Jin Li Is In Debt 600 Million Is Frozen Over 2 Billion Ouffi Science And Technology To Apply For Property Preservation Is To Micom Bank?

On April 24, Ophelia Technology officially released its 2017 annual report, which shows that revenue and net profit will both rise and fall in 2017. It is worth noting that, last year, Ophelia Technology has received market attention due to Jin Liang’s arrears of RMB 626 million in assets for asset impairment. Recently, Jinli insiders broke the news with Southern Reporters that Ophelia Technology's property preservation measures, suing Jin Li, are not only worried about Jin Li's repayment plan, but also the 3% stake held by Jinli Micro-Bank. Xiao Fei Song, Ophelia’s director of technology, responded last night that it was absurd to say that “Offy Technology sued Jin Li for Microcred's equity” and said that Ouffy Technology is only going to make payments and will not maliciously destroy it.

Revenue and net profit rose:

Net profit rose by 40.47% to 1 billion

The annual report shows that Ophelia’s 2017 revenue and net profit both rose. In 2017, O&F Technology achieved a revenue of 33.791 billion yuan, a year-on-year increase of 26.34%; net profit attributable to the mother was 1.009 billion yuan, a year-on-year increase of 40.47%. In the quarterly report released in the same period, the company's performance continued to grow rapidly, achieving revenue of 7.558 billion yuan, 22.6% year-on-year, net profit attributable to the mother of 295 million yuan, 55.01% year-on-year, deducting non-returned mother net profit of 299 million yuan, year-on-year 101.58%.

According to public information, Ophey's main business products include micro camera modules, touch screen and touch display full-fit modules, fingerprint recognition modules and smart car electronic products and services, which are widely used in smart phones and tablet computers. Consumer electronics and smart cars represented by smart cars and wearable electronics.

As for the reasons for the double growth of company revenue and net profit, Ouffy Technology analyzed in the annual report that this was due to the company's full use of optical innovation and design advantages. The camera business achieved rapid growth, and the global market share steadily increased. The company continued to optimize the camera. With the module business product structure, the proportion of shipments of dual-camera modules has rapidly increased, and the share of hot-selling models for key clients has continued to increase, which has led to a significant improvement in the overall profitability of the company.

In the annual report, Ophew said that in 2018, the company will pay more attention to the company's leading advantage in innovative technology and strengthen the encouragement of independent innovation genes, and will ensure operating income by extending the industrial chain and increasing the proportion of high-end products. Under the premise of continuous and steady growth, the company's overall profitability and net assets return rate will be gradually increased.

Reply to Shenzhen Stock Exchange inquiry:

Asset impairment due to Jinli’s arrearage

Prior to this, Ophelia Technology became the focus of public opinion due to "the asset impairment of Jinli Mobile's arrears of receivables." On February 6th, under the inquiry of the Shenzhen Stock Exchange inquiry letter, Oufei Technology responded that the company’s balance of accounts receivable with Jinli was RMB 626 million. Due to Jin Li’s tight capital chain, the company’s accounts receivable in Jinli has been overdue for more than two months. The company has stopped shipping to Jinli.

In response to the Shenzhen Stock Exchange's inquiry letter, Oufei Technology stated that since Jin Li’s financial problems caused the company’s accounts receivable to be overdue, the company and Jin Li’s meetings have been discussed and actively collected, but Jin Li’s failure to Arranging payment and claiming that there is no repayment plan for the company in the short term. The company has taken property preservation measures against Jinli’s accounts receivable, including: (1) seizing Jinli’s shares in Weizhong Bank and Nanyue Bank, and Liu Lirong’s equity in Shenzhen Jinli Communications Equipment Co., Ltd.; More than 30 trademarks of the company; (3) Waiting for the closure of some of Jinli’s real estate and industrial park land; (4) Seizing Liu Lirong’s and his spouses' names and company’s equity in several companies.

"Overrun Freeze Gold Account

The meaning of drunkards is not wine."

Nandu reporter learned that Ouffy Technology is the exclusive supplier of the "S10" camera module for the Jinli mobile phone. Ophelia Technology's 2017 annual report shows that Jinli Mobile’s accounts receivable accounted for approximately 1.85% of its total revenue. Jin Li mobile phone insider told Nandu reporter, Jin Li's accounts have a limited impact on Ophelia's technology, but it is still lingering.

The above-mentioned insiders stated that Ouffis Technology's firm implementation of property preservation measures is not only a worry for Jin Li's repayment plan, but also hopes to get a better asset than the debt owed, that is, Weizhong Bank’s equity.

It is reported that in 2017 the domestic mobile phone manufacturers underwent the pressure of the full-screen era. The first mobile phone research institute Sun Yanxi analyzed that a group of domestic brand manufacturers have developed overly aggressive business development based on the 2016 results. Under the pressure of the full screen era, there has been a backlog of product inventory. Jinli Mobile’s capital strength was inferior to that of the leading enterprises, so it was caught by the market by surprise and directly entered the harsh winter.

“The tension in the capital chain is a cyclical phenomenon in the industry. It is normal for Jinli to be affected by this. However, under the premise that we still have the money to enter the account, Ouffy Technology has overrun the company’s operating accounts (exceeding 2 billion yuan). It can be said that The insiders said that Jin Li’s current operating account has been frozen, which has exacerbated the debt crisis. If a frozen supplier’s creditor wants to apply for money from the court, they should hope to have sufficient cash. Flow, but now they are doing the opposite, it is unavoidable to suspect that "the ulterior motives".

Response

Ophelia Technology Secretary Xiao Yan Song:

Jin Li has a lot of high-quality assets, capital chain break can survive severed

Jin Li’s business account was also frozen due to the lawsuit of Ophelia Technology, which made Jin Lixue, who had already faced tight funding. However, Ouffy Technology has 266 million yuan in accounts not recovered. Why did the company freeze Jin Li’s operating accounts exceeding RMB 2 billion?

Reports from Southern Metropolitan reporters and Oufei Science and Technology sued Jin Li for the issue of Microfinance’s equity, etc., to send an interview letter to Ouffi Technology. Ouffy’s director secret Xiao Xiaosong told the Southern Reporter that Ophelia Technology sued Jin Li for the equity of Weizhong Group. This argument is ridiculous.

“Jin Li’s poor management and management results in a default of 5 months or less for ODF Technologies’ payment. It is a very reasonable act for Ophelia to apply for property preservation measures.” Xiao Yansong stated that Jin Li defaulted on Ophelia’s 626 million yuan, 2016 Ophelia Technology's net profit of 700 million yuan this year, this account has a great influence on Ophelia Technology.

In addition, during the interview, Xiao Yansong emphasized that Ouffy Technology does not freeze all the accounts of Ginrich, or that Gulin has long declared bankruptcy, and that Ouffy Technology cannot recover the arrears on time and applying to the court for property preservation is to safeguard legitimate property rights. If Ophelia Technology collects the payment, Oufei Technology will immediately apply for the release of property preservation.

“Jinli has a lot of high-quality assets. In the event of a break in the capital chain, he can severely survive and remove the old Lai’s hat.” Xiao Yansong said that Jinli is a customer of Ophelia Technology, and Ouffy Technology is only going to make payments. Will not maliciously engage in destruction.

An attorney who asked not to be named informed the reporter of Nandu that the seizure of articles with over-limitation was considered inconsistent in the frozen assets, which was generally due to differences in understanding of the actual liquidation value of the seizure. However, as long as the plaintiff successfully applied for sealing, it is protected by law.

Interpretation

Changes in the equity of commercial banks The share capital should be self-owned funds

According to public information, Weizhong Bank is a private bank initiated and established by several well-known enterprises such as Tencent, Baiyeyuan and Liye. In December 2014, Weizhong Bank was awarded a financial license issued by Shenzhen Banking Regulatory Bureau. In a “2017 China Unicorn Enterprise Development Report”, Microcred Public Bank has a valuation of US$9.23 billion. In 2017, Weizhong Bank's revenue reached 6.748 billion yuan, and its revenue increased 175.54% year-on-year. Weizhong Bank's net profit in 2017 was 1.448 billion yuan, which soared 261.1% from 2016's 401 million yuan.

However, the Bank of China has the relevant access requirements for the equity transferee of commercial banks. An industry source told Nandu that the regulatory authorities have strict requirements on the equity transferee of commercial banks, and require high qualifications for shareholders' access, including but not limited to potential risks inherent in the shareholders themselves, sources of funds unknown, holdings, debts, Corporate governance, major lawsuits, etc.

In 2015, the China Banking Regulatory Commission announced the implementation of the Measures for the Implementation of Administrative Licensing of Chinese-funded Commercial Banks by the China Banking Regulatory Commission. It shows that if the equity of a Chinese-funded commercial bank is changed, the shareholders’ qualifications of the company shall be in line with the fund itself, and no entrusted funds or debt funds are allowed. Non-ownership shares, except as otherwise stipulated by laws and regulations; have a longer development period and stable operating conditions; have good financial conditions and have been continuously profitable for the last 3 accounting years; after year-end distribution, net assets have reached 30% of all assets. (Consolidated accounting statements) and other conditions.

It is worth noting that the bank shares held by Jinli were not affected by the repayment of creditors' equity due to regulatory intervention and the lock-up period. Jin Li is also seeking legal solutions to Ophelia’s overrun of freezing its assets.

● Ouffy Technology has 62.6 million yuan in bills not recovered

● Freeze Gion’s over 2 billion business accounts

● Jinli insiders claimed that Ophelia Technology's property preservation measures are for the 3% stake in Weizhong Bank held by Jinli.

●According to the “2017 China Unicorn Enterprise Development Report”, Weizhong Bank’s valuation is US$9.23 billion.