Minpai Shoes And Clothing Leading Noble Birds Were Debt 80 Million, Interest And Liquidated Damages Alone Exceeded 4 Million

Guirenniao Co., Ltd. (hereinafter referred to as "guirenniao"), the "first stock of A-share sports brand" in the debt mire, announced in the evening of July 30 that due to the failure to pay the principal of 500 million yuan and the corresponding interest of "guirenniao Co., Ltd. (hereinafter referred to as" PPN ") on schedule, the PPN holder Guoyuan Securities shares Ltd. (hereinafter referred to as "Guoyuan securities") filed an application for arbitration with China International Economic and Trade Arbitration Commission, which accepted the application.

Recently, the China International Economic and Trade Arbitration Commission heard a case concerning the dispute over the trading of guirenniao and Guoyuan securities and bonds. On July 29, guirenniao received the award issued by China International Economic and Trade Arbitration Commission

Applicant: Guoyuan Securities Co., Ltd

Respondent: guirenniao Co., Ltd

（1） The respondent shall immediately repay the principal of the non-public directional debt financing tool "16 noble birds ppn001" RMB 80 million to the applicant immediately;

（2） Based on the principal of non-public directional debt financing instrument of RMB 80 million, the respondent shall pay the applicant the interest from November 11, 2018 to the date of principal repayment according to the calculation standard of 5% annual interest rate (the interest as of November 10, 2019 is RMB 4 million);

（3） The respondent shall pay to the applicant the liquidated damages from November 12, 2019 to the date of payment according to the calculation standard of daily interest rate of 0.21 ‰ (as of November 12, 2019, the penalty is RMB 16800);

（4） The respondent shall pay the applicant a lawyer's fee of RMB 250000;

（5） The respondent shall bear the arbitration fee of RMB 629284, which has been paid in full by the applicant. Therefore, the respondent shall pay RMB 629284 to the applicant to compensate the arbitration fee advanced by the applicant.

The respondent shall fulfill the above obligations within 15 days from the date of the award.

This award is final and shall take effect from the date it is made.

Guirenniao said that the principal and interest of "guirenniao Co., Ltd. 2016 first non-public directional debt financing instrument" involved in the arbitration case has been reflected in the scope of the company's financial statements, and the liquidated damages, lawyer's fees and arbitration fees will also be included in the current profit and loss of 2020 according to the provisions. Therefore, this arbitration has not had a significant impact on the current or future profits of the company influence.

As far as the company is concerned, the company will face the risk of default within 15 days if the company's assets are still frozen within 15 days.

The first textile network reporter read the announcement and learned that in the company's reply to the Shanghai Stock Exchange inquiry on June 20, facing the debt scale of nearly 1.2 billion yuan overdue, the company has not yet made a clear solution.

The noble bird announced in the evening of June 22 that recently, the company's real estate, land, equity of subsidiaries and joint-stock companies and equity investment funds held by the company have been filed by creditors for property preservation before litigation due to debt default, which is basically in a frozen state, leading to the failure of some bank loans of the company to handle loan renewal business from the bank after the maturity; at the same time, due to the liquidity shortage, the company's The company has failed to pay the interest on loans of various banks on schedule. The total loan principal of the company in each bank is 1.410 billion yuan, which is overdue. At present, the loan balance of the company in each bank is as follows:

Up to now, the overdue loans and bond principal faced by guirenniao totaled 2.557 billion yuan, accounting for 65.07% of the total audited assets of the company in the previous year.

At that time, the noble bird said that at present, the company was actively negotiating a settlement plan with relevant creditors, striving to reach an agreement with creditors on the debt solution as soon as possible. If the company's assets are overdue, the company's normal business will be affected by overdue loans and arbitration, which may affect the company's normal business performance.

According to public information, guirenniao was established in July 2004. The largest shareholder of the company is guirenniao group (Hong Kong) Co., Ltd., with a shareholding ratio of 76.22%. The actual controller of the company is Lin Tianfu. The company was listed on the main board of Shanghai Stock Exchange in January 2014.

As a well-known local sports shoes and clothing enterprise, in addition to its own brand "noble bird", the noble bird also has its holding subsidiary jiezhixing and famous shoe storehouse, as well as international and domestic first-line famous brand sports products, such as Nike, ADI, UA, converse, new balance, Li Ning, new Bailun, skykey, Arthur, DC, puma, etc., have agent sales or operation.

According to the financial report, in 2019, guirenniao's operating revenue was 1.581 billion yuan, a year-on-year decrease of 43.77%; the net profit loss attributable to shareholders of listed companies was RMB 1.018 billion yuan, and the annual net profits in 2018 and 2019 were both negative.

By the end of 2019, kingbird brand marketing network has covered 31 provinces, autonomous regions and municipalities directly under the central government, with a total retail terminal area of 190726 square meters, including 250 retail terminals in first tier cities, 505 retail terminals in second tier cities, 964 retail terminals in third tier cities and 639 retail terminals in fourth tier cities There are 239 in East China, 482 in Southwest China, 258 in Central China, 252 in South China, 494 in Northeast China, 403 in North China and 230 in Northwest China.

Due to the outstanding balance of the company's outstanding outstanding outstanding bonds (PPN) of RMB 1.47 billion in 2016, the outstanding balance of the company's outstanding outstanding bonds in the year of 2016 (hereinafter referred to as "the outstanding balance of the company's outstanding bonds of RMB 1.14 billion) was issued in 2016 It is 500 million yuan.

Affected by the epidemic situation, in the first quarter of 2020, the revenue of guirenniao decreased by 66.92% year-on-year, and the net profit was changed from profit to loss compared with the same period of last year.