June 15, Yida China Holdings Co., Ltd. (3639.HK) issued an announcement to disclose the voting results of the annual general meeting of shareholders held on June 15, 2020 and the announcement of directors' recall.

According to the announcement, the company's annual general meeting of shareholders adopted the Resolution on Removing Chen Donghui from the post of executive director by ordinary resolution, and removed Chen Donghui from the post of executive director, which took effect on June 15, 2020.

On February 2 1 this year, Yida China announced that Chen Donghui, the executive director of the company, was detained on suspicion of embezzlement. As of February 23rd, Yida China indicated that it could not get in touch with Chen Donghui, nor did it get further information about the detention. As of March 65438, 2002, the board of directors decided to suspend all administrative and executive duties and powers of Chen Donghui as the executive director of the company, with immediate effect.

In addition, Chen Donghui is the executive director of Shanghai Port Group Co., Ltd. (0 1207). HK), but Shanghai Port Group also announced that it would recall Chen Donghui.

Chen Donghui's detention on suspicion of duty embezzlement further influenced Yida China.

On February 24th, Yida China Holdings Co., Ltd. (3639.HK) announced that Chen Donghui, the executive director of the company, was detained, which technically caused the outstanding principal of RMB 4.579 billion entered into by Yida China to trigger some loan regulations. The relevant lender of the relevant loan may demand immediate repayment of the outstanding loan, accrued interest and all other accrued or unpaid amounts of the relevant loan.

For Yida China, it is currently in the midst of internal troubles and foreign invasion. Besides the loan repayment caused by the detention of the executive director, the imposition of an asset freeze order on its controlling shareholder, China Minsheng Investment, and the impact caused by the outbreak of novel coronavirus since the beginning of 2020, it is difficult for Yida China to obtain new financing.

On June 9th, Yida China announced that it was difficult for the Group to obtain new financing due to various challenges it faced in the past few months. However, in order to preserve cash resources, its wholly-owned subsidiary applied for a loan of 230 million yuan, and the term was extended to March 3 1.

According to the data, Yida China is a business park developer and business park operator, whose main business involves the development and operation of business parks, the sales of supporting houses, office buildings and detached houses, the entrusted operation and management of business parks, the provision of construction, decoration and landscaping services and property management services. Zhong Min Investment and Zhong Min Ye Jia are the controlling shareholders of Yida China.

By the end of 20 19, Yida China had a cash and bank balance of 2.04 billion yuan (including restricted cash 1007 billion yuan; Owning bank and other loans is about RMB 654.38+050.1600 million; The net debt ratio is 103.5%, which is 25. 1 percentage point lower than that at the end of 20 18.