[The Epoch Times, July 25, 2022](The Epoch Times reporter Fang Xiao reported) On July 24, the Chinese pig company giant Zhengbang Technology “can’t afford pig feed, and pigs eat pigs” appeared on the hot search. Under the bad news, it was reported that Lin Feng, chairman of Zhengbang Technology, was restricted from high consumption, and the future trend of the company’s stock price became the focus of the market. Zhengbang Technology‘s latest announcement stated that the court has lifted the company’s list of dishonest executors and the restrictions on high consumption of chairman Lin Feng.
On July 24, the Financial Associated Press reported that in the past month, there have been problems of “feeding out” for Zhengbang Technology‘s sponsors in Nanning, Sichuan, Jiangyou, Jiangxi Ganzhou, Hunan Xiangtan and other places. Zhengbang Technology, a big A-share pig farmer, was exposed to “can’t afford” pig feed, and the pigs raised by the farmer were extremely hungry for 8 days due to the lack of feed, and the phenomenon of pigs eating pigs appeared.
In mid-July, Li Jiang drove more than 40 kilometers to Nanning to transport a truckload of feed. Before that, Zhengbang Technology‘s fattening pigs raised by Li Jiang had not eaten feed for two days.
“Zhengbang always cuts out feed, and it has become the norm to cut feed for two or three days after supplying feed for a few days,” Li Jiang said. “If feed is not available, pigs will get sick and starve to death. Stop expecting.”
In the past month, not only in Nanning, Guangxi, where Li Jiang is located, but also in Jiangyou in Sichuan, Ganzhou in Jiangxi, Xiangtan in Hunan and many other places, Zhengbang Technology‘s surrogate supporters have experienced different levels of material outages, and also faced multiple problems such as difficulty in settlement and refund of deposits. .
According to reports, the capital chain of Zhengbang Technology continues to be tight, which is affecting the live pigs in the hands of farmers.
Regarding the issue of pigs eating pigs, Yuan Fuchang, the financial director of a branch of Zhengbang Technology, analyzed during an unannounced visit by reporters: “Pigs eating pigs are obviously short of feed. The company’s funds are tight, and there is no way to provide feed. There will be pigs eating pigs.”
According to the contract between the two parties provided by an agent farmer, the farmer purchases feed and feeds the pigs of Zhengbang Technology, and the feed money is equivalent to temporarily loaning it to Zhengbang Technology. After Zhengbang Technology was unable to guarantee the supply of feed due to the shortage of funds, the surrogate farmers were generally reluctant to advance the purchase of feed.
Shanxi Luliang’s acting farmer, Wang Wei, once made an advance for Zhengbang Technology, and he was very angry about it, “After I made the advance, Zhengbang took a group of pigs away, and then didn’t say a word. Later, I had a falling out with Zhengbang. I raised the last batch of pigs for half a month, and the company didn’t send any feed or medicine, and no one cared if the pigs died in the pigpen.”
Zhengbang Technology was caught in a turmoil of material cuts, and many “pigs eat pigs” videos were fermented on the Internet.
The tragedy of “pigs eating pigs” has aroused heated discussions among netizens. Some netizens said that in our common understanding of the biological world, there is almost no phenomenon of mutual eating between the same species.
Under the bad situation, Lin Feng, chairman of Zhengbang Technology, was restricted from high consumption again.
According to the “Daily Economic News” report on July 24, Zhengbang Technology, which has been frequently exposed to financial problems recently, was taken by the Xihu District Court of Nanchang City to restrict consumption due to disputes. The company’s chairman Lin Feng was restricted from high consumption.
In this regard, Zhengbang Technology stated in the latest announcement that it is understood that the main content of the case is a labor dispute between an employee who was fired by the company in accordance with the rules and regulations and the company. The employee filed a lawsuit with the Xihu District Court of Nanchang City, Jiangxi Province, asking the company to compensate for his losses . After the verdict was handed down, the company believed that the verdict was not in line with the actual situation and filed a retrial on the case on June 30. On July 19, the company found that the case had been enforced by the Xihu District Court of Nanchang City, Jiangxi Province, and personally included Lin Feng, the chairman of the company, into the list of restricted high consumption. The company then immediately contacted the court and explained the reasons. On July 20, the Xihu District Court of Nanchang City, Jiangxi Province lifted the list of untrustworthy executors of the company and the restrictions on high consumption of Chairman Lin Feng.
Recently, Zhengbang Technology can be described as bad news. Zhengbang Technology announced on the evening of June 8 that due to the pig cycle, Zhengbang Technology and its many subsidiaries had some overdue commercial bills. This is the second time that the company has overdue commercial bills. As of the disclosure date of the announcement, the overdue balance of Zhengbang Technology and its many subsidiaries totaled 542 million yuan.
Financial data shows that Zhengbang Technology will suffer a huge loss in 2021. The attributable net profit that year was about negative 18.82 billion yuan. In the first quarter of this year, the company did not turn a loss, and the attributable net profit was about negative 2.433 billion yuan.
Under the constant bad news, how the stock price of Zhengbang Technology performed on July 25 has also become the focus of the market. Up to now, Zhengbang Technology has a total of 191,600 shareholders.
Responsible editor: Lin Congwen#